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Confident investment and a new client for gaming group
With a GBP15.3 million investment in its open server-based activities, Inspired Gaming Group plc faced the future in optimistic frame of mind this week. The company has not only received a substantial financial fillip from the international investment company FL Group, but has also announced a global agreement to supply its Open SBG technology to a high profile international gaming operator.
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The FL Group is a multifaceted business with interests in numerous sectors including financial services, airlines, bottling and brewery and retail, with multinational companies including Bang & Olufsen, AMR (the parent company of American Airlines), Glitnir, Refresco and Royal Unibrew in its portfolio.
The investment in Inspired Gaming has raised GBP15.3 million before expenses through a subscription for 6 371 667 new ordinary shares of 1p each (�Subscription Shares�) at 240.5 pence per Subscription Share by the FL Group, representing approximately 10 percent of the company�s existing issued ordinary share capital.
The proceeds of the subscription will give the group increased financial freedom to expand into the gaming sector, with the recent announcement of a 3 year exclusive supply contract with Betfred to provide Fixed Odds Betting Terminals, as an example of future business deals that can be expected from the company.
Luke Alvarez, co-CEO of Inspired Gaming Group, said: �We are delighted that FL Group has decided to invest in Inspired and that we have been successful in further extending the reach of our SBG platform. Whilst the new agreement will not have a significant impact on the financial result for the year ended 30 September 2007, both announcements provide a strong endorsement of our strategy. SBG incomes continue to grow strongly and the directors remain confident about the prospects of the company."
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