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 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.
Inspired Entertainment (NASDAQ: INSE) has secured a major contract with Mecca Bingo, a leading UK bingo operator. The five-year agreement, valued at approximately $12.7 million, involves the installation of 170 new gaming machines across Mecca Bingo's UK estate. This deal includes a comprehensive servicing package to ensure optimal performance.
The partnership aims to enhance the gaming experience for Mecca Bingo's customers by introducing cutting-edge technology to bingo halls nationwide. Installation will begin immediately, with a phased rollout planned for seamless integration. This collaboration represents a significant milestone for both companies, reinforcing Mecca Bingo's commitment to innovation and excellence in the gaming sector.
Inspired Entertainment (NASDAQ: INSE) has joined Scientific Games' SG Content Hub Partner Program, expanding its reach in the global lottery industry. This partnership will make Inspired's Virtual Sports portfolio available to Scientific Games' iLottery customers worldwide.
Inspired's V-Lottery offering features 60-second virtual sports events with lifelike graphics, simulating real sports betting experiences. This format allows lottery players to enjoy new ways to play and win, complementing other iLottery offerings.
The collaboration is expected to benefit all stakeholders, particularly lottery partners supporting various good causes. Scientific Games is also partnered with Inspired on its sports betting aggregator for lottery customers globally.
Inspired Entertainment (NASDAQ: INSE) and BetMGM have expanded their partnership by launching the innovative Hybrid Dealer® game MGM Bonus City in Michigan. This follows its successful debut in New Jersey in October 2023. The game, exclusive to BetMGM Casino, combines virtual CGI, green screen technology, and live dealer footage to create an immersive Las Vegas-themed experience.
Players can spin a wheel with eight potential outcomes, including four bonus rounds based on iconic MGM properties. The game features a random multiplier to enhance winnings. BetMGM Casino, recognized as Casino Operator of the Year in 2023, offers over 2,800 titles across North American markets and boasts the largest iGaming progressive jackpot in North America, currently exceeding $5.2 million in New Jersey.
Inspired Entertainment (NASDAQ: INSE) has expanded its partnership with bet365 to deliver premium iGaming content in Pennsylvania. This marks Inspired's second North American market launch in two months, following its successful debut in New Jersey. The expansion allows bet365 to offer a diverse portfolio of online games to players in both states.
Brooks Pierce, President and CEO of Inspired, expressed excitement about the partnership's growth and confidence in driving growth for bet365's Pennsylvania customers. The collaboration strengthens Inspired's position as a leading gaming solutions provider in North America and demonstrates its commitment to delivering innovative content across the region.
Inspired Entertainment, Inc. (NASDAQ: INSE), a leading B2B provider of gaming content, technology, hardware, and services, has announced it will report its second quarter 2024 financial results on Thursday, August 8, 2024, before the market opens. The company will host a conference call and simultaneous webcast at 8:00 a.m. ET / 1:00 p.m. UK time to discuss the results and general business trends.
Investors can access the call via telephone at 1-800-715-9871 (US) or 1-646-307-1963 (International), or through a live audio-only webcast on the company's website. A replay of the webcast will be available on Inspired's website afterward. Inspired operates in approximately 35 jurisdictions worldwide, supplying gaming systems for about 50,000 gaming machines, virtual sports products in over 32,000 retail venues, digital games for 170+ websites, and amusement entertainment solutions with an installed base of more than 16,000 terminals.
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.
Inspired Entertainment (NASDAQ: INSE) has entered an agreement with Alberta Gaming, Liquor and Cannabis (AGLC) following a successful six-month trial. AGLC will purchase 150 new Valor® terminals, with deployment expected by the end of Q2 2024. Inspired CEO Brooks Pierce emphasized the partnership's importance and the company's commitment to expanding in Canadian markets, including Alberta, Ontario, and Saskatchewan. Inspired provides gaming content, technology, and hardware solutions to various operators worldwide, operating in about 35 jurisdictions with 50,000 gaming machines and 32,000 retail venues.
Inspired Entertainment, Inc. reported a first-quarter revenue of $63.1 million with a net loss of $(5.7) million. The company expanded its video lottery terminal placements, launched NBA Re-Play Virtual Sports product, and reported growth in the Interactive segment. The land-based business experienced lower service revenue in the UK and Greece. Adjusted EBITDA was $16.3 million, down 19% from the prior year.
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