Inspired and The CAGE Companies Announce Exclusive Virtual Sports Agreement Across the Caribbean

Rhea-AI Summary

Inspired Entertainment, Inc. (NASDAQ: INSE) has signed an exclusive agreement with The CAGE Companies to introduce its award-winning virtual sports offerings in the Caribbean. Starting in 2021, Inspired will deliver its V-Play Plug & Play™ product solution, which includes virtual cricket, to CAGE’s retail and online platforms. This agreement enables CAGE to sublicense the content to third-party operators, enhancing the gaming experience and revenue opportunities in the region. The partnership targets markets where CAGE holds licenses, aiming to launch operations in late Q1 or early Q2 2021.

Positive

• Exclusive agreement with CAGE Companies enhances market reach in the Caribbean.
• Introduction of virtual cricket targets popular regional interest, boosting engagement.
• Possibility for CAGE to sublicense products expands potential revenue streams.

Negative

• None.

NEW YORK and BETHESDA, Md., Feb. 16, 2021 /PRNewswire/ -- Inspired Entertainment, Inc. ("Inspired") (NASDAQ: INSE) announced today it has entered into an exclusive agreement with The CAGE Companies (An RLJ Companies Majority Owned Company) and its subsidiary, CAGE Sports BV, to offer Inspired's multi-award winning virtual sports in CAGE's retail outlets and interactive channels throughout the Caribbean. CAGE is a prominent video lottery and video gaming terminal operator in the Caribbean and South America. 

Inspired will provide its V-Play Plug & Play™ ("VPP") online and mobile product solution to CAGE's interactive channels through online platforms and its best-in-class virtual sports to retail venues throughout the Caribbean starting in 2021. VPP includes multiple custom sports variants for CAGE customers, including virtual cricket, which Inspired will be introducing for the first time as part of its VPP solution given the popularity of cricket in the Caribbean. 

"The CAGE Companies have established themselves as the Caribbean's premier gaming route operator and Robert L. Johnson is a true visionary. We are looking forward to working with them and extending our partnership to deploy our leading content into the market," said Brooks Pierce, President and Chief Operating Officer of Inspired. "Our virtuals have proven popular in Europe, Asia, Africa and North America and we see the Caribbean as an opportunity to showcase the strength of our overall offerings."

CAGE and its affiliates can also sublicense the products to third-party operators in the Caribbean.

"We are thrilled to be able to offer Inspired's leading virtual sports to our customer base in the Caribbean, providing an engaging betting experience and further complementing our sports betting business," said Robert L. Johnson, Founder of The RLJ Companies and Co-Founder and Majority Owner of the CAGE Companies. "With Inspired's virtuals, and cricket in particular, our customers' favorite sports seasons don't have to end and our retailers can enjoy the financial benefits of the extended season."

"We look forward to starting up our virtual sports operations in a number of Caribbean countries where CAGE Sports has existing licenses or management agreements during the late first quarter/early second quarter 2021," said Robert B. Washington, Co-Founder, Chairman and CEO of the CAGE Companies.   "We are also excited about partnering with Inspired in creating new 'Caribbean Legends of Cricket' virtual sports games which we believe will create customer excitement in the Caribbean community and beyond," stated Robert B. Washington. 

Inspired's pioneering virtual sports are popular worldwide, appealing to a wide variety of players through more than 40,000 retail channels and 100+ websites in 35 countries.  Trailers and demos of the latest virtual sports offerings are available at www.inseinc.com/virtuals/.

About Inspired Entertainment, Inc.

Inspired offers an expanding portfolio of content, technology, hardware and services for regulated gaming, betting, lottery, social and leisure operators across retail and mobile channels around the world. The Company's gaming, virtual sports, interactive and leisure products appeal to a wide variety of players, creating new opportunities for operators to grow their revenue. The Company operates in approximately 35 jurisdictions worldwide, supplying gaming systems with associated terminals and content for more than 50,000 gaming machines located in betting shops, pubs, gaming halls and other route operations; virtual sports products through more than 44,000 retail channels; digital games for 100+ websites; and a variety of amusement entertainment solutions with a total installed base of more than 19,000 devices. Additional information can be found at www.inseinc.com.

Forward Looking Statements

This news release may contain "forward-looking statements" within the meaning of the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "anticipate," "believe," "expect," "estimate," "plan," "will," "would" and "project" and other similar expressions that indicate future events or trends or are not statements of historical matters. These statements are based on Inspired's management's current expectations and beliefs, as well as a number of assumptions concerning future events.

Forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside of Inspired's control and all of which could cause actual results to differ materially from the results discussed in the forward-looking statements. Accordingly, forward-looking statements should not be relied upon as representing Inspired's views as of any subsequent date, and Inspired does not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as required by law. You are advised to review carefully the "Risk Factors" section of Inspired's annual report on Form 10-K for the fiscal year ended December 31, 2019 and in Inspired's subsequent quarterly reports on Form 10-Q, which are available, free of charge, on the U.S. Securities and Exchange Commission's website at www.sec.gov.

Contact:

For Investors
Aimee Remey
aimee.remey@inseinc.com
+1 646 565-6938

For Press and Sales
inspiredsales@inseinc.com

About The RLJ Companies

The RLJ Companies, founded by Robert L. Johnson, is an innovative business network that provides strategic investments in a diverse portfolio of companies. Within The RLJ Companies portfolio, Johnson owns or holds interests in businesses operating in a publicly traded hotel real estate investment trust; private equity; 401k fintech services; automobile dealerships; content streaming; gaming and sports betting. The RLJ Companies is headquartered in Bethesda, MD with affiliate operations in Charlotte, NC, Little Rock, AR and San Juan, PR.  Prior to founding The RLJ Companies, Johnson founded and was chairman of Black Entertainment Television (BET).
For more information visit: www.RLJcompanies.com.
For media inquiries, contact: Michelle Curtis at press@RLJcompanies.com or 301-280-7701

About the "CAGE Companies"

CAGE Companies are focused on the installation, operation and management of video lottery and video gaming terminals, linked gaming systems and game content including Sports Betting and Virtual Sports games throughout the Caribbean and South America.  The CAGE Companies were co-founded by Robert L. Johnson and Robert B. Washington in 2004 for the purpose of bringing superior Video Lottery Terminals ("VLTs") and Video Gaming Machines ("VGMs"), central computer systems and exciting, new downloadable game content to targeted South America and Caribbean countries with the goal of enhancing local economies and creating local entrepreneurial and employment opportunities.  CAGE has deployed over 3,000 VLTs and VGMs into its existing markets.  The CAGE Companies is headquartered in St. Thomas, US Virgin Islands and in Cyprus with offices and/or operations in Antigua and Barbuda, Barbados, Bermuda, Guyana, the Dominican Republic, St. Kitts and Nevis, St Lucia, Sint Maarten and Puerto Rico.

For more information visit: www.caribbeancage.com 
For media inquiries, contact: Janet Davila-Washington, jdavila@caribbeancage.com or (340) 777-9023 or (787) 758-8650

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SOURCE Inspired Entertainment, Inc.

FAQ

What recent partnership has Inspired Entertainment entered into regarding virtual sports?

Inspired Entertainment has partnered with The CAGE Companies to offer its virtual sports in the Caribbean.

When is Inspired Entertainment planning to launch its virtual sports operations in the Caribbean?

The operations are expected to start in late Q1 or early Q2 of 2021.

What products will Inspired Entertainment provide under the new agreement with CAGE?

Inspired will provide its V-Play Plug & Play™ product solution, including virtual cricket.

What is the significance of Inspired's partnership with CAGE Companies?

The partnership allows Inspired to expand its presence in the Caribbean gaming market and leverage CAGE's established network.