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A United Kingdom company, Media Corp, is looking to sell the highly enticing Gambling.com domain name and expects to fetch well over $1 million for it. Media Corp is looking to fund other acquisition efforts through the sale.
The shares for Media Corp rose by 6.25 per cent on the London Stock Exchange following the company’s announcement.
Justin Drummond, the Chief Executive Officer of Media Corp. said that "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 gambling.com will give the Group significant financial resources to pursue these acquisition opportunities."
If the sale of domain name Casino.co.uk by Media Corp is any indication, Gambling.com should go for several million dollars. Casino.co.uk sold for a whopping $5.7 million.
“Based on that sale, one would expect the Gambling.com domain to be purchased for over $10 million considering the UK-focused domain went for such a huge price and only targets a limited audience,” observed Payton O’Brien, Senior Editor of the Gambling911.com website (not to be confused with Gambling.com).
Gambling.com is owned by Search Focus Ltd, based in Jersey, and is a wholly owned subsidiary of Media Corporation, which is also the parent company of the online poker room Purple Lounge.
- Aaron Goldstein, Gambling911.com
