Inspired Entertainment reported that, despite their increase in revenue, they still saw widening losses in 2019. This according to their financial report that was issued on March 11.

They reported that the fourth-quarter revenue increased by 116.2% over the same period of time in 2018. This was driven by $66.4 million growth across “Business Segments and Acquisition of Novomatic Gaming Technology Group (“Acquired Businesses” or “NTG Acquisition”).”

In fact, the fourth-quarter numbers were quite positive for Inspired. They reported an adjusted EBITDA increase of 69.4% over the same period in 2018, an increase of $17.7 million. This, the company concluded, provides a total Annualized Cost Synergies for the Acquired Businesses Projected a $15.0 million for 2020.

The total revenue for 2019 saw an increase, up 9% from 2018, going from $140.7 million to $153.4 million in 2019. The majority of this revenue came from its business unit, which accounted for $134.9 million, an increase of 3.3% over the prior year.