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 reported Q2 2020 revenue of $15.6 million, a 41.6% decline year-over-year, with adjusted EBITDA at $2.1 million, down 76.4%. Despite COVID-19 closures, online revenue doubled, reaching $4.9 million growth on a pro forma basis. As of August 1, 90% of gaming machines were operational, and July saw 82% online revenue growth year-over-year. Cash reserves stood at $40 million following a covenant amendment with lenders. Management expressed confidence in recovery with improved retail performance and online growth.
Inspired Entertainment announced its first Valor™ video lottery terminal (VLT) placement in Canada, delivering 100 premium cabinets to the Western Canada Lottery Corporation (WCLC) for the Saskatchewan market in early 2021. This selection follows a Request for Quotation process, with Inspired providing unique game themes and integration with a progressive jackpot. Brooks Pierce, COO, expressed enthusiasm for the Canadian market, while WCLC's Eric Karmark highlighted the innovative design and game appeal of the Valor™ cabinet. This move expands Inspired's reach, leveraging its experience from successful deployments in the U.S.
Inspired Entertainment (NASDAQ: INSE) will report its Q2 2020 financial results on August 13, 2020, before market opens. A conference call will follow at 9:00 a.m. ET to discuss results and business trends. Investors can access the call at 1-844-746-0725 (US) or 1-412-317-5264 (International). A replay will be available until August 20, 2020. Inspired operates in around 35 jurisdictions, with over 50,000 gaming machines and 44,000 retail channels for its products, showcasing its global presence in the gaming industry.