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Inspired Updates COVID-19 Impact on its Business

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Inspired Entertainment has provided an update on the impact of COVID-19 on its global operations. The company has temporarily closed its physical locations following the governmental restrictions.

Due to this business disruption, the Company’s management and Board of Directors have implemented a range of actions to maintain financial flexibility and preserve liquidity.

“The exceptional team and capabilities we have built, as witnessed in our fourth quarter 2019 results, strongly position us to navigate this unprecedented environment. Alongside our concern for the well-being of our employees, our priority is to steadfastly strengthen our financial flexibility, prioritize investments, and reduce our expenditures in this time of uncertainty,” Lorne Weil, Executive Chairman of Inspired, said.

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Since the middle of March, the Company has drawn down approximately $24.9 million on its revolving credit facility to provide additional near-term liquidity and cancelled or delayed material capital expenditures. Most recently, the Company implemented furloughs, reduced work hours and reductions in compensation, as well as additional measures across its entire workforce. The effect of these actions is expected to lower the Company’s future cash payroll expense to less than $2.0 million per month.

The Board has determined to indefinitely delay the payment of accrued executive bonuses for the year ended 31 December 2019 and to waive cash payments of Board retainers that were due to be disbursed during the second quarter of 2019.

“We have taken these decisive actions, which we believe are appropriate for our current level of business, as we prepare our Company to withstand a potentially prolonged period of impaired revenue, including the loss of much of our retail revenue. At this point, we have limited visibility as to when our customers’ land-based locations may reopen. We believe our actions are appropriate steps to preserve our liquidity given the current environment. That said, we continue to undertake aggressive efforts to reduce our operating expenses on an interim basis and expect to report further as these steps are implemented,” Weil said.

“We have been fortunate that each of our Virtual Sports and Gaming businesses have had a substantial and growing presence in online/interactive, providing us an important cushion against the current cessation in our land-based business. Our customers have reported to us that they are experiencing significant demand from consumers in the US, Europe and Australasia to bring Virtual Sports onto their respective systems as rapidly as possible, given the lack of live sports content for wagering. We are doing our best to accommodate such demand at this difficult time,” Weil added.

“We continue to monitor developments on a real-time basis and are focused on responding to the needs of both our customers and our employees. Our hearts go out to all who have been impacted by this global pandemic. We’re looking forward to resuming normal operations as soon as conditions permit, as we seek to build upon our positive momentum from the fourth quarter,” Weil concluded.

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IGT Achieves Improved ESG Score from FTSE Russell

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International Game Technology PLC announced that it has achieved an environmental, social and governance (ESG) Score of 4.3 out of 5.0 from FTSE Russell, positioning IGT in the 97th percentile within the Travel and Leisure sector of FTSE Russell’s ESG Scores. This was an improvement from IGT’s previous ESG Score of 4.2 out of 5.0 in 2023, demonstrating its ongoing commitment to enhancing ESG performance.

“As a company committed to continually elevating our sustainability practices and leadership, IGT is proud to once again achieve an improved ESG score from FTSE Russell. Through our global Sustainable Play program, we execute sustainable practices and policies throughout our company and this improved score validates our ongoing efforts,” Wendy Montgomery, SVP of Marketing, Communications and Sustainability at IGT, said.

FTSE Russell’s ESG Scores and data model allows investors to understand a company’s exposure to, and management of, ESG issues in multiple dimensions. The ESG Scores are comprises an overall rating that breaks down into underlying pillar and theme exposures. Scores built on over 300 individual indicator assessments are applied to each company’s unique circumstances. The ESG Scores align with the UN Sustainable Development Goals (SDGs), all of which are reflected in FTSE Russell’s ESG framework.

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Super Group Appoints Merrick Wolman to its Board of Directors

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Super Group has appointed Merrick Wolman to its Board of Directors, effective from February 18, 2025.

Mr. Wolman is the Chief Executive Officer of a global finance company and has worked closely with the Super Group executive team for over two decades.

Neal Menashe, Chief Executive Officer of Super Group, said: “We are very pleased to welcome Merrick to the board. His deep understanding of the gaming industry, alongside his wide range of experience in executive roles, will be of great value as we continue to pursue our global growth strategy and build on our successes to date.”

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This appointment brings the total directors on Super Group’s board to nine, including five independent directors.

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Kindred Reports Decline in Revenue from High-risk Players for Q4 2024

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Kindred Group has reported decline in its share of revenue from high-risk players for the fourth quarter 2024 at 2.7% (Q3 2024 3.2%). The percentage of detected customers who exhibited improved behaviour after interventions showed an improvement at 92.2% (compared to 87.3% in Q3 2024). This positive trend is mainly the result of stricter measures across key markets, improved internal processes, as well as the exit from non-locally licensed markets as part of to the acquisition by La Française des Jeux (FDJ) in October 2024. This shift reflects Kindred’s broader commitment to maintaining high regulatory standards and fostering safer gambling practices.

“It is pleasing to see the decline in high-risk revenue during the fourth quarter of last year. We know that the share fluctuates between quarters, but the long-term trend is showing a steady decline. We remain dedicated and focused on improving our systems and processes to ensure we offer our customers a safe and fun experience,” Esther Scheepers, Head of Responsible Gambling at Kindred Group, said.

“The increased focus on responsible gambling by regulators and the industry is welcomed. From our end, we see that by combining our expertise with emerging technologies, we can further enhance detection capabilities. We are currently working on our existing detection system in combination with an additional system that will enable us to integrate more robust compliance features and optimize our overall approach to safer gambling. Furthermore, we are exploring opportunities to expand our research efforts, aiming to support data-driven discussions and looking at emerging trends in consumer protection. All these aspects are important to protect the integrity of the licence model and maintain a level playing field,” Esther Scheepers added.

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