11|25|2010 03:14 pm EDT
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]