KAX Media acquires Gambling.com
17 May 2011
LONDON (PRESS RELEASE) -– Online gambling publisher KAX Media has acquired the domain Gambling.com for a sum of $2.5m (£1.5m) from Media Corp plc (LSE:MDC). KAX Media adds Gambling.com to its portfolio of iGaming portals that include WSN.com (World Sports Network), CasinoSource.co.uk, and CasinoSource.ie.
KAX plans to aggressively grow Gambling.com through improvements in conversion rates and more targeted traffic acquisition. Gambling.com will continue to operate exclusively as a portal for online gambling and only within regulated markets. While currently focused only on the United Kingdom, KAX plans to ultimately expand Gambling.com worldwide to all regulated English speaking markets.
The KAX Chief Executive, Charles H Gillespie, said “Gambling.com ticked all the right boxes and provided an immense amount of intrinsic value. Due to our previous experience looking at similar transactions we realized that it instantly made sense for us and were able to act quickly.”
Gillespie added, “It was an easy decision given the price. KAX has a conversion tracking software platform that was purpose built to run this exact kind of site, allowing for an easy transition to our current business and technology platform. We felt that KAX was the perfect organization to maximize the value of Gambling.com.”