HARRISON, N.Y., Dec. 17, 2014 /PRNewswire/ -- MGT Capital
Investments, Inc. (NYSE: MGT ) is pleased to announce the official
launch of Daily Fantasy Legend, a Facebook-based fantasy sports
game where players create teams of athletes from the rosters of
major professional sports, and then compete in tournaments on a
daily basis. Daily fantasy sports for cash prizes is a rapidly
growing online gaming experience, more than doubling in size
between Q4 2013 and Q4 2014 according to published reports by
industry leaders. Daily Fantasy Legend seeks to further capitalize
on this popularity by reaching a vast new audience with proven
monetization ideas.
The launch by MGT brings the proven success of MGT's fantasy
sports model from real money to virtual currency. As a result, it
dramatically widens the addressable audience of this gaming
phenomenon to include those below 18 years of age, and those with
an interest in playing but not ready to take out their credit card.
The game is free to play and will be available to anyone aged 13
and up with a Facebook account at
http://www.dailyfantasylegend.com.
Exciting features have been added for the Facebook platform as
players can challenge friends, create leagues, rise up the
leaderboard, and continually unlock ever more exciting
contests. The average daily fantasy sports player exhibits a
strong level of engagement, spending several hours each week
drafting teams and monitoring contest standings. Top Facebook games
in the sports category can top 10 million active users per month,
roughly 20 times the largest daily fantasy sports sites. Daily
Fantasy Legend plans to monetize the site by selling virtual
currency to allow players to enter larger, higher stakes contests,
and by serving traditional video ads.
"We are already the clear #3 in the space with our cash gaming
offering, DraftDay.com, and have twice the variety of contest types
as our competition. Merging this expert technology platform with
the social power of Facebook opens new doors for potential partners
and sponsorships, as well as allowing new players to experience our
great technology and have some real fun," stated Robert Ladd, Chief Executive Officer of MGT.
About MGT Capital Investments, Inc.
MGT Capital and its subsidiaries operate social and real money
gaming sites online and in the mobile space, including ownership of
the 3rd largest daily fantasy sports wagering platform,
www.DraftDay.com. The Company also offers games of skill
through www.MGTplay.com and social casino games with
SlotChamp™, and also operates an online portal for fantasy
sports news and commentary, www.FantasySportsLive.com. In
addition, the Company owns intellectual property relating to slot
machines and has asserted its claims via patent infringement
lawsuits.
Forward-looking Statements
This press release contains forward-looking statements. The
words or phrases "would be," "will allow," "intends to," "will
likely result," "are expected to," "will continue," "is
anticipated," "estimate," "project," or similar expressions are
intended to identify "forward-looking statements." MGT's financial
and operational results reflected above should not be construed by
any means as representative of the current or future value of its
common stock. All information set forth in this news release,
except historical and factual information, represents
forward-looking statements. This includes all statements about the
Company's plans, beliefs, estimates and expectations. These
statements are based on current estimates and projections, which
involve certain risks and uncertainties that could cause actual
results to differ materially from those in the forward-looking
statements. These risks and uncertainties include issues related
to: rapidly changing technology and evolving standards in the
industries in which the Company and its subsidiaries operate; the
ability to obtain sufficient funding to continue operations,
maintain adequate cash flow, profitably exploit new business,
license and sign new agreements; the unpredictable nature of
consumer preferences; and other factors set forth in the Company's
most recently filed annual report and registration statement.
Readers are cautioned not to place undue reliance on these
forward-looking statements, which reflect management's analysis
only as of the date hereof. The Company undertakes no obligation to
publicly revise these forward-looking statements to reflect events
or circumstances that arise after the date hereof. Readers should
carefully review the risks and uncertainties described in other
documents that the Company files from time to time with the U.S.
Securities and Exchange Commission.
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SOURCE MGT Capital Investments, Inc.