There has been much speculation in recent months on the bidding for the internet bingo giants that own Foxy Bingo and many more. The news today is the Cashcade sell to PartyGaming; the deal finally went through last night for a staggering £95.9 million! Cashcade, the name behind some of the most innovative bingo sites like Think Bingo, Little Big Bingo and KissMyBingo will get an initial payment of £71.9 million followed by a further £24 million dependant on performance.
Now that Cashcade have sold to PartyGaming are we likely to see many changes to the brands? It’s very unlikely because PartyGaming have obviously spent such a huge amount of money to secure the business because it works. PartyGaming have a staggering $1.5 billion share in the global internet bingo market and this is acquisition is the first since a settlement with the US which cost them $105 million in a “non prosecution agreement” after taking US bets.
PartyGaming is best known for its Party brands which include Party Bingo, Party Poker and Party Casino and where also the power behind ITV Bingo which enjoyed limited success during the airing of Bingo Night Live.
For all you bingo players things wont be changing in the bingo rooms at your favourite sites, its simply a new owner. Remember when Globalcom, the software that powers the bingo games, was sold to 888Holdings? The new owners of the platform introduced some great new features to the rooms, the most popular of course being free bingo!