Inspired hails ‘solid growth’ after revenue rises in 2017

5 December 2017

Inspired Gaming Group has said it is optimistic about its prospects in 2018 after reporting a 2.3% increase in revenue in fiscal 2017.

Revenue for the 12 months to September 30 amounted to $122.5m (€103.3m), but Inspired noted that adverse currency movements had an impact of $16.6m, which in turn resulting in a constant currency increase of 16.2%.

Net loss was cut by 18% from $59.9m to $49.1m, while net loss per diluted share at the company also improved by 47.6% from $5.11 to $2.68.

Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) dropped 2.3% from $41.6m to $40.7m, but in terms of constant currency, this result actually increased by 10.6% year-on-year.

Inspired also reported an 8% rise in the number of gaming terminals installed in its various operating markets at the end of the period.

Luke Alvarez, president and chief executive of Inspired, said: “We delivered solid growth in both of our key business lines, we added new US and European customers and we launched into multiple new geographies.

“We are particularly pleased with our results in Greece, where our SBG terminals and games are amongst the strongest in the market and our virtual sports have created a large new source of regulated income for our lottery customer.

“Progress across all our business is strong - UK, rest-of-world and US; land-based and mobile; SBG; and virtual sports – and we are optimistic about our prospects for fiscal 2018.”

Related article: Inspired continues ‘positive momentum’ in third quarter