Cashcade Leading British Bingo Market

Tuesday July 21, 2009

UK Online Bingo authority BingoPort released data today showing that the online bingo company Cashcade Ltd has taken a sizeable lead in terms of commanding online bingo players in the United Kingdom.

Cashcade, which operates well known online bingo brands such as Foxy Bingo, Mirror Bingo, Think Bingo and Cheeky Bingo, has been consistently hosting over 2,500 average daily concurrent users in its 7 online bingo networks in the 3 months to June 30, 2009; representing around 23% of the total UK online bingo market share.

The next closest competitor is the stand alone bingo site, Tombola, with just over 1,200 average daily concurrent players followed by Gala Bingo with around 1,100 average daily concurrent players.

Cashcade's rise has been a notable success story in the UK online bingo industry where traditional land based companies were expected to dominate. Cashcade's purchase of Herotech and Independent Technology Ventures for £13.5M in 2007 saw their portfolio increase through strategic acquisition but it has been their success with organic growth, clever marketing and strategic innovation that has seen them reach the No.1 spot in the industry.

"Cashcade has been the market leader for the past two years in terms of their innovative online bingo products, promotions and marketing," said BingoPort Managing Director and co-founder, Scott Logan. "Cashcade took the industry to another level earlier this year with the introduction of the innovative free/pay online bingo site, Cheeky Bingo; which now accounts for 33% of Cashcade's overall bingo player traffic."

Managing Director of Cashcade, Patrick Southon, also speaks confidently of the future. "It has taken hard work to get to this point, but I feel this is still the dawn for interactive online games like bingo. With the addition of mobile, Interactive TV as well as international opportunities the future is exciting for companies like Cashcade a business which is unencumbered when compared to some of our peers".

With the recent launch of new sites, Little Big Bingo and Kiss My Bingo, Cashcade is set to extend their gains in their core UK market; however the company is also looking to expand into other burgeoning bingo markets.

"We do not want to lose focus on our number one market, the UK. We are looking closely at Spain and Sweden but we have a desire to take advantage of the whole European deregulation", said Southon.

With such a huge gap between Cashcade and their competitors appearing in such a short space of time, Logan believes this is testament to Cashcade's clever marketing and innovation in an increasingly competitive marketplace.

"We expect Cashcade to continue their rise in not just the UK market, but in other markets throughout Europe in the years to come", said Logan.