Cake Entertainment NV recently confirmed that it has entered into a strategic partnership with Free Web Holding Ltd, a company that is licensed in Malta and owned by a number of influential names including Carlo Costanzia and Francesco Merighi. Constanzia is a co-founder of Bwin France and also a popular Italian company called Gioco Digitale, while Merighi founded Play2B Ltd.
This new partnership between Free Web Holding and Cake Entertainment has resulted in the formation of a new company called Cake Next Entertainment Ltd. Cake Entertainment released a statement that said
The company will strive to maintain a customer first focus at the center of its activities with a commitment to the highest levels of integrity, responsibility and value creation.
Over the last few years, Cake Entertainment has seen how volatile the online poker market has turned out to be. The company has experienced major growth as well as significant slumps as the poker industry has been confronted with a number of legal issues and political campaigns that have looked to ban online poker. Cake Entertainment was also the first online poker site during 2006 that had a skin on its own network and tried considerably hard to tied up with a number of leading brands such as DoylesRoom.com and Sportsbook.com.
However, what has affected the Cake Poker network the most has been the challenges posed by flaws in the online payment system and also the strict laws in the U.S. that prevent online poker from operating in all states. These two reasons were significant factors in contributing to a steady decline of Cake Poker’s revenue and customer base. The biggest hit was when the Department of Justice banned all forms of internet poker during the infamous Black Friday during April 2011.
However, Cake Entertainment is positive that it will turn things around with this new partnership with Free Web Holding. The company via its released stated that
the partnership enables Cake Next Entertainment Ltd. to further invest in product innovation, building competitive advantage and responding to the needs of current and future customers, in attempt to obtain the highest levels of customer satisfaction. The company plans to create new opportunities while anticipating the evolution of the international gaming markets, regulated and pre-regulated, to deliver best-in-class products and customizable B2B solutions.
While, Cake Entertainment is yet to reveal its future plans, the company will use both the experience and customer base of Free Web Holding to strengthen its market position in the coming years.