EveryMatrix Press Releases
EveryMatrix reports strong Q2 performance
B2B iGaming technology provider EveryMatrix announces strong results for Q2 of 2022.
EveryMatrix’s Q2 update shows financial performance ahead of expectations and Gross Profit growth across all business segments (Casino, Sports, and Platform) against the same period in 2021, a strong global sales performance with a significant contract signed, good cash balance, and a successful acquisition.
FINANCIAL PERFORMANCE AHEAD OF EXPECTATION
Gross Profit (Gross Revenue less direct costs to game suppliers) increased by 17% Y/Y in Q2 2022 to €14.9 million (12.7) with a 4-year CAGR of 35%. While the regulatory changes in Germany impacted Gross Profit in the Casino segment, that segment still grew by 11% Y/Y thanks to the company’s product diversification and broad client base.
EBITDA held at €5.2 million (5.2) as the company continues to reinvest positive cash flow into future growth. Key investments remain U.S. expansion and the quarter saw the acquisition of retail sports betting supplier Leapbit, bringing in nearly 20 new staff and a Croatian office.
The EBITDA/Gross Profit margin was 35%.
Net Cash grew from €11.1 million at the end of Q1 2022 to €15.2 million in Q2 2022. The Company is reinvesting positive cash flow into future growth and remains debt-free.
Ebbe Groes, Group CEO of EveryMatrix, says: “Driven by our diverse product offering and strong client base, we saw yet another record number of new client wins in the quarter with 43 deals signed across all products. Furthermore, a 17% increase in Gross Profit, the best reflection of the underlying performance of the Group, allows us to continue to invest in our future growth.”
STRATEGIC ACQUISITION FINALISED
In May 2022, the company successfully finalised the acquisition of sports betting developer Leapbit. The merger strengthens the Group’s sports betting product OddsMatrix with an advanced and proven retail offering.
OddsMatrix will fully incorporate Leapbit’s comprehensive retail-focused software solution and other products such as virtual horse racing and lottery games. As such, the company elevates its online-first OddsMatrix sport betting platform to a true omnichannel iGaming solution to operators with retail presence.
Commenting on the largest acquisition to date, Ebbe Groes, says: “OddsMatrix is one of the company’s three pillars and is growing at a tremendous rate already. Retail is a big component of any comprehensive sports betting suite, and by integrating Leapbit’s technology, we will take OddsMatrix to become a leader of true omnichannel sports in regulated markets.”
KEY MILESTONES IN Q2
- New client wins record with 43 deals signed across all products in Q2 2022.
- Reached 90% of Total Deal Value from 2021 for client wins in only 6 months.
- 4 new Tier 1 clients secured with 888casino and BetMGM in the U.S., and in Europe, the National Lottery of Malta and one of the top operators in Italy.
- 2 key clients in regulated markets, Germany and Romania, went live with CasinoEngine.
- 54 new brands went live with SlotMatrix.
In Q1 2022, the Company initiated a determined welfare support programme for its Ukrainian staff. During Q2 2022, the Company offered continuous support to Ukrainian staff and large donations to supporting causes. At the period end, operations remain unaffected, and staff are now returning to Ukraine.
LARGE CLIENT SIGNING AFTER END OF Q2
In July 2022, B2B platform provider EveryMatrix and German-based operator bet-at-home agreed on the delivery of the supplier’s comprehensive turnkey solution. The Frankfurt-listed operator will replace its existing proprietary platform with EveryMatrix’s tech stack.
This includes a modern sportsbook, casino platform, player management, payments module, and affiliate software. The agreement covers all the markets where bet-at-home is currently present, including their core regulated German market.
“This landmark agreement reflects the breadth and depth of our products, but especially the quality of our sports platform, OddsMatrix. The constant investment and development in OddsMatrix have been at the core of what we do for many years, and I’m happy to see more Tier 1 operators joining our client list.” concludes Ebbe Groes.
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EveryMatrix platform technology has been selected by tier-1 operator Danske Licens Spil to power its casino and bingo in a long-term partnership.
Denmark’s leading casino brand and a subsidiary of state-owned Danske Spil will migrate its casino and bingo business from its existing provider to the EveryMatrix tech stack ready for a summer 2026 launch.
This includes EveryMatrix’s proven gamification and engagement tools enabling the brand to offer its customers richer, more engaging experiences while increasing acquisition and retention levels.
The partnership marks the tier-1 supplier’s most significant casino platform deal of this year and another large-scale state-owned operator signing a long-term technology agreement, cementing EveryMatrix’s place as one of the world’s most trusted and valuable iGaming platform providers.
It has delivered and won its largest tier-1 platform deals and generated record-breaking growth and profitability for both the business and its customers via its turnkey platform offering with casino, sports betting and technologies at the heart of its success.
Ebbe Groes, Group CEO & Co-Founder, EveryMatrix, said: “To earn the confidence of the Danske Licens Spil’s management team to deliver this project and replace their existing platform technology for the first time since Denmark regulated in 2012 is a huge endorsement. I’d like to personally thank them for the trust they’ve placed in EveryMatrix.
“The rate at which we’re winning and delivering large, tier-1 turnkey platform deals to power some of the world’s best-known brands is rapidly accelerating. This is thanks to the tireless efforts of our experts and the superior technology solutions they design and deploy.”
Søren Schneider, iGaming Director at Danske Licens Spil, said: “After a thorough selection process, we have chosen EveryMatrix as our future platform partner for casino and bingo. We look forward to leveraging their modern and flexible technology to enhance our offering and provide an engaging and responsible gaming experience for our customers. EveryMatrix’s agile platform makes it easy for us to integrate with a wide range of game providers, strengthening both our offering and the overall player experience.”
The post Danske Spil selects EveryMatrix to power casino and bingo offerings appeared first on European Gaming Industry News.
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The post SlotMatrix gets spooky with the launch of Ghost Pigger appeared first on European Gaming Industry News.
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SlotMatrix, the world’s largest iGaming content aggregator, introduces Circle of Sylvan, a spellbinding new slot where enchanted forests, glowing coins, and powerful jackpots fuse to create fun and exciting potential wins.
Deep in the heart of the Sylvan realm lies hidden treasure, guarded by ancient trees and shimmering coins. Players are invited to channel magical energy into the Golden Circle, nourishing the mystical Golden Tree and growing the value of five dynamic Jackpots.
Each Sylvan coin collected adds 0.5x to the Jackpot prizes, creating a living, breathing prize pool that expands with every spin.
At the heart of Circle of Sylvan is the Jackpot Wheel, an awe-inspiring feature where every Sylvan coin that lands on the reels has the chance to summon the mystical wheel. Once summoned, the wheel awards one of five Jackpot prizes, boosting player suspense and bringing exciting rewards.
The excitement doesn’t stop there. The Free Spins multiplier grows each time players narrowly miss a Free Spins trigger by just one reel. With every two progressions, the multiplier climbs another level, reaching up to an astonishing 50x. Locking all positions on a reel further boost the multiplier during the Hold & Win Free Spins, turning near misses into thrilling opportunities.
All collected cash prizes during Hold & Win are multiplied by the current Free Spin multiplier.
Circle of Sylvan is exclusively available through SlotMatrix. As with all SlotMatrix titles, the game is enhanced by EveryMatrix’s proprietary gamification features, including free spins and leaderboards, and can be integrated with EngageSuite, the all-in-one player loyalty solution.
Bjorn Sjoberg, COO, SlotMatrix, said: “Players will love Circle of Sylvan. This was an ambitious fusion of progressive jackpots, innovative mechanics, and immersive storytelling.
“A perfect example of how SlotMatrix is redefining the slot experience, giving operators a truly standout title with incredible engagement potential.”
The post SlotMatrix grows Enchanted Jackpots with Circle of Sylvan launch appeared first on European Gaming Industry News.
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