New funding package aimed at retiring old debt, supporting growth across Europe and North America
Inspired Entertainment has announced the successful completion of a private financing deal to issue £270 million ($363 million) in senior secured notes, due in 2030. The gaming technology and content provider also secured a new £17.8 million revolving credit facility, maturing in December 2029. The refinancing package is a significant step in reshaping the company’s financial foundation, providing added flexibility for growth and investment.
Debt Restructuring and Financial Flexibility
The new senior secured notes come with a variable interest rate tied to the Sterling Overnight Index Average (SONIA) benchmark, with a spread of 5.5% to 6%, and are set to mature on 9 June 2030. The revolving credit facility also carries a floating rate, ranging from SONIA plus 3.25% to 3.75%, maturing on 9 December 2029.
The primary goal of this refinancing initiative is to retire Inspired’s £235 million in 2026 notes, settle £15 million in existing loans, and cover associated refinancing fees. The remaining capital will be directed toward general corporate purposes, which may include future product development, market expansion, and operational enhancements.
Financial and legal advisory support was provided by Stifel and Davis Polk & Wardwell LLP, respectively, with institutions like Barclays Bank plc and HG Vora participating in the note purchases.
Performance Outlook: Mixed Results in Q1, Strength in Interactive Segment
Despite facing a 3% year-on-year revenue decline in Q1 2025 to $60.4 million, Inspired posted a notable 18% rise in adjusted EBITDA, driven largely by strong growth in its Interactive segment. The division posted a 49% revenue surge to $12.1 million, helping to offset downturns in virtual sports and other gaming verticals.
The Interactive segment’s performance has become a bright spot, underscoring consumer appetite for online and mobile gaming content. This momentum is seen as a key justification for Inspired’s refinancing strategy, which allows the company to double down on its high-performing areas while modernising its debt obligations.
Expansion Strategy Backed by Recent Partnerships
Earlier this year, Inspired made strategic moves to solidify its UK market position and deepen North American ties. These included a new roulette partnership with bet365, a five-year extension with Moto Hospitality, and fresh content distribution agreements with Caesars Entertainment and Ivy Casino.
With the new funding in place, Inspired is better equipped to launch new titles, invest in market-specific product innovations, and expand distribution through regulated channels across Europe and North America.
A Stronger Foundation for Growth
This refinancing not only improves Inspired Entertainment’s debt maturity profile but also positions the company to navigate evolving market conditions. By replacing near-term obligations with longer-dated, performance-linked financing, Inspired is showing financial prudence amid a broader strategy shift toward scalable and digital-first revenue channels.
With the resources now secured and a growing focus on interactive content, Inspired is poised to strengthen its presence across regulated markets while enhancing shareholder value.
