Casino News Put Up for Sale

By: Ryan Alders, Wednesday January 5th 2011
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Towards the end of 2010 it was reported that the current year will see many domain name sales. We are not even through the first week of 2011 and there is unconfirmed news of a possible sale of one the most attractive domain names is owned by Media Corporation. The company has hired the domain auction specialists Sedo to conduct the sale. Though Media Corporation has indicated a reserve price of $9 million, its CEO Justin Drummond is expecting something upwards of $10 million. What is in the realm of speculation is who has shown interest in acquiring Some reports indicate that private equity companies have shown intent. The names of the leading UK online gaming operator Bet365 and leading online casino software provider Playtech have also been mentioned. However, the offers that have come are around $6 million, way below the reserve price. has to be one of the most desirable domain names in the online gambling industry. Media Corporation has indicated that it has exceptionally high Google search ranking and attracts over 300,000 unique visits a month. Hugo Dalrymple-Smith, who is Sedo representative in London handling the sale, said, "This is the premium generic domain in a very competitive market. Gaming is one of the leading online businesses, and offers the chance for one company to stand out above others." Therefore even the reserve price of $9 million does not appear outrageous. In fact Media Corporation itself is said to have paid $20 million for in 2005. It generated $5.5 million in advertising revenues on the domain in the following year.

Another factor that affects the value of a domain name is whether or not it has a business attached. with no business attached was sold by Sedo in an auction to an unidentified buyer for $13 million. It is reported that, which had an attached business, went for $16 million. is an up to date information portal that covers various online casino games along with poker, bingo and sports betting. Market leaders like Bodog, Platinum Play and Go Casino advertise at the portal.

So why does Media Corporation want to get rid off According to the company the imposition of the UIGEA in the United States forced Media Corporation to exit the American market. This also led to a devaluation of the portal. Drummond said, " does not contribute too much to revenues at the month, and the value we realize from this sale will allow us to make further acquisitions." Media Corporation owns the Purple Lounge online casino and poker room powered by Microgaming.

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