Inspired Entertainment has published its unaudited results for the three-month period and fiscal year ended December 31, 2021, highlighting its $14.5m acquisition of Sportech Lotteries.
The lottery and gaming provider has reported a “robust recovery” in its gaming and leisure revenues, which amounted to $26.8m and $23.5m respectively in Q4, following the reopening of retail venues post-COVID lockdowns.This resulted in year-on-year increases of 49% (gaming) and 183% (leisure).
Inspired reported revenues of $67m in Q4, a fall from $71.7m in the previous year.
Lorne Weil, Executive Chairman of Inspired, commented: “We are pleased with our fourth quarter results, as we were able to achieve double-digit, year-over-year top and bottom-line growth across our business units, on an organic basis when excluding the impact of VAT-related revenue and income from 2020.
“Our results this past year are evidence of our ability to drive sustainable, long-term growth and profitability. The consistent momentum we saw building throughout 2021 and the strong demand that continues to exist for our products across each of our business lines, including the industry outlooks for land-based gaming coming out of COVID-19 and sustainable online growth trends, further support our confidence in the long-term outlook for the company.”
The announcement highlighted Inspired’s December 31 acquisition of Sportech, which provides online and retail lottery services to Loteria Electronica Internacional Dominicana S.A. (LEIDSA) of the Dominican Republic. In addition, the contract includes the upcoming launch of Sportech’s ilottery solution.
The business operates more than 2,100 land-based outlets as well as software and field service support and is expected to launch digital lottery sales during 2022.
Inspired also secured a 10-year extension to the LEIDSA contract, which now is in effect until March 2035.
“We have a clear pathway for growth, and we continue to make progress in our North American strategic initiatives to lay the groundwork for future growth opportunities,” added Weil.
“At the end of fourth quarter of 2021, we acquired Sportech Lotteries, which provides us with a footprint for North American lotteries, bolsters our positioning in the growing ilottery market and enhances our ability to offer a platform with a full turnkey lottery/igaming solution to our customers.
“In addition, subsequent to the end of the fourth quarter of 2021, we launched our interactive games in Connecticut, our third U.S. igaming market, and received an igaming licence in Ontario with plans to go live early in the second quarter. We believe we are still in the early innings in North America and we are excited about our prospects for the year ahead and beyond. We remain confident in our positioning within each of our addressable markets and the significant growth opportunities ahead of us.”