Rumor: Amaya May Bid On MGT Capital Investments

MGT Capital Investments Inc. MGT gained nearly 10 percent on a rumor could be acquired by Amaya Inc. AYA.

MGT, with a market capitalization of about $7.8 million, is off more than 2 percent in the past year, and changed hands recently at about $0.59 a share, up 5 percent.

Amaya "is believed to have held talks" with MGT about a potential acquisition, according to an unsourced report Wednesday by the trade publication EGR North America.

Harrison, New York-based MGT has 11 employees and posted a 2014 loss of $5.3 million, or $0.56 a share, on revenue of $1 million.

MGT's operations are focused on its its Draftday Internet domain name, a fantasy sports site.

Amaya, with a market capitalization of $3.86 billion, provides casino gaming technology and last year paid $4.9 billion to acquire privately held Rational Group Ltd., an online poker company.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: NewsRumorsM&ADraft DayDraftDayEGR North America
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!