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NEW YORK - Inspired Entertainment, Inc. (NASDAQ:INSE) announced Monday the launch of its iGaming portfolio in West Virginia, expanding its North American presence. According to InvestingPro data, the company maintains impressive gross profit margins of 70% and shows good overall financial health, suggesting strong operational efficiency as it enters this new market.
The B2B gaming content provider has introduced several of its slot games to the West Virginia market, including titles such as Big Piggy Bank and Wolf It Up. The latter set performance records when launched in other markets, according to the company’s press release statement. With annual revenue of $300.8 million and trading at an attractive P/E ratio of 3.74, InvestingPro analysis suggests the stock is currently undervalued, presenting potential opportunities for investors interested in the gaming sector.
"Our entry into the West Virginia market underscores Inspired’s commitment to delivering top-tier gaming experiences to a broader audience," said Brooks Pierce, President and CEO of Inspired.
The company currently operates in approximately 35 jurisdictions worldwide, supplying gaming systems with terminals and content for around 74,000 gaming machines in betting shops, pubs, and gaming halls. Inspired also provides virtual sports products through more than 32,000 retail venues and digital games for approximately 515 websites. For detailed insights into INSE’s market position and growth potential, investors can access comprehensive analysis through InvestingPro’s exclusive research reports, which cover over 1,400 US stocks.
This expansion represents another step in the company’s growth strategy within the regulated U.S. gaming market. The West Virginia launch adds to Inspired’s interactive content offerings already available in multiple markets globally.
The company stated its approach to the West Virginia market includes a focus on responsible gaming practices while delivering entertainment options to players in the state.
In other recent news, Inspired Entertainment, Inc. has announced the sale of its UK holiday parks business to GENDA Inc. for approximately £18.6 million ($25.1 million) in cash. This transaction includes the management of over 11,000 amusement and gaming machines across around 170 family entertainment centers and adult gaming centers in UK holiday parks. Additionally, Inspired Entertainment has partnered with Gaming Arts LLC to bring its popular online slot titles to land-based markets across North and South America. The collaboration aims to adapt these successful online games for physical casinos and gaming venues. In another development, Inspired Entertainment has launched V-Play Football Brazil with EstrelaBet, offering virtual sports betting tailored for the Brazilian market. JMP Securities has reiterated its Market Outperform rating and $12.00 price target for Inspired Entertainment, citing the company’s progress towards its EBITDA margin goals. The firm highlighted Inspired’s focus on restructuring and the sale of its low-margin UK business as steps towards achieving margins exceeding 40%.
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