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Angel Hristov February 6, 2024 2 min read
Nasdaq Approves Inspired’s Plan to Regain Its Compliance
Inspired justified its late filings with accounting errors that it still needs to fix
Inspired Entertainment, a leading B2B provider of gaming content, technology, hardware and services, has secured approval for its compliance plan from the Nasdaq Stock Market. The plan is for the company to file a Form 10-Q for the quarter ended September 30, 2023, by February 28, 2024, at the latest.
In addition to filing the report within the aforementioned timeframe, Inspired is also working to complete the 10-K/A for the year ended December 31, 2022, with restated financial statements. Furthermore, the gambling content provider is also working to submit forms 10-Q/A for the quarters that ended March 31, 2023, and June 30, 2023.
Inspired said that it is working hard to file all needed reports on or before February 28 this year.
Inspired Failed to Publish Its Reports on Time
For reference, Inspired Entertainment was first contacted by Nasdaq in November after failing to submit its Q3 2023 report on time. While the company explained that it needs more time to complete certain statements, Nasdaq reminded it that belated fillings are in breach of its rules.
As a result, the exchange provided the company with time until January 22 to submit a plan to regain compliance. While the company missed the deadline, instead submitting its plan on January 23, Nasdaq has now officially accepted the plan.
For reference, Inspired justified its late filings with accounting errors that it still needs to fix. According to the company, errors were identified in multiple quarterly reports since January 1, 2021. Because of that, the company would need to restate these results.
Inspired to Showcase New Products at ICE London
In other news, Inspired Entertainment just announced that it will debut a variety of new products at ICE London, a tradeshow set to run from February 6 to 8.
One of these new offerings is NBA-themed virtual sports, a product of an agreement between Inspired and the NBA. The new products will feature official NBA imagery, such as team logos and archived footage.
In addition, Inspired will also showcase Hybrid Dealer, a brand-new product category that blends physical and digital elements to engage fans. Inspired will also introduce the revolutionary Vantage Cat C cabinet.
Finally, Inspired will also showcase a mix of iGaming content and mechanics, providing an insight into its upcoming projects.