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Inspired Entertainment reports strong fiscal year

Gaming and virtuals supplier Inspired Entertainment has released its fourth quarter and full year 2020 results.

FinancialReports

For the full year of 2020, Inspired generated $199.8m (£143.3m) in revenue, a 30.2% rise.

Its final quarter revenue also increased to $71.7m, up 8% from 2019. The supplier generated adjusted EBITDA of $34.9m. These figures include a payment from a UK LBO customer, which changed revenue by $32.5m and EBITDA by $31.7m.

Due to an efficient pipeline of existing opportunities in North America, Europe and South America, Inspired saw its fourth quarter aggregate online revenue nearly double year-on-year.

Lorne Weil, executive chairman of Inspired, said: “This follows the general pattern we saw of sequential monthly growth throughout the third quarter 2020 following the second quarter lockdown. 

“Importantly, year-to-year growth in October occurred despite the fact that October performance was impacted by pub curfews in early October and the introduction of tiered closures in the second half of the month."

Changes to land-based venues had a negative impact to revenue in November and December. The UK tiered system meant venues could stay open but only operate with restrictions. This naturally limited revenue despite incurring near full-service costs. 

Weil has insisted that should the UK slowly lift Covid-19 restrictions, 2021 could yield even stronger results. He added: “We also expect to have our holiday park business back to pre-pandemic levels, which was not the case in the third quarter 2020 given local restrictions.  

“We're confident that, as we did last time, we will recover quickly once lockdowns are lifted to emerge from this pandemic even stronger than before.”

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