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MGT Capital Investments Inc Acquires Majority Interest In MGT Gaming, Inc

Thursday, 10 May 2012 11:18am EDT 

MGT Capital Investments Inc announced the Board of Directors has decided to pursue the acquisition of patents and underlying technologies with the intent of commercializing and/or enforcing the economic rights to such inventions. The Company’s first purchase addresses methods of play used in fast-growing segments of the slot machine business. MGT announced that it has agreed to acquire a majority interest in MGT Gaming, Inc., which has entered into a binding agreement to acquire U.S. Patent #7,892,088, entitled 'Gaming Device Having a Second Separate Bonusing Event.' The invention specifically relates to gaming systems linked to an interactive sign, and includes all filed continuation patents. The United States Patent and Trademark Office issued this patent on February 22, 2011; the corresponding patent application was filed on October 18, 2001. The patent’s inventors will retain a minority stake in MGT Gaming; full terms will be disclosed upon the closing of the transactions contemplated in the agreement, which is subject to customary closing conditions. 

Company Quote

-0.05 -2.53%
17 Apr 2014