NEW YORK - Inspired Entertainment, Inc. (NASDAQ: INSE), a prominent supplier of gaming content and systems, has announced the extension of its contract with Parkdean Resorts, marking a continued partnership between the two entities. Under the new agreement, Inspired will maintain its role as a key provider of arcade games and entertainment products to Parkdean Resorts, the largest holiday park operator in the UK.
The contract extension not only reinforces Inspired's position in the leisure industry but also introduces its cashless arcade technology to Parkdean Resorts' venues. This addition aims to streamline the gaming experience for guests, allowing for easier access to a diverse range of entertainment options.
Peter Davies, Managing Director of Leisure at Inspired, emphasized the strength of the relationship between the companies, stating that the partnership is set to further enhance the holiday experiences for Parkdean Resorts' guests. David Morrison, Retail Director at Parkdean Resorts, echoed this sentiment, expressing delight at the ongoing collaboration and anticipation for introducing new and innovative games for their guests.
Inspired operates across approximately 35 jurisdictions globally, providing gaming systems and content to around 50,000 gaming machines, as well as virtual sports products and various leisure solutions. Parkdean Resorts, on the other hand, hosts over 3 million holidaymakers annually across its 66-holiday parks.
This news is based on a press release statement and contains forward-looking statements.
InvestingPro Insights
In the wake of the recent contract extension with Parkdean Resorts, investors and stakeholders in Inspired Entertainment, Inc. (NASDAQ: INSE) may find the following InvestingPro Insights particularly illuminating. With a market capitalization of $241.21 million and a robust gross profit margin of 60.46% in the last twelve months as of Q3 2023, Inspired Entertainment stands out for its financial health and profitability in the leisure and entertainment sector.
Two notable InvestingPro Tips highlight the company's strong fiscal position: Inspired boasts impressive gross profit margins and has liquid assets that exceed its short-term obligations. These factors are indicative of the company's financial stability and ability to invest in new technologies, such as the cashless arcade technology being introduced to Parkdean Resorts' venues. Moreover, analysts predict that Inspired will remain profitable this year, a sentiment supported by the company's profitability over the last twelve months.
InvestingPro Data further underscores the company's growth potential with a revenue increase of 18.41% in the last twelve months as of Q3 2023. Additionally, the company's operating income margin was 13.47% for the same period, reflecting efficient management and a strong return on its operations. It's also noteworthy that while Inspired does not pay a dividend, this could be a strategic reinvestment of earnings back into the company's growth initiatives.
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