The two victims, 25-year-old Sean and 23-year-old Josh, were wrapping up at about 2:30 a.m. after playing the game for half an hour when a car pulled up alongside them.
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Sister station ABC7 agreed to only identify the victims by their first names for safety reasons.
"The car had rolled up with four people in it. One hopped out and told us to give them everything we got. He came up to both of us and tried to throw me on the ground," Josh recalled.
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Sean, a Marine veteran, said the suspect had a gun.
"It was pretty scary, but when something like that happens it's fight or flight," Sean said. "I pulled out my knife and I rushed him."
"I get hit down and I try to get up and he hits me again so I hit him a couple of times in the shin with a knife," Sean recalled.
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Now bleeding, Sean said he managed to get back up and wrestle the gun loose.
"He started to turn around and looked like he was going to shoot me," Sean described. "I wrestled him for the gun, the gun drops, he loses his shoes also."
Sean said the suspect took off empty-handed, but not before trying to run the Sean and Josh over in a tan four-door older-model car, possibly a Chevrolet Impala.
The "Pokemon Go" players located part of the upper barrel of the handgun and the suspect's shoes, which they turned over to the Lakewood division of the Los Angeles County Sheriff's Department.
During the scuffle, Sean suffered a broken nose and also had to get stitches to his upper lip and index finger.
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The two said they plan to layoff playing "Pokemon Go" at night, at least in the meantime, and warned others to be careful.
"Be wary, have some form of defense and safety in numbers," Josh said.
The suspect was described as an African American male about 18 to 25 years old, standing about 5-feet-10 inches tall, weighing about 160 pounds with a slim build, and was last seen wearing a white headband, dark shirt, and gray or blue sweatpants.
He may also have cuts to his shin caused by Sean's knife.
If you have any information that could aid detectives in their investigation, you were urged to call Los Angeles Crime Stoppers at 1-800-222-8477. Callers can remain anonymous.