Party Gaming is buying up Cashcade holdings and is negotiating to buy more shares. Party Gaming bought the shares of Cashcade from INM for €15m. INM has more shares and has sold other holdings of other companies to settle a bond repayment that was due for payment in May of this year.
Party Gaming seeks to buy up as much of Cashcade as they can get their hands on at this time. The purchase from INM, International News & Media is part of the strategy to buy up existing shares of Cashcade.

Cashcade is the parent company of a group of very successful online bingo sites like Foxy Bingo, Think Bingo, Bingo Scotland, Cheeky Bingo and Little Big Bingo
Cashcade recently sold this group of sites to Party Gaming for £94.9 million. Online bingo has proven, over time to be a solid investment for Cashcade. Cashcade also operated a group of online casinos as well as the bingo group.

Many bigger companies in the gaming industry are consolidating their holdings in the gambling industry while the economy is in a down turn. They are practicing the time-honored way to make money buy low at distressed prices from others that need to raise money. Cashcade is reported to be very pleased with becoming associated with Party Gaming and the better financial position this business deal will generate for the company.

Party Gaming is trying to consolidate areas that they feel they can operate at a cost savings and increase their revenues. The purchase from Cashcade is an example of the purchases they intend to make now and in the future. This purchase by the strong Party Gaming follows a pattern that is seen in many industries when the economic tide is ebbing. The strong companies go shopping with money or their better performing stock and make deals that they feel will give them even a better presence in their industry or market in the future.

This deal by Party Gaming means that they out bid or maneuvered 888.com
The purchase by Party Gaming ended the try by 888.com to become the new owner of Cashcade.

How this consolidation in the bingo industry will affect players on these sites is yet to be seen. However the likely result will be a better group of bingo promotions for players on these sites. More promotions at better jackpots will also bring in new customer as well as keep existing players actively playing.