Cashcade Considering Buyer

According to the company, Cashcade, Ltd. is looking to either sell of their company or sell shares in an initial public offering or IPO within the year. They are looking to raise somewhere in the vicinity of $195 million and their advisors believe that this may be the way that the company can successfully do that.

They say that they will entertain bids from both their competitors and private equity firms, but as they have already turned down several offers due to the low bids they urge only serious investors need apply. Chairman Michael Buckley said that they are looking at these options as it is a good time for them to do so.

The company has been looking very strong as of late, so any offers made would have to be for a higher amount than what they have already seen. They are expected to clear more than 40 million pounds this year, which makes them extremely attractive to most serious businessmen.

The company has one major thing going for it and that is its market. They focus on women over the age of 24 – which is a market that has been not been previously tapped for gambling. They know that this group likes the privacy of the online slots and bingo games, and that they look for games where they can be solitary.

With more slots and bingo places not allowing smoking, this brings another element to the mix. These people want to be able to play and smoke at the same time. They can do that with online slots and bingo.

Back to February 2008 Archive.