FastForward Innovations Buys 41.15% Stake in Leap Gaming
It had been verified on Monday that FastForward Innovations casinos online slots Ltd. has acquired a preliminary 29.4% stake in provider of 3D technology for the worldwide gambling industry Leap Gaming.
The investment represents FastForward’s first foray in to the gambling industry, even though it has long been seeking to invest in that particular sector. The company is about to get another 11.76% stake into the video gaming provider over the following four weeks, therefore bringing its desire for Leap Gaming to 41.15per cent. FastForward would be to pay the total number of $3.5 million. It really is to fund its latest acquisition with existing cash resources.
The organization initially subscribed for 693 devices in Leap Gaming for the total amount of $2.5 million in cash, equaling a 29.4% stake. As mentioned above, FastForward is to get 277 devices into the upcoming thirty days real casinos online slots for the amount of $1 million in cash. New stocks equaling $250,000 will be released upon the deal’s conclusion.
Generally speaking, FastForward is famous to be a biotechnology and technology investor planning to expand and develop its profile of investees in various business sectors. The purchase of the 41.15per cent interest in Leap Gaming brings the true quantity of FastForward investee companies to eight.
Commenting in the announcement that is latest, FastForward CEO Lorne Abony stated in a declaration that the casinos online canada Leap Gaming investment is indicative of their commitment to follow their core strategy. Continue reading FastForward Innovations Buys 41.15% Stake in Leap Canadian Online Casinos That Accept Paypal Gaming