What’s Going on with Engine Media?
Eports gaming firm, Engine Media (GAME), has announced that it filed a patent infringement lawsuit against DraftKings Inc. (DKNG). The suit was filed by Engine Media’s Winview Inc. subsidiary in the United States District Court for the District of New Jersey. Before market open today, GAME shares increased 13.15%, hitting $12.56 a share. DKNG stock fell 4.64%, down to $46.49 per share.
What Does This Mean for GAME?
The action filed against DraftKings in New Jersey alleges that some of the gaming services provided by DraftKings infringe on patents owned by Winview. Morgan Chu of Irell & Manella, LLP and Thomas R. Curtin of McElroy, Deutsch, Mulvaney & Carpenter, LLP. are representing Winview in this legal matter.
"Winview is an important operating unit of Engine Media, providing cash games of skill as part of the viewing experience of both traditional sports and esports,” Engine Media Executive Chairman Tom Rogers remarked in refererence to the patent infringement lawsuit. “In addition,” he continued, “Winview has a growing portfolio of 80 issued United States patents, many of which relate to mobile sports betting and online gaming technologies. We will continue assessing how we can protect our intellectual property."
