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Inspired And Cristaltec To Transform Strategic Partnership In Italy
Monday, 20 December 2021
Inspired Entertainment, Inc. (“Inspired”) (NASDAQ: INSE), a leading B2B provider of gaming content, systems and solutions, and Cristaltec S.p.A. (“Cristaltec”), a leader in design, production and distribution of games and devices for the amusement with prize (“AWP”) sector in Italy, announced today that they have signed a new agreement to transform their strategic partnership in Italy.
As part of this agreement, Cristaltec will purchase Inspired’s video lottery terminal (“VLT”) estate and take over Inspired’s VLT managed services contracts. Inspired will transition to a platform and games provider, where they will remain responsible for the maintenance, support and updates of the Italian VLT platform and infrastructure as well as game content.
“We are thrilled to work with Cristaltec to better serve our customers by facilitating more investment in the Inspired product range and delivering superior products and content to the marketplace,” said Brooks Pierce, President and Chief Operating Officer of Inspired. “We have worked with Giovanni and the team at Cristaltec for many years and greatly respect the business they’ve built in the AWP market, where they have an excellent reputation with the Concessionaires. Working together with Cristaltec, we believe we can better capture the new opportunities that will derive from changes to regulations as well as the evolution of the gaming sector in Italy, where we remain a very committed market participant, including through our continued presence in Virtual Sports.”
Cristaltec is a long-standing machine and games provider in the AWP market in Italy. This agreement with Inspired better positions Cristaltec within the VLT market, where Inspired is contracted with multiple concessions operating over 5,000 terminals. Cristaltec will take over Inspired’s managed service responsibilities including Italian operational support and machine capital obligations. Cristaltec intends to materially upgrade Inspired’s current estate of terminals and insert their own games alongside those of Inspired. The upgrade is expected to drive revenue growth and reduction in operational cost.
“All of our work is aimed at improving the services offered to our customers and we believe this agreement not only benefits both companies, but also our customers and the Italian market as a whole,” said Giovanni Agliata, President of Cristaltec. “We have a great relationship with Inspired and this collaboration allows each of us to focus on our core competencies. We are a leading manufacturer with top games in the AWP market and Inspired provides a proven VLT platform with popular game franchises worldwide. Together we are able to greatly improve the product offering, making the whole greater than the sum of its part, which positions both companies well for the evolution of the Italian market.”