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 has extended its partnership with Betsson Group, giving the global operator’s brands access to its full content library across a range of licensed markets.
The first phase of the new agreement sees Betsson Group launch exclusive in-house content from Fantasma Games, following the successful integration with EveryMatrix’s platform.
Ahead of the second phase of the partnership, EveryMatrix and Betsson Group are reviewing several high-performing third-party studios, with the aim of further strengthening the operator’s casino offering across additional licensed markets.
The agreement builds on EveryMatrix’s recent go-live with Betsson Africa in Cameroon, where the technology provider delivered a full turnkey casino and sports integration, including front-end development, player account management, payments and affiliate management.
EveryMatrix Casino has the world’s largest casino aggregation platform, offering more than 45,000 games from 180 vendors and 355 game studios.
Mark Hothersall, Head of Business Development, EveryMatrix Casino, said: “Our initial launch with Betsson in Cameroon was another strong showcase of our ability to support tier-1 operators with scalable, regulated technology.
“Extending this partnership through the launch of Fantasma Games shows the value of our relationship and the value our casino portfolio can bring across multiple brands in regulated markets.”
Karl Shranz, Director of Gaming, Betsson Group, said: “Following the successful launch with EveryMatrix in Cameroon, we saw a clear opportunity to explore further areas of collaboration, with content being a natural next step.
“EveryMatrix offers a strong portfolio, quality titles, and the operational standards required to support our brands across regulated markets.”
The post EveryMatrix extends Betsson Group partnership with Fantasma Games launch appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
New unit will build digital-first lottery products, including numbers games, pool sports and eInstants, as the supplier expands its lottery footprint.
EveryMatrix has launched a dedicated Lottery division to develop digital-first technology, features and functionality for the global lottery industry.
The company said the new unit will expand its lottery product capabilities and support long-term investment in the segment. Planned product areas include numbers games, pool sports, and a selection of eInstants.
Nikolina Gabelica has been appointed Managing Director of the new business unit. Gabelica joined EveryMatrix three years ago as Head of Lottery and has more than 20 years of experience across the lottery and iGaming sectors. EveryMatrix noted she has also been involved in European Lotteries (EL) initiatives, including serving as Executive Chair of the Marketing & Communications Working Group.
EveryMatrix cited existing partnerships with tier-1 lottery groups including Szerencsejáték Zrt in Hungary, Norsk Tipping in Norway, Veikkaus in Finland, OPAP in Greece and Danske Spil in Denmark.
Gabelica said: “We strongly believe there is room in the lottery world for a new approach, bringing modern, modular and digital-first technologies that help lotteries grow, innovate and better meet expectations of today’s players.
“The creation of a dedicated Lottery business unit is a natural next step and an important milestone for EveryMatrix that reflects our long-term commitment to the lottery sector.”
The post EveryMatrix sets up dedicated Lottery division, names Nikolina Gabelica MD appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
The operator is the first UK partner to launch on EveryMatrix’s new in-house front-end, covering sportsbook, casino, platform and affiliates.
BetAhoy has gone live in the UK on EveryMatrix’s full turnkey platform under a multi-year partnership agreement between the companies.
EveryMatrix said the launch includes sportsbook, casino, platform services and affiliate management, supported by its UK-based teams. The supplier also said BetAhoy is running its proprietary horse racing solution as part of the same integrated technology stack.
The operator is the first UK partner to launch with EveryMatrix’s new front-end, which the supplier described as a responsive, bespoke solution built in-house by its UX and product teams and designed to connect to the wider EveryMatrix turnkey ecosystem.
Jonas Groes, Co-CEO, EveryMatrix, said: “BetAhoy is an exciting partner and the first UK brand to launch with our new front-end. Our UK expansion is strong with a significant number of turnkey success stories including BetGoodwin, Ken Howells, FitzBet and BetTOM.”
Sam Carrington, CEO, BetAhoy, added: “EveryMatrix has shown clear momentum in the UK and their technology gives us the platform, products and support needed to launch with confidence.”
The post BetAhoy goes live on EveryMatrix turnkey platform in UK deal appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
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