Rumors aren’t true that 888 will be buying Foxy Bingo

Written by: Nikola Zugic on 24/07/2009 22:00

For several months, the whole bingo business has been speculating who will be buying the company that owns Foxy Bingo, Cashcade. But now, 888 Bingo has already announced they won’t be buying Foxy Bingo after all. It doesn’t mean that they are not interested to buy the bingo site but because they are not willing to pay more than what other competitors are willing to pay. Let’s learn more about this news below.

Gigi Levy, the Chief Executive of 888 Bingo has already told the public they won’t be in the running to buy Cashcade, the parent company of Foxy Bingo. They have explained that there were other companies who are more willing to pay a higher price than they were willing to offer. While their company, 888 is interested to acquire Cashcade, there were more eager companies who wanted the bingo company as well. They even had to undergo bank financing just trying to buy Cashcade. That’s why for months, the bingo insiders thought that it would be 888 who will acquire Cashcade. But now, we just have to say goodbye to that thought. As for who will be getting the company, we have yet to know. We’ll see in the coming weeks or months who will be taking over Cashcade and their hot online bingo site, Foxy Bingo.

Foxy Bingo has just received several recognitions and awards and so a lot of companies are very much interested to get their hands on the online bingo company. Some of the interested parties include Party Gaming who will probably complete acquisition within the next couple of weeks. Of course, who wouldn’t want to acquire one of the leading gaming companies in the country with bingo sites such as Foxy Bingo, Think Bingo, Cheeky Bingo, and Little Big Bingo to boast?

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