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Slide #99. MGT Capital Investments, Inc. — DraftDay.com
MGT Capital Investments, Inc. (MGT)
MGT Capital Investments, Inc. (NYSE MKT: MGT) announced today that it has entered into an asset purchase agreement with CardRunners Gaming, Inc. to acquire the DraftDay fantasy sport business and software platform. MGT will pay $600,000 in cash and approximately 100,000 shares of common stock to acquire the DraftDay assets. The transaction is expected to close within one week.
MGT Capital Investments and its subsidiaries are primarily engaged in the business of acquiring, developing and monetizing assets in the online and mobile gaming space as well as the social casino industry. Co.'s portfolio includes a social casino platform Slot Champ and minority stakes in the gaming platform MGT Play and fantasy sports operator DraftDay Gaming Group, Inc. In addition, Co.'s majority–owned subsidiary, MGT Gaming, Inc., owns three patents covering certain features of casino slot machines.
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