HARRISON, N.Y., Oct. 23, 2014 /PRNewswire/ -- MGT Capital
Investments, Inc. (NYSE MKT: MGT) will launch the first social
daily fantasy sports game on Facebook, called Daily Fantasy Legend
(DFL), bringing the proven success of MGT's fantasy sports model
from real money to virtual. The game is free to play and will be
available to anyone aged 13 and up with a Facebook account.
DFL players who wish to enhance gameplay through purchase of
in-game currency will have the ability to extend and personalize
their individual experience. Following the beta trial, which
commenced yesterday, MGT expects full commercial launch in early
November.
DFL players create fantasy lineups of real athletes and compete
against teams assembled by others to obtain high point scores.
Contests cover a wide spectrum of sports, including professional
and college football, plus professional basketball, hockey,
baseball and golf. Game styles include casual quick pick
contests and the popular salary cap games, all with the look, feel
and tempo expected by today's audience.
"Social games are a key entertainment activity for millions of
people online and MGT is first to market with the introduction of a
full-scale social daily fantasy sports site," said Robert Ladd, Chief Executive Officer of
MGT. "Our experience with operating the 3rd
largest daily fantasy sports wagering platform, DraftDay, has
enabled us to take this innovate step, and we believe Daily Fantasy
Legend will broaden the market of DFS players and further
contribute to the already explosive growth of the sector.
Moreover, by taking advantage of the superior monetization tools
offered on Facebook, DFL should create meaningful revenue and
operating profit for MGT."
Daily Fantasy Legend was designed and developed entirely
in-house by MGT Sports. "Our goal was to build a great looking and
fluid game that is fun to play, while taking advantage of the full
range of social tie-ins that experienced gamers expect," said Mr.
Ladd. "We are proud of the creative talent of our tech team, having
produced what we see as one of the most exciting new offerings for
Facebook sports fans and gamers, as well as having created a
category-defining product."
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 has created an online portal for fantasy
sports news and commentary, www.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.