Inspired continues ‘positive momentum’ in third quarter

Luke Alvarez, chief executive and president of Inspired Gaming Group, has paid tribute to the firm’s performance during the three months to June 30, saying it was able to continue to exhibit “positive momentum” in the period.

Revenue in the third quarter totalled $32.3m (€27.5m), up 9.9% on the $29.4m that was recorded in the corresponding period last year.

Net loss at the company was cut from $13.6m to $8.3m, while net loss per diluted share also fell from $1.15 to $0.41.

However, adjusted earnings before interest, tax, depreciation and amortisation fell 10.3% year-on-year to $9.7m, while net operating gain fell from a positive of $651,000 in the third quarter of 2016 to a negative of $705,000 in the most recent three-month period.

“Inspired continues to exhibit positive momentum; we again delivered solid volume growth in both our SBG estate and our virtual sports and mobile business, driven both by increasing market penetration and improved underlying performance from existing operators,” Alvarez said.

“We have also been pleased by the significant progress we have made in both lines of businesses in Greece, which we expect to be material contributors going forward.

Lorne Weil, chairman of Inspired, added: “The performance of our underlying business was consistent with our expectations, highlighted by the significant progress we have made in Greece, where our content has exhibited market-leading performance.

“Management continues to be highly focused on pursuing strategic opportunities to utilise our platform to accelerate growth further.”

Related article: Inspired Gaming reports dip in sales for Q2