NEW YORK, Jan. 27, 2021 /PRNewswire/ -- Inspired Entertainment, Inc. ("Inspired") (NASDAQ: INSE) announced today it has entered into a new agreement with SNAITECH in Italy to provide Virtual Sports both online and in retail venues. SNAITECH, a subsidiary of Playtech (LSE: PTEC), offers sport and horse race betting, virtual sports, video lottery, slots, both online and mobile, esports and pari-mutuel with a retail betting network comprised of over 1,500 points of sale located throughout Italy. This new contract expands the scale and scope of the Company's relationship and includes the launch of Virtual Sports on SNAITECH's sports betting app and an additional seven Virtuals products in 2021, including Matchday Ultra™, Penalties™ and Marble Racing™.
"Inspired and SNAITECH have been collaborating closely for the past seven years through a successful partnership which has made Inspired the largest Virtual Sports supplier in Italy since the initial launch in 2013," said Brooks Pierce, President and COO of Inspired. "This contract defines new terms and expands the game library for players to enjoy, which should optimize performance."
"2020 has been a tough year for retail revenues across the board but the launch of Virtuals on SNAITECH's sports betting app in 2020 has multiplied the Virtuals revenues on the online channel by five times," comments Fabio Schiavolin, CEO at Snaitech. "We are very pleased with this performance and excited to boast the largest suite of new games ever released since the original launch."
Inspired's award-winning Virtual Sports are popular worldwide, appealing to a wide variety of players through more than 40,000 retail channels and 100+ websites in 35 countries. Trailers and demos of the latest Virtual Sports offerings are available at www.inseinc.com/virtuals/.
About Inspired Entertainment, Inc.
Inspired offers an expanding portfolio of content, technology, hardware and services for regulated gaming, betting, lottery, social and leisure operators across retail 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 more than 50,000 gaming machines located in betting shops, pubs, gaming halls and other route operations; virtual sports products through more than 44,000 retail channels; digital games for 100+ websites; and a variety of amusement entertainment solutions with a total installed base of more than 19,000 devices. Additional information can be found at www.inseinc.com.
Forward Looking Statements
This news release may contain "forward-looking statements" within the meaning of the "safe harbor" provisions of the U.S. 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," "will," "would" and "project" and other similar expressions that indicate future events or trends or 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.
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 and all of which could cause actual results to differ materially from the results discussed in the forward-looking statements. Accordingly, forward-looking statements should not be relied upon as representing Inspired's views as of any subsequent date, and Inspired does not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as required by law. You are advised to review carefully the "Risk Factors" section of Inspired's annual report on Form 10-K for the fiscal year ended December 31, 2019 and in Inspired's subsequent quarterly reports on Form 10-Q, which are available, free of charge, on the U.S. Securities and Exchange Commission's website at www.sec.gov.
SNAITECH is one of the leading concessionaries in Italy in the gaming and betting sectors. Founded through the integration between Snai Spa and the Cogetech group companies in late 2015. From this integration, with a fundamental strategical value both from a financial and business point of view, a new reality was born, thanks to the expertise, the resources and the dimensions required to compete in Italy and around the world at maximum levels.
It is one of the most important concessionaries for the management of the authorized games in Italy. Thanks to its multichannel technology offers sport and horse racing betting, virtual sports, videolottery, new slot, both online and mobile (poker, skill games, casino games, bingo), esports and pari-mutuel, through its point of sales network and online.