Inspired Entertainment Notified Of Warranty Expiration

Inspired Entertainment Notified Of Warranty Expiration

On December 23, warrants issued to Inspired Entertainment, a B2B gaming content distributor, expired. Before expiration, an aggregate of 14,351,588 warrants to acquire the company’s common stock were exercised, resulting in the issuance of 3,679,015 shares (including 1,027,836 million shares issued in connection with cashless warrant exercises) and $30.5 million in proceeds to Inspired.

Warranty Expiration

The expiration of its warrants follows Inspired announcement just before Christmas of a framework agreement with Rush Street Interactive under which the online casino content provider will deliver interactive games to the US-based operator

Inspired’s interactive material will be integrated into the RSI game platform, and its titles will be made available in numerous North American jurisdictions, including New Jersey and Michigan, with West Virginia to follow shortly.

In addition, as part of the agreement, RSI will debut four Inspired titles, including Santa King Megaways, Christmas Cashpots, and Big Spin Bonus. Earlier this year, Okto announced a strategic deal with Inspired to extend its network of gaming machines in the UK leisure sector that accept the company’s app for mobile cashless payments.

Lorne Weil, executive chairman of Inspired, commented, “The $30.5 million in aggregate revenues from the exercise of our warrants demonstrates both the success Inspired has made as a company and the continued confidence of our investors in our business. We believe that the increased financial flexibility that these proceeds will provide us with in the future will position us effectively to accomplish our strategic objectives.”

About Inspired Entertainment

Inspired offers an expanding portfolio of content, technology, hardware, and services for regulated gaming, betting, lottery, social and leisure operators across land-based and mobile channels around the world. The Company’s gaming, virtual sports, interactive, and leisure products appeal to a wide variety of players, creating new opportunities for operators to grow their revenue. The Company operates in approximately 35 jurisdictions worldwide, supplying gaming systems with associated terminals and content for approximately 50,000 gaming machines located in betting shops, pubs, gaming halls, and other route operations; virtual sports products through more than 32,000 retail venues and various online websites; interactive games for 170+ websites; and a variety of amusement entertainment solutions with a total installed base of more than 16,000 terminals.

 

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About Lou De Aguila

Lou Ramon Aguila is a contributor for Golden Casino News. He has a degree in BSBA Legal Management with great interest in high-profile legal cases involving sports personalities. An ultimate sports junkie, he covers just about everything in the sporting world with an emphasis on the NBA, NFL, and MLB. In his past time, Lou loves to read manga, watch anime and critique pro-wrestling matches.