News Corp Sells Gambling.com For $2.5 Million

UK-based Media Corp. has sold the gambling.com domain name for $2.5 million (£1.5 million) to an unknown buyer.

It comes as no surprise that the domain fetched such an high price as online gambling is one of the dominant internet businesses, along with adult entertainment.

According to a report on TechRadar, the sale was handled by Sedo UK, which previously handled the $13 million sale of sex.com and $3 million sale of vodka.com.

“We are very pleased with the result of the sale of gambling.com. The team at Sedo has made the negotiation process as straightforward as possible and have helped us secure a great price for the domain,” Justin Drummond, CEO, Media Corp. said in a statement.

Media Corp. is an online advertisement and online gaming firm based out of the UK. The company said that the recent domain name acquisition has significantly boosted its cash reserves and it now plans to make strategic acquisitions that will allow it to expand in the advertisement and gaming domain.

The buyer has chosen to remain anonymous for the time being. It seems unlikely that a company would spend so much on a domain name without intending to use it, though Media Corp had been sitting on i, viewing the domain as an investment, before the sale.