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Cashcade, the operator of the top bingo site, Foxy Bingo, has won the coveted Bingo Operator of the Year award at this year’s EGR (eGambling Review) Awards. The prestigious title was given to Cashcade at the Old Billingsgate Market in London at a lavish gala dinner and ceremony, attended by hundreds of top names in the online bingo and casino industry.
Cashcade beat strong competition to take the award, among them chief rivals such as Ladbrokes Bingo, William Hill Bingo and Wink Bingo, as well Gamesys which runs Jackpot Joy.
The Foxy Bingo operator was hailed as the “stand out market leader at a marketing brand level”.
Cashcade was acquired by Party Gaming in July for an initial payment of £71.9 million, and an additional amount of up to £24 million, depending on the group’s future performance. If this latest prize is anything to go by, it seems that Cashcade is not going to disappoint in that department.
At the time of the acquisition, the Chief Executive Officer of Party Gaming, Jim Ryan said: “Cashcade provides us with an excellent platform to build a meaningful share of the US$1.5bn global online bingo market. Our M&A objective is to acquire companies that can put us into a top three position in each of our four product verticals and deliver substantial revenue and cost synergies.”
Foxy Bingo, Cashcade’s flagship online bingo site, is considered the leading bingo site in the Unite Kingdom, with the most number of concurrent players among all online bingo rooms in the county.
Cashcade hosted over 2,500 average daily concurrent users in its online bingo networks in a three month time frame, according to July statistics.
Over and beyond the fact that Cashcade is considered a market leader, the EGR Awards also noted recognized the group for increasing its number of bingo networks from seven to eight, including the launch of Cheeky Bingo.
The group was also honored for hosting a number of high profile marketing campaigns such as the sponsorship of BBC’s Red Nose Day – a massive scale event.
Party Gaming also won Poker Operator of the Year for its Party Poker brand.
“PartyGaming and Cashcade are worthy winners of the industry’s premier EGR poker and bingo award,” said EGR. “PartyPoker proved resilient in 2008/9 and maintained its position as the largest non-US, standalone poker site. Cashcade was a very smart acquisition, complementing PartyGaming’s market-leading PartyCasino and PartyPoker products.”
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