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Hi all,
After over three years promoting casinos with casinosage.com, casinosage.co.uk, and euro.casinosage.com, I've decided to get out of the online gambling industry. I'm selling Casino Sage and all of it's assets in an auction on Sitepoint.
If you're interested in adding this great site to your portfolio, check out all the details here: http://www.sitepoint.com/marketplace/auction/262
Thanks,
Nate
I've been following the auction for casinosage, so thought it was worth pointing out the auction is nearly closed in case anyone here has a last-minute interest. Right now the current bid for the site (and the open affiliate accounts) is at US $21,200 - which is around two times current annual earnings for the site without much promotion or current care and feeding.Quote:
Originally Posted by NateClark1
Casino City bid earlier in the process, but for us owning the site would pose some challenges since we don't operate using affiliate programs that pay a percentage of player losses - part of our strategy for being squeakly clean as a high-profile site. Means we dropped out of the bidding early since we would need to ignore the current revenue stream, which would be a good asset for probably every other bidder.
Michael
Well, the auction for casinosage has closed with a final bid of $26,500, or around three times annual earnings.
There were several serious bidders trying to take home the prize, so the whole process was fascinating to watch. Nate, I imagine you are pretty happy with the outcome. Certainly from what I saw I would recommend the use of sitepoint to auction off a site in this type of price range, as long as it was coupled by some publicity on sites like the GPWA to create awareness of the auction.
Michael
THREE times annual earnings? That's pretty good, but is that normal?
Actually, I meant to say three times sales, not three times earnings, and that is much more impressive.
For a small business, one times sales is not unusual, and three times sales is amazing. In this case the bidders were after the infrastructure, and the view was that the site was not promoted well, so with a little effort and using the infrastructure in other places, the price could be justified.
This price definitely reflects using the purchase as a vehicle for generating additional revenue above and beyond what the site currently generates.
I think the price was excellent value for money. CasinoSage has been around for a number of years, has a DMOZ listing and with enough time dedicated to SEO, could seriously start to make an impression in the serps.
Guys, sorry I haven't followed up back here since my original post. Yes, Michael, you're right -- the auction was fascinating to watch. And I am very pleased with the outcome.
Sitepoint (www.sitepoint.com) has been a great resource to me over the years as far as web programming, and this was the first time I tried thier new online auction system for buying and selling websites. I think the experience was very good, and I would do it again if I had another site to sell.
I'm currently in the process of finalizing the sale with the winning bidder. There were a few very interested buyers, and I feel bad that only one can win. But, that's business!
I thank you all for your support. I'm sad to be leaving the online gambling industry -- but I'm also excited for new opportunities that I have on the horizon.
Goodbye and good luck!
Nate Clark
nate@nateclark.com
Congratulations on the sale Nate. Great price!