MGT Provides Update on Patent Infringement Action

May 01, 2014, 08:45 ET from MGT Capital Investments, Inc.

HARRISON, N.Y., May 1, 2014 /PRNewswire/ -- MGT Capital Investments, Inc. (NYSE MKT: MGT) was informed on April 30, 2014 that in response to a request by WMS Gaming for an inter partes review, the U.S. Patent and Trademark Office has agreed to institute a trial challenging U. S. Patent No. 7,892,088. The trial will be conducted before the Patent Trial and Appeal Board and gives MGT the opportunity to defend the patent claims being asserted in the Company's ongoing actions in U.S. District Courts in Mississippi and Illinois.           

This decision from the USPTO does not involve the claims of U.S. Patent No. 8,500,554, which are also being asserted in the cases before the U.S. District Courts.

"When we began our patent infringement litigation, we expected that normal defensive tactics such as a review request would occur, and we are fully prepared for these proceedings," stated Robert Ladd, MGT's Chief Executive Officer.

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 4th largest daily fantasy sports wagering platform,  In May 2014, the Company also expects to offer games of skill through and social casino games with SlotChamp™, and is building an online portal for fantasy sports news and commentary,  In addition, the Company owns intellectual property relating to slot machines and has asserted its claims via patent infringement lawsuits.

Forward-looking Statements

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SOURCE MGT Capital Investments, Inc.