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July 29, 2013 /PRNewswire/ -- MGT Capital Investments, Inc. (NYSE MKT: MGT) announced today that it has filed an application for a New Jersey Casino Service Industry Enterprise License (CSIE). According to regulations promulgated by the New Jersey Division of Gaming Enforcement (NJDGE), companies providing Internet gaming software or systems, and vendors who manage, control, or administer games and associated wagers conducted through the Internet, must obtain a CSIE. By submitting its application by the
July 29, 2013 deadline imposed by the NJDGE, MGT can expect to be considered for suitability prior to the "go live" date of
November 26, 2013 for i-Gaming in
Robert Ladd, Chief Executive Officer of MGT, stated, "As we continue to grow in the online and mobile gaming industry, obtaining a New Jersey CSIE license will be an extremely valuable asset for our stockholders."
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. 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.