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bet365 Extends Contract With Inspired Entertainment

Inspired will now give bet365 access to its newest goods, including its licenced games.

bet365 Extends Contract With Inspired Entertainment
bet365 Extends Contract With Inspired Entertainment

Inspired Entertainment has renewed its long-term agreement with bet365, a leading online bookmaker and a longtime partner of Inspired. 

According to the contract, Inspired will give bet365 access to its most recent products, including licenced games, giving bet365 the advantage of having the necessary resources for its Virtual Sports services. 

President and CEO of Inspired, Brooks Pierce, commented: "We are extremely pleased to continue our long-term partnership with bet365, the world B2C leader in Virtual Sports, offering up more than 30 channels of Inspired content around the world. They were the first operator to offer our Multi-Stream Matchday and Basketball products. 

"We're thrilled for them to be one of the first operators to take our latest licensed products to grow their popular Inspired Virtual Sports portfolio." 

Basketball, football, the first-ever women's football match, baseball, and other sports have been added to Inspired's Virtual Sports, which has seen considerable growth in North America over the past five years. 

Inspired Entertainment made $78.6 million in revenue for Q4 2022, a 17% increase from the prior quarter. The service provider noted increases of 42% in gaming, 36% in virtual sports, and 9% in engagement. 

The company saw functional currency growth rates of 34%, 61%, 56%, and 24% in these related business categories. Compared to a net loss of $1.2 million in the same period last year, Inspired had a net income of $3.1 million for the fourth quarter. 

Executive Chairman of Inspired, Lorne Weil, stated: "Our fourth quarter results ended a record year for Inspired, in which we achieved double-digit, year-over-year top and bottom-line growth and reached a record annual revenue and a milestone of $100m in adjusted EBITDA, even in the face of significant adverse currency movements."

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