Inspired Entertainment, Inc. (INSE)

Over the past six months, Inspired Entertainment's stock price has seen fluctuations, with a 52-week range between $6.51 and $11.61. In Q3 2025, Inspired Entertainment reported a revenue increase of 12% year-over-year, driven by record Interactive revenue, and an Adjusted EBITDA increase of 11%, although earnings lagged estimates. The company closed the sale of its UK Holiday Parks business to Genda Inc., aiming to reduce capital intensity and exposure to seasonal volatility. Inspired is streamlining operations, including workforce reduction and investing in a new game development framework. The company expanded its partnership with Rush Street Interactive to bring iGaming content to new markets. Analysts have maintained "Buy" recommendations for INSE, with an average price target of $16.33.

Demand seasonality for Inspired Entertainment's products and services can be observed in certain segments, particularly the Leisure segment, which experiences seasonally slower quarters. The divestiture of the UK Holiday Parks business was partly to reduce exposure to seasonal volatility. The company's focus on its Interactive and Virtual Sports segments may help mitigate some seasonality associated with land-based operations.

Inspired Entertainment, Inc. is a global B2B provider of gaming content, technology, hardware, and services for regulated gaming, betting, and lottery operators. The company operates in the Technology sector, primarily in Casinos and Gaming, or Software & Programming. Its core business involves developing Virtual Sports and Server-Based Gaming systems, along with associated terminals and digital content. The company operates through four segments: Gaming, Virtual Sports, Interactive, and Leisure. The Gaming segment supplies gaming terminals, software, and games to various betting and gaming establishments. The Virtual Sports segment designs and distributes ultra-high-definition sports games for retail and online platforms. The Interactive segment offers omnichannel slots, casino titles, and scratch cards for online and mobile players. The Leisure segment provides gaming terminals and amusement machines to the leisure and hospitality sectors.

Inspired Entertainment operates in approximately 35 jurisdictions globally, supplying gaming systems with terminals and content for around 75,000 gaming machines worldwide. Its Virtual Sports products are available in over 32,000 retail venues and various online websites, and it provides interactive games for more than 170 websites. A majority of its revenue is derived from the UK (73%), with Greece contributing 8% and the rest of the world accounting for 19%. The company has corporate offices in New York, NY, USA, and several offices in the UK, Italy and India. Recent expansions include bringing iGaming content to Mexico, Colombia, Peru, and the U.S. state of Delaware through a partnership with Rush Street Interactive.

Inspired Entertainment's brand reputation is tied to its financial performance, strategic growth initiatives, and product innovation. The company is recognized as a leading B2B provider in the gaming industry, known for its Virtual Sports and Interactive Gaming content. The Interactive segment's strong growth has positively contributed to the company's reputation. Product launches and innovation, such as the Hybrid Dealer® Roulette 4 Ball Extra Bet™ and the Vantage Slant™ cabinet, enhance its offerings. Strategic partnerships and market expansion reinforce its global presence. Operational streamlining reflects a strategic focus on its core, higher-growth digital businesses.

Inspired Entertainment's ownership is heavily dominated by institutional investors, who collectively hold a substantial portion of the company's shares, approximately 94.11%. Major institutional owners include Macquarie Group Ltd, Kanen Wealth Management LLC, Samjo Management, LLC, BlackRock, Inc., Janus Henderson Group Plc, Private Management Group Inc, 683 Capital Management, LLC and Brown Advisory Inc. Significant individual and insider owners include Hg Vora Capital Management LLC, Vitruvian Partners LLP, Evan Wainhouse Davis, Vip I B LP, and A. Lorne Weil.