Foxy Bingo and Wink bingo are just a few of the online gaming sites that Cashcade operates. Cashcade is one of the biggest gaming firms in the industry and they have accumulated a good deal of debt. The company may be up for sale very soon to pay off their debt.

Independent News and Media is the owner of Cashcade and they have amassed a debt of $1.8 Billion. The Telegraph recently released a report that stated Independent News and Media is looking to improve their finances and they want to eliminate their loss making businesses.

Directors have seen pay cuts and all bonuses have been banned at the company. The company has two months to pay back the $263 million in bonds they have accumulated. Although the bingo websites have been doing well Cashcade may still be sold off for the company of Independent News and Media to cut their losses in the current economic state.


- 2009-02-02