The recent news flow has been positive and the one related to the allowance of another patent is also extremely important. As stated by other more knowledgeable boarders, patent application 13/569,837 is a continuation of the application 12/930,712, filed in Jan 2011, which is a continuation of U.S. patent application 09/982,437 (the one which resulted in '088 being issued), filed in 2001. The original assignee is MGT Gaming, Inc. So the '088 patent continuation will be granted after MGT pays a small fee to the USPTO to complete the formality. This is a positive for MGT because it indicates that the USPTO has reviewed it again, and confirmed the validity of the original patent and also expanded its scope and claims. This may help in strengthening its claim in the lawsuit filed against casino gaming companies. This also increases the chance of a settlement offer from the defendants. So this development is bigger than what it seems. Legal experts can comment on this more elaborately, but this is perhaps the essence of what has happened. Even the fixing of the Markman hearing does imply that the claims by MGT have substance, and will go through further legal process. So all this adds to the positivity related to the patent infringement lawsuit against the casino giants. There has been no further news on the other part of the business (fantasy sports) after the appointment of the high profile executives. One would surely like to know how things are progressing in that front. Maybe a update from time to time would be good for the investors. That is also a game changer for the company if the management does the right things fast. Speed is crucial as competition may increase. More companies are realizing the potential of the daily version.
I have to hand it to you. You seem very convincing. So much i had to look into this statement you made "This is a positive for MGT because it indicates that the USPTO has reviewed it again, and confirmed the validity of the original patent and also expanded its scope and claims. " Not what I found.
I found otherwise. The USPTO does nothing is what i found. They simply collect the fee. Please provide proof of your statement. This is what I found " those payments require no additional USPTO work beyond the fee processing".
Novice it would be difficult for you to be more wrong.
All of the reviews work including references, correspondence, interviews, etc. regarding the continuation is documented and itemized on the USPTO site.
The USPTO website gives a complete transaction history for the 13/569,837 application with in excess of forty line items of processing from 8/8/12 - present. The case was assigned to Patent Examiner Steven Hylinski who approved the continuation after 2 initial rejections and refinements to the filing and more than 10 months of review.
Totally agree that the issuance of this second patent strengthens MGT's position in their patent infringement lawsuit with WMS et al. That along with the fact that the Markman date has been set meaning no prima facie dismissal and no change in venue, should push us much closer to a settlement with WMS. What I am still unsure about is whether SGMS is exercising due diligence and will require WMS to resolve this matter before their buy out of WMS closes. Most of the Wall Street commentary seems to indicate that SGMS is already over paying for WMS. One would think that given the huge premium that SGMS is already paying to acquire WMS that they would require that settlement occurs in this case before their acquisition of WMS closes. We'll see - but I expect a settlement yet this year.
Regarding the fantasy sports business, I agree with you and other commentary that MGT needs to be aggressive to gain a foothold. Because of this I expect a continual flow of updates which should provide ongoing upward pressure on the stock price. I believe that investors that are buying and holding today will be richly rewarded in the next 6 to 12 months as many of these stories unfold.