HARRISON, N.Y., July 23, 2013 /PRNewswire/ -- MGT Capital Investments, Inc. (NYSE MKT: MGT) announced today the purchase of certain assets from Fantasy Day Sports, Corp., operator of the industry's original daily fantasy sports website, and from Daily Joust, Inc., which operates another popular destination for daily fantasy sports players. Since the launch of its pioneering website, www.fantasysportslive.com, in 2007, Fantasy Day Sports has paid out millions in cash prizes. On www.dailyjoust.com, users have enjoyed over two years of exciting and innovative contests.
In addition, on Sunday, July 21, 2013, FanThrowdown announced the largest promotion in its history, with a "Grand Slam" event with $100,000 in prizes. This promotion was launched with the participation of www.rotogrinders.com, the industry's best-known and respected daily fantasy sports news, advice and statistical site.
Daily fantasy sports compress the timeframe of traditional fantasy sports from multi-month seasons into 24-hour periods, and is the fastest growing segment of the 30 million-player fantasy sports industry. Players select a roster of athletes across all popular sports, and winnings are determined by the same-day performance of these rosters. The financial attractiveness of daily fantasy sports has been demonstrated by recent investments in the space from major entertainment conglomerates Comcast and Interactive Corporation.Robert Traversa, Chief Financial Officer of MGT, commented, "We are extremely pleased to add these asset purchases that enhance FanThrowdown.com as a leader in daily fantasy. We welcome the new players to our solid technology base and exciting gameplay. MGT also continues to explore relationships with established media and internet companies to support our expansion for this rapid growth." 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.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts