MGT Teams Up with VegasInsider.com Leader in Sports Gaming Information to Offer Fantasy Sports Contests
HARRISON, N.Y., March 19, 2014 /PRNewswire/ -- MGT Capital Investments, Inc. (NYSE MKT: MGT) announced today that it has entered into a revenue share agreement with VegasInsider.com, Inc., whereby MGT subsidiaries, FanTD, LLC and MGT Sports, Inc. will exclusively provide the technology infrastructure enabling VegasInsider.com to offer a self-branded daily fantasy sports platform to its user base.
With up to two million monthly unique visitors under the VegasInsider.com brand, and online Since 1997, VI considers itself the "The Global Leader In Sports Gaming Information," with the best collection of handicapping talent in the world. VI also provides a world of gaming analysis, stats and up-to-the-second odds and news. In addition, VI provides the most unique content available anywhere in the world while constantly working to create the best presentation of stats and analysis for every type of sports gaming enthusiast – from the weekend player to the grizzled veteran.
Jeremy Avin, General Manager of MGT Sports stated, "We are excited to team up with the global leader in sports gaming information. Using our technology and VegasInsider's large and growing audience, we will dramatically expand our daily fantasy sports offering." David Catron, Vice President and General Manager of VegasInsider.com added, "We have been eying the fantasy sports space for some time and view this partnership with MGT as a huge opportunity."
About MGT Capital Investments, Inc.
MGT and its subsidiaries are engaged in the business of acquiring, developing and monetizing assets in the online and mobile gaming space, as well as the casino industry.
Subsidiary MGT Studios is publisher of social games and real money games of skill, and will launch www.MGTplay.com and SlotChamp™ in early 2014.
MGT Gaming, a majority owned subsidiary, owns U.S. Patents Nos. 7,892,088 and 8,500,554 relating to certain casino slot machine systems and has filed patent infringement lawsuits against WMS Gaming (a subsidiary of Scientific Games Corporation), and others.
The Company also owns a majority interest in FanTD LLC, the operator of FanThrowdown.com, one of the leading online daily fantasy sports wagering websites. Another majority owned subsidiary, MGT Interactive, owns REAL DEAL POKER™, an innovative online poker technology with a patented card shuffling system, allowing for regulatory transparency and auditability, and a higher level of realism.
This press release contains forward-looking statements. The words or phrases "would be," "will allow," "intends to," "will likely result," "are expected to," "will continue," "is anticipated," "estimate," "project," or similar expressions are intended to identify "forward-looking statements." MGT's financial and operational results reflected above should not be construed by any means as representative of the current or future value of its common stock. All information set forth in this news release, except historical and factual information, represents forward-looking statements. This includes all statements about the Company's plans, beliefs, estimates and expectations. These statements are based on current estimates and projections, which involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. These risks and uncertainties include issues related to: rapidly changing technology and evolving standards in the industries in which the Company and its subsidiaries operate; the ability to obtain sufficient funding to continue operations, maintain adequate cash flow, profitably exploit new business, license and sign new agreements; the unpredictable nature of consumer preferences; and other factors set forth in the Company's most recently filed annual report and registration statement. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's analysis only as of the date hereof. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof. Readers should carefully review the risks and uncertainties described in other documents that the Company files from time to time with the U.S. Securities and Exchange Commission.
SOURCE MGT Capital Investments, Inc.