IN&M Sells Off Its 18% Cashcade Stake

Independent News & Media has deposed of  its 18% stake in the British based online bingo company Cashcade  £13.2m to Party Gaming. The actual final sales amount could be increased depending on Cashcade reaching specific profit targets. Cashcade runs perhaps some of the most popular online bingo brands in the UK  including Foxy Bingo, Think Bingo and the pioneering free-to-play site Cheeky Bingo.

Many see the purchase by Party Gaming as one of the first steps to stengthen their position in the UK gaming sector after a few years of decline.