The rumors of 888 Holdings taking over Cashcade group are becoming more and more official as there has been continuous reports that the Chief Directors of 888 have been in negotiation with Cashcade group of Foxy Bingo for an acquisition of the online bingo sites that operate under the groups name.
Cashcade which powers Foxy Bingo, Cheeky Bingo, Think Bingo and Bingo Scotland will sell its right in a bundle if the deal goes through. The UK Telegraph has reported that there is a number of gaming companies that are after purchasing Cashcade including Party Gaming which owns Party Bingo, Party Poker and Party Casino with almighty 888 being the most popular candidate.
The deal is said to be worth anything between £70 to £100 million, as Caschcade maintains an excellent reputation and a very loyal audience, Cashcade is the company behind the popular Foxy Bingo Adverts and the brand recognition of the Foxy Mascot.
From the way it looks its clearly a matter of who can manage to bring up the funds needed without causing a cash flow stagnation as it is a tricky period for acquisitions.
For the latest bingo news visit http://www.onlinebingogala.com