Gambling in the USA

Inspired Generates Revenue of $71.7M in Fourth Quarter of 2020

Published

3 years ago

March 15, 2021

INSPIRED LAUNCHES IN ONTARIO WITH BETANO

Inspired Entertainment has generated total revenue of $71.7m and adjusted EBITDA of $34.9m in the fourth quarter of 2020.

These results include a payment from a UK LBO customer related to the company’s contractual revenue share of their value-added tax rebate, which positively impacted revenue by $32.5m and adjusted EBITDA by $31.7 million (in conjunction with third party fees).

Lorne Weil, Executive Chairman of Inspired, said: “October was a stellar month and indicated how quickly we could recover before our land-based businesses went back into lockdown in November and December.”

“Our October monthly revenue of $21.2m and adjusted EBITDA of $6.8m, or 32 per cent of total revenue, was nearly 20 per cent above October 2019 and the highest monthly levels we experienced in 2020, excluding the VAT-related income.

“This follows the general pattern we saw of sequential monthly growth throughout the third quarter 2020 following the second quarter lockdown.

“Importantly, year to year growth in October occurred despite the fact that October performance was impacted by pub curfews in early October and the introduction of tiered closures in the second half of the month.”

The Company’s business across its online virtuals and interactive channels showed strength in the quarter with revenues increasing sequentially from $3m in October to $3.3m in November to $4.2m in December. This reflects year-over-year growth of 89%, 95% and 99%, respectively, over $1.6m, $1.7m and $2.1m in the same months in 2019.

Weil continued: “While the UK is expected to remain on lockdown through the first quarter 2021, based on the UK Prime Minister’s public statement on February 22, and assuming achievement of key goalposts, the UK will ease lockdown restrictions in stages with LBOs reopening in April, pubs and holiday parks reopening in May and an end of the lockdown by June 21.

“By the end of the second quarter 2021, assuming the UK ends its lockdown, we would expect our UK business to be on a run rate similar to where we were in the third quarter 2020 when we generated $17.1m in adjusted EBITDA, excluding VAT-related income, at current exchange rates.”

Weil concluded: “Furthermore, by the third quarter 2021, we expect to have the added benefit of our online business having grown substantially year over year with continuing expectations for growth from that higher starting point due to a strong business development pipeline, including new commercial agreements in existing territories, jurisdictional expansion in North America, Europe and South America and continued strong product development across both Interactive and online virtual sports.

“We also expect to have our holiday park business back to pre-pandemic levels, which was not the case in the third quarter 2020 given local restrictions.

“We’re confident that, as we did last time, we will recover quickly once lockdowns are lifted to emerge from this pandemic even stronger than before with a lower cost structure, improved liquidity, a larger customer base and increased growth opportunities.”

Related Topics:Adjusted EBITDA Inspired Entertainment Lorne Weil Executive Chairman of Inspired total revenue

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Gambling in the USA

Games Global Launches Custom Slot Game Caesars Palace Frenzy with Caesars Digital

Published

4 days ago

April 22, 2024

Alan Campbell

Launch marks the first bespoke game launch in the partnership between gaming operator and premier gaming provider

Games Global today announced the exclusive launch of Caesars Palace Frenzy, a Caesars-branded slot title that marks the first bespoke game launch on behalf of Games Global’s partnership with premier gaming operator Caesars Digital. Caesars Palace Frenzy is now exclusively live on Caesars Palace Online Casino in New Jersey with plans to expand to Michigan and Pennsylvania, offering players another highly engaging, operator-specific gaming experience with iconic Caesars Palace branding.

Caesars Palace Frenzy combines the excitement of the Las Vegas Strip’s iconic casino with innovative gaming dynamics crafted by Games Global. Designed exclusively for Caesars Digital online casino players, this game delivers an online slot experience with engaging gameplay, sophisticated graphics and dynamic features like scatter pays, multiplied free spins selected by a concentric wheel and a seven-tier jackpot line-up.

This launch demonstrates Games Global’s continued emphasis on partnering with top iGaming operators to deliver exclusive and custom gaming products to players.

“Working closely with Caesars Digital to create Caesars Palace Frenzy has been an exciting journey,” the Chief Executive Officer for Games Global, Walter Bugno, said. “This game is more than just an online slot experience, it is an adventure that mirrors the thrill and grandeur of one of the world’s most iconic destinations. We’re thrilled to see it come to life and deliver a unique blend of entertainment and gaming.”

“We’re committed to collaborating with top gaming providers to launch custom online casino experiences for our players that can’t be found anywhere else,” the Senior Vice-President and Chief iGaming Officer for Caesars Digital, Matt Sunderland, said. “Caesars Palace Frenzy delivers on that commitment by providing an elevated gaming experience that we’re certain our players will enjoy.”

Gambling in the USA

Alabama-Coushatta Tribe of Texas Announces Plans to Build New Casino Resort

Published

4 days ago

April 22, 2024

Niji Narayan

The Alabama-Coushatta Tribe of Texas has announced the plans to build a brand-new casino resort on its Tribal lands in Polk County.

“We are incredibly excited to embark on this new chapter. This new casino resort will not only provide significant economic benefits for those living and working in the region, but it will also become a vibrant destination for visitors,” Ricky Sylestine, Chairman of the Tribal Council, said.

While specific details are still being finalized, the new resort may offer a variety of amenities including a state-of-the-art casino floor, hotel accommodations, and diverse dining and entertainment options.

The Tribe has engaged the architectural firm FFKR to design the new resort. FFKR is known for its innovative and creative designs. The Tribe is confident the firm will create a truly exceptional destination.

In addition to the new casino resort, the Tribe is planning an extensive remodel to its existing Ischoopa/One Stop Convenience Store and Truck Stop. The remodel will include adding electronic bingo machines.

The Alabama-Coushatta Tribe of Texas will be releasing news related to the new resort and any additional developments in the coming months.

Gambling in the USA

BetConstruct to Display Its Products and Services at Sigma Americas

Published

1 week ago

April 18, 2024

Peter Tolan

BetConstruct, a leading company in iGaming technology and services, is heading to Sigma Americas in Sao Paulo, Brazil from April 23-25, 2024.

Sigma Americas is a major event focusing on iGaming with 10,000 delegations and more than 200 professional speakers. This event serves as an exceptional platform for participants to present their innovative offerings, engage with fellow industry leaders, and establish new business relationships.

BetConstruct is poised to introduce its cutting-edge products and solutions to the growing Brazilian market at the upcoming event. As a premier provider of online iGaming solutions, the company will showcase its comprehensive range of services to all attendees, offering diverse solutions tailored to meet their specific needs and preferences.

Moreover, BetConstruct will demonstrate its newest Spettacolare offer by Mr. First, which is a fleeting opportunity to maximise user profits and explore the potential of FTN.

Attendees of the event can find BetConstruct in the Transamerica Expo Center at Stand O60, where they will have the opportunity to gain a comprehensive understanding of BetConstruct’s products and solutions.