Monday April 11,.2016 : LEAP GAMING SECURES SUBSTANTIAL INVESTMENT
FastForward to acquire 41.5 percent stake.
Virtual sports and casino provider Leap Gaming has secured a $2.5 million investment from the sale of an initial 29.4 percent stake in parent company Frails LLC by FastForward Innovations Ltd (FastForward).
Under the terms of the deal, a further acquisition agreement of an additional 11.75 percent stake, to be effected within 30 days, for a consideration of $1 million is on the table which will bring FastForward’s total stake in the company to 41.5 percent.
"The LeapGaming investment is another example of an investment aligned with our core philosophy. We invest in visionary entrepreneurs like the team at Leap who are developing innovative technologies to solve problems in their industries," commented Lorne Abony, chief executive officer of FastForward in a press statement.