Inspired Announces Partnership with Kambi to Provide Virtual Sports Offering to the Kambi Sportsbook
- None.
- None.
The agreement between Inspired Entertainment, Inc. and Kambi Group plc marks a significant strategic alliance in the gaming and sports betting industry. By integrating Inspired's Virtual Sports products into Kambi's sportsbook platform, Kambi's partners are poised to benefit from a broader array of betting content, potentially driving user engagement and increasing revenue streams. From a market research perspective, this integration leverages the growing popularity of virtual sports betting, which has seen a substantial uptick in regions like North America.
Virtual sports provide a consistent and controlled betting environment, which can be particularly attractive during off-seasons or when live sports events are unavailable. This partnership could position Kambi to capitalize on this market segment, offering a competitive edge. For stakeholders, including investors and operators, the collaboration signals a proactive approach to diversifying offerings and could forecast positive financial growth, assuming the adoption and implementation are successful.
From a financial analysis standpoint, the exclusivity of the agreement with Inspired as Kambi's Virtual Sports provider could have material implications. The rigorous procurement process undertaken by Kambi suggests a strategic investment in quality and differentiation in the market. This move may be interpreted as a long-term play to enhance Kambi's product suite and drive market share in the virtual sports domain.
For investors, the key metrics to monitor would include the uptake rate of Inspired's Virtual Sports among Kambi's partners and the subsequent impact on Kambi's revenue. Additionally, the operational costs associated with the integration and potential cannibalization of existing products will be critical factors in evaluating the financial success of this partnership.
On the legal and regulatory front, the collaboration between Inspired and Kambi must navigate the complex landscape of gaming laws, which vary significantly across jurisdictions. The ability to offer virtual sports betting products hinges on adherence to these regulations. Ensuring compliance will be crucial for the successful rollout of Inspired's Virtual Sports on the Kambi platform.
Furthermore, the exclusivity aspect of the deal may attract regulatory scrutiny, particularly in jurisdictions with strict anti-competitive statutes. Both companies will need to manage these legal considerations effectively to avoid potential litigation or regulatory penalties that could undermine the partnership's financial benefits.
NEW YORK, Feb. 07, 2024 (GLOBE NEWSWIRE) -- Inspired Entertainment, Inc. (“Inspired” or the “Company”) (NASDAQ: INSE), a leading B2B provider of gaming content, technology, hardware and services, and Kambi Group plc (“Kambi”) (FN Stockholm: KAMBI), the world's trusted sports betting partner, announced today that they have signed an agreement to integrate Inspired Virtual Sports products into the Kambi sportsbook platform. This integration will allow Kambi’s partners to leverage Inspired’s Virtual Sports line-up. Kambi undertook a rigorous competitive procurement process before ultimately selecting Inspired as its exclusive Virtuals Sports provider.
“We are thrilled to integrate Kambi’s first-class sports betting technology with our best-in-class Virtual Sports games,” said Brooks Pierce, Inspired President, and Chief Executive Officer. “We are confident this partnership will enhance Kambi’s leading sportsbook services, allowing them to provide a dynamic new revenue stream for operators that is easily integrated into the Kambi network.”
“Kambi Group is excited to join forces with Inspired to bring their award-winning Virtual Sports products to the Kambi sportsbook platform,” said Jamie Mckittrick, SVP of Commercial Operations at Kambi. “This partnership illustrates the openness of the Kambi platform and elevates our cutting-edge sportsbook offering with the very best Virtual Sports technology.”
Inspired's multi award-winning Virtual Sports are popular worldwide, appealing to a wide variety of players through more than 40,000 retail channels and 100+ websites in 35 countries. Inspired has the largest and most diverse content portfolio currently available, including the most popular sport for every market. Over the last five years, Inspired's Virtual Sports have seen big growth in North America with the introduction of basketball, football, the first-ever women's soccer game, and baseball.
To find out more about Inspired’s Virtuals, visit: https://inseinc.com/virtuals/
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 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 Kambi Group plc
Kambi is a provider of premium sports betting services to licensed B2C gaming operators. Our services encompass a broad offering from front-end user interface through to odds compiling, customer intelligence and risk management, built on an in-house developed software platform. Kambi’s 40-plus customers include ATG, Bally’s Corporation, Corredor Empresarial, Kindred Group, LeoVegas, LiveScore, Rush Street Interactive and Svenska Spel. Kambi employs more than 1,000 staff across offices in Malta (headquarters), Australia, Denmark, Philippines, Romania, Sweden, the UK and the United States. Kambi utilises a best of breed security approach and is ISO 27001 and eCOGRA certified. Kambi Group plc is listed on Nasdaq First North Growth Market under the symbol "KAMBI". The Company's Certified Advisor is Redeye AB.
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, 2022, and in 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
+1 646 277 1285
FAQ
What companies are involved in the partnership for integrating Virtual Sports products into the Kambi sportsbook platform?
What is the ticker symbol for Inspired Entertainment, Inc.?
What type of products will be integrated into the Kambi sportsbook platform?
How many retail channels and websites do Inspired's Virtual Sports products appeal to?
In how many countries are Inspired's Virtual Sports products available?
What are some of the popular sports included in Inspired's Virtual Sports portfolio?
Who is the President and CEO of Inspired Entertainment, Inc.?
Who is the SVP of Commercial Operations at Kambi Group plc?
