Betfred to Procure 5,000 Vantage™ Cabinets in New Contract
NEW YORK, Nov. 9, 2022 /PRNewswire/ -- Inspired Entertainment, Inc. ("Inspired" or the "Company") (NASDAQ: INSE), a leading B2B provider of gaming content, technology, hardware and services, today announced a new five-year contract with Betfred Group, a UK-based bookmaker that owns and operates over 1,400 betting shops in the UK with over 50 years of experience.
As part of this agreement, Inspired will exclusively provide Betfred with fully integrated managed services for its entire estate of over 5,500 terminals, including installation, remote and field technology support, as well as platform and content deployment. In addition, Betfred has committed to the procurement of 5,000 new Vantage™ server based gaming ready cabinets throughout 2023. The latest edition to the Inspired VLT family, Vantage is powered by an intelligent operating system that features a modern and intuitive next-generation menu with key functionality that drives player game recommendations based on their playing sessions.
"This is a milestone contract for Inspired, securing our largest UK betting shop customer estate until 2028," said Brooks Pierce, President and Chief Operating Officer of Inspired. "We are extremely pleased with the results of our new Vantage terminal, which Betfred has agreed to purchase as part of this contract, and we expect that arrangement to be the norm for our LBO customers going forward."
"Inspired has been a trusted key supplier for 20 years with whom we have a very collaborative partnership," said Mark Stebbings, Betfred Group Chief Operating Officer. "We aspire to provide our customers with the best possible experience and Inspired's new Vantage cabinet delivers. We have been impressed with Vantage's results and we are excited for our customers to enjoy Inspired's best-in-class innovative technology, hardware and content."
Inspired offers an expanding portfolio of content, technology, hardware and services for regulated gaming, betting, lottery, social and leisure operators across land-based and mobile channels around the world. Inspired's gaming, virtual sports, interactive and leisure products appeal to a wide variety of players, creating new opportunities for operators to grow their revenue. Inspired operates in approximately 35 jurisdictions worldwide, supplying gaming systems with associated terminals and content for approximately 50,000 gaming machines located in betting shops, pubs, gaming halls and other route operations; virtual sports products through more than 32,000 retail venues and various online websites; digital games for 170+ websites; and a variety of amusement entertainment solutions with a total installed base of more than 16,000 terminals. Additional information can be found at www.inseinc.com.
This news release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "anticipate," "believe," "expect," "estimate," "plan," "will," "would" and "project" and other similar expressions that indicate future events or trends or are not statements of historical matters. These statements are based on Inspired's management's current expectations and beliefs, as well as a number of assumptions concerning future events.
Forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside of Inspired's control and all of which could cause actual results to differ materially from the results discussed in the forward-looking statements. Accordingly, forward-looking statements should not be relied upon as representing Inspired's views as of any subsequent date and Inspired does not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as required by law. You are advised to review carefully the "Risk Factors" section of Inspired's annual report on Form 10-K for the fiscal year ended December 31, 2021, and subsequent quarterly reports on Form 10-Q, which are available, free of charge, on the U.S. Securities and Exchange Commission's website at www.sec.gov and on Inspired's website at www.inseinc.com.
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