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Internet bingo poised for significant growth
The successful bidder in the ongoing Cashcade sale negotiations could determine who will lead the online bingo industry into what increasingly looks like a bright future for the game.
This week The Times reported that growing numbers of casino and poker gamblers are looking to bingo as an alternative diversion, with the Internet bingo sector becoming the fastest form of online gambling
worth $1.4 billion last year on a global basis. It is forecast to hit $1.7 billion this (2009) year and $2 billion in 2010. The UK accounts for about 20 percent of the market.
Cashcade, the owner of the popular Foxy Bingo and Getminted casino web brands, is therefore a key element, and its auction has sparked wide interest. Foxy Bingo, founded in June 2005, is the No 2 online bingo brand behind Gala.
Independent News & Media has a 20 percent stake in the Cashcade, which is expected to fetch between GBP 70 million and GBP 100 million, with PartyGaming tipped to seal a deal in the face of opposition from 888 Holdings and Paddy Power, the Irish bookmaker. Cashcade recently reported a 91 percent jump in revenues to GBP 33.7 million, with pre-tax profits doubling to GBP 10.9 million.
The Times report says the fear for Gala if PartyGaming wins the bidding for Cashcade is that it might lose its leadership position as the internet gambling giant leverages its scale by cross-selling to its poker, casino and sports betting customers.
A victory for PartyGaming could also be a setback for 888 Holdings, which provides the software for Cashcade's websites and had been tipped as the early frontrunner
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
Fair Play Bets and QuickFire in Deal -
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