FastForward Innovations Buys 41.15% Stake in Leap Gaming
It had been verified on Monday that FastForward Innovations Ltd. has obtained a preliminary 29.4% stake in provider of 3D technology for the worldwide gambling industry Leap Gaming.
The investment represents FastForward’s very first foray in to the gambling industry, even though it is certainly seeking to purchase that specific sector. The organization is likely to acquire another 11.76% stake into the gaming provider over the following 30 days, thus bringing its fascination beat online casinos with Leap Gaming to 41.15per cent. FastForward would be to pay the amount that is total of3.5 million. Its to finance its acquisition that is latest with current cash resources.
The business initially subscribed for 693 units in Leap Gaming for the amount that is total bc online casinos of2.5 million in money, equaling a 29.4per cent stake. As mentioned above, FastForward would be to acquire 277 devices into the future thirty days for the amount of $1 million in money. Brand New stocks equaling $250,000 is going to be granted upon the deal’s completion.
Broadly speaking, FastForward is well known to be always a biotechnology and technology investor looking to expand and develop its profile of investees in several business sectors. The purchase of the 41.15% fascination with are online casinos rigged Leap Gaming brings the number of FastForward investee companies to eight.
Commenting on the announcement that is latest, FastForward CEO Lorne Abony stated in a statement that the Leap Gaming investment is indicative of the commitment to follow their core strategy.