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MGT Capital Investments Sells Off Daily Fantasy SPorts Interestes
Saturday June 13,2015 : M.G.T. SELLS OFF DAILY FANTASY SPORTS INTERESTS
DraftDay included in disposal and will be managed by Sportech plc subsidiary.
MGT Capital Investments, which acquired up-and-coming daily fantasy sports operator DraftDay just a year ago for stock and $600,000, has sold the enterprise along with its other daily fantasy sports assets for $7 million to a previously unknown company titled Random Outcome USA Inc.
It is understood that Sportech Digital, a subsidiary of UK-listed Sportech plc, is involved in the partnership and is to manage DraftDay under the new ownership.
In a statement Friday Rich Roberts, president of Sportech Digital, said that a daily fantasy sports business delivered on a business-to-business partnership basis to regulated gaming jurisdictions has considerable potential.
The business-to-business theme of the statement was reinforced by Random Outcome chief exec Curtis W. Krawetz, who said that the DraftDay-Sportech enterprise will create a "dominant" business-to-business presence in the DFS space.
MGT Capital has retained a $3 million equity stake in the business under its new ownership and is optimistic about its prospects.
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Asia Gaming To Showcase Live Dealer Action -
Asia Gaming will be practically demonstrating its live dealer baccarat at the ICE show next month. The Asia-facing online gambling provider is on the expansion trail and intends to make a big impact at the expo and conference in London.
2017 Aussie Millions Event 6 -
Heads up, Boivin faced local pro Joel Feldman, but the Aussie proved to be no match for an on-fire Boivin who dispatched him with the runner up prize of A$78,440.
2017 Ice Totally Gaming -
Next month's ICE Totally Gaming conference and expo will again be a truly international affair, following confirmation by organizers Clarion Gaming that a total of 67 jurisdictions and sovereign states will be represented on the show floor at ExCeL Centre, London.
IGT in 7 Year Deal With Svenska Spel -
#IGT , as legacy #GTECH , has been providing video lottery products and support services to the state-owned monopoly Svenska Spel since 1996, the statement reminds readers.
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