Jul
22nd

Online Bingo Operator Cashcade Up For Sale

The online bingo industry in the UK is taking great interest in the news that online bingo operator Cashcade is up for sale.

The company that owns many of the most popular online bingo brands in the UK including Think Bingo, Foxy Bingo, Little Big Bingo and Cheeky Bingo also owns casino website Get Minted.

Cashcade has over 900,000 registered users. Approximately 80% of its users are women. In the past three months about 60 to 70K active members played at the site. According to bingo portal BingoPort, Cashcade is presently the number one UK bingo company when it comes to player numbers.

One of Cashcade’s largest bingo brands is Foxy Bingo which is presently the no. 2 online bingo brand. Gala Bingo is the no. 1 brand at the moment.

Cashcade has reported an increase of 91% in profits with revenues totaling 33.7 million pounds and pre-tax profits of 10.9 million pounds.

The online bingo industry is growing at a dramatic pace in the UK as many online gaming enthusiasts are turning from casino and poker to online bingo.

With the UK online bingo market accounting for almost 20% of the world market it is obvious why the impending sale of online bingo operator Cashcade is generating so much interest in the online bingo industry.

According to the Sunday Times, PartyGaming will soon be announcing the acquisition of Cashcade for a total of 100 million pounds. This will undoubtedly threaten Gala’s no. 2 position as the no. 1 bingo brand as PartyGaming will probably rope in its poker, sports betting and casino customers by cross-selling..

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