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HARRISON, N.Y., Sept. 4, 2013 /PRNewswire/ -- MGT Capital Investments, Inc. (NYSE MKT: MGT) announced today that its majority owned subsidiary MGT Interactive, LLC has acquired certain assets from Gioia Systems LLC, the inventor and owner of a proprietary method of card shuffling for the online poker market. Trademarked under the name Real Deal Poker, the technology uses patented shuffling machines, along with permutation re-sequencing, allowing for the creation of up to 16,000 decks per minute in real time. Each newly created deck is then "dealt" for a hand of online poker, complete with burn cards and the option for a player to "cut" the deck. In addition to providing a higher level of realism, each deck provides an authentic randomized deal and full audit trail; both missing from currently used random number generating algorithms.
The Real Deal system overcomes the inaccuracies inherent in current virtual dealing practices by creating unique decks formed by real cards that have been randomly shuffled first in a process that can be verified by players and regulatory authorities. In addition to poker, Real Deal can be adapted to other card games such as blackjack and baccarat. The Company intends to exhibit the system at the G2E convention in
Las Vegas from
September 23 - 26.
The acquisition includes 7 U.S. patents and several Internet URL addresses, including
Robert Ladd, CEO of MGT stated, "As U.S. states begin to allow betting on online poker, we expect Real Deal to offer regulators the only way to ensure fairness and allow for full transparency for any card dealt online. We expect to partner with casinos as they offer online poker to adults in
Nevada and New Jersey. We also plan to license the Real Deal technology to other legal online poker sites that wish to offer their customers a more true-life poker experience." The Company not yet entered into any such business arrangements and there can be no assurance that it will do so.
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.