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Party Gaming and 888 Fight Over Buying Cashcade
Reports in The Times over the weekend confirm rumours that both Party Gaming and 888 are among the final bidders for Internet bingo company Cashcade, which owns FoxyBingo and GetMinted among other websites. The company achieved gross gaming revenues of GBP 45 million last year, generating EBITDA of GBP 12.3 million.
Part-owned (some 17 percent) by Independent News and Media, the online bingo company is expected to fetch between GBP 70 million and GBP 100 million, providing a valuable lifeline to Independent News, which last week secured a standstill agreement with its lenders, and a massive windfall for the group’s directors and staff, who own around half the shares, reports The Times.
There is apparently at least one other major bidder for Cashcade, with analysts speculating that it could be Paddy Power.
Jim Ryan, the CEO of Party Gaming, said last month that the company was considering a number of possible acquisition targets, and there have been persistent rumours that the group is involved in negotiations with Everest Poker owner GigaMedia in Taiwan.
888 execs have been equally consistent in statements indicating that the Gibraltar-based company was on the acquisition trail with the wherewithal to snap up targets where and when available.
Gambling News :
US$30M DUBAI WORLD CUP -
Racecourse Media Group and Meydan to showcase world’s richest raceday to more than 150 territories The Dubai World Cup is the first horse race to be broadcast live on airlines and cruise lines
NHL Odds: Forsberg Faces Elliott in Nashville -
The last time the Nashville Predators played against the Calgary Flames, Calgary had a 4-1 lead five minutes into the second period. Nashville responded with four back-to-back goals, including a hat trick from centreman Filip Forsberg. Both teams went into overtime with five goals, and Calgary defenseman Mark Giordano (12 goals, 22 assists) scored the winning goal.
NBA Odds: Hawks, Wiz in Southeast Showdown -
The Washington Wizards (42-27 SU, 36-32-1 ATS) can pretty much secure the Southeast Division title with a win Wednesday night over the Atlanta Hawks (37-32 SU, 31-38 ATS). Tip-off is at 8 PM ET on ESPN; the Wizards lead Atlanta by five games with less than a month remaining before the playoffs.
NBA Odds: Clippers Try to Slow Down Bucks in LA -
Milwaukee Bucks small forward Giannis Antetokounmpo and Los Angeles Clippers power forward Blake Griffin are two of the most talented and versatile forwards in the NBA. The two lead their teams into battle on Wednesday in Los Angeles.
NHL Odds: Canadiens Welcome Islanders Tonight -
The Montreal Canadiens (32-20-8) welcome the New York Islanders (28-21-10) on Thursday (7:30 PM ET on SNE). After getting their first victory under new head coach Claude Julien, the Canadiens will look to build on that momentum against a red-hot Islanders team.
NHL Odds: Reeling Flyers Seek Relief in Pittsburgh -
#nhl The Philadelphia Flyers have been a bit off since the holidays. They’ve won just eight games since the Christmas break, and now they’ve got a tough one coming up this Saturday night against the Pittsburgh Penguins.
Dollars to Donuts Slot Launch -
Firstly, it's a classically styled, easy playing 3-reel with five pay lines featuring a traditional icon set of bars and sevens.
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