Investee Company Update: Leap Gaming

RNS Number : 7223N

FastForward Innovations Limited

02 February 2021

 

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

2 February 2021

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 on the launch of a unique new betting product in partnership with EuroLeague, the company owns and administers Europe's premier professional basketball competitions. FastForward has a 43.4% interest in Fralis LLC ('Leap Gaming'), which has a strategic partnership with IMG Arena and has developed the Euroleague product in 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, which provides bookmakers with live streaming and virtual sports products.  This partnership sees the two companies collaborating on sales and product development initiatives; IMG Arena also holds an equity stake in Leap Gaming. 

Ed McDermott, CEO of FastForward, commented: "Leap Gaming has once again demonstrated its world-leading ability to develop totally unique and innovative products that challenge other gaming developers worldwide and take gaming experiences to new levels. Since EuroLeague Basketball agreed the joint venture partnership with IMG Arena in 2015-16, both television and live audiences have increased, with 1.3 billion viewers cumulatively watching the EuroLeague on television during the 2018/19 season. The extension of this partnership with the launch of EuroLeague Instant Legends will have a significant impact on Leap Gaming, adding another important revenue stream to its suite of products across the global gaming operators."

Full Announcement Below

IMG ARENA LAUNCHES NEW VINTAGE BETTING PRODUCT IN PARTNERSHIP WITH EUROLEAGUE BASKETBALL

Play-on-demand offering boosted with creation of EuroLeague Legends product that features 10 years' highlights footage

LONDON, UK -2nd February, 2021 - IMG ARENA, a leading sports betting service and content hub, has expanded its long-standing partnership with Euroleague Basketball with the launch of EuroLeague Legends, an innovative new product line.

EuroLeague Legends uses official vintage footage from top players over the past 10 years to create instant betting events via randomly grouped clips. The product has been created by Leap Gaming*.

Euroleague Basketball, which has been an IMG ARENA partner since 2015, is the organizer of Europe's premier professional basketball competition the Turkish Airlines EuroLeague and also runs the 7DAYS EuroCup.

Freddie Longe, Managing Director at IMG ARENA, said: "We are extremely proud of our partnership with Euroleague Basketball. There can be no doubt that  they organize one of the world's leading basketball leagues and we are delighted to be extending our relationship further with the launch of this exciting new product vertical. "

He added: "When we invested in Leap Gaming, our vision was to create official products and unlock new revenue streams and forms of fan engagement for our clients. In EuroLeague Legends we believe we have developed a successful new concept for our always-on content portfolio."

Roser Queralto, Chief Business Officer at EuroLeague Basketball, said: "IMG ARENA has been a key partner for the EuroLeague, and we are thrilled to have teamed up to create EuroLeague Legends. The game is an untapped and creative application of our archive broadcast rights and we look forward to presenting this to basketball and wider sports fans through IMG ARENA's sportsbook partners."

Headquartered in London, IMG ARENA works with more than 460 leading sportsbook operators worldwide, providing always-on services including 24/7 live streaming and on-demand virtual sports products designed to evolve and inspire engagement by placing fans at the heart of the action. In 2019, more than 175 million hours of IMG ARENA content was watched by 56 million unique viewers around the globe. IMG ARENA's clients include the ATP, UFC, the European and PGA Golf Tours, the FA Cup and Serie A.

*IMG ARENA has been an investor in Leap Gaming since 2018. The two companies have a shared vision of developing official virtual content for federations and leagues such as EuroLeague.

ENDS

About IMG

IMG is a global leader in sports, fashion, events and media. The company manages some of the world's greatest athletes and fashion icons; owns and operates hundreds of live events annually; and is a leading independent producer and distributor of sports and entertainment media. IMG also specializes in licensing, sports training and league development. IMG is a subsidiary of Endeavor, a global entertainment, sports and content company.

About Euroleague Basketball

Euroleague Basketball (EB) is a global leader in the sports and entertainment business, devoted to running the top European competitions of professional basketball clubs under a unique and innovative organizational model. Owned and administered by some of the most successful and historic clubs in the world, EB manages and organizes the continent's two premier men's basketball competitions, the Turkish Airlines EuroLeague and the 7DAYS EuroCup, as well as the sport's premier under-18 showcase, the EB Adidas Next Generation Tournament.

The EB competitions bring the elite of European basketball to all five continents and to the entire sports community through the OTT platform EuroLeague TV. EB also organizes a series of community and educational programs. Its ground-breaking corporate social responsibility program One Team features all EB clubs that have already made a difference in the lives of over 22,000 participants. Its Sports Business MBA trains future professionals in sports management.  

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]
Isabella Pierre / Damon Heath	Shard Capital Partners LLP	Tel: [phone]
Catherine Leftley / 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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