MGT Featured in Article on the Rapidly Growing Daily Fantasy Sports Industry
HARRISON, N.Y., Dec. 23, 2014 /PRNewswire/ -- Robert Traversa, Chief Financial Officer of MGT Capital Investments, Inc. (NYSE MKT: MGT), was interviewed by Opportunist Magazine regarding MGT's strategic position in the burgeoning daily fantasy sports sector. As the operator of the 3rd largest fantasy sports gaming platform (based on player activity and funds, contest sizes, and similar metrics), and the only publicly traded entity on a listed exchange, Traversa believes that MGT represents the best opportunity for investors to invest in this industry as it rapidly expands. In the article, Traversa states, "The fact that the two players above us are valued in the hundreds of millions while our market cap is just over $6.0 million is one of the most compelling parts of our story."
Asked how MGT's fantasy sports holdings stand out from competitors, Traversa highlighted: MGT's emphasis on the B2B market by entering into agreements with partners looking to monetize the space; the offering of a broader style and variety of game contests; and the Company's newly launched social media platform Daily Fantasy Legend, which enables users to play on Facebook with virtual currency, thereby expanding daily fantasy sports to a wider audience, including those aged thirteen and up and those unwilling to play with cash.
The complete article can be viewed at http://opportunistmagazine.com/fantasy-sports/ or at http://www.mgtci.com/media-center/company-news.
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, DraftDay.com. For the B2B market, MGTSports.com offers a turnkey solution with a white label daily fantasy sports platform. A social version of fantasy sports, DailyFantasyLegend.com, is offered on the Facebook platform. The Company also offers games of skill through MGTplay.com, an upcoming social casino game SlotChamp™, and operates an online portal for fantasy sports news and commentary, FantasySportsLive.com. In addition, the Company owns intellectual property relating to slot machines and has asserted its claims via patent infringement lawsuits.
Forward-looking Statements
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.
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SOURCE MGT Capital Investments, Inc.
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