Perhaps the biggest domain name sale of 2011, Media Corp’s gambling.com, is getting ready to make headlines.
Just hours ago, Media Corp announced its final results for the year ended 2010 through a press release.
While the company showed a better overall performance for its business than the previous year, and gross profit increased by 456%, what’s on the minds of many in the domain name and gaming industries, is what’s going on with the auction of gambling.com?
According to the press release, here’s what Media Corp had to say about gambling.com.
- 2010 Business highlights– Removal of the Gambling.com Google penalty, Re-launch of Gambling.com website
- Online Publishing–The business of the publishing division has continued to be challenging during the year. As announced post year end we are undertaking an auction for the sale of Gambling.com. There have been a number of bidders and the Directors anticipate the auction process to be nearing completion at which point an announcement will be made. The Board is also considering the sale of other underperforming publishing assets and this review will continue through 2011.
- Current trading and prospects– The Directors are hopeful of a successful conclusion to the auction process for gambling.com which should strengthen the cash position and balance sheet of the Company and provide capital for further expansions.
Gambling.com, the auction process
Though it’s not 100% official, the sale of gambling.com will almost certainly be more than a pure domain sale. A website has been established on the domain since 1997. Gambling.com has even sold before in 2005, when Sedo brokered the blockbuster deal for $20MM.
Media Corp put the domain gambling.com up for sale in November 2010, as it says, to fund acquisition opportunities following approaches from a number of online gaming companies. In hopes of getting the best sales outcome, the company appointed Sedo, the World’s leading domain marketplace, to handle the sale.
Media Corp announced its first quarter 2011 results at the end of January, and indicated that a sale for gambling.com would complete during the second quarter of the financial year (which, it didn’t).
However, expect a lot more news on an impending blockbuster deal in the very near future.
One potential buyer, who had been rumored to be interested, is billionaire Calvin Ayre who acquired the domain name slots.com in 2010 for $5.5.