Boss Media Deal
Online bingo operator Boss Media’s board of directors is recommending the latest deal being offered by GEMed. The offer has recently been revised by GEMed and has a higher valuation for the company. According to Bingostreet, the new offer values the company at 149 million Euros which is 32 percent higher than the previous offer.
The State of Bingo in the United Kingdom
The state of bingo in the United Kingdom is not good. Bingo operators in the United Kingdom are having problems with their land-based operations. They were hit hard by the new regulations which limited the number of high paying fruit machines to four per establishments.
What’s New at Gala Bingo
Gala Bingo online has a lot going on. The online site has a variety of specials going on at any one time. Every Thursday, they offer free bingo. There is a schedule published on their website that applies to certain clubs and the time and rules that applies to the free bingo games. There is a twelve ticket max rule that applies to the games.
Entraction to Offer Online Bingo
Entraction Holding Ab is a gaming group registered in Sweden. They were formerly knows as 24hPoker Holding. The company is a software company that develops proprietary software systems for online gambling sites such as Legato Poker, Betting247.com, and Asso Kappa.
Get Matched at Glamour Bingo
Glamour Bingo has a new promotion where it offers a 100 percent match bonus on all deposits. This offer applies to new and existing accounts and also applies to all kinds of deposits during the month of February. Deposits must be of $20 or more to qualify.
Play for Charity at Crown Bingo
Crown Bingo has a unique Valentine’s Day special. The site is donating half of its Valentine Day prize pool to a local charity. This applies to games played between 19:00 to 21:00 GMT in the Second Room. For any new players that sign-up for the Crown Bingo site during the evening, there will be a ₤10 donation to the North East Variety Club Children’s Charity. In addition, new players will receive a 100% match bonus on their first deposit up to ₤250.
Cashcade Looking to Sell
Cashcade is the operator of Foxy Bingo which is the second largest bingo website in the United Kingdom. The company is looking to ‘monetize shareholder value’ according to a Gaming Intelligence report.
They are looking at an IPO of shares or an outright sale of the business, says Chairman Michael Buckley who says they will consider an offer from either a competitor or from a private equity firm. The company also operates GetMinted, Mirror Bingo and Think Bingo which are also based on software by IGT and 888 Holdings. One of their current shareholders is the Dublin based Independent News and Media Plc. Mountgrange, a London-based property company also owns about eighteen percent.
The company has a predominantly female base of more than 800,000. It targets women of twenty-four and over for its market and has revenues of more than ₤40 million for the year. The company has been experiencing good growth, mainly due to the fact that broadband access is more readily available in the UK and the smoking ban has caused many players to switch to online play. In addition, the company provides online gaming services for various clients like Trinity Mirror.
Mr. Buckley says the company has received offers in the past but they have been too low. He figures the business should be worth at least one hundred million pounds and feels that the time is right for the company to sell since business has been so good for them.
888 Ladies Bingo is Popular
A good fourth quarter in 2007 has been reported by 888 Holdings. The good performance is being attributed to the opening of 888 Ladies Bingo, the company’s new online bingo site. The site is attracting hundreds of new sign ups on a daily basis. A large part of the 55% gain in revenues is being attributed to 888 Ladies Bingo which is, obviously, a site geared toward the ladies.
The site offers 75 ball bingo and 90 ball bingo and other games and has been very popular with the ladies since its opening. There are tutorials that teach people how to play the various games, as well as team and tournament play. There is also an active online community and a good chat facility.
888 Ladies Bingo was part of 888 Holdings answer to how to fill the gap crated by UIGEA. The loss of the huge U.S. market meant that 888 Holdings, like other gambling firms, had to find ways to make up for the loss of income from the U.S. market. A bingo site for the ladies with large jackpots and goods promotions was part of the answer for 888 Holdings.
Other properties in casino and poker also contributed to the growth of revenues for the company. So far for the first quarter of 2008, there is a 17% increase in casino and poker, with the bingo site growing on a daily basis. 888 Holding is looking forward to a good year in 2008.
Online Charity Bingo
Big Heart Bingo is an online bingo site launched by Gaming Ventures. The site is licensed in the EU and looks like any other online bingo site in that it allows players to play for free or for real. But Big Heart Bingo is a charity gaming site.
Gala Bingo to Close Bingo Halls
The smoking ban in the United Kingdom has claimed some further casualties. Gala Coral is expected to close five or more of its bingo clubs this weekend. The clubs that will be closed are the poorer performing clubs and among them will be the West Granton club in Edinburgh, the Winton club in Bournemouth and the Bedminster club in Bristol.
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