Inspired Gaming Group, a global supplier of server-based gaming (SBG), video lottery terminals (VLT) and virtual sports technology, has sold its UK-based amusement and leisure division to Playnation in a private equity-backed management buy out (MBO) deal.
Inspired will use the proceeds to invest in the expansion of its gaming technology business internationally, driven by the growth of government-sponsored networked gaming. Playnation, meanwhile, will be able to invest new capital in its leadership position in the UK high-volume, low-stakes amusement and leisure market. Playnation will be led by Adam Hodges, formerly managing director of Inspired’s Leisure division.
“This is an important further step in the evolution of Inspired Gaming Group into a pure play international gaming technology leader,” said Luke Alvarez, CEO and founder of Inspired. “It strengthens Inspired’s balance sheet and enables a sole focus on the fast-growing UK and international SBG / VLT / V-Sports markets. It allows Playnation to leverage its unique leadership position within UK high-volume, low-stakes entertainment to invest in and grow its business.”