Media Corporation, the advertising and publishing company, has sold Casino.co.uk and its related portal assets to Gaming Portals for £3.62m. The company sold the business in order to concentrate on developing its gaming portal, Gambling.com.
The company is also keen to focus on its advertising businesses, which include online advertising and media company Eyeconomy and diversify into other markets.
Media Corp will receive an initial payment of £3m in cash, with an additional £625,000 payable after six months, subject to achieving performance targets.
Casino.co.uk made gross profits of £620,000 for the year ending September 2006.
Media Corp’s other websites include creditcardexpert.co.uk and flightcomparison.co.uk.
Gaming Portals is a subsidiary of Cryptologic Ltd, an e-gaming software developer and software company.