Inspired Entertainment has posted a 2% year-over-year increase in revenue for 2024, buoyed by a major uptick in its Interactive gaming segment. Annual revenue reached $297.1 million, while fourth-quarter figures edged up to $83 million, from $81.2 million a year earlier.
But it wasn’t the overall lift that grabbed attention — it was where it came from. The company’s Interactive arm did the heavy lifting, and its growth wasn’t subtle.
Digital games are doing the talking
The real standout in Inspired’s latest results is the Interactive segment, which saw its fourth-quarter revenue spike by 45% compared to the same period last year. That jump took it from $8 million in Q4 2023 to $11.6 million in Q4 2024.
It didn’t stop there. Over the full year, Interactive revenue rose 40%, coming in at $39.3 million. This marks a sharp contrast to more modest gains across other areas of the business.
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According to Lorne Weil, Executive Chairman, “We are pleased to report another quarter of robust performance in our Interactive segment, with revenue growing 45% year-over-year and Adjusted EBITDA more than doubling.” That’s not exactly a muted statement — and it doesn’t need to be. When digital is surging like this, you shout about it.
Global appetite and Hybrid Dealer expansion lead the charge
Much of the digital boost came from international markets. The UK, North America, and continental Europe all played a part in pushing the numbers up.
Some of the driving forces behind that rise:
- Wider uptake of Inspired’s Hybrid Dealer games
- Regulatory growth in new markets
- Tech partnerships with established gaming operators
Hybrid Dealer, in particular, is proving to be a strong card in the company’s hand. It’s a format that blends live-dealer-style content with automation — cutting costs without killing the immersive experience. And players, it seems, are biting.
Interestingly, Inspired hinted that its expansion of this product line has only just begun. More variations are expected in 2025.
Breaking down the full-year numbers
A closer look at the numbers shows how each segment is holding up. While Interactive had a bumper year, the rest of the company’s divisions were relatively flat.
Here’s a quick snapshot of 2024 performance:
| Segment | Full-Year Revenue | Change YoY |
|---|---|---|
| Interactive | $39.3M | +40% |
| Gaming | $129.8M | +1% |
| Virtual Sports | $108.5M | +1% |
| Leisure | $19.5M | -3% |
| Total | $297.1M | +2% |
The flat growth in Gaming and Virtual Sports suggests that while those areas remain strong, the real momentum — and perhaps future investment — is likely to stay focused on digital offerings.
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Leisure, meanwhile, saw a small drop. It’s a segment tied more closely to physical venues and seasonal footfall, so it’s unsurprising to see a little wobble there, especially against a backdrop of broader digital adoption.
Profit margins tell a deeper story
Revenue is only half the picture. Inspired’s growth in Adjusted EBITDA — particularly within the Interactive segment — points to improving profitability, not just raw sales.
Lorne Weil said the Interactive division’s EBITDA more than doubled, though exact figures weren’t provided. That kind of jump hints at leaner operations, better margins, and more bang for every buck invested.
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The higher margins in Interactive gaming can be attributed to its low operating costs and strong repeat usage. Once the tech is in place, each new user adds disproportionately to the bottom line.
Weil didn’t elaborate much on whether this growth is expected to continue into 2025, but the trajectory certainly looks promising.
What’s next for Inspired?
For now, Inspired seems focused on consolidating its digital gains. There was no major announcement of acquisitions or massive pivots — just steady expansion of existing product lines and markets.
But reading between the lines, 2025 could be the year the company places even bigger bets on online gaming.
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The industry trend is clear — land-based gaming may be steady, but digital is where the fireworks are happening.
Inspired may well be planning to widen its digital funnel even further, especially if Hybrid Dealer continues to find new fans.
If 2024 was the warm-up, 2025 could be where things really heat up.
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