Company Overview
MGT and its subsidiaries are engaged in the business of monetizing intellectual property rights. MGT Gaming, Inc., a majority-owned subsidiary, owns intellectual property relating to casino gaming systems, and is enforcing its proprietary rights against possible infringers. In addition, the Company's wholly-owned subsidiary in Medicsight, Inc., a medical technology company with patent ownership, as well as operations in imaging software and hardware devices. The company's computer-aided detection software assists radiologists with detection of colorectal polyps, and has received regulatory approvals including CE Mark and U.S. FDA clearance.
On April 22, 2013, MGT announced that its wholly owned subsidiary, MGT Sports, Inc., has reached an agreement to acquire a controlling interest in FanTD LLC, marking the Company's initial venture in the online and mobile gaming and wagering space.
On its website, www.fanthrowdown.com, FanTD hosts a socially interactive destination where users can participate in free or real money daily fantasy sports contests. Users select a roster of athletes across all popular sports, and winnings are determined by the same-day performance of these rosters. Daily fantasy sports compress the betting timeframe of traditional fantasy sports from multi-month seasons into 24-hour periods. FanTD generates revenue through a rake of the total amount bet.
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Directors and Officers
