Welcome to our dedicated page for Inspired Entertainment news (Ticker: INSE), a resource for investors and traders seeking the latest updates and insights on Inspired Entertainment stock.
Inspired Entertainment, Inc. (NASDAQ: INSE) is a prominent gaming technology company based in the United States, specializing in providing high-quality gaming and betting solutions worldwide. The company's core business includes the development of Virtual Sports and Server-Based Gaming (SBG) systems, along with the associated terminals and digital content for regulated betting, gaming, and lottery operators.
Operating through four primary segments—Gaming, Virtual Sports, Interactive, and Leisure—Inspired Entertainment boasts a diverse portfolio designed to enhance revenue opportunities for its partners. The Gaming segment is the largest revenue contributor, supplying gaming terminals as well as gaming software and games to betting offices, casinos, gaming halls, and high-street adult gaming centers.
Inspired Entertainment's reach is vast, with operations in approximately 35 jurisdictions worldwide. The company manages around 50,000 gaming machines, a majority of which are powered by their proprietary Inspired Open SBG Core™ platform. Their innovative Virtual Sports products are available through more than 32,000 retail venues and various online platforms, appealing to a broad spectrum of players.
Key customers include major regulated gaming companies such as William Hill, Ladbrokes, and Sky Vegas, as well as international operators like Sisal and Lottomatica. The company is also a leading supplier of Video Lottery Terminals (VLT) to Italian casinos and betting shops.
Recent notable achievements include a strategic partnership with Kambi Group, which integrates Kambi's premier sports betting technology with Inspired's Virtual Sports games. This collaboration aims to offer a dynamic and easily integrated new revenue stream for operators within the Kambi network. Additionally, Inspired's Virtual Sports have seen significant growth in North America, introducing popular games like basketball, football, and women's soccer.
Financially, Inspired Entertainment has consistently demonstrated robust performance, with recent expansions and partnerships further solidifying its market position. The company’s commitment to innovation and quality is evident in its expanding portfolio of gaming, betting, and amusement entertainment solutions.
Inspired Entertainment (NASDAQ: INSE) has expanded its partnership with Aristocrat Interactive to provide Virtual Sports games to the Virginia Lottery through NeoPollard Interactive. This makes Virginia the first U.S. lottery to offer Inspired's online V-Lottery content. The initial launch, scheduled for mid-2025, will include virtual football, basketball, and horse racing games, accessible through the Virginia Lottery website and mobile app.
The collaboration involves NeoPollard Interactive , jointly owned by Pollard Banknote and Aristocrat Interactive, and aims to transform the iLottery gaming landscape while generating additional funds for good causes. The Virginia Lottery sees this as a strategic move to attract new players and enhance gameplay experiences.
Inspired Entertainment (NASDAQ: INSE) reported Q3 2024 financial results with total revenue of $78.0 million, driven by record Interactive revenue growth of 40% year-over-year. The company achieved net income of $3.4 million and Adjusted EBITDA of $30.1 million, up 13% from 2023. Interactive segment showed strong performance with EBITDA increasing 47% and margin expanding to 67.6%. Gaming segment EBITDA rose 29% year-over-year, while Leisure segment delivered 5% revenue growth. The company announced strategic partnerships, including agreements with NHL, Loto-Québec, and FanDuel, and appointed James Richardson as new CFO effective January 2025.
Inspired Entertainment (NASDAQ: INSE) has appointed James Richardson as Chief Financial Officer and Chief Accounting Officer, effective January 1, 2025. Richardson joins from Manchester Airports Group, where he served as Group Commercial Finance Director. With nearly 30 years of experience, he previously held key positions at William Hill plc's online betting division, DFC Global Corp, and Global Payments Inc. The appointment comes as Inspired continues to expand its digital vertical and achieve growth in its online gaming business. The company currently operates in approximately 35 jurisdictions, managing 50,000 gaming machines, virtual sports products across 32,000 retail venues, and digital games for 170+ websites.
Inspired Entertainment (NASDAQ: INSE) has announced it will release its third quarter 2024 financial results on November 7, 2024, after market close. The company will host a conference call and webcast on November 8, 2024, at 8:00 a.m. ET to discuss results and business trends.
Inspired operates in 35 jurisdictions worldwide, providing gaming systems for approximately 50,000 gaming machines, virtual sports products across 32,000 retail venues, digital games for 170+ websites, and amusement solutions with over 16,000 terminals installed.
Inspired Entertainment (NASDAQ: INSE) has announced a strategic partnership with FanDuel, a leading online gaming platform in the United States. The collaboration will integrate Inspired's Hybrid Dealer suite of content and develop a bespoke sports-themed wheel game for FanDuel's audience.
Hybrid Dealer is a patented online product category offering casino and gameshow content without the challenges of live-dealer products. This partnership aims to enhance FanDuel's gaming portfolio and provide users with a unique and immersive gaming experience.
Brooks Pierce, President and CEO of Inspired, expressed excitement about the partnership, highlighting the expansion of FanDuel's gaming offerings and the showcase of Hybrid Dealer technology's versatility and appeal.
Inspired Entertainment (NASDAQ: INSE) has extended its long-term Virtual Sports partnership with OPAP, Greece's leading gaming company. Since 2017, Inspired has been the exclusive provider of Virtual Sports across OPAP's network of over 3,000 retail venues in Greece. The company currently offers five V-Play products including Soccer 3, Matchday, NBA Re-Play, Greyhounds, and Marbles games.
Brooks Pierce, President and CEO of Inspired, expressed enthusiasm about the extension, highlighting the partnership's success in enhancing Greece's retail gaming experience. Jan Karas, Chairman and CEO of OPAP, emphasized their focus on providing unique customer experiences and satisfaction with the Inspired Entertainment cooperation. Both companies are optimistic about the future of Virtual Sports and the potential for continued success through innovation and collaboration.
Inspired Entertainment (NASDAQ: INSE) has announced the upgrade of 4,000 Video Lottery Terminals (VLTs) for its long-term partner, OPAP, Greece's leading gaming company. As OPAP's largest VLT supplier, Inspired will provide 4,000 of its latest VLTs, including the global launch of the innovative Valor Slant VLT. The Valor Slant, designed exclusively for the Greek market, features dual 32-inch HD screens and aims to deliver an exceptional gaming experience.
The rollout of the Valor Slant and additional Vantage machines is set to begin in the coming months, further enhancing OPAP's offerings. This upgrade complements OPAP's existing VLT product range, which includes the proven Valor and Vantage cabinets. Inspired Entertainment currently has more than 9,400 machines in the Greek market through its partnership with OPAP.
Inspired Entertainment (NASDAQ: INSE) has announced that Loto-Québec will be the first customer in Canada to offer their Hybrid Dealer Roulette game in Q4 2024. This innovative online product combines Virtual CGI and pre-recorded real-life hosts to mimic a live casino experience without the challenges of live-dealer products.
The game features a countdown timer, synchronized results for all players, leaderboards, and chat functionality, creating a dynamic social gaming experience. Inspired's President and CEO, Brooks Pierce, emphasized the game's innovative nature and high-quality graphics. Francois Hardy, senior director at Loto-Québec, expressed confidence that the game will resonate with players and enhance their online casino experience.
Inspired Entertainment (NASDAQ: INSE) has signed a licensing agreement with the National Hockey League (NHL), granting rights to develop interactive, fixed odds Virtual Sports games featuring NHL assets. This addition completes Inspired's North American suite of premier sports licenses.
The agreement allows access to NHL brand assets, including the NHL logo, club jerseys, and names. Inspired will utilize advanced motion capture technology to create realistic and immersive gameplay. The official launch of NHL-integrated products is expected in Q4.
This expansion aligns with Inspired's mission to deliver innovative sports entertainment experiences, appealing to North American players and markets like Scandinavia and Eastern Europe. The collaboration aims to engage NHL fans through Virtual Sports, even during the offseason, potentially growing the NHL's global fan base.
Inspired Entertainment (NASDAQ: INSE) reported solid Q2 2024 results, with revenue of $75.6 million, up 40% year-over-year, driven primarily by Interactive segment performance. Net income was $2.0 million, and Adjusted EBITDA reached $25.5 million, a 69% increase year-over-year. The company highlighted:
1. Record-breaking Interactive segment performance
2. Extended partnership with William Hill, including 5,000 new Vantage® terminals
3. Launch of Hybrid Dealer™ with BetMGM in Michigan
4. Agreement with AGLC for 150 new Valor™ Terminals
5. Expansion of iGaming content with Fanatics and FanDuel
The company expects continued growth in Interactive and Virtual Sports segments, with a focus on expanding Hybrid Dealer offerings and rolling out new content.
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