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DraftDay Gaming Group formed

Wednesday, September 9, 2015 : VIGGLE - SPORTECH J.V. ACQUIRES DRAFTDAY FROM MGT

DraftDay Gaming Group formed.

DraftDay Gaming Group, a new entity formed by a joint venture between Viggle Inc. and Sportech Digital has completed the acquisition of fantasy sports business DraftDay from MGT Capital Investments.

“By combining and capitalizing on the well-established operational business assets of DraftDay, Sportech and Viggle, the new company is well-positioned to become a significant player in the explosive fantasy sports market,” a company statement said.

The new entity is 44 percent owned by Viggle, 35 percent Sportech Digital and 10 percent MGT Capital with the balance owned by employees and other shareholders.

Robert F.X. Sillerman will serve as Chairman of the Board of the DraftDay Gaming Group, and current president of Sportech Digital, Rich Roberts, as chief executive officer.

Nic Sulsky, formerly of Sportech Digital, was named President, and John C. Small, chief financial officer of Viggle, will act as chief financial officer of DraftDay Gaming Group.

Larry Kom, formerly chief information officer of MGT, will join DraftDay as chief technology officer, accompanied by the full product development team.

MGT earned $5.0 million in total consideration, comprising Promissory Notes of Viggle Inc., restricted shares of VGGL common stock, and a retained equity interest in the new venture.

In addition, MGT receives warrants exercisable into the new entity.

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Gambling News :

Amaya FY2016 Trading Update - The Montreal-based Amaya online gambling group has issued a trading update covering FY 2016 and improving its forecast revenue and earnings numbers.

Another Mega Fortune Dreams jackpot for Euro 3.5 million - In a statement Friday NetEnt advised that the lucky player is a 62-year-old woman from central Finland who won the seven-figure sum from a Euro 1 stake.

Stanleybet has filed a legal action against the government of Cyprus - Bookmaking firm Stanleybet has filed a legal action against the government of Cyprus, claiming Euro 12.5 million as compensation for what it claims is loss of profits and opportunities, prejudice to image and business reputation and legal costs.

LeoVegas To Sponsor Leicester Tigers - The agreement includes official partner accreditation, media space at Welford Road stadium and matchday tickets and VIP hospitality as well as two pitchside perimeter boards from the 2017/18 season and one for duration of the 2016/17 season.

Optima Information Services iShop - Industry visitors to the recent TVC Bookmakers Trade Fair in Solihull, UK were much taken by Spanish betting technology firm Optima Information Services' iShop product, and the company went on to win the SBC Best Retail Betting Product award with it last month.

Golden Nugget Las Vegas Launches New Betting App - Golden Nugget Las Vegas has unveiled a sports wagering app offering Nevada punters the comfort and convenience of being able to wager from anywhere in the state.

CAGAYAN CHIEF MOVES TO REASSURE LICENSEES - Apparently $4 million is going into improvements of the Authority’s data centre in the Freeport at Cagayan, whilst another $3 million has been earmarked for an upgrade to data infrastructure located outside the Freeport.

New Massachusetts Online Gambling Bill - It seems that every two years (give or take a few months) Massachusetts state Senator Bruce Tarr flights an online gambling legalization bill in the state Senate.

Las Vegas Sands Fined for foreign bribery allegations - #lasvegassands Las Vegas Sands, the land casino company owned by multi-billionaire US mogul Sheldon Adelson, has again had to cough up a stiff penalty for non-compliance with the law.

Libratus AI Program Destroying Human Poker Opponents - #Libratus With 40,340 hands played (about a third of the 120,000 planned) Dong Kim is down $29,506, whilst Jimmy Chou ($113,7728), Daniel McAuley ($141,877) and Jason Les ($186,489) are all carrying losses.

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