Investee Company Update: Leap Gaming

RNS Number : 5435N

FastForward Innovations Limited

21 May 2020

 

FastForward Innovations Ltd / AIM: FFWD / Sector: Closed End Investments

21 May 2020

FastForward Innovations Ltd ("FastForward" or, "FFWD")

Investee Company Update: Leap Gaming

FastForward Innovations Ltd, the AIM quoted company focusing on making investments in fast growing and industry leading businesses, is pleased to note the update from IMG Arena ('IMG') that it is to begin offering bookmakers a virtual sports betting product for the NASCAR US stock car racing series, as well as distributing the international betting streaming rights for the first time. FastForward has a 43.4% interest in Fralis LLC ('Leap Gaming'), which has a strategic partnership with IMG Arena.

Leap Gaming is a B2B developer of high-end gaming applications whose realistic 3D immersive games are offered by leading online and retail gaming operators around the world.   In 2018, it formed a strategic partnership with IMG Arena, a data system division of global sports, events and entertainment agency IMG, to add additional services to the existing live streaming and data offered by IMG Arena across different sports. This partnership sees the two companies collaborating on sales and product development initiatives; IMG Arena also holds an equity stake in Leap Gaming. 

IMG Arena, today, entered into an agreement with NASCAR which licenses IMG Arena official assets to create the virtual sports betting game for the NASCAR US stock car racing series and offer the product to sports betting operators worldwide (the 'Agreement'). The game was developed in partnership with Leap Gaming and will replicate famous Nascar tracks, including Daytona International Speedway, TTalladega Superspeedway and Watkins Glen International.  The Agreement will add to I MG ARENA's growing portfolio of virtual sports betting products, which now includes tennis, football, cycling, horse racing, speedway racing and greyhound racing.

Ed McDermott, CEO of FastForward, commented: "Leap Gaming continues to make strides in advancing its pipeline of products in partnership with IMG Arena. The Agreement with Nascar represents yet another high-profile client that has recognised the capabilities and track record of Leap Gaming and its ability to develop cutting edge immersive games that appeal to a global audience. "

ENDS

For further information on the Company please visit www.fstfwd.co   or contact:

Ed McDermott / Lance de Jersey	FastForward Innovations Ltd	Email: [e-mail]
James Biddle / Roland Cornish	Beaumont Cornish Limited, Nomad	Tel: [phone]
Jeremy King	Optiva Securities Limited, Broker	Tel: [phone]
Isabel De Salis / Beth Melluish	St Brides Partners Ltd, Financial PR	Tel: [phone]

Notes

FastForward innovations is an AIM quoted investment company focused primarily on disruptive high growth life sciences and technology businesses particularly within the medical cannabis arena. The Company's strategy is to identify early stage opportunities that have an upcoming investment catalyst and grow its portfolio in terms of value whilst limiting the number of investee companies to a level where relevant time can be devoted to each.

 

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