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, Inc. (NASDAQ: INSE) has successfully closed a private offering of £235 million in senior secured notes due 2026, bearing an interest of 7.875% per annum. The funds raised will be utilized to repay existing loans totaling £145.8 million and €93.1 million, alongside related fees and general corporate purposes. Concurrently, a new £20 million super senior revolving credit facility has been established. The notes are guaranteed by Inspired and its subsidiaries and will pay interest semi-annually, starting December 1, 2021.
Inspired Entertainment has launched its remote gaming server platform in Michigan, with an initial set of interactive games now available. This move aligns with the company’s strategy to expand in North America, where it has seen rapid growth. Notably, Michigan reported $94.9 million in internet gaming receipts in April 2021. Inspired aims to leverage its extensive library of in-house developed games to capture market share as more states legalize iGaming.
Inspired Entertainment announced the pricing of its private offering of £235 million in 7.875% senior secured notes due 2026. This offering is set to close around May 20, 2021, and will be used to repay existing loans totaling £145.8 million and €93.1 million, along with covering associated fees and general corporate purposes. Additionally, a new £20 million Super Priority Senior Secured Revolving Credit Facility will be established. The issuance will target Qualified Institutional Buyers and will not be registered under the Securities Act.
Inspired Entertainment, Inc. (NASDAQ: INSE) announced a private offering of £235 million in senior secured notes due 2026. The offering aims to refinance existing liabilities, including a £145.8 million and €93.1 million term loan, alongside covering related fees. Proceeds will also fund general corporate purposes and close out derivative contracts. Inspired plans to establish a £20 million Super Priority Senior Secured Revolving Credit Facility as part of this refinancing initiative. The notes will be offered only to qualified institutional buyers, with no assurance of completion.
Inspired Entertainment reported first-quarter 2021 results, highlighting a total revenue of $22.8 million, despite a net loss of $16.7 million. The company saw a 90% year-over-year increase in aggregate online revenue, totaling $10.7 million. Adjusted EBITDA for the quarter reached $3.9 million, aided by $3.1 million from VAT-related income. The reopening of UK businesses is set for May 17, with full relaxation expected on June 21. Management anticipates third-quarter Adjusted EBITDA guidance of $28 million-$30 million, indicating a positive outlook post-COVID-19 closures.
Inspired Entertainment (NASDAQ: INSE) will report its financial results for the three months ended March 31, 2021, on May 10, 2021, before the market opens. A conference call will occur at 9:00 a.m. ET that day, providing insights into the company’s performance and trends. Investors can join via telephone or a live webcast available on its website. A replay will be accessible until May 17, 2021. Inspired operates globally, supplying gaming systems and content in around 35 jurisdictions.
Inspired Entertainment is set to broadcast the Virtual Grand National on April 9, 2021, predicting the outcome of the iconic steeplechase. This marks the fifth consecutive year Inspired has produced this event, which gained traction as live racing was halted due to COVID-19. In 2020, the virtual event attracted 4.8 million viewers and raised significant funds for NHS charities. The Virtual Grand National showcases Inspired's advanced technology in virtual sports, appealing to a global audience and offering new revenue streams for gaming operators.
Inspired Entertainment reported strong financial results for Q4 2020, with revenue of $71.7 million, a 8% increase year-over-year, and Adjusted EBITDA of $34.9 million, up 97%. October's revenue reached $21.2 million, nearly 20% above October 2019. Significant VAT-related income of $32.5 million contributed to these results. Despite challenges from COVID-19 closures, the company anticipates recovery and growth in 2021, supported by a strong liquidity position of $47.1 million in cash. The business has seen robust online growth, with nearly double the online revenue compared to last year.
Inspired Entertainment, Inc. (NASDAQ: INSE) will report its financial results for the fourth quarter and fiscal year ending December 31, 2020, on March 11, 2021. A conference call will be held on the same day at 9:00 a.m. ET to discuss these results and business trends. Additionally, Inspired is revising its segment reporting to align with its business structure, changing from three segments to four: Gaming, Virtual Sports, Interactive, and Leisure. The changes will not affect reported profits, and historical data will be provided for comparison.
Inspired Entertainment, Inc. (NASDAQ: INSE) has signed an exclusive agreement with The CAGE Companies to introduce its award-winning virtual sports offerings in the Caribbean. Starting in 2021, Inspired will deliver its V-Play Plug & Play™ product solution, which includes virtual cricket, to CAGE’s retail and online platforms. This agreement enables CAGE to sublicense the content to third-party operators, enhancing the gaming experience and revenue opportunities in the region. The partnership targets markets where CAGE holds licenses, aiming to launch operations in late Q1 or early Q2 2021.