Inspired Q2 2024 Earnings Report
Key Takeaways
Inspired Entertainment reported solid second quarter 2024 results, driven by a strong performance in the Interactive segment, which achieved record-breaking revenue and Adjusted EBITDA. The company is focused on expanding its Hybrid Dealer offering and anticipates growth in Virtual Sports revenue in the second half of the year. The gaming and leisure segments continue to provide a core foundation to earnings and cash flow.
Interactive segment achieved record-breaking revenue and Adjusted EBITDA, up 40% and 69%, respectively, compared to the same period last year.
Expansion of Hybrid Dealer offering remains a top priority, with successful launch of game show wheel with BetMGM in Michigan in July.
Expects revenue and Adjusted EBITDA during the second half of the year from Virtual Sports will exceed the revenues and Adjusted EBITDA from the first half of 2024.
Extended long-term partnership agreement with William Hill, covering approximately 1,300 betting shops in the United Kingdom, with William Hill set to add 5,000 new VantageĀ® cabinets.
Inspired
Inspired
Forward Guidance
Inspired Entertainment anticipates continued growth and innovation, with a focus on expanding its Hybrid Dealer product, strategic partnerships, and a range of initiatives in Virtual Sports, remaining committed to delivering long-term value for its shareholders.
Positive Outlook
- Expansion of Hybrid Dealer offering with successful launch in Michigan.
- Anticipated growth in Virtual Sports revenue in the second half of the year.
- Strategic partnership with William Hill and deployment of new Vantage cabinets.
- Continued innovation and adaptation to market dynamics.
- Commitment to delivering long-term value for shareholders.