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Cashcade on Verge of Securing Online Gambling Funding12 July 2002UNITED KINGDOM – As reported by New Age Media: "Online gaming firm Cashcade is on the verge of securing six-figure funding and is in talks with several media owners about launching white-label online casinos and Web-based bingo. "The financing will come from private investors, with the business expected to be valued at £10million (US$6.45 million). "…On the back of the funding, Cashcade has changed its focus from only operating games Web sites and it is now repositioning itself as a business-to-business white-label games supplier. "It has already tied up with offshore gambling group Victor Chandler to license out white-label versions of its Java-based casino service, The Spin Room. "…In the next few weeks Cashcade will be launching an online casino for The Racing Post on its Smartbet portal and is preparing to roll-out bingo and pay-to-play games to a host of other portals…" |