Inspired Entertainment has extended its long-term deal with online gambling operator and Inspired's long-time partner bet365 as the provider of virtual sports.
According to the contract, Inspired will supply bet365 with its most recent products, including licensed games, giving bet365 the advantage of having the material for its Virtual Sports services.
Brooks Pierce, President and CEO of Inspired, said: "We are extremely pleased to continue our long-term partnership with bet365, the world B2C leader in Virtual Sports, offering up more than 30 channels of Inspired content around the world. They were the first operator to offer our Multi-Stream Matchday and Basketball products.
"We're thrilled for them to be one of the first operators to take our latest licensed products to grow their popular Inspired Virtual Sports portfolio."
With the addition of basketball, football, the first-ever women's soccer game and baseball, Inspired's Virtual Sports have experienced significant growth in North America over the past five years.
For Q4 2022, Inspired Entertainment earned $78.6m, an increase of 17% from the previous quarter. The provider reported increases of 42% in gaming, 36% in virtual sports, and 9% in interaction. In these corresponding business segments, the company reported functional currency growth rates of 34%, 61%, 56% and 24%.
Inspired recorded a net income of $3.1m for Q4 compared to a net loss of $1.2m in the same quarter last year.
Lorne Weil, Inspired Executive Chairman, said: "Our fourth quarter results ended a record year for Inspired, in which we achieved double-digit, year-over-year top and bottom-line growth and reached a record annual revenue and a milestone of $100m in adjusted EBITDA, even in the face of significant adverse currency movements.”
