bet365 and Inspired Entertainment Renew Long-term Agreement

Leading online bookmaker bet365 has extended its long-standing partnership with Inspired Entertainment, a provider of gaming technology.

The new contract ensures that bet365 will gain access to Inspired’s latest offerings, including licenced games. This will equip bet365 with the required resources for its Virtual Sports services.

Brooks Pierce, President and CEO of Inspired, expressed satisfaction with the ongoing partnership with bet365. He highlighted bet365’s leading role in Virtual Sports, with more than 30 channels of Inspired content available globally. Pierce noted that bet365 was the first operator to offer Inspired’s Multi-Stream Matchday and Basketball products.

He further shared his excitement about bet365 being among the initial operators to adopt their newly licensed products to expand their Inspired Virtual Sports portfolio.

Inspired’s Virtual Sports has experienced significant growth in North America over the past five years. It has incorporated basketball, football, the inaugural women’s football match, baseball, and other sports.

Inspired Entertainment reported a revenue of $78.6 million for Q4 2022, marking a 17% rise from the previous quarter. The company observed increases of 42% in gaming, 36% in virtual sports, and 9% in engagement.

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

Lorne Weil, Executive Chairman of Inspired, acknowledged the fourth quarter results as the conclusion of a record year for the company. He highlighted the achieved double-digit, year-over-year top and bottom-line growth, the record annual revenue, and the milestone of $100m in adjusted EBITDA.