Navigation Links
MGT Capital Investments, Inc. Announces Sale of Medicsight Patents
Date:6/4/2013

HARRISON, N.Y., June 4, 2013 /PRNewswire/ -- MGT Capital Investments, Inc. (NYSE MKT: MGT) announced today that the Company has signed a definitive agreement with a major Asian conglomerate to sell its portfolio of medical imaging patents.  The monetization of these patents completes MGT's transition to a company focused on internet and mobile gaming. 

(Logo:  http://photos.prnewswire.com/prnh/20130409/NY91046LOGO)

Robert Traversa , Chief Financial Officer, stated, "We expect the proceeds of roughly $1.5 million to be deployed in the skill-based gaming space, where we see tremendous opportunity.  Our board of directors is also considering other avenues to enhance shareholder value."

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 gameplay for the NFL, MLB, NCAA (basketball & football), NHL, NBA and professional golf, with near-term plans to add NASCAR.  Its goal is to offer fantasy sports fans the absolute best play environment and the most popular gameplay styles with a perfect balance between user-friendliness and in-depth statistical analysis.

MGT Gaming, Inc., a majority owned subsidiary, owns U.S. Patent No. 7,892,088 relating to casino gaming systems. In November 2012, MGT Gaming filed a patent infringement suit against Caesars Entertainment Corporation, MGM Resorts International, Inc., WMS Gaming (a subsidiary of WMS Industries, Inc.), Penn National Gaming, Inc., and Aruze Gaming America, Inc.

In addition, the Company owns Hammercat Studios, a publisher and developer of videogames for digital distribution in the mobile app space.

Forward looking statements

This press release contains forward-looking statements within the meaning of the Safe Harbor Provisions of the U.S. Private Securities Litigation Reform Act of 1995.  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.
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. PLC Systems Secures Additional Financing For US Clinical Trials And General Working Capital
2. Genstar Capital Completes ERT Acquisition In A Take-Private Transaction
3. Savient Pharmaceuticals Receives Favorable Decision In Tang Capital Litigation
4. Intrepid Investment Bankers LLC Advises A-Med Health Care in the Sale of its Specialty Pharmacy Assets to Modern HC Pharmacy, Inc., a portfolio company of Altamont Capital Partners
5. Neuralstem Announces Exercise Of Entire Over-Allotment Option By Aegis Capital Corp.
6. Physicians Capital Investments, Physicians Capital Markets, and EDGE Realty Capital Markets announce a new strategic initiative
7. Savient Pharmaceuticals to Present at the 6th Annual Imperial Capital Global Opportunities Conference
8. Innophos To Present At 2012 KeyBanc Capital Markets Basic Materials & Packaging Conference
9. GP Strategies to Present at the BMO Capital Markets 12th Annual Back to School Education Conference
10. Raging Capital Calls On Taro Pharmaceutical Shareholders To Vote Against The Taro / Sun Pharma Merger
11. Masimo to Present at Lazard Capital Markets 9th Annual Healthcare Conference
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/17/2017)... YORK , Feb. 17, 2017   Risperdal ... side effects allegedly associated with use of the atypical ... Philadelphia Court of Common Pleas, where ... mass tort program. According to a notice posted on ... to convene a meeting on March 9, 2017 at ...
(Date:2/17/2017)... NEW YORK , Feb. 17, 2017 /PRNewswire/ ... announced today the partnership of their 3D body ... in healthcare IT.  The new integration will be ... on an interactive model of the human body. ... data saves clinicians time, while also increasing the ...
(Date:2/16/2017)... Research and Markets has announced the addition of ... report to their offering. ... Traditional medical devices include devices (e.g., ... implantables, large endoscopes, needle based drug delivery, lab based diagnostics ... to three decades for the treatment and management of various ...
Breaking Medicine Technology:
(Date:2/17/2017)... ... February 17, 2017 , ... ... been named a finalist in the 8th Annual DecisionHealth Platinum Awards in recognition ... system. Qualis Health’s work is recognized across multiple award categories, highlighting four of ...
(Date:2/17/2017)... (PRWEB) , ... February 17, 2017 , ... ... cycle management services, announced today that Karen Pilley has been promoted to Chief ... critical in today’s shifting healthcare paradigm – a shift that demands the transition ...
(Date:2/17/2017)... ... 17, 2017 , ... Cancer diagnostics workflow solution provider Inspirata, ... – 22 in San Francisco. As part of the Tri-Conference expo, which is ... solution, as well as its new precision medicine platform, “Crosswalk Insight: Oncology™.” , ...
(Date:2/17/2017)... VA (PRWEB) , ... February 17, 2017 , ... ... protection services and financial planning assistance to families and business owners in and ... for a charity drive to help prevent all forms of domestic violence. , ...
(Date:2/16/2017)... ... February 17, 2017 , ... For some cancer survivors, the ... treatments. Physician researchers at The Marcus Institute of Integrative Health at Thomas ... in reducing symptoms of traumatic stress in cancer patients and published their ...
Breaking Medicine News(10 mins):