Cashcade Takes Online Bingo Leader Title - 07-23-09

July 23 - If there was any question of who is king of the bingo world in the United Kingdom, a recent report conducted gave all the answers this week.

It was found that the online bingo company, Cashcade is the undisputed leader in the UK bingo market, representing around 23% of the total bingo market share. The group hosted around 2,500 daily concurrent users in the last quarter at the seven online bingo networks that it commands.

One bingo analyst noted: "Cashcade has been the market leader for the past two years in terms of their innovative online bingo products, promotions and marketing. 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% of Cashcade's overal bingo player traffic."

The company that comes closest to Cashcade in terms of competition and market grabbing is Tombola, which has 1,200 daily concurrent players, followed closely by Gala Bingo with 1,100.

"It has taken hard work to get to this point, but I feel this is still the dawn for interactive online games like bingo," said the Managing Director for Cashcade, Patrick Southon. "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 when compared to some of our peers."

Cashcade has been involved in a bidding process for three months for the unconfirmed price of GBP 80 million. It was announced yesterday that Party Gaming will buy Cashcade.

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