Inspired Entertainment Inc (NASDAQ: INSE) is a gaming technology company that supplies gaming terminals, virtual sports products, interactive content, and amusement machines to regulated betting and gaming operators across multiple jurisdictions. Revenue comes from a mix of recurring content and software licensing fees, server-based gaming service arrangements, and terminal supply contracts across four segments: Gaming, Virtual Sports, Interactive, and Leisure. As of December 31, 2025, the company's games or game assets were deployed on approximately 50,000 terminals, with its SBG technology available on approximately 38,000 terminals. The customer base spans licensed betting offices, casinos, bingo halls, online operators, lotteries, pubs, and adult gaming centers. Key named customers include William Hill, Betfred, Paddy Power, DraftKings, FanDuel, Entain, bet365, OPAP, and the Pennsylvania Lottery (per the FY2025 10-K filed 2026-03-10). The UK accounted for 69% of revenue for the year ended December 31, 2025, with the remainder from Greece, North America, and the rest of the world. Executive Chairman and principal executive officer is Lorne Weil; Brooks H. Pierce serves as President and CEO.

Revenue model

Recurring fees from server-based gaming content licenses and software service arrangements, terminal supply and outright purchase contracts, B2B virtual sports licensing, and interactive content distribution across operator networks. The company charges operators for content deployed on its distributed SBG platform and licenses virtual sports products including its VPP (Virtuals Plug and Play) sportsbook-in-a-box offering.

Products and services

Gaming segment: server-based gaming terminals and content for LBOs, casinos, and AGCs; SBG platform; slots titles including Gold Cash Free Spins, Golden Winner, Cops n Robbers Big Money, Big Piggy Bank, and Wolf it Up. Virtual Sports segment: virtual sports markets and results software, VPP (Virtuals Plug and Play) product range, remote gaming server (RGS). Interactive segment: online gaming content distributed across operator networks. Leisure segment: gaming terminals and amusement machines supplied to pubs, bingo halls, and adult gaming centers; as of December 31, 2025, over 5,800 gaming terminals operated in those venues plus approximately 2,800 terminals under maintenance-only contracts.

Customers and end markets

B2B customers in regulated gaming markets: licensed betting office operators, casinos, gaming and bingo hall operators, online gaming platforms, lotteries, pubs, motorway service areas, and adult gaming centers. Named customers include William Hill, SNAI, Sisal, Betfred, Paddy Power, Betfair, Jenningsbet, Corbett Bookmakers, Genting, bet365, Sky Bet, OPAP, Entain, DraftKings, FanDuel, the Pennsylvania Lottery, AGLC, WCLC, Moto, Welcome Break, Buzz Bingo, Mecca Bingo, JD Wetherspoon, Merkur Slots, and Luxury Leisure (per FY2025 10-K).

Value-chain role

B2B technology and content supplier sitting between game developers and regulated gaming operators. The company develops proprietary content and software, manufactures or sources terminals, holds regulatory licenses and certifications, and delivers content via remote server-based networks. It holds approximately 25 patents or pending patent applications and approximately 390 trademarks worldwide as of December 31, 2025.

Geographic exposure

UK accounted for 69% of revenue for the year ended December 31, 2025. Remaining revenue from Greece, North America, and rest of world. Italy and Greece have historically contributed significant recurring revenue alongside the UK. North American operations in regulated states and provinces have grown since 2021. Office space as of December 31, 2025: approximately 158,000 square feet in the UK, 3,200 square feet in New York, and 22,000 square feet in Kochi, India.

Source: SEC 10-K, filed 2026-03-10

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