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The Price for Expansion: 1

The online casino gambling industry is in a consolidation and acquisition phase, one that was largely predicted by the industry analysts several years ago. A large surge of growth in the internet gambling industry over the past several years has allowed smaller gambling brands to flourish. The recession hit these sites pretty hard however, and the smaller gambling brands are now being folded into the larger and more established gambling groups. Party Gaming announced its expansion into the internet bingo gaming sector with the purchase of Cashcade last month. Cashcade is the small gambling group that owns both the Getminted and Foxy Bingo gaming sites. Party Gaming reportedly spent GBP 100 million for the acquisition – a hefty sum but a small price to actually pay for an established entry into the internet bingo sector of the online casino gambling industry.

Of the GBP 100 million purchase price for the Cashcade online casino gambling group, Party Gaming is paying 75 million of that upfront immediate and then the other quarter of the purchase price will be paid once the internet bingo sites live up to certain performance expectations throughout this year and the following. The purchase comes at a great time for one of Cashcade’s owners. The Independent News & Media company owns a healthy 20 percent share in the company and has been struggling lately as a result of the tough economy. The media company’s portion of the sale of the Cashcade online casino gambling group will go a long way toward financial stability.

Cashcade’s online casino bingo gambling sites were established in 2000 and have been growing steadily over the past nine years.