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Gambling.co.uk: Gambling News Archive

Gambling.com goes up for sale

Media Corporation is to use any profits to fund acquisition opportunities following approaches from fellow online gambling operators.

Monday 29th November 2010



Internet media and advertising firm Media Corporation has signed a deal that will see it sell its Gambling.com online gaming and information portal through domain brokerage firm Sedo GmbH. London-based Media Corporation operates Malta-licensed online casino and poker room Purple-Lounge.com alongside the Eyeconomy advertising network and solutions provider and stated that it would use any funds from the sale of Gambling.com to ‘fund acquisition opportunities’. “While the group has received a number of very significant indicative offers for Gambling.com, the board believes that a formal auction process with the world's leading domain name broker will achieve the best possible outcome and valuation as Sedo is uniquely positioned to present the domain to global gambling brands and other qualified buyers,” read a statement from Media Corporation. With over one million registered members, Sedo conducts trades in 21 languages via its Sedo.com domain with customers in over 200 countries. The firm recently completed the sale of a comparable top-level domain for $13 million and stated that it anticipates Gambling.com ‘could also achieve an attractive valuation relative to the current market capitalisation of the group’ due to the ‘global appeal and substantial revenues generated by online gaming’. “While the group has significant cash reserves, we have recently seen a number of exciting acquisition opportunities in the online gambling and online advertising space,” said Justin Drummond, Chief Executive Officer for Media Corporation. “The successful sale of Gambling.com will give the group significant financial resources to pursue these acquisition opportunities.”




Source: OnlineCasinoNews

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