Inspired Gaming reports improvements

Contrary to much of the rest of the gambling industry, Inspired Gaming has reported improvements in recent business trends and has refigured its projected cash flow forecast to its lenders.

The company has provided a 13-week projected cash flow forecast that showed improved liquidity over the previous forecast. It comes as a result of action taken in recent weeks to instill more financial flexibility for the business. The new projection shows an available cash balance of £25.7m at July 17. This is assuming that the pandemic lockdown continues until that date.

It had previously forecast a balance of £10.1m in March. Now the management is expecting an improvement in its monthly operating expenses of around £500,000 while the retail venues are closed.

Inspired reports an increasing demand in some areas of its business, including the successful recent staging of the Virtual Grand National horse race in the UK and the forthcoming Virtual Kentucky Derby in the US.

Inspired has increased the number of furloughs among its employees and with the addition of other cutbacks in expenses it is hoping for much better EBITDA levels this month.