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  • WhiskeyTavon4

    • 594

      RG Overall Ranking

    • 2017 DraftKings FBWC Finalist

    • x2

      2014 DraftKings FBWC Finalist

    FAN THROWDOWN-

    Can someone from FTD or the MGT management group come into the forum to let players know what is going on with the site. There is no more live support option to chat with somebody when you need help and all the guaranteed games are gone. There is no action at all on the site.

  • Tippy

    FTD: “We’re sorry, all of our available operators are working on our $1.34 stock price. Thanks for holding, someone will be with you shortly.”

    Is nobody else concerned that MGT’s market cap value has been SLICED IN HALF over the last 5 weeks?? The stock has cratered 50% from a high of $2.75 on March 12 to an all time low of $1.34 at today’s close?

    It doesn’t seem like the DraftDay purchase did much for the stock health. Nor did the jurisdictional court loss on the patent suits.

    I’d say they definitely need to get on the boards to explain how they can keep going as a business given the way the market has decimated the stock. How are they going to fund things with the stock getting down toward dollar land??

    Wonder how the DraftDay guys are liking those 100,000 shares they accepted as part of the payment for DraftDay??

  • WhiskeyTavon4

    • 594

      RG Overall Ranking

    • x2

      2014 DraftKings FBWC Finalist

    • 2017 DraftKings FBWC Finalist

    I think what is happening is they are going to shut down FTD and put players accounts and their bonus balances into draftday in a sloppy merge. I just wish they would do it immediately instead of the way FTD is going with no guaranteed games and zero action. At least draftday has players, structure, and a nice platform.

  • mrathburn

    They sent an email out today saying you can use T$ “Tournament Dollars” now in all contests. Probably the 1st of many steps to liquidate assets on the site and move balances over to DD. Wonder how STATS inc is going to handle it. Their iron clad contracts dont let anyone out of obligations. Also, you would think they would stop running freerolls. Everything is probably on autopilot.

  • Sports_25ToLife

    DraftDay Rep

    I don’t have any intimate knowledge of FTD, but from what I’ve gathered based on my work on DraftDay is they are reaching out to the userbase in sections and explaining that they are transferring their gauranteed action to DraftDay and I’m assuming offering some kind of bonus on a balance transfer, but they will continue to operate contests on FTD.

  • WhiskeyTavon4

    • 594

      RG Overall Ranking

    • x2

      2014 DraftKings FBWC Finalist

    • 2017 DraftKings FBWC Finalist

    If by reaching out to their userbase you mean not sending any emails at all and not letting anyone know about anything than yes.

  • YoungFischer

    I actually prefer FTD’s salaries and scoring over DraftDay’s so hopefully that gets migrated as well but seems unlikely.

  • robertladd

    MGT Sports Rep

    Unequivocally, we are NOT “going under.” Furthermore, as a fully audited public company on the NYSE, cash owned by player accounts is fully segregated and safe.

    As Warren Buffett says, in the short run the stock market is a voting machine, but in the long run, it is a weighing machine. Recent disappointments in our legacy patent assertion litigation have certainly had a negative impact on the stock. But as much as the low price hurts investors, MGT as a company is extremely well positioned in the skill based gaming industry. We have cash, access to more cash, and zero debt or preferred stock. Please visit the Investor Relations section of our website (www.mgtci.com) to review the company’s most recent investor presentation as well as a new two-minute video describing MGT.

    There is no conspiracy theory at work: We believe that MGT has taken steps and continues to make decisions to ensure the satisfaction of all of our players. We are taking suggestions and soliciting advice from respected members of the community. We have great employees that many of you know personally. And hopefully we learn from our mistakes…..We really do want to be the best!

    With respect to FanTD, frankly, we have not made any final decisions, and we will decide as we move along. In the meantime, most of the larger GPP contests are migrating to DraftDay, but FanTD will still offer plenty of double-ups and lower stakes games. Whatever decision is made, the paramount consideration is that players not be hurt in any manner.

    Condia, 1ucror and now Crazy Gabey all understand that we truly are passionate and dedicated to this industry.

    My email is fully public: rladd@mgtci.com Please feel free to send suggestions, comments, or just vent.

  • winsome

    A fool and his money are lucky enough to get together in the first place…

  • WhiskeyTavon4

    • 594

      RG Overall Ranking

    • x2

      2014 DraftKings FBWC Finalist

    • 2017 DraftKings FBWC Finalist

    Those of us that have large bonus balances on FTD and are trying to play through them are screwed because you have no guaranteed games there and there is no action. What are you waiting for to make your decision? Either send the players at FTD, our funds and bonus accounts over to DD and increase their guaranteed games or restore FTD to a shadow of what it once was in terms of guaranteed action but the way things are being handled now is ludicrous. You also did away with the live chat feature. It is great to be passionate and dedicated to the industry but at least have some semblance of common sense in your decision making.

  • rotokevin

    2014 RG Bowling Co-Champion, CPA & DFS Tax Guru

    • 2014 FanDuel WFBC Finalist

    @robertladd said…

    we truly are passionate and dedicated to this industry.

    “Motivation alone is not enough. If you have an idiot and you motivate him, now you have a motivated idiot.”

    ― Jim Rohn

  • THEKARATEKID

    @YoungFischer said…

    I actually prefer FTD’s salaries and scoring over DraftDay’s so hopefully that gets migrated as well but seems unlikely.

    “YoungFischer” certainly knows a Potser when he sees one. Heed his advise.

  • MrWorldwide

    Ugggg, Please don’t change DD scoring or salraies!!!!!!!!!!!!!

  • raygo

    DD happens to be my favorite site. The only negative thing you could possibly say is that it doesn’t have the traffic of the big 3. As far as user interface and variety of game types, it’s top notch.

  • Ross

    @raygo said…

    The only negative thing you could possibly say is that it doesn’t have the traffic of the big 3. As far as user interface and variety of game types, it’s top notch.

    100% agree.

  • DubDeuces85

    The Live drafts are one of my favorite game types on the site, especially on tougher salary days.

  • MrWorldwide

    Agreed, DD is my favorite as well.

  • robertladd

    MGT Sports Rep

    First of all, thanks for the recent positive posts. Obviously we agree that DD, while not the biggest, has more than adequate action, and importantly a second to none UI and backend. And our goal is to get better…AND bigger!

    Next, I would like to thank WhiskeyTavon4 for his suggestion, and assure him, as well as all players on FTD, that you can absolutely transfer all or some of your account balances in kind (e.g., cash, bonus, etc.), at any time, from FTD to DD. If you have an existing account at DD, then the process will be quite simple: just authorize us in writing to make the transfer. If you don’t have an existing account at DD, then please open one. We want nothing more than a happy player community….believe me, it is in MGT’s best interest as well.

    Following my post, someone from FTD will post more specifics as to the process to follow, including email address to send to, and your customer data.

  • BobFTD

    FanThrowDown Rep

    Hey guys, if you would like to have your accounts & bonuses transferred, please submit a support ticket requesting the transfer. (Click “Support” on the site’s menu, while logged in.)

    Please provide these items, to help speed up the process:

    1- FTD username & email tagged to account
    2- DraftDay username & email tagged to account

    Edit: Please Note, we are now asking that users submit the request through support ticket rather then email. Since our support system requires users to be logged in, this is safer for everyone involved, and will help speed up the process.

    Thank you!

  • Cal

    RG CoFounder & Admin

    • 575

      RG Overall Ranking

    • $1M Prize Winner

    • x3

      2019 DraftKings FFWC Finalist

    @robertladd said…

    First of all, thanks for the recent positive posts. Obviously we agree that DD, while not the biggest, has more than adequate action, and importantly a second to none UI and backend. And our goal is to get better…AND bigger!

    Next, I would like to thank WhiskeyTavon4 for his suggestion, and assure him, as well as all players on FTD, that you can absolutely transfer all or some of your account balances in kind (e.g., cash, bonus, etc.), at any time, from FTD to DD. If you have an existing account at DD, then the process will be quite simple: just authorize us in writing to make the transfer. If you don’t have an existing account at DD, then please open one. We want nothing more than a happy player community….believe me, it is in MGT’s best interest as well.

    Following my post, someone from FTD will post more specifics as to the process to follow, including email address to send to, and your customer data.

    Thanks for posting Robert. I think your presence/interaction/openness on the boards is a major positive.

  • JHols1nger

    Really hope you guys do well over there, I’ve always thought DD was by far the most underrated DFS site.

  • barro

    @Tippy said…

    FTD: “We’re sorry, all of our available operators are working on our $1.34 stock price. Thanks for holding, someone will be with you shortly.”

    Is nobody else concerned that MGT’s market cap value has been SLICED IN HALF over the last 5 weeks?? The stock has cratered 50% from a high of $2.75 on March 12 to an all time low of $1.34 at today’s close?

    It doesn’t seem like the DraftDay purchase did much for the stock health. Nor did the jurisdictional court loss on the patent suits.

    I’d say they definitely need to get on the boards to explain how they can keep going as a business given the way the market has decimated the stock. How are they going to fund things with the stock getting down toward dollar land??

    Wonder how the DraftDay guys are liking those 100,000 shares they accepted as part of the payment for DraftDay??

    Tippy,
    FTD is such a small fraction of MGT assets that it’s laughable that you’d assume the stock price drop has anything to do with the site

  • Ross

    @BobFTD said…

    Hey guys, if you would like to have your accounts & bonuses transferred, please shoot over an email to: support@fanthrowdown.com

    Please provide these items, to help speed up the process:

    1- FTD username & email tagged to account
    2- DraftDay username & email tagged to account

    Any chance RG incentives (referral) can be transferred from ftd to dd also?

  • Tippy

    @barro said…

    Tippy,
    FTD is such a small fraction of MGT assets that it’s laughable that you’d assume the stock price drop has anything to do with the site

    @barro, I don’t think that is what my post says at all. Actually, you have it quite backwards. The concern is not that the FTD site is causing the collapsing of the stock price, but rather the collapsing of the stock price is going to hurt the ability of the company to function properly when it comes to their attempt at DFS.

    But just for the sake of argument, do you know how much money MGT sank into FTD? Probably well north of $3,000,000. And they are closing it. They couldn’t make it work. Think a $3+ million loss doesn’t hurt the stock price?? As of Friday MGT’s market cap was around $14 million. A $3mil loss has to hurt a company that size some. If your read their filings, FTD was a money losing business. And then they had to spend another $800,000 to acquire another asset very similar to FTD. Think that $800,000 doesn’t hurt? At what point do all these purchases start to hurt their cash position? And there’s a pretty good chance that they will have to pump way more cash into DD to make it work and get it anywhere near net positive. How much do you think DK and FD are spending on advertising, software, customer service, employees, etc? I think FD got $12 million in the last investment. The entire MGT company isn’t hardly worth that much. You think MGT has that kind of cash. I don’t.

    If you understand where MGT gets it’s money from you would find that the company gets it’s operating capital from the sale of it’s stock. Even most of it’s purchases of sites and other lines of business have been via stock. They really don’t have any business line that produces much cash. Can you find any of their business lines that are producing cash?? If so, how much?? Patent litigation isn’t a business and it doesn’t produce cash, but it does consume large amounts of cash in litigation fees. The problem that arises when their stock craters is that it becomes very hard to raise money or make purchases. When you don’t have sufficient money it becomes very hard to make a DFS site work and grow.

    I figure there are about 10 million shares of MGT out there, there could be more. About a month ago the shares were valued at 2.75, which puts the value of the company around $27 million. As of Friday, the stock was at $1.40, which put the company value at $14 million. Do you see the value lost? What happens if they can’t sell stock and have to get funding via loan? There’s much less collateral, which makes getting funding way tougher.

    At some point companies turn the dilution spicket wide open until the stock is destroyed and then they reverse split and then start the whole game over. And investors continue to fall for it. Keep an eye on how much stock gets issued from here on out from MGT. And have no doubt, many penny stock will get pumped back up in price occasionally. All of them do. But the real tell comes after the quick runups. Management who treat their shareholders poorly are not the people you want to deal with.

    As Mr. Ladd said, it wasn’t so much the site that caused the stock to get crushed, it was problems with the patent loss. A majority of shareholders in this stock are playing the patent asset. IF, and I said IF, MGT loses the patent case, the company could be toast. Shareholders could jump like rats off a sinking ship and the stock could visit sub dollar land and possible delisting. Then what are they going to do for funding?? You think they are going to burn their remaining cash wad keeping a cash losing DraftDay afloat? Not. They could likely shutter a cash losing DD just like they did FTD and not think twice about it. They will simply get into some other line of business with the cash, just as they have done with their medical business, their gaming businesses, their patent gambles, etc., etc. If you don’t believe it, then research it. And understand, I’m not saying this is going to happen, it’s simply a scenario that could occur and therefore something that any investor should wisely factor into their evaluation of a company.

    As for Mr. Ladd’s Buffett quote about the market being a voting machine in the short term and a weighing machine in the long term, I’m not sure why he’d venture that quote when the in the long term MGT is at a an all time low. Seems like the weighing machine and voting machine are both saying the same thing about MGT, and it isn’t good.

    What I think most people don’t get is that MGT isn’t only in the DFS game (as you correctly point out barro). My guess is that this is a pure gamble that they can buy a broken down DD, polish it up a little and then try and sell it off. The problem with tiny companies like MGT who get into several lines of business is that they end up poorly doing all of them rather than doing just one of them well. FD and DK do one thing, and they do it well. You don’t see FD and DK trying to do DFS, patent litigation, gaming studios, etc. do you?

    As for the issues with FTD, what Mr. Ladd doesn’t seem to understand is that DFS players aren’t like stock investors, they are way smarter. He’s used to dealing with stock suckers who don’t really ask questions. What he’s going to realize is that he’s going to have to be very transparent with DFS players. You can’t just shutter FTD and leave guys hanging without fully explaining what you are doing. This pissed some people off and runs the risk of losing players. Players want a site they can trust, and operating like FTD has in the past doesn’t work. The TOS thing really set a lot of people off, so did the sex offender running the business. DFS players expect honesty and if MGT is to have any shot whatsoever, they are going to have to start communicating better. They are going to have to become more transparent in their site operation and future plans. Secrecy doesn’t work in the DFS business when guys are putting up their hard earned cash.

    I hate to seem uncaring or harsh on MGT, but as another poster said earlier, it’s important to know about the companies behind the sites where you are depositing your money. Due diligence is important because we don’t need an event in the DFS industry which produces a scandal or where a big group of players lose money because of a site owner. Dig into this company, read their filings, keep up with their other business dealings, research their management, check out how much Mr. Ladd and the others are getting paid in salary and stock. Understand the problems with their patent case and the recent negative ruling. It’s important. Very important.

    As players, we all have a responsibility to protect the health and well being of the DFS industry.

    PS. As a complete side note and piece of advice, why not simply scale DraftDay down to bare bones, turn it into a pure H2H site and drop the rake to 5%?? Cut your overhead, distinguish yourself from the big three and offer a rake that cash players can’t get anywhere else? As I see it, DraftDay has NO shot in the tournament game, they are too far behind, too low traffic and they don’t have the cash to offer any sizable guaranteed tourneys. So why not try something different? Let FD and DK win the tourney game, let them draw players into the DFS industry and then acquire those guys to play cash games at DD. At least turn it into a cash positive business. Even I would play there with 5% rake, LOL.

    PSS Sorry for all the edits.

  • iconfantasyJoe

    “PS. As a complete side note and piece of advice, why not simply scale DraftDay down to bare bones, turn it into a pure H2H site and drop the rake to 5%?? Cut your overhead, distinguish yourself from the big three and offer a rake that cash players can’t get anywhere else? “

    Because lowering rake does not draw customers, it never has. Also, Statclash has recently lowered their rake to 5%, so a 5% rake is available in the industry.

    Regarding DD I just started playing there last week and the experience has been top notch.

  • Tippy

    @iconfantasyJoe said…

    “PS. As a complete side note and piece of advice, why not simply scale DraftDay down to bare bones, turn it into a pure H2H site and drop the rake to 5%?? Cut your overhead, distinguish yourself from the big three and offer a rake that cash players can’t get anywhere else? “

    Because lowering rake does not draw customers, it never has. Also, Statclash has recently lowered their rake to 5%, so a 5% rake is available in the industry.

    Regarding DD I just started playing there last week and the experience has been top notch.

    I tend to agree somewhat Joe, but the only guys who have tried lowering the rake are sites that had no traffic to begin with. I don’t think the 5% failed in those cases because people weren’t interested in saving money, but rather those sites never really had a chance in the first place because they didn’t have any customers to begin with. You could offer 1% rake, but if the site has no existing traffic people just aren’t going to play there. DraftDay already has a decent customer base which they could easily turn into a cash producing asset if they simply cut overhead, scaled back and distinguished themselves somehow.

    Also, I wasn’t suggesting that the DraftDay product wasn’t good, it’s an ok site, but nothing special and certainly nothing that isn’t offered by the bigger sites. A majority of the guys loyal to DraftDay were there well before MGT took over. What is important is can they pull new customers? To pull new customers you need BIG promotion and that cost BIG bucks. In that area they just won’t ever be able compete with the big three and their advertising budgets. I’ve run affiliate programs in DFS for the past 5 years and I can definitely say that you can only milk your current set of customers for a limited amount of time before they either go broke or switch sites. And you would be amazed how short the shelf life of most DFS players is. While they may have a decent customer base right now, it will shrink if new customers aren’t brought in at an equal rate to the ones leaving.

    You got Coke, Pepsi and Dr. Pepper while DD is RC Cola. They simply don’t have the capital to compete with the big boys and will forever be stuck a very distant fourth unless they come up with a plan to distinguish themselves and/or figure out a way to get cash positive very quickly before they run out of money. The guys running DraftDay before MGT had a good site, but they couldn’t make any money with it. MGT failed with FTD after throwing millions at it and you think they are going to do any better with DD? It takes big bucks to keep the customer base growing (or at the very least replacing the guys dropping out of the game) to produce a winner, which unfortunately MGT just doesn’t have available cash like FD or DK to dedicate right now with all their other projects and other lines of business also needing money. Of course they will say “dedicated and motivated” and all the other corporate speak, but at the end of the day all that matters is what is actually done. But also keep in mind, they get their working capital from selling stock, and that was the primary point of my above post. The stock price crashes and so does your working capital when you try to sell that stock.

    Anyway, I was just trying to offer something positive in a post that was unfortunately loaded with negatives. Like you, I’m not totally sure it would work, but at least by doing it you could possibly get the site a little closer to cash positive a little quicker and then expand later if you wanted.

    It’s Kentucky Derby party time, have a good weekend Joe.

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