HARRISON, N.Y., Jan. 13, 2015 /PRNewswire/ -- MGT Capital Investments, Inc. (NYSE MKT: MGT) announced that the Company was notified that the USPTO denied a third party request for an Ex Parte Reexamination of U. S. Patent No. 7,892,088. Claims 1-3, and 6 of the patent were reviewed along with prior art, and determined that no substantial new questions of patentability exist. Further, the evidence and explanation provided by the petitioner did not support ordering a request for reexamination, and the request was denied. The decision is final and cannot be appealed.
"We are pleased with the USPTO's decision to deny this petition. No substantial new questions were raised about patentability, thereby validating our assertions. We will continue to seek reasonable royalty payments from those who infringe the '088 patent."
The '088 patent addresses a gaming system in which multiple gaming machines are networked to one another, and to an interactive sign. The technology allows the players to play a second bonus game and compete against one another if the bonus is triggered.
About MGT Capital Investments, Inc.
MGT Capital and its subsidiaries operate social and real money gaming sites online and in the mobile space, including ownership of the 3rd largest daily fantasy sports wagering platform, www.DraftDay.com. The Company also offers games of skill through www.MGTplay.com and social casino games with SlotChamp™, and also operates an online portal for fantasy sports news and commentary, www.FantasySportsLive.com. MGT also launched Daily Fantasy Legend in partnership with Facebook to become the First Daily Fantasy Platform on Social Media. In addition, the Company owns intellectual property relating to slot machines and has asserted its claims via patent infringement lawsuits.
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.