Inspired seals long-term retail supply deal with Paddy Power16th December 2022 9:10 am GMT
New York-listed gaming supplier Inspired Entertainment has secured an exclusive long-term contract with Flutter Entertainment-owned bookmaker Paddy Power.
Inspired will provide Paddy Power’s 350 betting shops with fully integrated managed services across the entire UK estate of 1,400 terminals, including installation, remote and field technology support, as well as content and platform deployment.
The agreement will also see Paddy Power procure 1,400 of Inspired’s new Vantage server-based gaming cabinets during 2023.
“Paddy Power does an exceptional job operating its UK betting shop estate, which tends to contain premium locations, and we are thrilled to partner with such a premier provider,” said Inspired president and chief operating officer Brooks Pierce. “We have a great relationship with Paddy Power and this agreement, including the provision of our new Vantage terminal, improves their product offering and drives revenue growth, while also reducing operational costs.
“This is a prime example of how the transformation of our footprint in the UK from a hardware-centric capital-intensive business model to a managed services, content and platform, asset-light model can be mutually beneficial for the evolution of the industry.”
Paddy Power head of retail gaming Vince Bateson commented: “We have an excellent partnership with Inspired which has developed over many years. Our customers know and trust Inspired's product and we're delighted to be able to enhance our offering with the very latest terminal and the very best technology.
“Inspired's Vantage terminal has performed exceptionally well in our trials and is a perfect fit with our strategic goal of providing our customers with the best possible experience in our retail shops.”
Shares in Inspired Entertainment Inc (NASDAQ:INSE) closed 2.07 per cent lower at $12.29 per share in New York Thursday, while shares in Flutter Entertainment plc. (LSE:FLTR) were trading 1.34 per cent lower at 11,440.00 pence per share in London Friday morning.