WILL CASHCADE LIST?

15 February 2008

UK online gambling group is seriously considering a listing


The London business press speculated this week that UK online gambling group Cashcade is gearing up for a GBP 100 million public listing within the next year, but may also be prepared to consider buy-out offers for the firm.

A deal with either IGT or 888 has been characterised by Cashcade chairman Michael Buckley as an arrangement that “would be synergistic for us”. 32 percent of the company is owned by management, including founders Simon Collins and Patrick Southon.

Cashcade Ltd is a UK based online gambling marketing company which owns Getminted.com online casino and FoxyBingo.com bingo website. It provides managed online gambling services for various clients, including Trinity Mirror (MirrorBingo.com and MirrorCasino.com), Daily Mail (MailBingo.com) and others.

Cashcade's casino and poker brands use WagerWorks software and games, while its bingo websites use Globalcom, a company recently acquired by 888.com. Cashcade has also developed its own gaming platform, which powers GetmintedMax.com, an instant win games website.

Additional development areas include Mobile Games, Digital TV Games and e-wallet functionality. Cashcade is also a marketing organisation and the owner of 32 Cashcade Limited websites.

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