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SOURCE MGT Capital Investments, Inc.
Company Also Comments on Recent Activity in Daily Fantasy Sports
HARRISON, N.Y., Sept. 3, 2014 /PRNewswire/ -- MGT Capital Investments, Inc. (NYSE MKT: MGT) would like to congratulate the winners of the DraftDay Big League Blast tournament (www.draftday.com). The participation rate was outstanding as the championship game filled to maximum capacity and the website paid out $250,000 to thirty of its players in the tournament. The contest's winner, screen-named RunItUp, took home $55,000 for first place (as well as 12th place) and many other top players qualified for the Championship multiple times, boosting their winnings in the process. Notable winners included MattTruss223, AngryFish, naapstermaan, and Al_Smizzle. Congratulations to all! Full commentary can also be accessed on MGT Sports information portal, www.fantasysportslive.com.
MGT Sports is fully prepared for the start of what will undoubtedly be the largest daily fantasy sports season ever in North America. Positioned as the 3rd largest operator in this burgeoning sector (based on player activity, guaranteed contest sizes and similar metrics), DraftDay possesses strong player liquidity and an outstanding user interface, recently enhanced with the addition of the My LineUps feature. Moreover, with the recent consolidation in the industry, DraftDay offers a home for those contestants favoring a broad spectrum of game styles, in addition to the most popular salary cap contests.
Tomorrow marks the start of Professional Football – the largest and most popular fantasy sport. Robert Ladd, Chief Executive Officer of MGT, stated, "The non-stop nature of investor interest in daily fantasy sports fully validates the Company's move into this area of skill based gaming. Valuations of the two larger sites recently took quantum leaps with the private placement of over $100 million of new venture capital, and we are looking forward to the future with great expectations."
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.
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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