Seeking Alpha

MGT Capital Investments Inc (MGT)

  • Wed, Sep. 9, 10:42 AM
    • Viggle (NASDAQ:VGGL) is up 3.9% as it and UK firm Sportech have teamed up to buy daily fantasy operator DraftDay from MGT Capital Investments (MGT +13.3%), grabbing a foothold in a growing market.
    • The two will form DraftDay Gaming Group to capitalize on the new asset. Viggle will own 44% and Sportech 35%, with MGT and other shareholders holding the remainder. Viggle CEO Robert F.X. Sillerman will be chairman of the board of the new entity.
    • Sportech, the sports gaming and betting firm, will handle day-to-day operations. As for advertising, Viggle's app will be integrated into the DraftDay games
    • DraftDay has paid out more than $30M in prizes to date. Users can draft a team within a salary cap and pursue daily rewards in a market currently ruled by DraftKings and FanDuel.
    • Sportech is down 2% in London trading.
    | Wed, Sep. 9, 10:42 AM | Comment!
  • Nov. 13, 2013, 4:09 PM
    • MGT Capital Investments (MGT +5.3%) acquires mobile casino game studio Avcom for 491K shares, good for a price tag of $1.48M as of today's close.
    • The deal includes a 330K share contingency subject to Avcom meeting revenue metrics in the next 18 months.
    | Nov. 13, 2013, 4:09 PM | Comment!
Company Description
MGT Capital Investments Inc together with its subsidiaries is engaged in the business of acquiring, developing and monetizing assets in the online and mobile gaming space and social casino.
Sector: Technology
Country: United States