Market Overview

Rumor: Amaya May Bid On MGT Capital Investments

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MGT Capital Investments Inc. (NYSE: MGT) gained nearly 10 percent on a rumor could be acquired by Amaya Inc. (TSE: 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.

 

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