Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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I see what you mean RTN. Leap could be a game changer here if we are all patient enough to hold out for the best deal.
Just to be absolutely clear (in case some people get confused/concerned) it's not LEAP with the huge debt, it's the competitor that oldmanriver mentioned, that I was referring to.
Hedgehog - no worries ;)
oldmanriver - it's worth noting they're carrying a quarter of a billion dollars in debt on their balance sheet. That MCAP would be miles higher if it wasn't. You could probably treble that number.
"It's got to be a prime candidate for IMG to consider gobbling up, whether to save paying LEAP and keep the profits, or to steal a march on competitors by making it a differentiator for them, and denying competition access to it."
Sorry Rich ... I hadn't seen your post 18 minutes before mine!
A logical buyer for FFWD's share of Leap would be its fellow shareholder in LeapIMG Media:
From FFWD's 11.9.19 interims:
" ... Having initially sought to sell our holding in Leap in late 2017, we changed approach and invested further funds into Leap Gaming in mid-2018 in conjunction with IMG Media Ltd. The deal concluded with IMG Media Ltd achieved this without our exit and enabled Leap to align itself with such a leading global brand.
As discussed in previous reports, the initial decision to sell was predicated on Leap's need to join with a strategic partner to facilitate its continued growth and since this time, Leap has continued to develop, resulting in a significant uplift in value as reflected in this year's NAV. We continue to be open to considering a sale of our (now substantial) shareholding to both realise our investment (in line with our refocusing of the FastForward portfolio) and enable a new partnership for Leap with a major shareholder more aligned to the gaming market and with synergies to take it to the next stage in its development. ..."
https://www.lse.co.uk/rns/FFWD/fastforward-inn-ltd-results-for-the-year-ended-31st-march-2019-zrk1qpvbcpsjais.html
IMG Media are a major player, and are growing rapidly : they had £464.07M turnover in 2018 , an increase of 111.23% v. 2017).
"Leap Gaming scores with IMG
12 June 2018
Global media giant IMG has entered a strategic partnership with virtual sports developer Leap Gaming.
IMG said the partnership strengthens its drive to provide the broadest portfolio of technology driven betting and gaming solutions for its global customer base.
IMG said Leap’s suite of products will complement IMG’s existing streaming and official data services within its gaming operation. It added that the alliance “will generate significant strategic momentum for both businesses”. ..."
https://www.igamingbusiness.com/news/leap-gaming-scores-img
The graph on that page suggests it's for this quarter. However it seems to be showing the revenue for the quarter as 9.5m not for the year (and different figures for other quarters).
I'm not sure it's very accurate as I've just compared it to a different listed company's revenue figures from their RNSed half year reports and the figures are completely different. And also has figures for the period not even ended.
This is probably one of there biggest competitors. Listed on the Nasdaq with a Mkt cap of approx £130M. I realise there are differences but if we are only worth 1/4 of this, it gives some idea of the value to us.
https://inseinc.com/
It's got to be a prime candidate for IMG to consider gobbling up, whether to save paying LEAP and keep the profits, or to steal a march on competitors by making it a differentiator for them, and denying competition access to it.
Thanks for yet more fantastic news from one of FFWD's best investments.
Latin America has a population of about two thirds of a billion, so this is a huge market.
And remember that FFWD currently holds 43.4 per cent. (on a fully diluted basis) of the issued share capital of Leap Gaming.
From FFWD's 27.9.19 RNS:
" ... Lorne Abony, Chief Executive Officer of FastForward, and the nominee director of the Company on the Leap Gaming board commented: "Leap Gaming has had an excellent 12 months since June 2018, winning major gaming clients such as Mansion and achieving significant growth (ahead of forecasts) across all key metrics in its business plan. The traction gained with new products, customers and markets are all driving revenue and customer growth, which supports FFWD's view that the next 12 months are very exciting in terms of what Leap Gaming can achieve. It is clear that the widening of the Leap shareholder base has been a huge factor in the outstanding performance by Leap over the last 12 months and the integration of products is continuing with new products being launched over the next 6 months (most notably golf in H1 2020). I would again like to place on record my thanks to Yariv and his team - they are working incredibly hard and beginning to deliver on the potential FFWD saw when we originally invested. ... "
https://www.lse.co.uk/rns/FFWD/investee-company-update-fralis-llc-leap-gaming-wqa59wp1hp8y3gj.html
Yes you both did, just makes Leap even stronger in this sector , Leap should and will give FFWD a good return on there investment if and when the decide to sell it .
1X2 Network has signed a new deal in Latin America to provide content aggregator Patagonia Entertainment with its full suite of games. Under the terms of the deal, Patagonia will integrate content from 1X2 Network’s 1X2gaming and Iron Dog Studio subsidiaries plus virtual sports titles from strategic partner Leap Gaming.
As a result, LatAm operators powered by Patagonia Entertainment will gain access to a broad selection of game titles, while benefiting from Leap Gaming’s 3D virtual sports titles that are built on 1X2’s platform, with games offered across football, tennis, horses, greyhounds, speedway and more.
Kevin Reid, Chief Commercial Officer at 1X2 Network, said: “Latin America has huge potential and we are thrilled to grow our partnerships across the region.
“Our titles have enjoyed huge success in markets around the world and we believe they will be just as popular among players in the rapidly growing Latin American market.”
Samuel Lewis, Business Development Manager at the firm, commented: “We are delighted to be entering the Latin American market and partnering with Patagonia.
We always strive to provide the best experience to players in all regions and this agreement is a major step towards achieving that. We are excited to have the opportunity to combine our ever growing content with Patagonia’s regional expertise, and really look forward to seeing where this partnership can take us’’
Patagonia Entertainment’s Global Business Development Manager Victor Arias added: “We go to great lengths to provide our operator partners with the best online casino content on the market so partnering with 1X2 Network was an easy decision for us.
“The Latin American market continues to develop and mature, and player demands are changing, which is why it is so vital for operators to offer proven content from established developers such as 1X2 Network.”