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.
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.
FanDuel Casino Announces Updated Marketing Campaign and Continued Game Enhancement
FanDuel Casino announced the second installment of its “Winning is Undefeated” ad campaign across TV, social, and contextual OOH. FanDuel Casino is also premiering a new exclusive game, Fort Knox Cleopatra. The base game, IGT’s Cleopatra, is one of the casino industry’s most recognizable slot titles and ranks among FanDuel Casino’s top performers. IGT PlayDigital’s Fort Knox Cleopatra will soon be available exclusively on FanDuel Casino.
The new creative campaign, developed in partnership with agency Mischief @ No Fixed Address, ranks the amazing feelings of life’s tiny wins while reminding us that the ultimate feeling is winning, with FanDuel Casino. The new spots will air in key FanDuel Casino markets including New Jersey, Pennsylvania, and Michigan. To help offer players more ways to win, new FanDuel Casino customers will get 50 bonus spins when signing up and making their first deposit. FanDuel Casino’s Free-to-Play Reward Machine will give players the chance to bring home the #1 feeling…winning.
“At FanDuel Casino we are all about celebrating that unmatched feeling of victory. Our latest campaign doubles down on how the feeling of winning outranks all else from successfully avoiding your neighbor to catching your car keys in one hand. With our daily free-to-play game Reward Machine and our newly launched welcome offer – 50 bonus spins – our players have more chances than ever to experience that feeling of winning for themselves,” Daniele Phillips, Vice President of Brand Strategy at FanDuel Casino, said.
“Researchers have identified 34,000 unique feelings. But any list needs a #1. So everyone got in touch with our deepest emotions, then we ranked them. These findings were the basis of the campaign. You can argue with our faux-scientific order, but you can’t argue with the fact that winning is the best feeling there is,” Pete Lefebvre, Creative Director at Mischief @ No Fixed Address, said.
Along with the campaign, FanDuel Casino will be the exclusive home of the Fort Knox Cleopatra game. Fort Knox Cleopatra adds a new progressive jackpot mechanic that triggers bigger prizes to the existing classic game features. The game offers players multiple ways to win, via The Cleopatra Bonus and the new Fort Knox Bonus. Players can trigger the Cleopatra Bonus by collecting three Sphinx Scatter symbols, offering them 15 free spins where all wins are tripled. The Fort Knox Bonus, which can trigger randomly on any base game spin, features open safes full of cash and coins that can unlock a progressive jackpot win.
“Offering our players the ultimate choice of games is a top priority for us, and bringing IGT PlayDigital’s Fort Knox Cleopatra to FanDuel Casino helps us continue to provide the best iGaming product experience on the market. As we continue to introduce new players to FanDuel Casino, we are excited to bring a game users know and love with a new spin and more prizes, an ideal combination to engage all players,” Asaf Noifeld, Managing Director at FanDuel Casino, said.
“We’re thrilled to bring one of IGT PlayDigital’s most popular games exclusively to FanDuel Casino with the new Fort Knox Cleopatra, featuring graphics and sound effects we know users will love. As FanDuel Casino continues to grow, we look forward to bringing Fort Knox Cleopatra to new and existing players,” Gil Rotem, IGT President of iGaming, said.
Holland Casino Identifies New Groningen Casino Site
Holland Casino has chosen Business Park Ter Borch as the new location for its Groningen casino. Holland Casino selected the location at the gateway to Groningen for its accessibility and construction opportunities. Business park Ter Borch, on the edge of the municipality of Tynaarlo, offers Holland Casino the best opportunities to build a casino that meets the company’s architectural and sustainability requirements. Moreover, the location at the gateway to Groningen is easily accessible for guests and there is ample parking.
CEO Petra de Ruiter said: “We are happy that the decision has now been made. If the Tynaarlo municipal council is as enthusiastic as the board of Holland Casino, we can enter the period of planning and construction. I’m looking forward to that and especially to the moment when the new Holland Casino Groningen is open. That is not only good news for our guests, but also for our employees.
“They will soon be able to optimally welcome guests from a new building and offer the hospitality that can be expected from us.”
Spatial planning councilor Jurryt Vellinga of the municipality of Tynaarlo said: “The location makes sense because of the good accessibility and the space that the business park offers. For us it is a sign that the municipality of Tynaarlo and the region are still popular for companies. This location offers employment opportunities and is a great boost for tourism in our municipality.”
Attention has also been paid to the former Holland Casino location on Gedempte Kattendiep in Groningen. The casino was destroyed in a fire in 2017, with Holland Casino operating a temporary facility since 2018.
“Holland Casino offers the municipality of Groningen every cooperation to ensure that something beautiful comes back to the city center. We are grateful to everyone involved for all the cooperation and support we have received in recent years. We are very grateful to Groningen and Tynaarlo for the efforts made to find a suitable location,” Ms. de Ruiter said.
The new branch of Holland Casino, Holland Casino Groningen, is expected to open in 2027.
Maria’s Room Rebrands into Maria Ozawa Casino, Marking Third Year Anniversary Partnership with M88 Mansion
Renowned international celebrity and businesswoman, Maria Ozawa, is commemorating a significant milestone in her partnership with Asia’s leading online gaming platform, M88 Mansion, as she celebrates her third year as Celebrity Partner.
A highlight of this celebration is the transformation of “Maria’s Room” into “Maria Ozawa Casino,” showcasing her growing influence within the M88 Mansion community and promising an enhanced and thrilling gaming experience for players, with Maria’s personal touch. The rebranding reflects Maria’s lasting impact and the exciting evolution of this partnership over the past three years.
Alan Wafer, Head of Commercial at M88 Mansion, said: “Maria Ozawa has been an integral part of the M88 Mansion family for three incredible years.”
Maria Ozawa said: “Being a part of M88 Mansion has been an amazing experience. I’m thrilled to see Maria Ozawa Casino succeed, as we offer players an enhanced gaming experience. It’s been a fantastic three years, and I can’t wait to see what the future holds.”
In line with her ongoing collaboration with M88 Mansion, Maria Ozawa will participate in the upcoming M88 Mansion-sponsored event, IT’S THE SHIP, Asia’s Largest Festival at Sea, from November 1-3, 2023, enhancing the event with her star presence.
Beyond the virtual realm, Maria Ozawa’s role as a Celebrity Partner extends to a tour across several countries, accompanied by press conferences, allowing the public and media to connect with her.
Maria Ozawa’s three-year journey with M88 Mansion has seen exceptional growth and collaboration. With the transformation of Maria’s Room into Maria Ozawa Casino and her engagement with players, the future of this partnership looks promising.
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