Inspired Entertainment has released an update on growth trends and developments in its online businesses, highlighting its total revenue increased from £ 1.2 million in January to £ 3.1 million in December.
In this regard, Inspired's growth in online casinos and virtual sports outpaced the general market, even as the general online gaming market grew significantly during 2020.
According to a press release, much of Inspired's growth in 2020 came from its existing customer base in Europe, reflecting the increasing migration of end users to online platforms, an increase in volume, and the popularity of new proprietary content. from the Company, significantly improved game quality, strong account management, and the launch of Virtual Plug & Play ™.
In addition, Inspired has expanded its international presence with more than 50 new online customers in the UK, New Jersey, Canada, Greece, Mexico, Germany, Belgium, Turkey, Italy, and Sweden and further expanded its interactive aggregator base.
During 2020, the company claims that the maximum level of casino gaming increased from 8,000 games per minute to more than 22,000 games per minute, demonstrating the adaptability of the platform to significant increases in the volume of activity.
Here are some key aspects of Inspired Entertainment's growth.
Jurisdictional Expansion
Inspired entered the North American market in late 2018 and experienced accelerated growth during 2020.
- New Jersey Success: Inspired has expanded its presence to now include more than half of New Jersey operators as revenue generating customers.
- New Provider License in Michigan: Inspired received a provisional license to supply its online games by the Michigan Gaming Control Board in January 2021.
- New Provider License in West Virginia: Inspired received a provider license from the West Virginia Lottery Commission in November 2020 and is committed to distributing its content later in 2021.
Inspired has agreements with most of the major online operators and aggregators and continues to seek to expand its distribution channels and brand awareness in North America and beyond by making its casino and virtual sports online content available through these operators and aggregators.
- Extended framework agreement with Entain: In January 2021, Inspired entered into a new long-term agreement with Entain plc for the provision of virtual sports across all Entain brands.
- Expanded Arrangement with Snaitech in Italy: In January 2021, Inspired entered into a new virtual sports agreement with SNAITECH in Italy. This agreement expands upon the companies' existing partnership and provides for the launch of virtual sports on SNAITECH's sports betting app and an additional seven virtuals products in 2021, giving SNAITECH the largest suite of virtuals in Italy
- Launch with Stoiximan and OPAP in Greece: Adding to its successful Greek online business, which includes Novibet, Inspired's Interactive content launched with Stoiximan and OPAP in the second half of 2020, with scheduled online virtuals expected to launch in 2021.
Regarding this great growth, Lorne Weil, executive president of Inspired, highlighted the satisfaction with the “impressive revenue growth trajectory.” In this sense, he highlighted that “Online gaming is a multi-billion dollar, high-growth segment and we believe we have barely scratched the surface with our casino and virtual sports
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