HARRISON, N.Y., March 5, 2014 /PRNewswire/ -- MGT Capital
Investments, Inc. (NYSE MKT: MGT) announced today that its majority
owned subsidiary FanTD LLC has entered into an incentive-based
consulting and marketing agreement with an entity formed by
Nicholas Dunham and Charles Chon, each of whom are leading daily
fantasy sports players. The exclusive relationship will
entail input on site design and functionality in order to enhance
the player experience, and promotion of the site through a variety
of channels, including audio and video media and high visibility
events. Mr. Chon operates under the screen name
Condia; he is widely regarded as the most skilled competitor
in daily fantasy sports, and placed second in FanTD's $500,000 Football championship in December
2013. Mr. Dunham uses the screen name 1ucror and has
participated in hundreds of thousands of daily fantasy sports
contests.
Robert Traversa, MGT's Chief
Financial Officer, stated: "We are excited to join forces with the
most talented names in the business, and look forward to offering
an even better daily fantasy sports playing experience as we expand
our site in 2014." Mr. Dunham added: "After a thorough review
of the daily fantasy sports industry, Charles and I decided that
MGT is in the perfect position to become a market leader and
provides us with a great opportunity. We intend to make MGT's
branded sites the premier destination for daily and weekly fantasy
games."
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 a patent infringement lawsuit 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.
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.