INSPIRED SIGNS LONG-TERM EXCLUSIVE AGREEMENT WITH PADDY POWER SECURING ENTIRE UK BETTING SHOP ESTATE
Inspired Entertainment, Inc. (NASDAQ: INSE) has secured a new long-term contract with Paddy Power to provide fully integrated managed services for approximately 1,400 betting terminals across its UK estate. The contract will see Inspired supply Vantage™ server-based gaming cabinets in 2023, enhancing Paddy Power's product offering. Brooks Pierce, President of Inspired, highlighted the potential for revenue growth and reduced operational costs through this collaboration. The partnership reflects a shift towards a managed services model in the gaming industry.
- Secured a long-term contract with Paddy Power to manage 1,400 terminals.
- Procurement of 1,400 Vantage™ cabinets expected to enhance product offerings.
- Partnership likely to drive revenue growth and reduce operational costs.
- None.
Paddy Power to Procure Approximately 1,400 Vantage™ Cabinets in New Contract
NEW YORK, Dec. 12, 2022 /PRNewswire/ -- Inspired Entertainment, Inc. ("Inspired" or the "Company") (NASDAQ: INSE), a leading B2B provider of gaming content, technology, hardware and services, today announced a new exclusive long-term contract with Paddy Power, a UK-based bookmaker that owns and operates over 350 betting shops in the UK and is a central brand within Flutter Entertainment plc (LSE: FLTR), a global sports betting, gaming, and entertainment provider.
As part of this agreement, Inspired will exclusively provide Paddy Power with fully integrated managed services for its entire UK estate of approximately 1,400 terminals, including installation, remote and field technology support, as well as content and platform deployment.
Paddy Power has further committed to the procurement of ~1,400 new Vantage™ server based gaming ready cabinets throughout 2023. The latest addition to the Inspired VLT family, Vantage is powered by an intelligent operating system featuring a modern and intuitive next-generation menu with functionality that drives player game recommendations based on playing sessions.
"Paddy Power does an exceptional job operating its UK betting shop estate, which tends to contain premium locations, and we are thrilled to partner with such a premier provider," said Brooks Pierce, President and Chief Operating Officer of Inspired. "We have a great relationship with Paddy Power and this agreement, including the provision of our new Vantage terminal, improves their product offering and drives revenue growth, while also reducing operational costs. This is a prime example of how the transformation of our footprint in the UK from a hardware-centric capital-intensive business model to a managed services, content and platform, asset-light model can be mutually beneficial for the evolution of the industry."
"We have an excellent partnership with Inspired which has developed over many years," said Vince Bateson, Head of Retail Gaming for Paddy Power. "Our customers know and trust Inspired's product and we're delighted to be able to enhance our offering with the very latest terminal and the very best technology. Inspired's Vantage terminal has performed exceptionally well in our trials and is a perfect fit with our strategic goal of providing our customers with the best possible experience in our retail shops."
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.
About Flutter Entertainment plc:
Flutter Entertainment plc (the "Group") is a global sports-betting and gaming company reporting as four divisions:
- UK & Ireland: includes the Sky Betting and Gaming, Paddy Power, Betfair and Tombola brands offering a diverse range of sportsbook, exchange and gaming services across the UK and Ireland, along with over 600 Paddy Power betting shops.
- Australia: the Sportsbet brand offers online sport betting and is the Australian market leader.
- International: includes PokerStars, Sisal, Adjarabet, Betfair and Junglee operating in multiple jurisdictions around the world offering a diverse range of sportsbook, exchange and gaming services.
- US: includes FanDuel, TVG, Stardust, FOX Bet and PokerStars brands, offering regulated real money and free-to-play sports betting, online gaming, daily fantasy sports and online racing wagering products to customers across various states in the US and Canada.
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
For Press and Sales
inspiredsales@inseinc.com
www.inseinc.com
@Inspired_News
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SOURCE Inspired Entertainment, Inc.
