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Online Casino Conditions >>> Betting News >>> November News


Online Casino Gambling Portal Reports Record Online Profit

by Sheri Smith, News Staff
Writer
November 1, 2006

Formerly known as Gaming Corporation, current owner of Gambling.com, Media Corporation, has announced the companies plans to expand its resources in the global online casino gambling market. Having experienced record annual, after-tax profit totals since September 2005, Media Corporation has found itself in an excellent position to allocate more financial resources into an increasingly diversified online gambling industry. With a new staff on board specifically directed to expand Gambling.com's presence through global marketing, Media Corporation plans to shatter the company's profit record this time next year once again.

To get an idea of how fast the company is growing, a cash balance of £400,000 was recoded in 2001, which at the end of September 2005, was up to £5.2 million. That is a forty-times growth increase in just four years. Generating its finances from advertising and gaming portals alone, Media Corporation has been playing their cards right since day one.

Chief Executive Officer of Gaming Corporation, Justin Drummond, referred to the companies "strong performance" in terms of media and advertising partnerships, and its increased financial stability as telling signs for the company to begin considering acquisitions and continued organic growth in a global online gambling market. Drummond announced that in keeping with Gambling.com's mission to provide search targeted information, the site will be diversifying its own offering of gambling related services, whether that be online casinos, sporting odds, or Las Vegas casino resort reservations.

Considering the recent passing of the Unlawful Internet Gambling Enforcement Act in the U.S., Media Corporation says they are still evaluating what this could mean for their current business operations. As of yet, click through rates and overall online traffic has not significantly changed, and growth continues at a steady pace. The company is playing it safe, however. Now, U.S. players trying to access Gambling.com from states where online casino gambling is specifically prohibited (New York, New Jersey, South Dakota, Louisiana, Washington, Nevada, Oregon, Indiana, Illinois, Wisconsin and Michigan) are blocked from accessing the site.

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