Archive for the ‘Bingo News’ Category

Party Gaming Purchase Cashcade

Sunday, November 29th, 2009

PartyGaming purchased Cashcade in a high profile acquisition recently, and according to Internet gambling experts this was quite an interesting move to say the least. PartyGaming has given Foxy Bingo an unprecedented 71.9 million pounds with the promise of an additional 24 million pounds if performance objectives are met.

This acquisition will improve the business-to-business relationship as well as its relationship with customers since the entire party network will be able to take full advantage of the products and skills being offered by what is considered the best UK bingo operator around. According to sources, Foxy Bingo is not only the best bingo operator in the UK, but its latest earnings statement reflected more than twice the earnings of its closest competitor. What some call a strategically interesting move, others call just plain genius, but only time will tell if this was a huge success or a huge blunder.

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Online Gambling Companies Hope to Prosper

Friday, November 27th, 2009

Companies running online gambling sites are working towards a consolidation over the next few years. These firms are hoping that with broadband Internet spreading far and wide, along with the new reforms in assorted governments, it will allow the growth that this industry has been aching for in recent years. In previous years, the industry has come under fire at the hands of new laws and recent recessions, but they feel that things are looking up as even France, a country that previously lead the charge in prosecuting online gambling activities, is now looking into passing laws that would bring online gambling into a regulated market.

Italy has recently joined the group of countries that are benefiting from online gambling with recent additions of poker and a few other games last year. Italy is also making strides toward allowing traditional casino and bingo games in the near future. Online gambling has seen huge opportunities being presented to them since the smoking ban in Britain. When gambling participants were interviewed by multiple sources they stated that they would rather stay home to smoke and gamble then go out to a casino to follow their rules while trying to relax and enjoy themselves. Others stated that they would rather not even take the trip at all since they bet on sports and the Internet makes that much easier.

Although the internet gambling industry is seemingly on fire, in many areas it is seeing drop-offs due to the recession, much like in house gambling establishments. Industry leaders are saying that they are not worried for one main reason, the spread of high speed internet. Online gambling firms say that for every person that cannot afford to utilize their services anymore, there are two more that are itching to gamble with them once broadband is available in their area, which in most areas is soon. This will take patience but firms feel that it will pay off huge in the long run.

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Internet Gaming Company Has Big Plans to Grow in Europe

Friday, November 27th, 2009

According to recent reports, 888 holdings, an online gambling company, is looking to expand its operation into France and Italy. According to the Financial Times, France is the first place that the company will try to obtain a license. Once a market is opened up they will start to push harder into Italy, which is considered a great place for future growth.

It is likely that France is going to be the main focus over the next few months since it is starting its trek towards online gambling. The plan is to begin with smaller things like sports betting and poker but will eventually grow into areas such as bingo and even casino gambling. According to sources, 888’s CEO, Gina Levy, feels that the company has enormous plans for France and their plans for Italy are even bigger still. The company would like to enlarge their investments in the United Kingdom in addition to Europe as a whole.

Though the company’s operating income has decreased about 10% over the recent quarter, when compared to the same quarter the previous year, the current quarter is showing great promise. As it stands now, the daily revenues for 888 Holdings, as well as their player recruiting numbers have increased 8% this quarter when compared to last. According to analysts the firm is making marked progress but there is still reason for concern when looking at the prospects for trading.

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