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Faith In The Gambling Industry
Two investors in the online gambling business with confidence in the future are Justin Drummond and his wife Alexandra, who last week upped their stakes in Internet advertising group Media Corporation, which owns the information portal Gambling.com.
According to the Business Scotsman, the duo bought an additional 1.5 million shares in the company for an undisclosed price, although the stock price has been trading around the 1p level according to public records - down more than half over the past year.
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The purchases took their combined holding up to more than 24 million shares, or 8.3 percent of the company.
Drummond is CEO and a founder of Media Corporation, and the cause for his optimism appears to be that following the change in government in the United States he feels there's a good chance that we will see US legalisation of online gambling sooner rather than later. This could have a significant impact on positive impact on Media Corporation's business.
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