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MGT Capital Investments Files Patent Infringement Lawsuit Against Caesars Entertainment, MGM Resorts, WMS Gaming, Penn National Gaming And Aruze Gaming

Stocks in this article: MGT

MGT Capital Investments, Inc. (NYSE-MKT: MGT.BC), announced today its majority-owned subsidiary, MGT Gaming, Inc. (“MGT Gaming”), has filed a lawsuit claiming patent infringement against multiple companies believed to be violating MGT Gaming’s United States Patent No. 7,892,088 (“the ‘088 Patent”) entitled "Gaming Device Having a Second Separate Bonusing Event." The ‘088 Patent is directed to a gaming system in which a second game played on an interactive sign is triggered once specific events occur in a first game.

The lawsuit, which was filed today in the United States District Court for the Southern District of Mississippi (Jackson Division), alleges the defendants Caesars Entertainment Corporation (NASDAQ GS: CZR), MGM Resorts International, Inc. (NYSE: MGM), WMS Gaming, Inc. - a subsidiary of WMS Industries, Inc. (NYSE: WMS), Penn National Gaming, Inc. (NASDAQ GS: PENN), and Aruze Gaming America, Inc. either manufacture, sell or lease gaming systems in violation of MGT Gaming’s patent rights, or operate casinos that offer gaming systems in violation of MGT Gaming’s patent rights.

The U. S. Patent and Trademark Office issued the ‘088 Patent in February 2011. The corresponding patent application was filed in October 2001. The entire right, title and interest in the ‘088 patent, and all filed continuation patents, is owned by MGT Gaming, including the right to recover for past damages for any infringement of the patent. For full patent details, please refer to the Company’s website at www.mgtci.com, or visit  www.USPTO.gov.

The allegedly infringing products manufactured, distributed, used, sold and/or offered for sale by defendants include at least those identified under the trade names: "Pirate Battle," "Reel'em In Compete to Win," "Great and Powerful Oz," "Battleship," "Clue," and "Paradise Fishing."

In the Complaint, MGT Gaming is seeking preliminary and permanent injunctions against all defendants enjoining them from any continued acts of patent infringement, as well as to recover damages adequate to compensate for the infringement in an amount to be proven at trial, and to recover, in any event, a reasonable royalty from each defendant for its infringement, trebled, plus interest and costs as fixed by the court.

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