Inspired Entertainment, Inc. (INSE) stock prices were up 14.50% shortly after the trading day commenced on May 26th, 2021, bringing the price per share up to USD$10.82.
Public Offering
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The company announced on May 26th that it had decided on the pricing of its previously announced underwritten public offering. INSE is set to offer up to 5,406,633 million shares of its common stock at a public price of USD$9.25 per share. Underwriters were also granted the option to purchase up to an addition 810,995 shares are the public offering price, minus underwriting discounts and commissions. The offering is expected to close on June 1st, 2021, pending customary closing conditions.
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English Economic Reopening
With the UK government having outlined a roadmap for the reopening of the economy, INSE is anticipating businesses to be open without restrictions by June 21st, 2021. As of April 12th of 2021, outdoor dining was the only option available for English pubs, while betting shops could only open with 50% machine capacity. Current forecasts anticipate the opening of pubs, betting shops, and holiday parks with social distancing regulations in place by May 17th, 2021.
European Economic Reopening
The company’s presence in Greece has seen the Greek Organisation of Football Prognostics (OPAP) reopen their betting shops on April 12th, 2021. The only service available at that time was Virtual Sports due to the restrictions imposed by the onset of the global pandemic. Despite a lack of public government guidance, INSE forecasts Greece and Italy to allow for businesses to reopen without restrictions by the third quarter of the fiscal year 2021.
Gradual Recovery
With the recent and gradual lifting of government-mandated regulations and restrictions due to the coronavirus pandemic, the company is encouraged by trends it has observed across the business as a result. Despite it only having been weeks since English betting shops opened again, as well as the restriction of being allowed only two out of four machines per shop, the company reported gross gaming revenue per operational machine that exceeded reports from December 2020, when the shops were operating under the same conditions.
Future Outlook for INSE
With the world hurtling towards global immunizations, INSE is poised to capitalize on a reopened economy without restrictions. The company is keen to facilitate further growth, armed with its solid liquidity position which it has bolstered throughout the month of May in 2021. Current and potential investors are hopeful that INSE will be able to facilitate the resources at its disposal to usher in significant and sustained increases in shareholder value.
