Inspired Entertainment, Inc. (NASDAQ: INSE), a B2B provider of gaming content, technology, and services, has reported its financial results for the first quarter ended March 31, 2025.
The company posted total revenue of $60.4 million, primarily driven by the performance of its Interactive segment, which recorded a 49% year-over-year increase in revenue. The net loss for the quarter was $0.1 million, while adjusted net income reached $3.8 million.
Adjusted EBITDA for the quarter was $18.4 million, representing a 19% year-over-year increase, largely due to a 75% growth in Interactive Adjusted EBITDA. The Interactive segment's adjusted EBITDA margin expanded to 64%.
Performance by business segment:
- The Gaming segment reported higher margins, supported by new terminal deployments in Greece and the UK, including the rollout of the Vantage cabinets in partnership with William Hill.
- The Virtual Sports segment was affected early in the quarter by regulatory and tax changes in Brazil. However, recent weekly and monthly trends show signs of stabilization.
- The Leisure segment performed as expected during what is typically a seasonally slower period, impacted by shifts in UK public holiday timing.
Inspired also announced it has entered into a commitment letter for £287.8 million in new private credit facilities, provided by Barclays and HG Vora. The financing includes a £17.8 million super senior revolving credit facility (expected to be undrawn at closing) and £270 million in senior secured term debt, maturing five years from closing. The transaction is expected to close in early June 2025.
Additional business highlights:
- Expanded partnership with Rush Street Interactive to launch in new markets including Mexico and the U.S. state of Delaware.
- Extended supply agreement with Buzz Bingo, a leading UK omni-channel bingo operator.
- Post-quarter launch of Roulette 4 Ball Extra Bet in the UK with Gamesys and via Relax Gaming.
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