Inspired Entertainment has reined in a successful 2020, shaking up the company’s focus on online business operations.
Online Consumer Shift Boosts Inspired Entertainment Results
Following a strong Q3, Inspired Entertainment posted an update on its growth targets and achievements, with a particular focus on online operations globally, featuring both iGaming as well as virtual sports products.
The company’s aggregate revenue between January 2020 and December 2020 grew from $1.7 million to $4.3 million, driven by the casino and virtual sports online products and bolstered by the pandemic that shuttered retail operations.
Most of the results were generated by the European audience with more consumers flocking to online platforms instead of brick-and-mortar facilities, yet numbers kept coming in from all major markets. Inspired adapted swiftly, breaking ground into new forms of entertainment and launched the proprietary Virtual Plug & Play (VPP) solution that makes for “a complete end-to-end online and mobile all-in-one virtual offering.”
The year was good for the company which secured new 50 customers throughout the period, striking new partnerships in the United Kingdom, New Jersey, Canada, Greece, Turkey, Mexico, Germany, Belgium, Sweden, and more. To put the pandemic in perspective, Inspired registered 22,000 players per minute in December 22, soaring from just 8,000 plays per minute.
Opening up to New Jurisdictions, Revving up Production
In terms of new markets, Inspired Entertainment entered into several important states in America, including New Jersey, Michigan and West Virginia, obtaining license in all three major markets.
Production-wise, the company was able to introduce 31 interactive slot games, compared to 20 a year before that. The pace of development is expedited further for 2021, with 40 games now planned for release and an existing portfolio of 100 products at the time of reporting.
The roll-out of the End-to-End Virtual Sports is another successful milestone in the company’s track record for the past year, with more coming from numerous best-in-class virtual experiences, such as Matchday Soccer, Basketball, US Horses, NFL Alumni, and more.
Commenting on the success achieved by the company so far, Inspired Entertainment executive chairman Lorne Weil said that everyone was pleased with the online business growth in 2020, a trajectory that the company now wants retain throughout 20210.
“With the growing popularity of our content, increased brand awareness and rapid speed to market, we are confident we are well-positioned to capitalize on this opportunity.”-Inspired Entertainment executive chairman Lorne Weil
Inspired is moving forward with a clear focus on its online business. The company provided successful simulations of the Kentucky Derby, one of the Triple Crown’s main tickets, after the actual event had to be cancelled due to COVID-19 fears.
Jurisdiction growth, as well as content production, will come uppermost for Inspired, Weil concluded.