Inspired Entertainment (NASDAQ: INSE) reported Q1 EPS of ($0.74), $0.42 better than the analyst estimate of ($1.16). Revenue for the quarter came in at $22.8 million versus the consensus estimate of $20.02 million.

"We continue to be encouraged by the trends we are seeing across our business with the recent easing of COVID restrictions," said Lorne Weil, Executive Chairman of Inspired. "While it has only been a couple of weeks since English betting shops reopened and we are restricted to two out of four machines per shop, our gross gaming revenue per operational machine in betting shops has performed above December 2020 levels when they were operating under the same conditions. In addition, we understand bookings for the UK holiday park business are at record levels and outdoor sales in UK pubs have been robust since reopening."

Weil continued, "North America continues to be a key focus of our growth strategy and our footprint there continues to expand notwithstanding COVID. We placed our first Valor™ terminals with Western Canada Lottery Corporation ("WCLC") in March 2021 and to-date they have performed well above estate average. This stellar performance mirrors what we have seen in Illinois, where Valor™ continues to gain popularity. Our Interactive business has continued its outstanding momentum into the second quarter where our entry into Michigan demonstrates the further progress we have made in our strategic expansion into new markets. We believe we are well positioned to bring our products to customers in the US iGaming market with an impressive roadmap of game launches and high-profile partners already in place."

"We have weathered the COVID-19 period to date and see the light at the end of the tunnel," said Stewart Baker, Executive Vice President and Chief Financial Officer of Inspired. "We have effectively managed our liquidity position to be well prepared for our land-based businesses to return with a more streamlined operating structure and improved overall cost structure. We believe we are well positioned to execute on our strategic plan to deliver profitable growth, increase cash flows and maximize shareholder value."

For earnings history and earnings-related data on Inspired Entertainment (INSE) click here.