Latest News
Inspired Reports First Quarter 2019 Results
Reading Time: 7 minutes
- Total Revenue for the First Quarter of $33.7 Million
- Functional Currency1 Virtual Sports Revenue Increased 11.0% Year-over-Year
- Net Operating Loss Narrows to $0.7 Million from $0.9 Million in the Prior Year
- Functional Currency Adjusted EBITDA Growth of 18.5% Year-over-Year
- Adjusted EBITDA2 Increased to $13.7 Million from $12.4 Million in the Prior Year
- Adjusted EBITDA Margin3 Increased to 40.7% from 36.6% in the Prior Year
- Cash Generation of $3.0 Million During the Quarter
- North American Video Lottery Terminal (“VLT”) Business Expected to Commence Shipments in the Fourth Quarter 2019
Inspired Entertainment, Inc. reported financial results for the three-month period ended March 31, 2019.
Total Revenue for the three months ended March 31, 2019 was $33.7 million, a year-over-year decrease of $3.8 million, on a reported basis, driven mainly by adverse currency movements of $2.5 million, as well as a reduction in non-recurring software licenses and nil margin sales of hardware. Excluding these sales (software licenses of $1.3 million and nil margin hardware of $3.6 million), revenue increased $3.6 million, or 11.0%, on a functional currency (£) basis, and $1.1 million, or 3.3%, on a reported basis.
Adjusted EBITDA for the three months ended March 31, 2019 was $13.7 million, a year-over-year increase of 18.5% on a functional currency basis and 10.4% on a reported basis. Adjusted EBITDA margin increased to 40.7% from 36.6% in the prior year, primarily as a result of significant overhead savings, more profitable revenue mix, and more effective business processes.
“Our results for the quarter were in line with our guidance, driven by solid participation revenue, growth in Virtual Sports, and reduced overhead expenses,” said Lorne Weil, Executive Chairman of Inspired Entertainment. “Most importantly, our high-margin Virtual Sports business, which includes Interactive, delivered a great underlying performance, increasing 11.0% on a functional currency basis.”
Mr. Weil continued, “As we move into the second quarter, we have begun to see the impact of the April implementation of the new £2 stake limit in the UK. I applaud the efforts of our UK team, which has successfully remodeled and converted our games and software to satisfy the new requirements on an accelerated timetable. Results to date, albeit only one month, are generally in line with what we were expecting and we continue to believe the projected impact of the reduction in the maximum FOBT betting stake on our Adjusted EBITDA to be approximately $10 million to $11 million annually on a steady state basis. We remain optimistic about our strategy to mitigate a portion of the potential impact. However, with only one month of data, we are not yet prepared to predict either player adoption rates or the acceleration of the mitigants with greater specificity.”
“We continue to see strong growth in our Virtual Sports and Interactive businesses and we are extremely focused and encouraged by our business development activity across a number of key territories,” concluded Mr. Weil. “In particular we have a unique opportunity and a clear strategy to build our VLT, Virtual Sports and Interactive businesses in North America and we expect to see more meaningful results starting in the fourth quarter of 2019 when we plan to commence shipments of VLTs into the market.”
|
Summary of Consolidated First Quarter 2019 Financial Results (unaudited) |
||||||
|
Functional |
||||||
|
Qtr Ended |
Currency |
Currency |
||||
|
March 31 |
Change |
Movement |
Growth |
|||
|
2019 |
2018 |
(%) |
2019 |
(%) |
||
|
(In $ millions, except per share figures) |
||||||
|
GAAP Measures: |
||||||
|
Revenue |
$ 33.7 |
$ 37.5 |
-10.1% |
$ (2.5) |
-3.5% |
|
|
Net Operating Loss |
$ (0.7) |
$ (0.9) |
NM2 |
$ 0.1 |
NM |
|
|
Net (loss) |
$ (5.0) |
$ (0.5) |
NM |
$ 0.4 |
NM |
|
|
Net (loss) per diluted share |
$ (0.24) |
$ (0.02) |
NM |
|||
|
Non-GAAP Measures: |
||||||
|
Adjusted Revenue1 |
$ 33.7 |
$ 33.8 |
-0.5% |
$ (2.5) |
6.8% |
|
|
Adjusted EBITDA1 |
$ 13.7 |
$ 12.4 |
10.4% |
$ (1.0) |
18.5% |
|
|
1Reconciliation to GAAP shown below. 2Percentage change is not meaningful. |
||||||
Recent Highlights
Server Based Gaming (“SBG”)
- End of Period Installed Base Increased 11.6% Year Over Year –Installed terminal base at the end of the period increased to 35,286 due to the continued terminal rollout in Greece, growth from new contract awards in the UK Licensed Betting Office (“LBO”) estate, and further machine growth in Italy.
- Total OPAP Terminals Installed Increased to Over 7,300 – The roll out into Greece continued during the period, with an additional 500 terminals having been deployed on site and live as of March 31, 2019. The performance of our Greek terminals continues to be strong compared to those of other suppliers.
- Growth in Italy Estate –Customer Gross Win per unit per day in Italy increased by 4.2% (in Euros) across all customers compared to the same period last year, due to continued improvement in games and account management. However, an increase in tax on revenue reduced Net Win per unit per day by 22%.
- 125 Self Service Betting Terminals (“SSBTs”) sold and deployed in the UK – In addition to the hardware sale margin, these terminals also generate a recurring service fee.
- 50 “Flex” B3 Terminals Sold to a Major Customer in the UK – Terminals were installed towards the end of the first quarter and will result in a recurring service fee and content revenue share to Inspired.
- Over 100 “Sabre Hydra” Terminals Sold – These Electronic Table Games were sold to a major casino customer in the UK and are expected to be installed during the early half of 2019.
Virtual Sports
- Additional Virtual Sports Operators – Number of Virtual Sports operators increased to 101 live worldwide (as of March 31, 2019), up 7.4% from the same time last year.
- Launched Two Streams of Rush Football 2® with BetStars – Both scheduled and on-demand Virtual Sports launched online with BetStars, the international online sports betting brand of The Stars Group Inc., one of the world’s largest online gaming operators.
- Launched Rush Football 2 with the Moroccan Lottery – Virtual Sports went live in Morocco via the Intralot platform in approximately 200 venues.
- Inspired Named Virtual Supplier of the Year – The Gaming International Awards at ICE 2019 recognized Inspired as the Virtual Supplier of the Year.
Interactive
- Number of Live Interactive Customers Increased to 35 – Two new Interactive customers launched during the quarter via the NYX platform.
- Launched Proprietary Virtual Connect Platform with Genting Online – Virtual Horses, Dogs and Football went live in the UK on Genting’s online platform.
- Renewed Bet365 Contract – Inspired to continue to provide Virtual Sports online to Bet365 for a further three years.
- Signed Contract with BCLC to Provide Virtual Sports – New Interactive contract with British Columbia Lottery Corporation (“BCLC”) to supply Virtual Sports on demand, slots and table content.
“Now that the implementation of the £2 maximum stake in the UK is behind us, we are focused on mitigation efforts, including further streamlining of our organization, to more effectively align our resources. We began this process proactively last quarter and I’m happy to report that we realized over 400 basis points of year-over-year improvement to our Adjusted EBITDA margin in the quarter,” said Stewart Baker, Executive Vice President and Chief Financial Officer of Inspired. “We have also seen a decrease in our capital expenditures due to lower levels of machine spending and software development, leading to positive cash flow in the quarter.”
Management Outlook and Commentary
As previously announced, the implementation of the reduction in the maximum FOBT betting stake mandated by the Triennial Review took place on April 1, 2019. Management has made no changes to the outlook previously presented on the projected impact on Adjusted EBITDA to be approximately $10 million to $11 million annually on a steady state basis, assuming exchange rates remain stable. Outside of the UK FOBT business, management anticipates growth across its business units and more meaningful contributions from its North American business in the fourth quarter of 2019.
Overview of First Quarter Results
Total Revenue for the three months ended March 31, 2019 was $33.7 million on a reported basis. Revenue for the period decreased 3.5% year-over-year on a functional currency (£) basis, driven mainly by a reduction in SBG nil margin hardware and software license sales.
SBG revenue decreased by $2.4 million on a functional currency, or 8.5% at a constant rate, comprised of a reduction in service revenue of $1.2 million and reduction in hardware sales of $1.2 million on a functional currency at constant rate basis. Total SBG Recurring Revenue increased 1.1% on a functional currency basis.
Virtual Sports revenue increased by $1.1 million on a functional currency basis, or 11.0% at a constant rate, due to growth in the UK and growth in new customer launches in the rest of the world, as well as one-off income from historic recurring revenues previously unreported to the Company. Total Virtual Sports Recurring Revenue increased 16.7% on a functional currency basis.
Adjusted Revenue, revenue excluding nil margin sales, for the three months ended March 31, 2019 was relatively flat year-over-year on a reported basis and up 6.8% on a functional currency basis.
Adjusted EBITDA for the three months ended March 31, 2019 was $13.7 million, a year-over-year increase of 18.5% on a functional currency (£) basis and an increase of 10.4% on a reported basis. Adjusted EBITDA margin increased to 40.7%, from 36.6% in the prior year, primarily as a result of overhead savings due to lower staff related costs from group restructuring.
SG&A expenses decreased by $0.9 million, or 5.6%, on a reported basis, to $14.7 million. This decrease was driven by staff related cost savings of $1.5 million. These savings were offset by an increase in the costs of group restructure of $1.1 million (removed from Adjusted EBITDA) and a decrease in net labor capitalization and manufacturing recoveries of $0.7 million due to mix of projects and lower factory throughput as a result of fewer machines being built in the quarter.
On a reported basis, net operating result improved from a loss of $0.9 million in the prior period to a loss of $0.7 million, mainly due to savings in cost of sales and depreciation and amortization, partly offset by a decrease in revenue and increases in stock-based compensation, acquisition related transaction and SG&A expenses.
For the three months ended March 31, 2019 the Company reported a change in fair value of earnout liability of $2.3 million. In the prior period, due to changes in share price, the corresponding figure was a $3.8 million gain, a $6.0 million difference. On March 25, 2019 the shares relating to the earnout liability were issued and will no longer represent a liability to the Company.
About Inspired Entertainment, Inc.
Inspired is a global games technology company, supplying Virtual Sports, Mobile Gaming and Server Based Gaming systems with associated terminals and digital content to regulated lottery, betting and gaming operators around the world. Inspired currently operates approximately 30,000 digital gaming terminals and supplies its Virtual Sports products through more than 40,000 retail channels and over 100 websites, in approximately 35 gaming jurisdictions worldwide. Inspired employs more than 650 employees in the UK and elsewhere, developing and operating digital games and networks. Additional information can be found at www.inseinc.com.
Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Inspired Reports First Quarter 2019 Results
Reading Time: 6 minutes
Here are this weeks latest slots releases compiled by European Gaming
Spinomenal has expanded its Demi Gods Series with the launch of its epic new title, Majestic Atlas. Set high above the clouds, Majestic Atlas is a 5×3 game that’s framed within a grand celestial temple inspired by the beauty of ancient Greece. A powerful, atmospheric musical score evokes the might of Atlas and lifts the entertainment to new heights.
GAMOMAT has continued the sweet life of the beloved La Dolce Vita with the highly-anticipated La Dolce Vita 2. This new title picks up the love affair of the original with fresh gameplay, engaging features, and a beautiful new Italian location. Charming Giovanni returns to take centre stage within the bustling Italian village marketplace, where a heartfelt soundtrack creates a joyful atmosphere.
Amusnet has released its latest video slot, Ancient Coins. This captivating release transports players deep into the heart of the jungle, where adventure and ancient treasures meet across 5 reels and 25 fixed paylines. Rich with colour, atmosphere and detail, Ancient Coins is designed for those who seek excitement in every moment of their gameplay.
Promatic has released Apollo’s Garden of Riches – a new 5×3 slot game that combines elegant design, rewarding gameplay and a heartfelt connection to the company’s roots in the Karkonosze Mountains. The Karkonosze region – where Promatic was founded and continues to draw inspiration – is a place of amazing landscapes, legends and rare species.
PG Soft has released its uplifting game, Skylight Wonders. This game welcomes players aboard a hot air balloon traversing across a dreamlike world high above the clouds. There are increasing multipliers and three reel frames that transform winning symbols into Wild symbols.
Amusnet has released its new video slot game, 40 Mystic Gem. This gem-inspired title is set to light up the reels with brilliance, blending vibrant fruit symbols and radiant jewels in a game that captures both style and excitement. Featuring 5 reels and 40 fixed paylines, 40 Mystic Gem brings together a sparkling mix of modern design and timeless gameplay.
Evoplay has released Piggy Bank 3 Pots Bonanza, a vibrant and joyful slot where players can crack the safe for generous wins. With the inclusion of the popular 3 Pots mechanic and several thrilling features, the 5×3, 20-line game offers a colourful world of gold bars, diamonds, and the three titular Piggy Banks for an action-packed adventure.
Tom Horn Gaming invites players to step into a world of emerald fields, leprechauns, and hidden treasures with its latest release, 3 Ribbon Pots. Launched on 11 November, this fast-paced slot delivers a new take on the popular Hold&Win mechanic, adding depth, variety, and smoother gameplay.
SlotMatrix is bringing the fire with the launch of Hula Moolah, an explosive new slot from Powderkeg Studios. Set in a tropical paradise where Tiki gods rule and volcanoes erupt, Hula Moolah turns every spin into a molten-hot chance to win. The game’s centrepiece is the Hold & Spin Feature, ignited when the vibrant Tiki Wilds leap into the volcano.
Reflex Gaming is turning up the heat once again with the launch of 8 Balls of Fire Blazing Bounty, a thrilling sequel to one of the company’s most popular titles. The original 8 Balls of Fire became a breakout hit across multiple channels, and this follow-up brings even more action, jackpots and explosive potential to the reels.
BGaming summons a mystical cat-genie to help players’ wishes come true in the brand-new Golden Paw Hold & Win slot. Golden Paw Hold & Win provides a fresh perspective on the classic Hold and Win gameplay mechanic. The game boasts 1,024 ways to win on every spin, with a variety of five exciting progressive bonus rounds, expanding reels, and a mesmerising leading character.
Inspired Entertainment, Inc. is pleased to announce the launch of Cops ‘n’ Robbers Bigger Big Money Christmas developed by Inspired’s Bell-Fruit game studio. Set on a 3×5 reel set with 10-win lines, Cops ‘n’ Robbers Bigger Big Money Christmas is packed with thrilling features.
Inspired Entertainment, Inc., has launched Gold Cash Free Spins Super Wheel, a supercharged evolution of Inspired’s classic hit slot, Gold Cash Free Spins. Available across the UK and Malta iGaming markets.
Thunderkick has launched Pink Elephants Trinity, the third instalment of its mystical franchise, where six bonus game levels unveil a journey towards deep synesthetic immersion. The Swedish supplier has traded the desert landscape and starry sky for an ethereal jungle backdrop, where a tribe of monkeys gather around the Pink Flame for a ritual honouring the Pink Elephants.
Belatra has proudly released Slattors Battle – Orcs vs Elves, a slots saga that puts the fate of the world in players’ hands. Inspired by an ancient rivalry between the radiant Elven kingdoms and the fearsome Orc hordes, Slattors Battle – Orcs vs Elves unfolds on a 5×5 reels battlefield.
Play’n GO presents Rings of Prosperity, a slot rooted in ancient mysticism and the power of celestial guidance. Play’n GO’s Rings of Prosperity draws on the influence of Eastern mythology, placing players under the protection of the Dragon God – a symbol of strength and abundance.
Just Slots, has announced the release of its latest slot title, Book of Abyss. In this dark fantasy adventure, players descend into the realm of Abyss, a fallen queen demoness bound to a cursed diary. Every spin of the reels echoes Abyss’s torment, and when the mystical Book feature opens, players peer into forbidden chapters of her soul.
Playson ups the ante in its electric new release, More Energy Coins: Hold and Win, with an enlarged 5×4 reelset, special Collect Feature and 10,000x Royal Jackpot supercharging the excitement on offer. Inspired by Playson’s data-proven mechanics, the game’s starring Energy Bonus symbol unlocks the Collect Feature if it combines with any Bonus Symbol.
Blueprint Gaming has turned up the heat in its latest release, Lava Lock Jackpot King, with the sweltering title leading with a new Volcano feature and a host of refreshed modifiers for an enriched gameplay experience. Pele, the goddess of volcanoes, takes centre stage in the 5×3, 30 payline slot.
Gallop into Big Wins with Mustang Hold and Win from Booming Games! Step into the wild and untamed world of Mustang Hold and Win, where the free-spirited mustangs rule the reels. With a 5×3 grid and 25 paylines, this slot delivers an exhilarating experience with stunning visuals of the American wilderness.
BGaming boldly goes where no slot studio has gone before with the release of Star Trek: The Next Generation. The slot honours the legacy of the show, beaming players into a new dimension with an entertainment-first approach that will please Star Trek fans and newcomers alike.
The post Week 46/2025 slot games releases appeared first on European Gaming Industry News.
Latest News
Best in Sports named as “Sports Betting Supplier of the Year” by 5 Star iGaming Media Starlet Awards
Reading Time: 2 minutes
FIRST – Best in Sports, the Tier-1 sportsbook technology provider redefining global performance standards, has been honoured as “Sports Betting Supplier of the Year” at the 5 Star iGaming Media Starlet Awards 2025, recognising the company’s innovation, expansion, and leadership across regulated markets.
The award marks another milestone in a transformative year for FIRST, as the company continues to lead the sportsbook vertical with measurable results, a performance-driven product vision, and a growing footprint across LATAM, Europe, and Africa.
Built from the ground up for speed, scale, and absolute reliability, FIRST’s sportsbook engine has become the driving force behind more than 35 of Brazil’s leading operators, expanding rapidly through Mexico, Peru, and Argentina – markets that reward real technological power, not promises.
In regions where regulation is tightening and competition intensifying, FIRST has set a new benchmark for what performance means: instant automation, real-time data orchestration, AI-driven personalisation, and a seamless architecture that adapts faster than the market itself.
2025 was the year FIRST stopped chasing momentum and started defining it. With new strategic partnerships alongside Light & Wonder, Pixbet, and others already in motion, the company is not just participating in the race for innovation – it’s setting the pace. These collaborations are not about validation but about leadership: where others adapt, FIRST dictates direction.
Beyond commercial growth, FIRST has also advanced its regulatory roadmap, securing approvals and pursuing licences in multiple regulated markets, ensuring full compliance and future-ready scalability for its operator base.
Tom Light, Founder & CEO of FIRST – Best in Sports, commented:
“This recognition reflects our commitment to building the most advanced sportsbook technology in the market – one that’s fast, scalable, and truly local. But more than that, it celebrates the mindset of our entire team: we don’t follow trends, we create them. We set the standard for what a sportsbook partner should be.”
As the industry continues to evolve, FIRST remains focused on innovation that drives measurable impact – delivering the performance, reliability, and intelligence that define the future of sports betting.
The post Best in Sports named as “Sports Betting Supplier of the Year” by 5 Star iGaming Media Starlet Awards appeared first on European Gaming Industry News.
Reading Time: < 1 minute
SA Gaming is delighted to announce our new partner, EGT Digital, one of the largest gaming platforms in Europe. This agreement will see our games available on EGT Digital’s platform.
This collaboration marks an important milestone for both of us as it enhances our brand visibility and allows us to reach a broader audience. This alliance is also bringing elevated gaming experience to players on the platform of EGT Digital.
As one of the fastest-growing brands in Europe, EGT Digital has an extensive network and a comprehensive product portfolio that attract a diverse player base from numerous markets around the world. As players of EGT Digital now have access to our wide range of Live Games, which are certain to attract players – this new partnership certainly fulfills the business objectives of both EGT Digital and SA Gaming.
EGT Digital’s spokesperson commented, “For us at EGT Digital, the priority number 1 is always to give our customers the best gaming experience. That is why we are very pleased to have the opportunity to offer them SA Gaming’s titles, standing out with great thematic diversity, highly engaging mechanics and captivating bonuses. We believe that this partnership will both enrich our platform and enhance the game developer’s reach, while providing players with access to the high-quality gaming content they are looking for.”
As we continue to provide top-notch entertainment, this agreement creates new room for both of us to grow and flourish. We are eager to embark on this journey together and look forward to the infinite possibilities that would deliver exceptional value to all players.
The post SA Gaming partners with EGT Digital to offer extraordinary gaming experiences appeared first on European Gaming Industry News.
-
Latest News2 months ago
Duels for Friends in Trophy Hunter. Invite your friends and create a shared space for fun and competition.
-
Latest News3 months ago
BC.GAME Launches “Nezha” Slot with Up to 46,656 Ways to Win and 10,000x Max Payout
-
Latest News2 months ago
Announcement: 25th September 2025
-
Latest News3 months ago
NODWIN Gaming Acquires Sony Interactive Entertainment’s Stake in Evo; Becomes Majority Holder
-
Latest News2 months ago
Flamez – A Fiery New Online Casino Contender from Ganadu
-
Latest News2 months ago
The Countdown is On: Less Than 3 Months to Go Until The Games of The Future 2025 Kicks Off in Abu Dhabi
-
Latest News2 months ago
GR8 Tech’s Bet It Drives Wraps Season 1 with Stephen Crystal—From Las Vegas Legends to Global Gaming Leadership
-
Latest News2 months ago
AI-Powered Gamification Arrives on Vegangster Platform via Smartico
You must be logged in to post a comment Login