Inspired Entertainment has released its results for the fourth quarter and full year of 2023, achieving some company records.
Q4 2023
In the fourth quarter of 2023, total revenue for Inspired reached $81.2m, a 6% increase on Q4 2022. This was mainly driven by interactive revenue, which went up by 49% during the quarter, while gaming and virtual sports revenue both dropped during the period.
Net income was valued at $0m, while adjusted EBITDA rose by 3% during the quarter up to $26.5m.
Like with revenue, interactive was the main driver of growth for total adjusted EBITDA, as it increased by 45% to $4m, while there were decreases for virtual sports and leisure.
FY 2023
Looking at the full-year picture, Inspired’s revenue was a record total for the company, reaching $323m, a 15% year-over-year rise. All segments of the supplier's revenue streams saw growth, but the most significant was interactive at 35%, though it was gaming with $112m that still represented the largest total.
Total adjusted EBITDA for 2023 was also a record amount for the company at $100.5m. Virtual sports held the largest figure here with $47.7m, but it was interactive that increased the most at 36% up to a total of $15.4m. Leisure and corporate’s adjusted EBITDA did decrease, however, during the year.
Net income for the full year was set at $7.6m, which actually represented a drop of 63% year-over-year.
Comments
Inspired Executive Chairman Lorne Weil said: “As the global online betting and gaming ecosystem continues evolving, with some new markets opening and consumer adoption increasing, we see opportunities for continued growth.
“Our virtual sports products, distinctly innovative iGaming offerings like Hybrid Dealer and unmatched content portfolio position us at the head of this digital transformation. We are excited about the opportunities ahead as we seek to capitalize on the expanding online betting and gaming markets globally.”
In other financial news, Kansas has reported on its sports betting results for March, with total revenue in the state reaching $7.1m.
