Inspired Entertainment Inc has delivered an update on growth trends and recent business developments in its online operations comprising its global slot and virtual sports content licensed to online operators.
During 2020, aggregate revenue across all of the company’s businesses rose from $1.7m to $4.3m in December, marking a two-and-a-half-fold increase. The firm’s growth in casino and virtual sports online outpaced the general market, even while the general market for online games grew significantly during 2020.
Focusing on jurisdictional expansion, specifically in North America, Inspired noted that having entered the marketplace at the end of 2018 it has experienced accelerating growth during 2020. Business, it said, is expected to benefit from an increased presence in a number of key jurisdictions.
Among the success stories is New Jersey where the firm has expanded its presence to now include over half of the Garden State’s operators as revenue-generating customers. “Given the performance of our content in the market, a number of additional customers intend to launch our VPP product in the near future,” it claimed.
Inspired was also granted a provisional license to supply its online games by the Michigan Gaming Control Board in January 2021. Michigan has launched play and, with a population of approximately 10 million people, remains a focus igaming market for the company. The firm’s remote gaming server platform is expected to launch in early 2021 with 12 slot titles which will be added to continuously going forward.
Also noteworthy was the award of a new supplier license in West Virginia from the West Virginia Lottery Commission in November 2020, leading to commitments to distribute its content later in 2021.
Turning to the subject of recent customer developments, Inspired confirmed it has struck agreements with most of the major online operators and aggregators. It 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.
Additionally, the firm has entered into a new long-term agreement with Entain plc for the provision of virtual sports across the operator’s brands. This agreement is incremental to Inspired’s existing contract for online casino content and represents a significant extension in scope and duration to the existing arrangements.
In terms of product development, the company said it has utilized its portfolio of in-house produced virtual sports and slot content to create a collection of HTML5 games for both online and mobile players. In the past year, it has seen an approximate 50% increase in new slot title introductions alongside the launch of a new online virtual sportsbook and several virtual sports variants.
The company also revealed that having introduced 31 new Interactive slot games versus 20 in 2019, it expects to release up to an additional 40 games into its existing library of over 100 games. “Players want to play in innovative new ways and many of these new games will be custom built to suit players in specific markets, such as North America and Greece,” it stated.
2020 saw the launch of Inspired’s proprietary VPP platform in 2020 and the completion of integrations with Scientific Games, Playtech, SBTech, Pariplay and iForium. VPP is simple, quick to install and customizable, making virtual sports available with no sportsbook integration.
Executive Chairman Lorne Weil commented: “We are very pleased to see our online business continue its impressive revenue growth trajectory. 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 products.
“With the growing popularity of our content, increased brand awareness and rapid speed to market, we are confident we are well-positioned to capitalize on this opportunity. Going forward, we expect the online operations to make up a larger part of our business and we are excited for the future as we seek to grow further through jurisdictional expansion, new commercial agreements and product development.”