Foxy Bingo Step Up Marketing Activity
According to one online bingo portal, it appears that online bingo growth has actually bottomed out and is presently stalled. Numbers indicate that only a 1% growth in the industry was achieved in the last three months of 2008. This was reported in a quarterly report for UK online bingo sites. However it appears as though this has only encouraged online bingo sites to offer bigger and better promotions, and Foxy Bingo is definitely ahead of the pack.
July to September of last year saw a growth of 10% in the numbers of players joining and playing at online bingo sites, so one can understand the concerns being expressed by the industry, if you look at these contrasting growth figures. It has also been reported that prize pools had dropped but this is understandable if the amount of players is less, as prize pools are often based on ticket sales. Foxy Bingo however are more active than ever, they have been involved in a huge advertising campaign and during the month of February are pledging that they will give away ₤1 million worth of guaranteed jackpots.
According to the source, this is the first development leading them to the understanding that the UK online bingo market is feeling the pinch of the recession taking hold. It will more than likely also see a period of mergers and acquisitions taking place across the country.
Strangely enough one of the major share holders of Cashcade, the company which operates Foxy Bingo is thinking of selling their shares in the company. Admittedly they have a rather large mortgage repayment falling due, and this appears to be the reason for the sale of the shares, not necessarily a slump in the online bingo market in the UK.
