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888 Denies cashcade acquisition talks
Reports this week from the Reuters news service that online gambling group 888.com was in advanced talks to acquire up to five companies prompted the publication e-Gaming Review to ask CEO Gigi Levy whether Cashcade was on his group's shopping list. Levy categorically dismissed the speculation.
The publication's curiosity was understandable; Cashcade, which owns Foxy Bingo, is currently going through a bidding process. Newspaper group Independent News and Media holds a 20 percent shareholding in Cashcade and needs to raise funds as it has to repay Euro 200 million this year, EGR reports. INM is understood to have a clause in its stakeholding which can force it to push a sale through. Cashcade is available for between GBP 70 million and GBP 100 million, according to sources.
Cashcade operates on the Globalcom platform, which 888 already owns, having purchased it two years back for $ 32.4 million. EGR notes that by buying Cashcade now, 888.com could keep it out of the hands of competitors such as Gamesys, owner of Jackpot Joy, one of the UK’s biggest bingo sites.
Levy did admit that 888.com was "interested" in Cashcade, although it was not the company with which 888.com was in advanced talks.
“Right now there are lots of opportunities out there because there are companies that are struggling or that can see it will be hard to maintain growth because they are too small,” he added.
Betradar Launches US Sports Betting Solutions -
With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.
Final 12 For MPNPT Morocco -
Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).
MPNPT Morocco Updates -
Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.
MPN Poker Tour Morocco Day 1A -
The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.
2018 MPN Poker Classic -
The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.
PDC and Sportradar Renew Deal -
Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data
Poker Yaar Joins MPN -
Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.
New MPN Poker Rooms Tower Torneos -
Impressed with Microgaming, having already integrated with the Quickfire platform to gain access to some of the industry’s best gaming content, Tower Torneos has extended the relationship with poker.<
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