Inspired to ramp up online business in 20219th February 2021 8:44 am GMT
New York-listed gaming supplier Inspired Entertainment has reported a significant increase in revenue from its online businesses during 2020, with most of the growth derived from its existing customer base in Europe.
Revenue from online casino and virtual sports rose from £1.2m in January 2020 to £3.1m in December 2020, reflecting an increase in the volume of its proprietary content, strong account management and the launch of its Virtual Plug & Play (VPP) platform.
Over the course of 2020, Inspired's peak level of casino game play increased from 8,000 plays per minute to over 22,000 plays per minute, with this growth expected to continue this year after launches with over 50 new online customers in the UK, New Jersey, Canada, Greece, Mexico, Germany, Belgium, Turkey, Italy and Sweden.
“We are very pleased to see our Online business continue its impressive revenue growth trajectory,” said Inspired executive chairman Lorne Weil. “Online gaming is a multi-billion dollar, high-growth segment and we believe we have barely scratched the surface with our casino and virtual sports products.
“With the growing popularity of our content, increased brand awareness and rapid speed to market, we are confident we are well-positioned to capitalize on this opportunity. Going forward, we expect the online operations to make up a larger part of our business and we are excited for the future as we seek to grow further through jurisdictional expansion, new commercial agreements and product development."
The supplier rolled out 31 new online slot games during the year, compared to just 20 in the previous year, with plans to develop a further 40 games in 2021. These will include custom-built titles for the North American and Greek markets.
Shares in Inspired Entertainment Inc. (NSQ:INSE) closed 11.65 per cent higher at $7.38 per share in New York Monday.