It seems that there is fierce competition in the air among not only players at online casinos but also among different casino companies that are vying for the same business deals. This time the race is on between 888 Holdings and PartyGaming. The two online casino industry companies are competing neck and neck to seal the deal with Cashcade. They are among the top final companies who have thrown their hat into the ring and put down a bid. Cashcade is a well known casino and gambling operation in the business. Some of their ventures include the likes of Foxy Bingo and GetMinted among others. The company has been doing very well overall despite the horribly bleak economic conditions that have paralyzed many other industries in the business world.Over the course of the last year, Cashcade was able to take in a gross gaming revenue sum that was right around 45 million pounds. That is a substantial undertaking given today’s unforgiving financial climate. Many other online casinos and assorted gambling operations would be very happy to achieve half of what Cashcade has been able to generate in terms of profits. This organization, devoted mostly to the online bingo sector of the casino business is partially owned by Independent News and Media.

Their latest deal is going to set them up very well financially speaking for some time to come. There is rumored to be one other competitive bidder who also decided to throw their hat into the ring to work with Cashcade and many casino industry insiders are assuming that the contender is none other than Paddy Power. With PartyGaming well on the mend from their legal woes and battling it out with the United States Department of Justice, they are scouting out a vast assortment of acquisition possibilities to spice things up.

Tags: 888 holdings, partygaming

This entry was posted on Thursday, May 28th, 2009 at 6:49 am and is filed under Online Gambling. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.