HARRISON, N.Y., Aug. 19, 2015 /PRNewswire/ -- MGT Gaming,
Inc., a subsidiary of MGT Capital Investments, Inc. (NYSE MKT:
MGT), today announced that it and Aruze Gaming America along with
Aruze affiliates have settled their litigation and will end all
related proceedings in the United
States Patent and Trademark Office.
The pending litigation in the United States District Court for
the Southern District of Mississippi (Jackson Division), in which MGT
Gaming alleged infringement of U.S. Patent Nos. 7,892,088 and
8,500,554 by Aruze Gaming America's products known by the trade
names "Paradise Fishing" and "Amazon Fishing," will be dismissed
with prejudice. The parties will also file motions to terminate the
Inter Partes Reviews filed by the Aruze entities with the
United States Patent Trial and Appeal Board involving the same MGT
patents.
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, DraftDay.com. The
Company also offers games of skill through MGTplay.com and social
casino games with SlotChamp™. MGT also launched Daily
Fantasy Legend in partnership with Facebook to become the first
daily fantasy sports platform on social media. 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.