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EveryMatrix Press Releases

EveryMatrix maintains momentum in Q3 2022

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B2B iGaming technology provider EveryMatrix announces strong results for Q3 of 2022.

EveryMatrix’s Q3 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 quarter in sales, two global operator launches, and a strong cash balance.

FINANCIAL PERFORMANCE AHEAD OF EXPECTATION

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Gross Profit (Gross Revenue less direct costs to game suppliers) increased by 33% Y/Y in Q3 2022 to €16.8 million (14.9) with a 4-year CAGR of 35%. EveryMatrix is now lapping the full Germany effect, and the strong comparable figures reflect the core business’ continuous growth.

EBITDA increased to €6.4 million (5.2) as the company continues to reinvest positive cash flow into future growth. Key investments remain U.S. expansion and the games segment of the business.

The EBITDA/Gross Profit margin was 38%, growing after successful cost control and profit growth.

RECORD GROSS PROFIT IN CASINO

The casino unit enjoys the best Gross Profit in a quarter (7.7m), with 31% YoY growth.

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During Q3, EveryMatrix was awarded the public tender for “Online Casino Games as a Service” to provide the Finnish state-owned gaming and lottery monopoly Veikkaus with a vast library of casino content, including the SlotMatrix Exclusive content.

Ebbe Groes, Group CEO of EveryMatrix, says: “I am pleased to see a fantastic third quarter, with global sales performance and very good financial results. Even more important, we won two new Tier-1 clients in the quarter, Veikkaus in Finland and bet-at-home in Germany and international markets.

“EveryMatrix launched with BetMGM in the U.S. and Morroco’s state-owned lottery MDJS. The Group’s record Gross Profit across all business segments clearly underlines our strong market position.”

KEY MILESTONES IN Q3

  • Record traffic from clients on all products, surpassing a total of €100m GGR in September.
  • Live in 18 regulated markets on its own RGS, with the addition of Argentina.
  • The first U.S. client, BetMGM, went live with SlotMatrix, the Group’s casino content aggregator.
  • 2 Tier-1 client wins: bet-at-home turnkey deal and Veikkaus public tender for “Online Casino Games as a Service”.
  • Landmark launch with Morocco state lottery, MDJS.
  • Launch of our first-ever Crypto Casino project.
  • 14 New casino deals signed and 22 new client launches.
  • 11 New sports client wins and 18 new affiliate platform deals signed.
  • Secured market entry in Ontario.

In Q1 2022, the Company initiated a determined welfare support programme for its Ukrainian staff. During Q2 and Q3 2022, the Company offered continuous support to Ukrainian staff relocating abroad and large donations to supporting causes. At the period end, operations remain unaffected, and staff are now largely returning to Ukraine.

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EveryMatrix Press Releases

BetGoodwin agrees multi-year EveryMatrix partnership

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EveryMatrix has finalised a multi-year agreement with rapid-growth operator BetGoodwin to power its UK business with the Tier 1 provider’s award-winning turnkey technology.

The turnkey sportsbook driven partnership will see BetGoodwin unlock access to an end-to-end suite of advanced OddsMatrix digital sports betting software solutions including comprehensive coverage from more than 100,000 live monthly matches, empowering Odds Management control tools and a suite of player focused front end features. This includes an 11-sport strong Bet Builder, multi-layered Cash Out engine, Early Payout, Odds Boost and much more.

In tandem with its upgrade to OddsMatrix sportsbook technology, BetGoodwin will also expand its core turnkey platform services by integrating several of EveryMatrix’s leading platform products.

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This includes casino productivity platform CasinoEngine, player management platform GamMatrix and payments platform MoneyMatrix enabling it to increase revenues and everyday efficiencies.

BetGoodwin becomes the latest FSB Technology client to commit to EveryMatrix technology since its acquisition by the Tier 1-provider earlier this year.

By partnering with EveryMatrix, the industry’s fastest growing iGaming technology supplier, BetGoodwin will have access to the tier-1 provider’s 1,100+ experts across 14 global offices, including the UK, and its comprehensive modular product suite. This will enable it to supercharge its product performance, develop advanced features in record time and access round-the-clock support.

Launching on the FSB sportsbook platform in 2022, BetGoodwin is a rapidly growing UK brand with an expanding client base, portfolio of key horse racing sponsorships and a programme of brand ambassador partnerships including jockey Tom Cannon and media personality Mike Cattermole.

Ebbe Groes, CEO and co-founder, EveryMatrix, said: “We are proud to welcome BetGoodwin onto the EveryMatrix platform. The growth journey they have experienced in the UK over the last two years has been great to see and we look forward to elevating this ambitious operator to the next level.

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“It is a fantastic endorsement of our turnkey technology that this flourishing brand has committed to a long-term agreement.

“This partnership underlines our commitment to offering world-class software products and services within highly competitive, global regulated markets such as the UK.”

Julian Head, CEO, BetGoodwin, said: “This agreement demonstrates the trust we have in the EveryMatrix technology and team. We have been impressed by the game-changing capabilities of their comprehensive turnkey platform services and are confident their technology can be the catalyst for our future growth in the UK.

“Horse racing is an integral part of our brand proposition and the forthcoming launch of OddsMatrix’s proprietary racing product will provide our growing player base with a standout service.”

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Compliance Updates

Gaming Laboratories International (GLI®) delivers gold standard certification to core EveryMatrix platform products

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Gaming Laboratories International (GLI®) has certified EveryMatrix’s core platform products with a twin set of gold standards enabling it to rapidly deliver its trusted technology across further regulated markets.

CasinoEngine and GamMatrix, EveryMatrix’s productivity and player account management platforms, are now fully certified to the GLI-19 standard, while its sportsbook platform OddsMatrix is certified to the GLI-33 standard.

GLI-19 relates to interactive gaming systems, while GLI-33 pertains to event wagering systems. The certification tests were executed by the GLI team.

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Both are widely accepted to be among the gold standard certifications within the betting and iGaming industry and mark an important milestone in EveryMatrix’s 16-year history as it continues to grow and rank among the fastest growing technology providers.

All three platform products have been recognised as adhering to compliance requirements and best practices dictated by the two GLI standards. This now allows EveryMatrix to demonstrate compliance in all jurisdictions that base their regulations on the GLI-19 and GLI-33 standards.

The GLI certifications across CasinoEngine, GamMatrix and OddsMatrix also allows EveryMatrix to accelerate its technology deployment in each existing or new jurisdiction with the testing lab only needing to perform a reduced set of tests in each case.

Jake Cachia, Head of Compliance, EveryMatrix, said: “Customers across the world today look to work with providers that have software certified according to these two standards which represent the highest mark of quality and compliance in our industry.

“We are already seen as one of the most trusted partners in the market, however both GLI-19 and GLI-33 will help us build on this even more within regulated jurisdictions and we’re grateful to GLI for conducting such a thorough and efficient process.”

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Chris Davies, Vice President of Sales, GLI Europe, said: “It has been a privilege for GLI to support the EveryMatrix Team in going live in North America and LatAm markets based on GLI standards. It has, and it continues to be, a true collaboration, engaging with such an innovative team. We are excited to see the significant progress they make and wish them and everyone a successful G2E.”

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EveryMatrix Press Releases

Pinnacle goes live with ‘next level’ EveryMatrix CasinoEngine technology

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Global tier-1 betting and gaming pioneer brand Pinnacle has gone live with a new, advanced casino offering powered by EveryMatrix CasinoEngine technology.

Pinnacle’s casino brand is now driven by CasinoEngine, EveryMatrix’s leading productivity platform. Phase two of the partnership will see the integration of BonusEngine and JackpotEngine technology further boost growth with bonusing and gamification tools proven to increase reactivation, acquisition and retention.

CasinoEngine will aim to significantly grow Pinnacle’s casino offering into a world-class, digital entertainment experience with access to an ever-growing portfolio of more than 31,500+ best performing games.

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Pinnacle has built a large part of its new casino front-end using EveryMatrix technology. It will integrate JackpotEngine to further fuel its casino through flexible and configurable jackpot customisation, adding new user experience layers to its content, plus a variety of industry-leading player reward and bonus management features.

Launched in 1998 Pinnacle is one of the world’s best-known betting and gaming brands, pioneering advanced sports betting models, becoming the first operator to launch esports betting and consistently focusing on offering the best odds and high betting limits.

For the full year 2023 EveryMatrix produced record Gross Gaming Revenue (GGR) for operator partners with the casino business unit generating €1.9bn, up 83% Year-on-Year (YoY), while Q2 2024 GGR for casino customers produced an eleventh consecutive record quarterly performance of €658m, up 53% YoY.

Stian Enger Pettersen, CEO Casino, EveryMatrix, said: “To partner with a brand as well known and well respected as Pinnacle is a huge endorsement of our capabilities to significantly grow casino revenues for tier-1 operators across global regulated markets.

“The industry-beating numbers we continue to generate and records we continue to break for our customers speak for themselves, so we’re delighted that Pinnacle’s management team have placed their faith in us to drive forward their casino and take it to the next level.”

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Nicole Kalcheva, Head of Casino, Pinnacle, said: “Sports and esports have consistently been our strongest play, but with our new partnership with EveryMatrix and the proven excellence their products and services continue to achieve, we know we can reach the same heights in casino, providing our players with the ultimate best-in-class experience across all verticals.”

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