Gambling domain sold to unnamed buyer for $2.5m
Media Corporation, the former owners of Gambling.com, announced last week that the domain has been sold to an unnamed buyer for just $2.5m. The sale is a massive loss to the company, as they paid a staggering $20m for the domain back in 2005. The timing of their initial purchase couldn’t have been worse, as it was bought just before the Unlawful Internet Gambling Enforcement Act of 2006 in the US came into effect. Since then, the site also experienced penalties from Google between 2007 and 2009 for reasons which are still unknown.
Despite the negativities surrounding the site’s history, Media Corporation Chief Executive Justin Drummond remained positive over the recent sale, as it is one of the biggest ‘dotcom’ sales to date. Sedo have also seen the $1m sale of Poker.org to PokerCompany.com, as well as Bodog snapping up Slots.com for $5.5m last year – it was one of the top ten domain purchases in history.
Sedo spokesperson Lisabeth Mack-de-Boer said: “The high sale price paid for Gambling.com is a real confidence booster for the global domain industry.” The unnamed buyers must also see the sale as a positive aspect, with rumours flying that they may have inside information on the legislation of online play in the US. Only time will tell whether the domain purchase will be regarded as a huge bargain or an even bigger mistake.