Inspired Entertainment and William Hill Extend Long-Term Partnership
Inspired Entertainment (NASDAQ: INSE) has announced a six-year extension of its partnership with William Hill, a major sports betting and gaming brand in the UK, encompassing about 1,300 betting shops. Inspired will continue as the exclusive provider of managed services for all William Hill's UK gaming terminals.
The agreement includes the lease of 5,000 new Vantage® terminals, enhancing William Hill’s betting offices. Deployment is scheduled for Q4 2024, with completion by Q1 2025. This extension builds on a 20-year relationship and aims to boost William Hill's gaming experience and results, leveraging Inspired's proven track record of double-digit growth with Vantage cabinets in the UK market.
Both companies emphasize their commitment to product innovation, customer satisfaction, and long-term growth.
- Six-year extension of a long-term partnership with William Hill.
- William Hill commits to leasing 5,000 Vantage® terminals.
- Partnership covers approximately 1,300 UK betting shops.
- Deployment of new terminals starts Q4 2024, completion by Q1 2025.
- Inspired's Vantage cabinets have shown consistent double-digit growth.
- Potential for enhanced gaming experience for William Hill customers.
- No significant negative aspects mentioned.
Insights
The extension of the partnership between Inspired Entertainment and William Hill marks a significant development in the gaming industry. From a financial perspective, this agreement ensures steady revenue streams for Inspired for at least the next six years. Leasing 5,000 new Vantage® terminals represents a substantial capital investment, likely worth several
Investors should note that consistent double-digit growth mentioned by Inspired's CEO indicates a strong historical performance and potential for future returns. However, the success of this venture heavily relies on the effective deployment and reception of these new terminals in William Hill's UK locations. Any delays or technical issues could impact short-term financial performance.
Moreover, the strategic importance of maintaining a long-term partnership with a key player like William Hill cannot be understated. It solidifies Inspired's market position and provides a reliable revenue base, which is important for long-term stability and growth.
From a market perspective, this deal strengthens Inspired's footprint in the UK betting market. The decision to deploy 5,000 Vantage® terminals across William Hill's 1,300 betting shops demonstrates a commitment to modernizing and enhancing the customer experience in these locations. For William Hill, this move could be seen as a response to evolving consumer preferences towards more interactive and technologically advanced gaming solutions.
The market's response to these new terminals will be pivotal. If they enhance user engagement and increase foot traffic, it could set a precedent for other betting shops to follow suit, potentially leading to further market expansion for Inspired. However, market saturation and competition from emerging technologies or new market entrants could pose risks.
Investors should consider market trends and consumer behavior in the gaming and betting industry. The successful deployment and positive reception of these terminals could lead to increased market share and competitive advantage for both companies involved.
The Vantage® terminals represent the latest evolution in gaming technology, offering cutting-edge features aimed at enhancing the player experience. As gaming technology advances, the integration of these new terminals is expected to provide a more engaging and seamless gaming experience for users, which is critical in a highly competitive market.
The deployment process, beginning in Q4 2024 and completing by Q1 2025, will be a important period for both companies. Ensuring that these terminals operate efficiently and without major issues will be key to maintaining customer satisfaction and operational stability.
Additionally, the focus on remote and field technology support underscores the importance of maintaining high uptime and reliability for these machines. This aspect is vital in the gaming industry, where any downtime can result in significant revenue loss and customer dissatisfaction.
Investors should watch closely how well these new terminals integrate with existing infrastructure and user acceptance of the new technology, as these factors will be significant determinants of the partnership's success.
William Hill to Supply 5,000 Vantage® Cabinets in UK LBO locations
NEW YORK, June 20, 2024 (GLOBE NEWSWIRE) -- Inspired Entertainment, Inc. (NASDAQ: INSE) (“Inspired” or the “Company”), a leading B2B provider of gaming content, technology, hardware and services, today announced that it entered a six-year extension of its long-term partnership agreement with William Hill, the iconic sports betting and gaming brand operating approximately 1,300 betting shops in the United Kingdom. William Hill is a principal brand within evoke plc (LSE: EVOK), a global betting and gaming company.
Under the agreement, Inspired will continue to be the exclusive provider of fully integrated managed services for William Hill’s entire UK estate of gaming terminals. Services include installation and remote and field technology support as well as content and platform deployment.
William Hill has committed to lease 5,000 new Vantage® terminals, a move intended to significantly enhance their licensed betting offices and drive growth. Deployment of the new terminals will begin during the fourth quarter of 2024 with expected completion in the first quarter of 2025.
“The extension of our partnership with William Hill adds to a more than 20 years long relationship and strong strategic partnership for Inspired across Gaming, Interactive and Virtual Sports business lines,” said Brooks Pierce, President and Chief Executive Officer of Inspired. “Based on our experience with the Vantage cabinet in the UK market and the consistent double-digit growth we’ve observed, the upgraded terminals should empower William Hill to bring their players an enhanced gaming experience, ultimately boosting their results.”
“After a full review of product and performance across both our estate and the UK retail market for gaming machines, we are pleased to launch a new era for William Hill & Inspired with this agreement. We are aligned in our focus on quality, performance and growth in the next stage of our long-standing partnership with Inspired. I am excited about our shared commitment to product and content innovation, customer satisfaction, omni channel delivery and creating long-term value together,” said Mark Kemp, Group Chief Commercial Officer of evoke plc.
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 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; interactive 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 press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding our ability to bring certain of our products to customers in the various markets in which we operate and execute on our strategic plan, statements regarding expectations with respect to potential new customers and statements regarding our anticipated financial performance. Forward-looking statements may be identified by the use of words such as “anticipate,” “believe,” “continue,” “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 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. 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, 2023, 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. 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.
Contact:
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IR@inseinc.com
+1 646 277-1285
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