NEW YORK, Nov. 27, 2017 /PRNewswire/ — Inspired Entertainment, Inc. (“Inspired”) (NASDAQ: INSE) today announced that its Virtual Sports products have received approval from the New Jersey Division of Gaming Enforcement (DGE) and are now the first and only Virtual Sports products available in the State.
“We are extremely pleased with this key milestone for our business” said Inspired President and Chief Executive Officer Luke Alvarez. “We launched in Nevada late in 2016; we signed our first US lottery contract for Virtual Sports early in 2017; and in October at G2E we announced our new 1st Down Football product, which we expect to launch in 2018. Going live in New Jersey is a major next step in the expansion of our business into North America.”
“We are thrilled to have achieved this important step in our North American strategy,” said Inspired Executive Chairman Lorne Weil. Mr. Weil continued, “New Jersey will serve as an important showcase for our Virtual Sports products, as additional states seek to bring this exciting offering to market.”
“Virtual Sports betting is now available in New Jersey – online – and we’re delighted to be the first (and only) player in the industry to offer this in North America,” said Lucy Buckley, Inspired’s Vice President of Interactive. Ms. Buckley continued, “Our premium products have demonstrated an ability to drive incremental revenues for our customers globally, and we believe the launch of Virtual Sports will have an even greater impact in a market that does not offer wagering products for sports fans.” Ms. Buckley concluded, “Based on over a decade of experience, we are confident that Virtual Sports will appeal to both current casino players and a new audience that are not currently customers of New Jersey’s casinos. Furthermore, we believe Virtual Sports will be an essential acquisition tool and companion products for the potential addition of live sports betting in New Jersey and beyond.”
Five of Inspired’s award-winning Virtual Sports including Horses, Greyhounds, Soccer, Motor Racing and Speedway (Motorcycles) are now available for online and mobile distribution in New Jersey, with more sports expected to become available in 2018. Inspired’s partners in New Jersey include Caesars, Resorts, Golden Nugget, Rush Street, Bwin Borgata, Betfair, and Pala Interactive.
About Inspired Entertainment, Inc.
Inspired is a global games technology company, supplying Virtual Sports, Mobile Gaming and Server Based gaming systems with associated terminals and digital content to regulated lottery, betting and gaming operators around the world. Inspired currently operates more than 32,000 digital gaming terminals and supplies its Virtual Sports products in more than 35,000 venues and on over 100 websites in 30 countries. Inspired employs over 800 employees in the UK and elsewhere, developing and operating digital games and networks.
Additional information can be found at www.inseinc.com.
Forward Looking Statements
This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “anticipate”, “believe”, “expect”, “estimate”, “plan”, “outlook”, and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These statements are based on Inspired’s management’s current expectations and beliefs, as well as a number of assumptions concerning future events.
Such forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside of Inspired’s control that could cause actual results to differ materially from the results discussed in the forward-looking statements. Additional factors that could cause actual results to differ materially from those expressed or implied in forward-looking statements can be found in Inspired’s most recent annual report on Form 10-K and subsequently filed quarterly reports on Form 10-Q and current reports on Form 8-K, which are available, free of charge, at the SEC’s website at www.sec.gov.
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SOURCE Inspired Entertainment, Inc.