SCHEDULE: Kanen Entities Boost Stake in Inspired Entertainment to 9.97%

Kanen Wealth Management and its affiliates have increased their beneficial ownership in Inspired Entertainment, Inc. to nearly 10% of outstanding common stock.

Summary

• Philotimo Fund, LP beneficially owns 1,449,969 shares of Inspired Entertainment, Inc. common stock, representing approximately 5.38% of the outstanding shares.
• Philotimo Focused Growth & Income Fund beneficially owns 700,000 shares, representing approximately 2.60% of the outstanding shares.
• Kanen Wealth Management LLC beneficially owns 2,557,669 shares, representing approximately 9.50% of the outstanding shares. This includes shares owned by Philotimo Fund, PHLOX, and 407,700 shares held in separately managed accounts.
• David L. Kanen beneficially owns 2,683,969 shares, representing approximately 9.97% of the outstanding shares. This includes 126,300 shares directly owned and shares controlled through Kanen Wealth Management LLC.
• The group, comprising Philotimo Fund, PHLOX, Kanen Wealth Management LLC, and David L. Kanen, collectively beneficially owns 2,683,969 shares, which is approximately 9.96% of the outstanding shares.
• The beneficial ownership percentages are calculated based on 26,926,868 shares outstanding as of October 31, 2025, as reported in Inspired Entertainment, Inc.'s Form 10-Q filed on November 8, 2025.

Sentiment

Score: 6

Explanation: The filing reports a significant increase in beneficial ownership by an institutional group, which can be interpreted as a positive signal of investor confidence. However, it is a factual disclosure without operational or financial performance details, thus a moderately positive score.

Positives

• Increased institutional ownership by Kanen Wealth Management and its affiliates, potentially signaling confidence in Inspired Entertainment, Inc.'s future prospects.

Future Outlook

NA

Industry Context

This filing indicates a significant accumulation of shares by an institutional investor group in the entertainment and gaming technology sector, suggesting a potential long-term interest in Inspired Entertainment, Inc.'s market position or future prospects. Such an increase in institutional ownership can sometimes be viewed positively by the market, signaling confidence from sophisticated investors.

Stakeholder Impact

• Shareholders: Increased institutional ownership may provide stability and signal confidence, potentially influencing stock perception.

Key Dates

Keywords

Inspired Entertainment, Kanen Wealth Management, Philotimo Fund, beneficial ownership, Schedule 13G, common stock, institutional investor, equity stake, 45782N108