Earlier this week it was rumored that Cashcade, certainly one of online bingo’s biggest companies was seeking to be bought out by 888 Holdings. Now it sort of feels as if this deal has fallen through due the the high cost of the purchase.
Cashcade is the behind a few of online bingo’s hottest websites, reminiscent of Foxy Bingo, Think Bingo, and Cheeky Bingo. Although these websites are doing remarkably well, Cashcade is finding itself in additional debt than they are able to handle. Cashcade is calling for 100M pounds for the corporate and 888.com just can’t appear to get the funds together.
Other rival companies have come forward in stating their interest in purchasing the enormous. Party Gaming is raring and believes they may finish the deal as early because the end of July. Cashcade is short of the fast purchase as they're in a jam to repay their debts.
It seems that Cashcade also has a status contract with 888′ Globalcom Network and it's expected they're going to uphold that contract although it isn't exclusive. 888′s Dragonfish division could see an important loss in liquidity from lack of business from Cashcade and continues to be very involved in what the long run will reveal.
Read More... [Source: Online Casino Reviews » Online Bingo News | UK & US Bingo News Online]
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