SEED Innovations Ltd (AIM:SEED, OTC:FFRIF) said its portfolio company Fralis LLC, trading as Leap Gaming, has been granted a content supply license by the UK Gaming Commission (UKGC).
SEED, the AIM quoted investor with a focus on medical cannabis, health and wellbeing, has roughly £4.7mln invested in Leap, representing 43.75% of the Israeli company.
Leap Gaming, a business-to-business developer of 3D gaming applications, now has access to the UK, as well as Sweden, the Netherlands, Romania, South Africa and Greece, SEED said in a statement.
Acording to the Gambling Commission, the regulated gambling industry in Great Britain generated a gross gambling yield of £14.1bn between April 2019 and March 2020.
Ed McDermott, chief executive of SEED, commented: "We are extremely pleased to see the UK licence finally awarded to one of our long-term investments, Leap.
"We feel this key milestone was critical before any liquidity event for Leap's shareholders.”