IMG Arena announces landmark purchase of Leap Gaming

IMG ARENA has announced the purchase of Leap Gaming, a respected developer of casino and virtual sports products with a significant reach and track record in the iGaming industry. The acquisition is part of IMG ARENA’s strategic growth in the sports betting sector, with the deal set to be completed in the first half of 2023, the company confirmed, subject to all customary closing conditions.

A regulatory review process is also going to be a part of the clearance requirements before IMG ARENA can take over Leap Gaming. The deal is not surprising, as the two companies have been working together for a while, including, and have insisted on a shared vision to create an official version of virtual sports that features logos, team names, venues, and more branded assets, plunging into another potential revenue stream for the sports betting experience.

The merger was hailed by IMG ARENA President Freddie Longe who praised the opportunity to further strengthen the bond between the two companies. Longe said that when IMG first invested in LEAP back in 2018, the company wanted to seek a way to leverage technological expertise and unlock new revenue streams, create new forms of betting content, and add true value and engagement opportunities for clients. He added:

"The acquisition will enable us to build on the work we have already done with Leap to take the virtual sports experience to new levels and continue to enhance our sports betting content portfolio."

IMG ARENA and Leap Gaming have already ventured into similar projects, having collaborated on virtual betting products with both EuroLeague and NASCAR. IMG and Leap bring advanced products such as the Event Center suite and 3D & motion capture tech respectively.

Leap Gaming CEO Yariv Lissauer was similarly thrilled with the opportunity to merge the two businesses. It’s a natural union, Lissauer assured, arguing that IMG and Leap had too much in common when it came to culture, vision, and product synergies. Presently, IMG ARENA offers live streaming feeds for more than 45,000 sports events and has teamed up with a number of prominent sports organizations, to name UFC, PGA Tour, MLS, ATP, and many others.

No information about any restructuring in the company and executive teams or information about the financial considerations of the deal has been offered at press time. Leap Gaming has been expanding activities in the meantime, signing partnerships in both Romania and Sweden over the past months.

Image credit: IMG Arena