Revenues up but Inspired continues to record losses

Land and online gambling technology supplier Inspired Entertainment has posted its Q2-2017 results, reporting a net loss of $8.3 million despite improved revenues up 9 percent at $32.3 million.

The company reported EBITDA down 10.2 percent at $9.6 million but boasted solid growth in its server based gaming and virtual sports and mobile divisions, particularly in the Greek market.

President and CEO Luke Alvarez said that the company has multiple engines of growth across the business accelerating in parallel.

Developments highlighted by the company included:

* Three mobile RGS implementations were launched during the quarter with mobile casino operators Leo Vegas, My Bet and Sky Bingo. After the quarter-end, Inspsired also secured a contract with Mr. Green, a fast-growing online casino group. Mr. Green is now live with several of Inspired’s HTML5 games.

* The company launched its first Rush Go on-demand virtual sports games across multiple mobile RGS customers, and these new types of hybrid sports games are exhibiting encouraging signs of player interest.

* Server based gaming roll-out in Greece has gone well with 1,050 terminals installed as of June 30, 2017. The full deployment is expected to be at least 3,960 terminals in the first half of calendar 2018. The performance has been strong in the Greek OPAP estate, where, Is[pired claims its terminals have outperformed those of competitors. Virtual Sports is now live with OPAP in 4,600 retail venues.

* In the UK 550 Self-Service Betting Terminals (“SSBTs”) were installed in betting shops, and second and third Virtual Sports channels were launched with a major UK betting retailer.

* Inspired continued to deploy SBG terminals with its sixth Italian concessionaire, Gamenet. As of June 30, 2017, there were 125 terminals installed and launched.

* The company’s virtual sports product is also live now in Poland with Central Europe’s largest betting operator, Fortuna, through its retail venues.

* Finnish operator Veikkaus selected the company as its virtual sports supplier.