Gambling group Inspired Entertainment has posted their first quarter 2018 financial results, noting that revenues were up 14.3% from the same time last year.
Key financial indicators for the quarter ending December 31st, 2017 were:
- Revenues of $31.4 million, up 14.3% from the period last year.
- Net Operating Loss of $4.4 million, which is 52.3% better from the same period last year.
- Net Loss of $4.2 million, 81.4% better than the $22.4 million loss recorded last year.
- Adjusted EBITDA up 16.2% to $9.8 million.
Speaking about the results Inspired CEO Luke Alvarez said, "We are pleased with our first quarter results, which reflect strong growth in recurring revenues, expansion in non-UK European markets and achievement of a key market entry in North America."
"Our Greek SBG business continues to strengthen, with two additional orders from OPAP since the original contract and a new partnership with Novomatic."
"Our UK SBG business is expanding, as we deploy our new contract for additional terminals with Betfred.
"Our Virtual Sports business has expanded with multiple new launches in Italy, the UK, Greece, Poland and Romania, and with new contracts in the UK, Finland and Latin America.
"We are now live with Virtual Sports in New Jersey, with five online casinos including Caesars and Golden Nugget."
"We achieved a great deal in the first quarter and our business is expanding in multiple areas, especially in new European and U.S. markets and in regulated online and mobile channels.
"We are very pleased with progress in the business and looking forward to accelerating international growth, especially in North America."