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MGT to sell DraftDay fantasy sports platform to Sportech

15th June 2015 7:55 am GMT

MGT Capital Investments has agreed a deal to sell its daily fantasy sports assets, including the DraftDay fantasy wagering platform and its MGT Sports B2B network, to Random Outcome USA, a newly-formed investment vehicle managed by Sportech Digital.

The companies have signed an asset purchase agreement that will see Random Outcome pay MGT a total of $7m, including $4m in cash, for the assets.

MGT will also retain an equity interest in the new entity, including common stock and [...]

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