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    Lucky Red Casino sold in an auction

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(1 Vote) was owned by a British casino group before it was sold on the 28th of April, 2011 for a surprisingly low figure of $2.5 million. The domain was bought by an anonymous bidder whose identity has been kept secret. Prior to the auction, it was believed that would fetch more than $10million, and in fact a reserve of $9 million was set for the auction. 


Originally, Media Corporation had paid $20 million for this domain in May 2005 and managed to earn $5.5 million from advertising on the site in just one year. However, there was a large depreciation over the years, in fact Media Corporation valued the domain at $4.25 million in its balance sheets, the main reason being the ban on online gambling in the US in October 2006. 


Although the word “gambling” ranks first on Google searches and gets more than 300,000 hits, Mr. Drummond of Media Corporation stated that “does not contribute too much to revenues at the month, and the value we realise from the sale will allow us to make further acquisitions”. And although the sale meant a one-off loss of $1.75 million, Mr. Drummond maintaned that the company was quite satisfied with the result as the sale resulted in more than adequate financial resources to purchase new opportunities in the gambling industry. 


German broker Sedo were in charge of selling after last year’s sale of for a record of $13million. And although Hugo Dalrymple-Smith, who handled the sale for Sedo had said that: "This is the premium generic domain in a very competitive market. Gaming is one of the leading online businesses, and offers the chance for one company to stand out above others."; the recent sale of for $5.5 million seems to show that specific domain names are at the moment more valuable than generic ones such as 

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