It seems that the future of Cashcade, one of the major movers and shakers in the industry of online casinos and bingo halls, is now finally secure. After battling many different rumors that hinted that the online casino gambling company would be purchase by several different companies, among them 888.com, the wguessing game is officially over. It seems that the mastermind of the latest business deal in this case is PartyGaming.

After coming through relatively unscathed after its searing and long drawn-out legal battle with the United States Department of Justice, PartyGaming is working its way back up to the top of the crop among online casinos and operators. You may be only moderately familiar with the name Cashcade, but if you are a hardcore online casino or bingo fanatic, then surely you are familiar with popular sites such as Get Minted and Foxy Bingo. Those are brought to you courtesy of the people at Cashcade.

PartyGaming is seeking to gain some further standing in the industry by going through a series of elaborate and high-scale acquisitions that will increase its already sizable hold on a substantial portion of the casino gaming industry’s future. The buyout of Cashcade was reportedly in the ballpark of about 100 million pounds.

PartyGaming was required to make a down payment of no less than 75 million in order to get the deal to go through. The remainder of the payment will be delivered after a performance review takes place over the course of the next two coming years. This is positive news for the Independent News and Media publishing company that has struggled to remain afloat during these challenging economic times.

Tags: cashcade, partygaming

This entry was posted on Saturday, July 25th, 2009 at 9:26 pm 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.