CASHCADE TOPS THE ONLINE BINGO POPS (Update)
24 July 2009
Great timing for latest independent
statistical results
The timing could not have been better; as UK online
bingo group Cashcade was being snapped up by Party
Gaming last week for a reported GBP 100 million (see
previous InfoPowa report) an independent statistical
site pronounced the bingo operator as the UK leader in
the field.
Cashcade operates top brands like Foxy
Bingo, Mirror Bingo, Think Bingo and Cheeky Bingo, and
has been consistently hosting over 2 500 average daily
concurrent users in its 7 online bingo networks in the 3
months to June 30, 2009; representing around 23 percent
of the total UK online bingo market share, reports the
independent bingo information portal Bingoport.co.uk.
The next closest competitor is the stand alone bingo
site, Tombola, with just over 1 200 average daily
concurrent players, followed by Gala Bingo with around 1
100 average daily concurrent players.
Bingoport
assesses Cashcade’s rise as a notable success story in
the UK online bingo industry, where traditional land
based companies have in the past dominated. The group's
purchase of Herotech and Independent Technology Ventures
for GBP 13.5 million in 2007 saw its portfolio increase
through strategic acquisition, but it has been its
success with organic growth, smart marketing and
strategic innovation that has seen it power to the top
spot in the industry.
“Cashcade has been the
market leader for the past two years in terms of their
innovative online bingo products, promotions and
marketing,” said BingoPort.co.uk managing director and
co-founder, Scott Logan.
“Cashcade took the
industry to another level earlier this year with the
introduction of the innovative free/pay online bingo
site, Cheeky Bingo; which now accounts for 33 percent of
Cashcade’s overall bingo player traffic.”
Patrick
Southon, the m.d. of Cashcade, commented that the
present is just the dawn for interactive online games
like bingo.
"With the addition of mobile,
Interactive TV as well as international opportunities
the future is exciting for companies like Cashcade - a
business which is unencumbered [by debt] when compared
to some of our peers," he added.
Southon has
ambitions beyond the UK, revealing that the recent
launch of new sites like Little Big Bingo and Kiss My
Bingo extends Cashcade's gains in its core UK market,
but that he is also considering wider possibilities.
“We do not want to lose focus on our number one
market, the UK. We are looking closely at Spain and
Sweden but we have a desire to take advantage of the
whole European deregulation”, said Southon.
Online Casino News Courtesy of
Infopowa
More news here.
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