According to a German language press release sent out by Sedo this morning, the company has succesfully brokered the sale of the domain Gambling.com for $2.5 Million USD on behalf of the British Media Corp. The new owner wishes to remain anonymous – no surprise considering the recent actions of the US government against online gambling. The whois seems to still list the old owner at this point.
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As reported in November, Media Corp is planning to sell their domain Gambling.com with the help of Sedo in order to fund further acquisitions. According to The Times (paid access) it appears that the reserve has now been set at $9 million USD, which is less than half of the original purchase price for the site for $20 million USD in May of 2005, according to the Wall Street Journal on The Australian.
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Known for selling (and buying) Domain Names such as Casino.co.uk for £3.62 MM ($5,7MM USD) million and Casino.de for €400,000 ($532,840 USD), public company Media Corp (LSE:MDC) is now looking to sell Gambling.com as reported by PaidContent.org. In 2008, the company bought Sport.co.uk for £135,000 ($212,460 USD).
CEO Justin Drummond, in his announcement, says: “Whilst the group has significant cash reserves, we have recently seen a number of exciting acquisition opportunities in the online gambling and online advertising space. The successful sale of http://www.gambling.com will give the group significant financial resources to pursue these acquisition opportunities.”
Drummond says Media Corp had already received approaches for Gambling.com. It’s now appointed domain warehouse Sedo to broker a sale.
The company has £2.2 ($3.46) million in cash and reported an annual gross profit of £6.3 ($9.91) million on £25.6 ($40.28) million income.
[via Paid Content]