The popular Costa Bingo room has been sold off, along with the remaining sister bingo sites in the group. We are of course talking about the recent deal that sees the sale of all Mandalay Media sites to Intertain.
The Intertain Group have signed a deal to take over Costa Bingo, Fancy Bingo, and the recently launched Rio Bingo. This sale of bingo sites has been agreed for an initial payment of £45 Million in cash.
This is not the first sale of online bingo sites to the Canadian gambling group. It does though signal the direction that Intertain is looking to take in the UK Bingo market.
The Online Gaming group is closely associated with Amaya also run Inter Bingo and will be looking to move their current bingo offering to the new bingo platform.
Online Bingo Sites Sold Recently
Other major bingo room sales include the sale of Foxy Bingo to Bwin Party and Wink Bingo to 888 Holdings. All of these sales occurred on Dragonfish Bingo powered rooms.
Although these bingo rooms make use of the same bingo software, they are not part of the Dragonfish bingo network. They are stand-alone rooms which mean they set their own bonuses and promotions.
Costa Bingo has recently run a massive advertising campaign featuring Mel B in a giant format around London.
Costa Bingo Costs £45 Million Upfront
The sale of the bingo network also seems to include the Casino Choice Affiliate portal as well as the Ignite Affiliate Management part of the bingo business.
Apart from the first payment of £45 Million for the business, an extra fee of up to £15 Million is payable dependent on the future performance of the business. No details of the sale agreement have been released.
It does, however, illustrate the popularity of the game of online bingo in the United Kingdom and the fact that regulating and taxing bingo games is the way to go.Whatever way you look at it, this is going to Costa lot of money.