Inspired Entertainment posts Q3 2026 results with record adjusted EBITDA margin

Inspired Entertainment published its fiscal third-quarter 2026 results for the period ended 30 September, reporting total revenue of US$61.4 million, below analyst consensus of US$64.52 million. The figure represented a 29% decline versus US$86.2 million in the prior-year period, an effect magnified by the November 2025 sale of its UK holiday park business.

Comparable performance and margins

Excluding the UK holiday parks division and the pubs restructuring, like‑for‑like revenue rose 4% year‑on‑year. Group adjusted EBITDA was US$28.2 million, down 13% from US$32.3 million a year earlier, but with a milestone: a record adjusted EBITDA margin of 46%. Adjusted net income was US$2.8 million, a 66% fall from US$8.2 million in the prior‑year quarter.

Management commentary and divisional trends

Brooks Pierce, President and CEO of Inspired Entertainment, said:

"Our third‑quarter results underscore progress in building a more digital, higher‑margin business, with record adjusted EBITDA margins and market share gains in Interactive." — Brooks Pierce

Pierce said retail solutions had another solid quarter in both the UK and Greece and flagged opportunities to renew installed hardware in Greece next year. In the Interactive division, revenue grew 3% year‑on‑year, with volume growth in the UK offsetting higher gaming taxes, while the business in the United States outperformed the wider igaming market in that country. See more on the company’s [b2b strategy](/b2b).

Taxation and regulatory outlook

On UK fiscal policy Pierce said:

"The UK Budget removes a lot of uncertainty and gives us and our customers a clearer base to invest and plan." — Brooks Pierce

He added that the increase in machine games duty from 20% to 25%, effective from April 2027, is disappointing but manageable, and that the company will pursue disciplined mitigation measures to limit the impact. Executive Chairman Lorne Weil said the transformation of Inspired has created a less capital‑intensive business with lower concentration in the UK and multiple growth avenues; he pointed to a pipeline of opportunities that he expects will mitigate current regulatory headwinds. For regulatory context see [/regulation].

Operational summary and market

The company attributes the year‑on‑year revenue decline primarily to the November 2025 divestment; excluding that effect and the pubs restructuring, operating performance shows revenue growth and margin expansion. Key markets cited are the United Kingdom, Greece and the United States, and the company expects to execute hardware renewals and win new customers, channels and product formats to sustain the expansion.