The Collaborative International Dictionary of English v.0.48:

Gloat \Gloat\, v. i. [imp. & p. p. Gloated; p. pr. & vb. n.
   Gloating.] [Akin to Icel. glotta to smile scornfully, G.
   glotzen to gloat.]
   To look steadfastly; to gaze earnestly; to gaze with
   passionate desire, lust, or avarice.
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   2. To gaze with malignant satisfaction; to exult maliciously,
      sometimes also triumphantly, in another's loss or
      discomfort; -- usually in a bad sense.
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            In vengeance gloating on another's pain. --Byron.
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