Gaming Corporation jumps 5% on news that it plans to expand its gambling portal empire with the acquisition of Newbold Enterprises, which owns the Gambling portal.

Gaming Corp (GMC) will pay £10.5 million for Newbold, comprising of £8 million cash and 17.4 million new shares. Newbold's current owner has agreed not to sell 7.4 million of the new shares for at least six month and the rest will be placed with institutional investors.

Gambling.com is a portal that refers its users to other gambling sites where they can place a bet or play a game. It has more than 500 international affiliate sites, a database of 200,000 members and is the first referral when the word 'gambling' is typed into Google.

Gaming Corp currently runs the casino.co.uk portal, which is the UK's number one gaming website, and has also recently launched findpoker.co.uk to capitalise on growth in that area.

Like Gaming Corp's other portal sites, Gambling.com charges its customers for every one of its users that clicks through from its site to them. Newbold also has technology that allows its affiliate sites to create and self-manage their pay per click search-listings on the Gambling.com site.

Gaming Corp's shares have enjoyed an incredible run so far this year from a low of 2p in February. Today's news has sent them up 0.75p to 15p.

Citywire previously reported how AAA-rated shrewdie Giles Hargreave helped spark the shares' tremendous run by buying a 10 million shares that were overhanging the market. Following recent events there seems to be little worry about shifting that quantity of stock.