As many of you will know the incredible site that is Foxy Bingo is owned by a company called Cashcade and over the last few months there have been a lot of news articles about the rumoured sale of Cashcade. It looks likely that this is soon to become fact rather than rumour as even The Times and other reputable newspapers have been covering the sale. Originally there were quite a few interested parties for the sale of Cashcade but both 888 and PartyGaming appeared to be front runners.
Recently 888 dropped out of the bidding and it was left to PartyGaming to stump up the £100 million price tag attached to CashCade. The Times reported on 19th July that the sale is likely to be announced in the next couple of days so what does this means for Foxy Bingo? As with all sales in big business it is probable that all the key members of staff will be retained by PartyGaming because why change something that isn’t broken.
It is believed that an initial payment of £75 million will be paid on completion of the sale with a further £25 million to follow dependant on the performance of the Foxy brand and others under the Cashcade hat for the remainder of this year and 2010.
We at Foxy Bingo Review hope that the sale proves to be the right move for CashCade and that we continue to see the innovative promotions and offers that we are used to from Foxy Bingo.
23/12/2009 12:23:58
