Welcome to our dedicated page for Inspired Entmt news (Ticker: INSE), a resource for investors and traders seeking the latest updates and insights on Inspired Entmt stock.
Inspired Entertainment, Inc. reports developments as a B2B provider of gaming content, technology, hardware and services for licensed online and land-based lottery, betting and gaming operators. Its recurring news themes include quarterly results, Interactive revenue trends, Virtual Sports distribution, retail gaming terminals, and the portfolio mix across Gaming, Virtual Sports, Interactive and Leisure.
Company updates also cover long-term operator agreements, launches of iGaming content in regulated markets, supplier registrations, SaaS distribution relationships and capital actions such as debt repayment and common-stock repurchases. News has also documented the completed sale of the UK holiday parks business and certain associated leisure assets as part of Inspired's portfolio optimization.
Inspired Entertainment has secured a five-year contract with Betfred Group to provide exclusive managed services for over 5,500 betting terminals. This partnership marks a significant milestone as it secures Inspired's largest UK betting shop customer until 2028. Betfred has also committed to purchasing 5,000 Vantage™ cabinets throughout 2023, enhancing player experience with integrated technology and content. The collaboration highlights the long-standing relationship between the two companies, aiming to deliver superior gaming solutions to Betfred's customers.
Inspired Entertainment reported third-quarter 2022 results showing total revenue of $74.9 million, down 3% from $77.6 million in 2021, but up 13% on a functional currency basis. Net income fell to $10.2 million or $0.39 per basic share. Notable growth was seen in Virtual Sports revenue, which grew 39% year-over-year to $14.6 million, with adjusted EBITDA contributing 50% from online operations. The company faces cost pressures in its Leisure segment but signed significant contracts with Betfred and others post-quarter.
Inspired Entertainment, Inc. (NASDAQ: INSE) will release its unaudited financial results for Q3 2022 on November 9, 2022, before market opening. A conference call is scheduled for the same day at 8:30 a.m. ET to discuss the results and business trends. Investors can join via telephone at 1-888-550-5864 (US) or 1-646-960-0275 (International), or listen to the live webcast on the company's website. The replay will also be available online. Inspired operates in 35 jurisdictions globally, providing a broad range of gaming, betting, and interactive products.
Inspired Entertainment showcased its innovative virtual sports content and top-performing iGaming titles at the Global Gaming Expo (G2E) 2022 in Las Vegas from October 10-13. Notable highlights included the launch of the Home Run Shootout Legends™ and NFLA Legends Football™ games, featuring iconic athletes. The company aims to enhance the sports wagering market with officially licensed products and continues to see success in North American markets like Pennsylvania and New Jersey. Inspired's commitment to customer-driven innovation is central to its strategy, aiming to drive growth for operators in regulated markets.
Inspired Entertainment, Inc. (NASDAQ: INSE) addressed recent market speculation regarding a potential transaction with PlayAGS, Inc. The company stated it does not comment on market rumors or speculation as a matter of policy. Inspired Entertainment offers an extensive portfolio of gaming content and technology, operating in approximately 35 jurisdictions and supplying around 50,000 gaming machines. The company provides diverse gaming products, including virtual sports and interactive games, creating growth opportunities for operators.
Inspired reported a 72% increase in revenue, reaching $71.3 million for Q2 2022, up from $41.5 million the previous year. Virtual Sports revenue hit a record $14.0 million, a 71% increase year-over-year. Net income surged to $7.5 million from a loss of $43.8 million, with an Adjusted EBITDA rise of 227% to $26.1 million. A strategic partnership with William Hill was secured. Inspired completed a share repurchase of 734,349 shares for $7.1 million. Despite currency impacts, the company's performance reflects resilience against macroeconomic challenges.
Inspired Entertainment announced its second-quarter unaudited financial results will be released on August 9, 2022, after market close. A conference call will follow on August 10, 2022, at 9:30 a.m. ET to discuss results and business trends. Interested participants can join the call by dialing 1-888-550-5864 for US callers or 1-646-960-0275 for international callers. A live webcast will be accessible through the Company’s website, with a replay available afterwards. Inspired provides content and technology for regulated gaming and operates in approximately 35 jurisdictions globally.
Moody's Investors Services upgraded Inspired Entertainment, Inc. (NASDAQ: INSE) from a B3 to a B2 rating with a positive outlook. This change reflects expectations of growth driven by quality content and increased online penetration over the next 12-18 months. Inspired has reported a revenue rebound since easing COVID restrictions, particularly in the UK. The upgrade also includes a boost to the company's senior secured global notes rating and a change in its probability of default rating, both to B2 with a positive outlook.
On June 8, 2022, Inspired Entertainment (NASDAQ: INSE) announced the launch of its first iLottery game, Pharaon Réaction™, developed specifically for Loto-Québec. This game is now available on Loto-Québec's online platform, enhancing Inspired's portfolio of iGaming content. Brooks Pierce, President and COO at Inspired, expressed excitement about entering the iLottery market, emphasizing its growth potential. Loto-Québec's Director of Lottery Products, Anne-Marie Voyer, praised Inspired's innovation in integrating retail brands into digital lottery offerings.
Inspired Entertainment has obtained an Interactive Gaming Manufacturer License in Pennsylvania as part of its North American expansion. This license enables the company to offer its interactive games to online operators in the state. The launch of its gaming content is anticipated for summer 2022, featuring multiple game titles. Brooks Pierce, President and COO, expressed enthusiasm for entering one of North America's largest iGaming markets, highlighting existing relationships with licensed operators to facilitate a swift market entry.