Inspired Entertainment Shares Fall as Brazil Prohibits Online Betting, Cutting Revenue Outlook
MT Newswires Live
Sep 30
Inspired Entertainment (INSE) shares fall 17% in Tuesday trading after the company said Brazil's prohibition of regulated online betting and gaming will reduce Q4 revenue by about $3 million if the shutdown remains in effect through the end of 2026.
Substantially all of the existing revenue contribution from Brazil will be affected for as long as the prohibition remains in place, the company said.
Inspired expects to update its full-year outlook when it reports Q3 results in early November.
Separately, BWS Financial downgraded Inspired stock to neutral from buy.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.