FastForward Innovations Ltd (LON:FFWD) said it expects a new vintage basketball betting product to add another significant revenue stream to investee company Leap Gaming.
FFWD, has a 43.4% stake in Leap Gaming (Fralis LLC), which is in partnership with IMG Arena, the data division of IMG the sports management giant.
IMG is working with Euroleague, which runs Europe’s top basketball competitions, on virtual events and live streaming and has now created a new product Euroleague Legends based around vintage footage.
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 was created by Leap Gaming, IMG said.
Ed McDermott, FastForward’s chief executive, added: “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.”