SOURCE: Leap Forward Gaming

Leap Forward Gaming

May 09, 2013 11:00 ET

Leap Forward Announces Closing of Financing From Macquarie Capital

RENO, NV--(Marketwired - May 9, 2013) - Leap Forward Gaming, Inc. (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."

Ali Saffari, Leap Forward founder and CEO, said, "We are pleased to have this financing in place. 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."

Saffari continued, "We are extremely pleased to have completed this phase of our funding strategy. 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."

About Leap Forward Gaming, Inc.

Leap Forward Gaming (LFG), headquartered in Reno, NV, specializes in the innovation, development, design, manufacture and operation of the SaffariNet® multimedia ecosystem. SaffariNet® promises to revolutionize how gaming devices, peripherals, wide-area progressives, player-tracking systems, mobile devices and server-based systems communicate wirelessly and interact across casino floors. Patron Display Interface (PDI) is LFG's scalable, low-cost, turn-key picture-in-picture solution that works seamlessly with all brands and generations of gaming machines and systems to develop, dynamically manage and present content to players. PDI offers targeted marketing and bonusing campaigns, progressives and seamlessly integrates with multiple player tracking and CRM systems. As part of the patented SaffariNet® ecosystem, PDI agnostically provides operators with high flexibility, and agile content production and implementation utilizing the latest web-based technologies. For more information, please visit www.leapforwardgaming.com.

Contact Information

  • Contact Information

    Paul Speirs-Hernandez
    Steinbeck Communications
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