INSPIRED ANNOUNCES CREDIT RATING UPGRADE FROM MOODY'S

Rhea-AI Summary

Moody's Investors Services upgraded Inspired Entertainment, Inc. (NASDAQ: INSE) from a B3 to a B2 rating with a positive outlook. This change reflects expectations of growth driven by quality content and increased online penetration over the next 12-18 months. Inspired has reported a revenue rebound since easing COVID restrictions, particularly in the UK. The upgrade also includes a boost to the company's senior secured global notes rating and a change in its probability of default rating, both to B2 with a positive outlook.

Positive

• Corporate rating upgraded from B3 to B2 by Moody's.
• Positive outlook reflects expected growth from quality content and online products.
• Revenue rebound noted since COVID restrictions were lifted.

Negative

• None.

Moody's Upgrades Rating to B2 with a Positive Outlook from B3 with a Stable Outlook

NEW YORK, July 14, 2022 /PRNewswire/ -- Inspired Entertainment, Inc. ("Inspired" or the "Company") (NASDAQ: INSE), a leading B2B provider of gaming content, systems and solutions, announced today that Moody's Investors Services ("Moody's") has upgraded Inspired's corporate rating to B2 with a positive outlook from a previous rating of B3 with a stable outlook.

According to the report from Moody's, its positive rating outlook reflects Moody's view that, in the next 12-18 months, Inspired's quality content and the increasing penetration of its online products will continue to attract players and gamblers, driving top-line growth and its leverage will rapidly trend downwards.

"Inspired has experienced a strong rebound in revenues since the lifting of Covid restrictions related to betting shops especially in the UK. Despite the trends towards online gaming and betting, the Company's gaming machines remain an appealing form of entertainment. Additionally, the Company's good growth in its online offering demonstrate Inspired's ability to generate high quality content, which is a key differentiator for the company," according to Moody's.

In addition to upgrading the Company's corporate rating, Moody's upgraded Inspired's senior secured global notes rating to B2 from B3 and upgraded the company's probability of default rating to B2-PD from B3-PD. The outlook for both of these has also changed from stable to positive.

About Inspired Entertainment, Inc. (Nasdaq: INSE)

Inspired offers an expanding portfolio of content, technology, hardware and services for regulated gaming, betting, lottery, social and leisure operators across land-based and mobile channels around the world. Inspired's gaming, virtual sports, interactive and leisure products appeal to a wide variety of players, creating new opportunities for operators to grow their revenue. Inspired operates in approximately 35 jurisdictions worldwide, supplying gaming systems with associated terminals and content for approximately 50,000 gaming machines located in betting shops, pubs, gaming halls and other route operations; virtual sports products through more than 32,000 retail venues and various online websites; digital games for 170+ websites; and a variety of amusement entertainment solutions with a total installed base of more than 16,000 terminals.  Additional information can be found at www.inseinc.com. 

Forward-Looking Statements
This news release contains "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, 2021, and 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 and on Inspired's website at www.inseinc.com.

Contacts:

Investor Relations
IR@inseinc.com
+1 646 565-6938

 

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SOURCE Inspired Entertainment, Inc.

FAQ

What was the recent rating upgrade for INSE by Moody's?

Moody's upgraded Inspired Entertainment's corporate rating from B3 to B2 with a positive outlook.

Why did Moody's upgrade Inspired Entertainment's rating?

The upgrade was based on expected growth from quality content and increased penetration of online products.

When was Inspired Entertainment's rating upgraded by Moody's?

The rating upgrade was announced on July 14, 2022.

What does a positive outlook mean for Inspired Entertainment's future?

A positive outlook suggests that Inspired is expected to perform well, with growth in its business predicted over the next 12-18 months.

What impact has COVID restrictions had on Inspired Entertainment's revenue?

Inspired Entertainment has experienced a strong rebound in revenues since COVID restrictions related to betting shops were lifted.