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Macquarie Capital to fund substantial financing package for Leap Forward Gaming10 May 2013RENO, Nev. (PRESS RELEASE) -- Leap Forward Gaming (LFG), a leader in providing gaming industry solutions, announced today that Macquarie Capital has committed to and funded a substantial financing package for LFG, including both debt and warrants. Leap Forward’s business has grown substantially in the past two years and a number of large gaming operators have made LFG their preferred picture-in-picture and wireless equipment supplier. The financing package provides LFG with the financial flexibility to continue to grow the business aggressively and execute its strategy in deploying the SaffariNet® multimedia ecosystem technology to gaming, table, lottery, social gaming and online gaming markets. "Leap Forward has an exciting vision and has proven its business model through their successful early-stage results and solid picture-in-picture patent portfolio," said David Berman, senior managing director of the Gaming, Lodging and Leisure Group for Macquarie Capital. "They have a growing domestic and international customer base, and this financing will support LFG in its next phase of product and market growth and strategy." "The space in which Leap Forward is operating and their patented SaffariNet® ecosystem technology has been well received by many operators. Casino operators are coming under increasing pressure to differentiate and grow their properties in this challenging economy," said Berman. "The fresh cutting-edge approach taken by LFG directly addresses many market issues and allows operators and manufacturers to quickly, easily and affordably provide players with outstanding new marketing and bonusing campaigns, and to attract a new generation of players, consequently increasing revenue." "We are pleased to have this financing in place," said Ali Saffari, Leap Forward founder and CEO. "After an in-depth review of LFG’s operations and potential, Macquarie sees the underlying value proposition and the business development progress we’ve made in delivering an innovative, game-changing and cost effective solution for the casino industry. Macquarie’s flexible approach to financing its clients really stands out.” “We are extremely pleased to have completed this phase of our funding strategy," Saffari continued. "Completion of the funding allows us to execute our growth strategy with additional initiatives and enhanced products that will launch into new markets this year. The size and structure of the funding arrangement allows LFG to take full advantage of immediate market opportunities and continue to realize our growing market leadership position. The interest of our major operators in expanding our capabilities and features is necessitating the need to increase our resources to engage a bigger market share." |