The online bingo operator Cashcade that owns many popular bingo brands in the UK is up for sale. The company owns Little Big Bingo, Cheeky Bingo, Think Bingo and Foxy Bingo amongst others and also owns casino website Get Minted.
Cashcade has over 900,000 registered users, approximately 80% of which are women and has had about 60 to 70K active members playing at the site in the past three months. Bingo portal, BingoPort, has announced that Cashcade is presently the no. 1 UK bingo company when it comes to player numbers.
Foxy Bingo, which is presently the no. 2 online bingo brand, is one of Cashcade’s largest bingo brands. Gala Bingo is the no. 1 bingo brand.
The online bingo industry is growing rapidly in the UK and Cashcade has reported an increase of 91% in profits. Many online gaming enthusiasts in the UK are changing from casino and poker to online bingo.
The UK online bingo market accounts for almost 20% of the world market which is undoubtedly the reason that the impending sale is generating so much interest in the online bingo industry.
PartyGaming will evidently soon be announcing the acquisition of Cashcade for a total of 100 million pounds.