Inspired Reports First Quarter 2021 Results
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th with social distancing; All UK restrictions expected to be lifted on June 21
st following COVID-19-related closures for the entirety of the first quarter 2021
Established Third Quarter 2021 Adjusted EBITDA Guidance of $28 million-$30 million
Liquidity position remains strong with cash of approximately $41.2 million and undrawn Revolver capacity of approximately $27.6 million
1
First Quarter Aggregate Online Revenue
2 increased 90%
First Quarter Net Loss of $16.7 million, including $3.1 million of VAT-related income
First Quarter Adjusted EBITDA
3 of $3.9 million, including $3.1 million of VAT-related income NEW YORK, May 10, 2021 Inspired Entertainment, Inc. ( Inspired ) (NASDAQ: INSE) today reported financial results for the three-month period ended March 31, 2021.
ABC 10/CW5
The state will allow an Upper Peninsula tribe to provide online sports gambling.
The Michigan Gaming Control Board approved a Lac Vieux Desert request to launch internet casino gaming yesterday.
“The benefit is obviously going to be more revenue coming into the tribal government and them doing whatever they want to do with it. It will also be more revenue for local government. The local government and the tribe share some of the profits,” Richard Kalm, Executive Director of the Michigan Gaming Control board said. “So it is going to be a revenue driver quite more than sports betting. The benefit of that is that the tribal government will make more money as a tribal entity and can do more things for their tribe.”
MGCB
Mich. Gaming Control Board authorizes Lac Vieux Desert tribe, PointsBet for internet casino gaming
Mich. Gaming Control Board authorizes Lac Vieux Desert tribe, PointsBet for internet casino gamingContact: Mary Kay Bean 313-456-1344
Detroit, May 4, 2021 - The Michigan Gaming Control Board has approved the Lac Vieux Desert tribe and its platform provider, PointsBet, to launch internet casino gaming at 10 a.m. Tuesday, May 4. The Upper Peninsula-based tribe previously received approval to launch online sports betting on Jan. 22. The Lac Vieux Desert tribe becomes the 12
th operator to offer both forms of online gaming after meeting all regulatory requirements, said Richard S. Kalm, executive director, Michigan Gaming Control Board. The associated revenue payments will support K-12 education, economic development and the local tribal governing body.
LANSING Online gambling and sports betting celebrated a big launch in late January.
The Michigan Gaming Control Board announced operators had collected $42.7 million in gross receipts in the first 10 days Michiganders were allowed to place bets from home.
The next month, calls to the Michigan Problem Gambling Helpline spiked. There were 563 gambling addiction calls placed to the helpline in February, more than five times the number of calls placed in February 2020.
That s huge growth, said Michelle Malkin,
a Ph.D. candidate studying problem gambling at Michigan State University s school of justice.
And online gambling is the likely culprit. Casinos are at limited capacity right now because of the pandemic, she said. The only thing that could really