Party Gaming Expands with Cashcade Acquisition
Party Gaming’s ever-growing stable of money-making business acquisitions has been further bolstered by the purchase of the Cashcade Company.
Reports in last weekend’s papers told that the online gaming giants had purchased Cashcade - owner of the Foxy Bingo and Getminted websites - as part of their continued expansion plans, with UK broadsheet The Times claiming a sum of £100 million was paid by Party Gaming for the company.
Certainly, the acquisition of Cashcade indicates that Party Gaming are looking to follow in the footsteps of a number of the larger online gambling firms by buying into the lucrative online bingo market – and the signs are that they intend to take the game mainstream by promoting their new product worldwide.
Early this year, Party Gaming successfully settled a legal dispute with the USA’s Department of Justice which signalled their intent to expand into the global market and further consolidate their strength in the online gaming world. Indeed, if reports are to be believed, Party Gaming’s spending spree may not yet be over and it is thought that they may still be considering purchasing software company Gigamedia.
Whether the rumours circulating about Party Gaming’s summer spending turn out to be true or not, their acquisition of Cashcade certainly indicates that the company is now becoming a force to be reckoned with in the world of online gaming.