Inspired Entertainment, Inc. - INSE STOCK NEWS

Inspired Entertainment has announced a strategic partnership transformation with Cristaltec to enhance their collaboration in Italy's gaming sector. Under this agreement, Cristaltec will acquire Inspired's video lottery terminal (VLT) estate and manage VLT contracts, while Inspired will focus on providing platform support and game content. The partnership aims to leverage Cristaltec's expertise in the AWP market and improve service offerings, ultimately driving revenue growth and operational efficiencies for both companies in the evolving Italian gaming landscape.

Inspired Entertainment has signed a multi-market contract with Novibet, launching its Virtual Sports content in Europe, starting in Greece. Players can access these offerings through Novibet's dedicated section on novibet.gr. The content includes popular sports like soccer, basketball, and horse racing, with an exclusive Greek Matchday Soccer League featuring 16 teams. Inspired's Virtual Sports solutions are already popular across 35 countries. This partnership aims to enhance Novibet's online gaming experience and expand Inspired's market reach.

Inspired Entertainment reported strong third quarter results for 2021, showcasing a 29% year-over-year revenue growth to $77.6 million. The company achieved a quarterly record net income of $25 million, up from $0.5 million in the previous year. Adjusted EBITDA rose 20.4% to $30.1 million, reflecting robust performance across Interactive and Virtual Sports segments. The Interactive segment saw a 73.4% revenue increase, while the Leisure segment doubled its revenue. Operating cash flow was an impressive $19.8 million, enhancing liquidity to $37.1 million.

Inspired Entertainment will announce its financial results for the third quarter ending September 30, 2021, on November 11, 2021, before markets open. Management will conduct a conference call at 9:00 a.m. ET to discuss these results. Interested parties can join the call by dialing 1-844-746-0725 in the U.S. or 1-412-317-5264 internationally, or they can access the live webcast through the company's website. Phone replays will be available until November 18, 2021.

Inspired Entertainment has entered a contract with Mozzart to launch its Virtual Sports content, including soccer, basketball, and football. The Virtual Plug & Play™ solution will allow players in Serbia to access these games through a direct wallet integration. Mozzart will utilize Inspired as its primary Virtual Sports provider across all brands and territories. The multi-award-winning virtual sports are accessible via over 40,000 retail channels and 100+ websites globally.

Inspired Entertainment, Inc. (NASDAQ: INSE) has secured a multi-year exclusive contract with the Major League Baseball Players Alumni Association (MLBPAA) to utilize the name, brand, and likeness of MLBPAA members globally. This partnership will enhance Inspired's virtual sports offerings, particularly through the 'Home Run Shoot Out™,' featuring baseball legends. The game aims to engage fans with competitive experiences, incorporating betting opportunities. With over 8,600 MLBPAA members, this collaboration positions Inspired to leverage its technology to boost brand visibility and connect with fans.

Inspired Entertainment has enhanced its partnership with Loto-Québec, becoming the first customer to launch its iLottery games. This expansion allows for the integration of Inspired’s digital lottery games into Loto-Québec’s online platform and app, facilitating online gameplay for Quebec residents. Two new games, Scarab Treasures and Fruit Drop Scatterdrops, are set to debut in 2022. Inspired's entry into the iLottery market represents a strategic growth opportunity in a global lottery market valued at over $300 billion.

Inspired reported a significant revenue increase of 166.4% year-over-year, reaching $41.5 million in the second quarter of 2021, despite a net loss of $43.8 million. The company also achieved an impressive 289.3% growth in Adjusted EBITDA, totaling $8.0 million. The Interactive segment thrived, with revenue up 69.0% year-over-year, largely due to new customers and content launches. The company refinanced its debt, securing £235 million in senior notes, which improved its financial flexibility. Management affirms a third-quarter Adjusted EBITDA guidance of $28 million to $30 million.

Inspired Entertainment (NASDAQ: INSE) will report its financial results for the three months ending June 30, 2021, on August 12, 2021, before the market opens. A conference call and webcast to discuss the results will be held at 8:00 a.m. ET the same day. Investors can join the call by dialing 1-844-746-0725 (US) or 1-412-317-5264 (International). A replay of the call will be available until August 19, 2021.

Inspired operates in approximately 35 jurisdictions, providing gaming systems for around 50,000 machines, virtual sports products at over 32,000 venues, and interactive games for more than 170 websites.