HARRISON, N.Y., Sept. 25, 2013 /PRNewswire/ -- MGT Capital Investments, Inc. (NYSE MKT: MGT) announced today that its majority owned subsidiary MGT Interactive, LLC is currently showcasing its innovative and exciting REAL DEAL POKER™ online poker system at the Global Gaming Expo (G2E) in Las Vegas, Nevada. The trade show began on September 24th and ends on September 26th.
Online gaming technology is the hot topic at this year's G2E. Nevada, Delaware and New Jersey have led the way with recently approved legislation to allow online wagering, with online poker in particular being viewed as a very large business opportunity. KSNV, the NBC television affiliate in Las Vegas, devoted a segment to online poker in its evening news broadcast yesterday, with REAL DEAL POKER™ prominently featured, including a short interview with Gene Gioia, the inventor of REAL DEAL. The news report can be found on KSNV's website at:
MGT Interactive's technology uses patented shuffling machines, along with permutation re-sequencing, allowing for the creation of up to 16,000 decks per minute in real time. Each newly created deck is then "dealt" for a hand of online poker, complete with burn cards and the option for a player to "cut" the deck. In addition to providing a higher level of realism, each deck provides an authentic randomized deal and full audit trail (using barcode scanning and imaging); both missing from currently used random number generating algorithms.
"We are very confident about the profit opportunities we see in the real money online wagering market," said Robert Ladd, MGT's Chief Executive Officer. "With our expanding patent portfolio and innovative online games, we believe we are strategically positioned to benefit from the increased legalization of online casino gaming."
About MGT Capital Investments, Inc.
MGT Capital Investments and its subsidiaries are engaged in the business of acquiring, developing and monetizing assets in the online and mobile gaming space.
MGT Sports, Inc., a wholly owned subsidiary, owns a majority interest in FanTD LLC, an online daily fantasy sports wagering business. FanTD LLC owns and operates FanThrowdown.com, one of the leading daily fantasy sports websites. Launched in 2012, FanThrowdown.com offers daily fantasy game play for the NFL, MLB, NCAA (basketball & football), NHL, NBA and professional golf. Its goal is to offer fantasy sports fans the absolute best play environment and the most popular game play styles with a perfect balance between user-friendliness and in-depth statistical analysis.
MGT Gaming, Inc., a majority owned subsidiary, owns U.S. Patent Nos. 7,892,088 and 8,500,554 relating to casino gaming systems. In November 2012, MGT Gaming filed a patent infringement suit against Caesars Entertainment Corp., MGM Resorts International, Inc., WMS Gaming (a subsidiary of WMS Industries, Inc.), Penn National Gaming, Inc., and Aruze Gaming America, Inc.
MGT Interactive, Inc., a majority owned subsidiary, owns REAL DEAL POKER™, an innovative online poker technology with a patented card shuffling system, allowing for regulatory transparency and a higher level of realism. Real Deal Poker is currently exhibiting at G2E 2013 (booth 4828i) in Las Vegas, Nevada from September 24-26, 2013. More information can be found at www.realdealpoker.com
In addition, the Company owns Hammercat Studios, a publisher and developer of videogames for digital distribution in the mobile app space.
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.