MGT and Vivid Entertainment Team Up to Introduce Daily Fantasy Sports Site
LOS ANGELES, CA - (Dec. 30, 2014) - MGT Capital Investments, Inc. (NYSE MKT: MGT) is pleased to announce an exclusive partnership agreement between MGT Sports, owner of the 3rd largest daily fantasy sports wagering platform, DraftDay.com, and the leading adult entertainment company, Vivid Entertainment, LLC. The new partnership will develop and market a fantasy sports gaming site which will be available online at VividBetSports.com.
Daily fantasy sports is a multi-billion dollar industry and has achieved mainstream acceptance as evidenced by recent deals by the NBA and NHL, and recently launched pay-to-play sites by Sports Illustrated and USA Today. Adult websites get more visitors each month than Netflix, Amazon and Twitter combined, with over 30% of the internet’s bandwidth used for adult content. By partnering the preeminent adult company with a leader in the daily fantasy sports segment, the companies have created a marriage between one of the fastest growing internet business segments and one of the largest sources of unique online traffic.
Robert Ladd, Chief Executive Officer of MGT said, "We are deeply excited about working with a synergistic partner like Vivid. As 80% of fantasy sports players are males with a mean age of 34 years, the demographics show we are addressing the same audience. The Vivid brand has been in existence for 30 years, and this partnership offers a dynamic opportunity for millions of Vivid fans to test their skill in the daily fantasy sports world.”
“MGT Sports brings unequalled technical and operating know-how and we provide access and marketing experience to a loyal and enthusiastic fan base,” said Bill Asher, Co-Chairman of Vivid Entertainment. “Through Vivid.com and our other websites we will offer easy one-click access and the ability to promote the site through Vivid Radio and Vivid TV, as well as through our other marketing platforms. Daily fantasy sports gaming is a huge and fast-growing segment and we are pleased to be affiliated with a company that is leading its growth.”
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, www.DraftDay.com. The Company also offers games of skill through www.MGTplay.com and social casino games with SlotChamp™, and also operates an online portal for fantasy sports news and commentary, www.FantasySportsLive.com. MGT also launched Daily Fantasy Legend in partnership with Facebook to become the First Daily Fantasy Platform on Social Media. In addition, the Company owns intellectual property relating to slot machines and has asserted its claims via patent infringement lawsuits.
About VIVID Entertainment, LLC.: Founded in 1984, vertically integrated Vivid Entertainment, known as the leading source for quality adult film entertainment, has created wide brand-name awareness through its films, innovative marketing and licensing programs. Vivid-branded products range from condoms to vodka to apparel to gentlemen's clubs. Vivid's movies are seen online, in DVD, VOD and on VividTV worldwide. Its Vivid-Celeb imprint made "celebrity sex tape" a household word and helped launch the Kardashian phenomenon in the process. Vivid is the most awarded studio in the history of the industry. Vivid Radio—Vivid’s 24/7 radio channel—is available on vividradio.com on the SiriusXM app. For more on Vivid visit twitter.com/VividCorp or facebook.com/Vivid.
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.
Company Contacts | MGT Capital Investments, Inc. | Robert Traversa | Chief Financial Officer | 914-630-7431 | firstname.lastname@example.org
Vivid Entertainment | Jackie Martin | 800-762-4761 | email@example.com