FastForward Innovations Buys 41.15% Stake in Leap Gaming
It had been confirmed on Monday that FastForward casinos free online Innovations Ltd. has acquired an initial 29.4% stake in provider of 3D technology for the gambling that is international Leap Gaming.
The investment represents FastForward’s very first foray into the gambling industry, though it has long been seeking to spend money on that specific sector. The company is about to get another 11.76per cent stake into the gaming provider over the following thirty days, therefore bringing its desire for Leap Gaming to 41.15per cent. FastForward would be to spend the amount that is total of3.5 million. It is to finance best online casinos no deposit its acquisition that is latest with existing money resources.
The organization initially subscribed for 693 units in Leap Gaming for the total amount of $2.5 million in money, equaling a 29.4% stake. As stated above, FastForward is to get 277 units within the upcoming thirty days for the total amount of $1 million in cash. New shares equaling $250,000 will be given upon the transaction’s completion.
Generally speaking, FastForward is known to become a technology and biotechnology investor looking to expand and develop its portfolio of investees in several business sectors. The purchase of the 41.15% fascination with Leap Gaming brings the amount of FastForward investee organizations to eight.
Commenting in the announcement that is latest, FastForward CEO Lorne Abony stated in a statement that the Leap Gaming investment is indicative of these dedication to follow their online mobile casinos core strategy.