Leap Gaming to target North America & Asia after $3.5m investment

Leap Gaming to target North America & Asia after $3.5m investment

Monday, June 6, 2016 Posted by Andy McCarron
The potential of the Virtual Sports market is attracting outside investment in the shape of Fast Forward Innovations.

Games developer Leap Gaming is intending to target North America and Asia with its virtual products after attracting USD$3.5m investment from FastForward Innovations.

Leap Gaming, a developer of 3D and Virtual gaming technology with a focus on Virtual Sports and Casino games, has said that it will use funds to accelerate development of Virtual Sports and Casino titles, ramp up sales and significantly increase engineering staff.

Yariv Lissauer, CEO of Leap Gaming, explained that the investment will enable the company to continue to grow. “We intend to extend our reach also to North America and Asia,” he explained. “There are team and individual titles we are working on at this time and whose development work the investment will help us accelerate.”

He also emphasised the significance of being able to offer in-play betting: “We believe it is extremely important as it comprises another critical authenticity layer to the product and therefore increases the immersive nature of the application and at the same time should bolster generated revenues.”

AIM-listed FastForward invests in emerging technology companies with ‘significant intellectual property rights’ and has decided to heavily back Leap Gaming.

CEO Lorne Abony commented: “I am delighted that we are invested in Leap Gaming, our largest investment to date. We are excited with what we have seen the team accomplish so far. Their technology is transformational and is totally disruptive in gaming, with a massive opportunity to break into land-based markets. We’re excited to be working with the team to help make their vision a reality.”

Lissauer added: “The investment from FastForward is a meaningful indicator of the positive momentum we have been building, we’re glad to be welcoming FastForward as a shareholder and partner and we look forward to significantly accelerating our growth.”

With the money Leap wants to bolster its development capabilities significantly in the current year, with an aim to nearly double its R&D headcount. The company will also add sales & marketing staff, to accelerate its reach into land-based gaming operators globally.

Former Bwin CEO Norbert Teufelberger, who works as a special adviser for FastForward, added: “Leap’s technology is transformational in the gaming and leisure space, not only is it a game changer on digital channels; like mobile and web, but the opportunity to further break into land-based markets is now bigger then ever, I’m excited to be working with team to help make their vision a reality.”

Leap also plans to further grow its cross-platform integrations, enabling its games to be played across all platforms.

Lissauer commented: “End-users love using Leap’s products on desktop and mobile and we have received tremendous feedback from land-based operators and their customers, who are delighted by the experience we provide. We intend to seize upon that opportunity to bring the Virtual experience to many more land-based operators.”

Totally Gaming Says: "There is a growing interest in Virtual Game products from around the world and this external investment in Leap Gaming underlines how big some people believe the market will grow. A long mainstay of the UK betting market, virtuals have really taken off in Italy in recent years and are also popular in African betting markets. 

"The variety of sports on offer means there is still room for much more innovation in the market as well. Visitors to this year's ICE Totally Gaming exhibition for example will have seen Golden Race's Real Fighting virtual game featuring real MMA fighters, giving an indication of what is possible in the future."

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