Casinos.co.uk: Casino News Archive
Thursday 21st February 2008
CashCade Could Go Public
According to speculation from numerous business press sources, UK online gambling group Cashcade Ltd is considering a $200 million public listing within the next year.
There are also rumours that Cashcade may be prepared to consider buy-out offers from competitors or private equity firms with the company’s Chairman, Michael Buckley, characterising a reported deal with either International Game Technology or 888.com as being ‘synergistic with us’.
“I think it's the right time for us to be looking at one of those options,'' said Buckley.
“We are on a bit of a roll, which makes it attractive.”
Cashcade owns the GetMinted.com online casino as well as the FoxyBingo.com bingo website and provides managed Internet gambling services for various clients including Trinity Mirror’s MirrorBingo.com and MirrorCasino.com along with the Daily Mail’s MailBingo.com.
Its casino and poker brands use WagerWorks software and games while its bingo websites use Globalcom, a company recently acquired by 888.com. The company also developed its own gaming platform, which powers instant win games site GetMintedMax.com, with additional development covering games for mobile telephones and digital television.
Cashcade management including founders Simon Collins and Patrick Southon owns 32 percent of the company, which also serves as a marketing organisation with over 30 websites.
Source:OnlineCasinoNews
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