Caschcade Acquires Herotech and ITV -- Cashcade, owner of FoxyBingo.com, has purchased HeroTech, which owns bingo portal OnlineBingo.co.uk. Cashcade also said it had purchased Independent Technology Ventures (ITV), which owns ThinkBingo.com, Bingo Slotland and Think Bingo Plus. The company said it acquired both businesses for £13.5 million. "These acquisitions are an important step forward in our growth," said Cashcade Managing Director Peter Southon. " . . . we can now offer our customers a wider product selection and position ourselves at the forefront of the emerging bingo industry.
Scientific Games Releases Q2 Results -- Scientific Games has released second-quarter results, which show a 13 percent jump in revenue to $269.6 million, up from $239.6 million during Q2 2006. The company reported EBITDA of $84.3 million, up 21 percent from 69.6 million during the previous-year period. "Italy continued to achieve record sales and our 20 percent ownership of the consortium contributed approximately $10.4 million in equity income during the second quarter," said Scientific Games CEO Lorne Weil. "It has truly exceeded our initial expectations, and serves as a model for future international growth opportunities such as China, Mexico and Germany.
Crypto Acquires Interest in 568 -- CryptoLogic has acquired a financial interest in China-focused casual games distributor 568 Network. The agreement, valued at $1.2 million, gives Crypto the option of taking a controlling position in 568 in the future. "The stakes are rising in Asia, which has a population of almost four billion, a deep-rooted gaming culture and a fast-growing rate of Internet adoption," said Crypto CEO Javaid Aziz.
Income Access Partners with Ladbrokes -- Affiliate software provider Income Access has added Ladbrokes to its affiliate network.
Day in Court -- Attorney Lee Rousso, who has filed a lawsuit against the State of Washington challenging the constitutionality of the state's Internet gambling ban, has a hearing set for Sept. 21. Rousso said he hoped for an Aug. 31 court date, but Sept. 21 was the earliest date available on the judge's calendar.
Stock Watch -- On the LSE, Neteller was down 3p to 65.75, PartyGaming was up 0.25p to 28.75 and 888 was down 1.75p to 113.