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Inspired Entertainment Maiden
MAIDEN QUARTER RESULTS FROM INSPIRED ENTERTAINMENT
Company feels the impact of adverse currency fluctuations.
Inspired Entertainment has released its maiden quarterly results following Hydra Industries Acquisition Corp’s acquisition of Inspired Gaming Group and the consolidated company’s rebrand to Inspired Entertainment Inc.
Its maiden results are beset with the impact of adverse currency fluctuations, however, the company remains confident of its sustainability saying its constant currency operating performance demonstrates the strength of the fundamentals in the business even before the launch of certain key new markets later in the year.
Key performance highlights for the quarter ended December 31, 2016 2017 include:
- Total revenue increased $2.4 million on a constant currency basis, offset by adverse currency impacts of $6.2 million, which resulted in a reported decrease in revenue from $30.8 million to $27.0 million (-12.3 percent).
- SBG revenue increased by $2.3 million on a constant currency basis, comprised of growth in hardware sales of $1.5 million and growth in service revenue of $0.9 million. This was offset by an adverse currency impact of $4.6 million, resulting in a reported decrease in SBG revenue from $22.3 million to $20.0 million.
- On a constant currency basis, Virtual Sports revenue increased by $0.1 million. Growth in revenue of $0.4 million was mainly offset by a decline in license revenue due to roll-off of revenue recognition of legacy contracts. On a reported basis, Virtual Sports revenue decreased by $1.5 million due to an adverse currency impact of $1.6 million.
"Strong performance in our Server Based Gaming estate and continued expansion in Virtual Sports recurring revenue drove growth in constant currency revenue and Adjusted EBITDA in the quarter,” Luke Alvarez, chief executive officer and president of Inspired, said.
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
Fair Play Bets and QuickFire in Deal -
Fair Play Bets enjoys an unrivalled reputation for an outstanding player experience, with secure deposits and withdrawals, surprising casino bonuses and committed customer support. Fair Play Bets is licensed in UK, Malta and Curacao.
Cavaliers Aim to Take Down Wizards on 2/22/18 -
The Cleveland Cavaliers have looked like a different team since making their moves at the trade deadline. The Washington Wizards are up next for the Cavaliers, who will be at home after the All-Star break.
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