TIDMFFWD
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 FastForward Innovations Email: info@fstfwd.co
de Jersey Ltd
James Biddle / Roland Beaumont Cornish Limited, Tel: +44 (0) 20 7628
Cornish Nomad 3396
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Isabella Pierre / Damon Shard Capital Partners Tel: (0)20 7186 9927
Heath LLP
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Catherine Leftley / St Brides Partners Tel: +44 (0)20 7236
Beth Melluish Ltd, 1177
Financial PR
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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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END
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(END) Dow Jones Newswires
February 02, 2021 06:09 ET (11:09 GMT)
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