Leap Gaming19 Feb 2020 14:34
Jan 17
Started IPO process received an approach from an existing partner regarding a possible cornerstone investment in the business ahead of a proposed IPO
Nov 17
Ffwd received initial bid of $4.9 million
May 18
The supreme court struck down a federal law that bars gambling on football, basketball, baseball and other sports in most states, giving states the go-ahead to legalize betting on sports.
Hence....
June 18
Ffwd subscribed for further shares as IMG bought 25%
Lorne at time “I was always reluctant to dispose of Leap Gaming but recognised Leap's need to join with a strategic partner to facilitate its continued growth. While there was an expectation that this could only be brought about by a FastForward disposal, the deal concluded today has enabled Leap to align itself with a leading global brand."
Sudsequently IMG created IMG Arena with Leap gaming sports portfolio fully integrated within it.