MediaCorp said Google had imposed a penalty on and that pushed them down its search rankings, resulting in lower traffic and revenues.
The company said this morning that the penalty had been imposed for unknown reasons in October 2007. It was lifted last Friday.
Google was unavailable for comment this morning.
MediaCorp said the decision to remove the penalty should result in improved revenues for the sites.
In the year ended September 2007, Gambling.com generated a gross margin of £1.1m but this fell to £410,000 in 2008. Creditcardexpert.co.uk generated a gross margin of £165,000 in the year to September 2007, but this fell to £73,000 after the penalty was imposed.
Shares in MediaCorp, traded on London's Alternative Investment Market, were up by 27% this morning, although from an admittedly low starting point of 2.9p.
Justin Drummond, chief executive of Media Corp, said: "The removal of the Google penalty is a hugely significant event for Media Corp and should sharply increase the revenues derived from these two websites.
"Gambling.com in particular is a major asset for Media Corp and the improvement in Google rankings combined with the imminent re-launch of www.gambling.com should see a marked improvement in revenues generated from these assets."