MGT Capital Investments, Inc. and its subsidiaries engage in the business of acquiring, developing, and monetizing assets in the online and mobile gaming space, as well as the casino industry. The company operates in four segments, such as Medicsight Software/Devices, Medicsight Services, Gaming, and Intellectual Property. Acquisitions In April 2013, the company acquired certain assets and liabilities of Digital Angel Corporation, a developer and publisher of mobile games designed for tablets and smartphones. In May 2013, the company’s subsidiary, MGT Sports, Inc., completed the acquisition of 63% of the outstanding membership interests of FanTD LLC, which operates a daily fantasy sports Website at www.fanthrowdown.com. Launched in 2012, FanThrowdown.com offers players the opportunity to participate in real money daily fantasy gameplay for the NFL, MLB, NCAA (basketball and football), NHL, NBA, and professional golf. In November 2013, the company acquired 100% of Avcom, Inc. (Avcom). Avcom is a game development studio producing free to play mobile and social casino–style games. Avcom’s assets include physical and intellectual property associated with Mobileveg.as and freeawesome.com, as well as a game under development titled ‘SlotChamp’. Strategic Alliances In December 2013, the company entered into a strategic alliance agreement with M2P Entertainment GmbH, a German corporation (M2P), the newly formed Delaware corporation, M2P Americas, Inc. (M2P Americas) and the company’s ’s existing subsidiary, MGT Studios, Inc. The purpose of the transaction is to allow M2P Americas to market and exploit MP2’s gaming technology in North and South America through M2P Americas. As part of the transaction, the company acquired 50.1% of M2P Americas and M2P acquired 49.9%. The strategic alliance agreement provides that the company and M2P would jointly cooperate to launch M2P’s gaming technology in North and South America. It further provides M2P Americas with an exclusive royalty free license to M2P’s gaming technology for North and South America. Intellectual property The company’s subsidiary, MGT Gaming, Inc., owns two U.S. patents covering certain features of casino slot machines. Competition The company competes with Zynga, Inc.; King Digital; Soul & Vibe Interactive; DeNA; Gree; Nexon; and Glu. History MGT Capital Investments, Inc. was founded in 1979.
mgt capital investments inc
500 Mamaroneck Avenue
Harrison, NY 10528
|Glu Mobile Inc||$4.10 USD||+0.03|
|Gree Inc||¥727.00 JPY||-5.00|
|Median Technologies||€8.17 EUR||-0.02|
|Soul & Vibe Interactive Inc||$0.01 USD||-0.0064|
|Zynga Inc||$2.67 USD||-0.04|
|View Industry Companies|
|Price/Cash Flow||NM||Not Meaningful|
Sponsored Financial Commentaries
To contact MGT CAPITAL INVESTMENTS INC, please visit www.mgtci.com. Company data is provided by Capital IQ. Please use this form to report any data issues.