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EveryMatrix Press Releases

EveryMatrix exceeds 2023 expectations with record annual results

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EveryMatrix has registered the strongest financial results in its 16-year history setting record growth and profitability including 56% quarterly profit margin for Q4 2023 – its third consecutive quarter above 50%.

Announcing its combined Q4/full year 2023 financial results, the industry’s fastest growing iGaming technology provider set record annual net revenue of €114m across all products, up 75% from 2022 (€65m) and more than four times higher than in 2019 (€28m).

The business recorded significant growth in all business segments in Q4 with record quarterly net revenue of €36m, up 87% Year-on-Year (YoY). ​

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Annual EBITDA surged to €60m for the full year, up 155% compared to 2022 and €20m for the quarter, up 194% YoY driven by strong sports trading margins and significant growth across its casino segment.

2023 – YEAR OF TIER-1 DELIVERY

EveryMatrix’s record-breaking 2023 financial performance was driven by continued excellence in technology and service delivery to a rapidly growing roster of 300+ global customers including its two largest turnkey platform launches to date: the Hungarian state lottery, Szerencsejáték Zrt and Bet-at-home in Germany. Both brands went live with the supplier’s turnkey platform and sportsbook solutions at the end of 2023 and are delivering impressive results. ​

The business also amplified its affiliate division with the acquisition of DeepCI, a leading iGaming intelligence platform offering game-changing data tracking across millions of affiliate publisher pages. PartnerMatrix integrated DeepCI in Q4 2023 enabling its customers to source untapped opportunities, enhance their brand’s footprint and maximise efficiencies and earnings.

PLAYMATRIX – NEW PRODUCT VERTICAL LAUNCH

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On December 27th, 2023, the Group launched a new live casino product and business unit entitled PlayMatrix. Its first live Roulette product offers a cutting-edge platform and user interface built from scratch using the most modern technology available, offering 4K digital video signal processing technology with low latency enabling operators to offer next generation gaming to next generation players. The business will announce more details on PlayMatrix in the months to come.

CORE PRODUCTS CONTINUE TO SMASH RECORDS

EveryMatrix quarterly Gross Gaming Revenue (GGR) performance for operator partners within the Casino business unit generated €588m in Q4 2023, an increase of 89% YoY compared to the same period in 2022. Full year GGR stood at €1.9bn, up 83% YoY.

Quarterly casino net revenue rose to €17.9m, up 101% YoY while EBITDA reached €11.4m reflecting a 212% YoY increase. Full year net revenue reached €54.7m, up 86%, with EBITDA soaring 162% to €32.3m.

The OddsMatrix sports division had its best ever year setting record growth, profitability, and a record number of bets for tier-1 customers. Q4 net revenue was up 69% YoY to €9.1m, while EBITDA reached €4.9m, up 178% YoY. Q4 sports GGR climbed to €74m, up 210% YoY, while annual GGR rose 85% to €190m YoY.

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Thanks to a series of major tier-1 launches OddsMatrix saw a 75% YoY rise in total bets from 109 million to 183m from 2022 to 2023, and a 95% QoQ increase in bets in Q4 2023 compared to the same period a year ago.

The business unit set its second highest ever month in GGR for customers in December 2023 at €44.4 million following a record month just four weeks earlier in November 2023 (€48.5m).

Platform saw Q4 2023 net revenue reach €7.9m, up 91% YoY, while EBITDA reached €4.0m, up 283% YoY.

The Affiliate Platform division, including PartnerMatrix and DeepCI, saw net revenue grow to €1.3m, up 39% YoY with EBITDA down 21% YoY due to accelerated product investment.

Ebbe Groes, Group CEO of EveryMatrix, said: “2022 was phenomenal but this year’s numbers are mind blowing. Every business unit and every one of our employees has contributed to a stellar set of financials proving we really are among, if not, the industry’s fastest growing iGaming technology supplier.

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“Our growth acceleration from 2019 to today is staggering, while crucially we continue to deliver huge returns for our customers. Particularly pleasing has been the development of our OddsMatrix technology where the team’s hard work has paid off in both winning and delivering to some of the largest operators in Europe. The last 12 months have propelled OddsMatrix to joining the ranks of the industry’s largest sportsbook providers.

“Our progress shows no signs of slowing with investment in PlayMatrix; an exciting new live casino product, new technologies, innovations, and new tier-1 customers in the pipeline, while we are closing in on our 1,000th employee at the same time as opening a state-of-the art, purpose-built headquarters in Bucharest. The future is very bright for EveryMatrix in 2024 and beyond.”

 

KEY Q4 & END OF YEAR HIGHLIGHTS

  • Casino – First to launch casino content and aggregation services with WLA-member Veikkaus with more to come across 2024
  • Sports – Live with bet-at-home and Hungarian lottery, two largest and most complex projects company has ever undertaken
  • Platform – developed next generation Player Account Management: GamMatrix v2 using new microservices, can horizontally scale indefinitely and be customised for multiple markets, lowering time to market​
  • Affiliate – PartnerMatrix integrated DeepCI proving end-to-end insights for operators and affiliates sites
  • Gained regulatory approval in Pennsylvania completing licencing process in all regulated US iGaming states
  • Increased headcount to 900+ while growing profitability to record high EBITDA margin
  • Three new senior hires in Q4 including CEO Games, CCO and Head of Lottery
  • Opened purpose-built, eco-friendly HQ in Bucharest; opened new office in Batumi, Georgia to facilitate new product expansion

 

Read the full Q4 and End of Year 2024 Update on EveryMatrix.com

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EveryMatrix Press Releases

EveryMatrix named Aggregator of the Year at CasinoBeats Game Developer Awards 2024

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EveryMatrix is thrilled to announce it has won Aggregator of the Year at this year’s CasinoBeats Developer Awards for its cutting-edge Gaming Aggregation Tool, SlotMatrix.

The judges found that SlotMatrix demonstrated exceptional performance in gaming aggregation, offering unparalleled access to the industry’s largest games library, providing operators with powerful promotional and gamification tools to enhance players’ gaming experiences.

In addition to winning Aggregator of the Year, EveryMatrix secured second place in the Platform Innovation of the Year category for its BonusEngine Boosters suite of products that have both redefined the player experience and how operators generate additional revenue in highly competitive and often highly complex regulated markets.

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The industry impact has been significant. Customer results benchmarking games with and without BonusEngine Boosters jackpots show that players who play games WITH an additional jackpot layer increase bet amounts by an average of 50%, rounds per session increase by 50% and average game session length rises by 11%.

This recognition highlights the company’s ongoing commitment to iGaming innovation and excellence, reflecting EveryMatrix’s ability to adapt and lead with state-of-the-art platform solutions.

Supremeland Gaming’s Powderkeg studios, a SlotMatrix Exclusive RGS partner, also won Slot Debut of the Year for its explosive title, Munition Mine.

The post EveryMatrix named Aggregator of the Year at CasinoBeats Game Developer Awards 2024 appeared first on European Gaming Industry News.

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EveryMatrix Press Releases

EveryMatrix promotes Mihnea Dobre to Chief Technology Officer

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EveryMatrix has appointed Mihnea Dobre as its new Group Chief Technology Officer.

With his extensive experience and expertise Mihnea will spearhead the company’s technology strategy and operations, based in Bucharest.

Previously EveryMatrix’s Head of IT Governance, Mihnea has been a pivotal figure within the leadership team.

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He has been part of EveryMatrix for almost a decade, joining the company as Head of Incident Management with a team of just four. One year after joining, he formed the Technical Support and IT Governance teams, significantly improving the release management and change management processes.

In his new position, he will lead EveryMatrix’ technical development, provide technical direction and support the company’s business unit CTOs in achieving their objectives.

Ebbe Groes, CEO of EveryMatrix, said: “Working alongside Mihnea for the past eight years has been a pleasure from day one. His appointment as Group CTO is a logical progression, as the company thrives amidst exponential growth, boasting a workforce of more than 1,000 employees.

“His expertise will ensure the seamless management of operations, crucial in upholding the high service standards our customers demand.”

Mihnea Dobre, Group CTO, EveryMatrix, said: “Stepping into the role of CTO has me buzzing with excitement. This is not about the job title; it’s about diving into a world where tech meets real change.

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“Taking on this role was a no-brainer – I jumped at the chance to make a difference with creativity and fresh thinking and am genuinely thankful for the trust given to me. I can’t wait to roll up my sleeves with the team, crafting the future one step at a time.”

The post EveryMatrix promotes Mihnea Dobre to Chief Technology Officer appeared first on European Gaming Industry News.

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EveryMatrix Press Releases

EveryMatrix hits 16-year quarterly high

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EveryMatrix has smashed its historical quarterly high with continued strong revenue growth and profitability hitting a new record. 

Announcing Q1 2024 results, the industry’s fastest growing iGaming technology provider had quarterly net revenue of €39 million across all products, growth of 66% Year-on-Year (YoY), while also setting a quarterly profit margin record of 57% – its fourth consecutive quarter with both growth and profit margin above 50%. 

Q1 2024 EBITDA rose to €22.3m, up 111% YoY. 

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The record quarter comes just three months after EveryMatrix registered the strongest financial results in its history. 

STARTING THE YEAR IN STYLE 

The EveryMatrix financial year is underway in style, driven by large value client signings, multiple new client launches across all the company’s core business units, strong sports trading and innovation and continued growth in casino. 

EveryMatrix was among the first wave of iGaming technology providers to gain regulatory accreditation in Peru, while it made further progress in the US launching its first casino aggregation partner with third-party content live on DraftKings in New Jersey. 

The tier-1 supplier also hit a significant post-period milestone reaching 1,000 employees across 13 global locations, with its largest purpose-built office opening its doors to 450 personnel in Bucharest, Romania and a new office launched in Cebu, Philippines, dedicated to focusing on DeepCI data products. 

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CASINO AND SPORTS CONTINUE TO SHINE 

EveryMatrix quarterly Gross Gaming Revenue (GGR) performance for operator partners within the Casino segment generated a record quarterly performance of €619m in Q1 2024, up 65% YoY with GGR for the last 12 months at €2.1 billion, a 78% YoY increase. 

Quarterly casino net revenue rose to €19.9m, up 83% YoY while EBITDA reached €13.2m reflecting a 132% YoY increase. The SlotMatrix aggregation product introduced 886 new games. 

The OddsMatrix sports division saw turnover rise 31% YoY to €1.3bn, with GGR climbing 308% YoY to €96m. Net revenue for Q1 2024 reached €10.5m, up 78% YoY, while EBITDA hit €6.2m, reflecting a 313% increase. 

OddsMatrix covered a record 173k live events in a single month. The average monthly number of bets placed reached 39m. 

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Platform saw quarterly net revenue reach €7.3m, up 28% YoY, with EBITDA at €3.2m, up 13% YoY. The EveryMatrix Player Account Management (PAM) system hit a massive new record of 230k bets per minute at peak times. 

The Affiliate Platform division, including PartnerMatrix and DeepCIsaw net revenue grow to €1.4m during the quarter, up 39% YoY, with EBITDA down €0.4m due to continued product and commercial investment. DeepCI added 22 further geos to its offering and signed 14 new clients, while PartnerMatrix signed 15. 

Ebbe Groes, Group CEO of EveryMatrix, said: “It’s been more than a year of the company breaking records and hitting new highs, and this quarter has been the best yet. 

“It’s mind-blowing how far we’ve come and how much progress continues to be made across the entire business. From casino, sports and platform that are all showing extremely positive signs of sustained growth and expansion, to our affiliate, payments and live casino divisions that are pushing the boundaries of technology and paving the way for future success, we’re in a fantastic position for the remainder of 2024 and beyond. 

“Watch this space as there is plenty more to come from EveryMatrix this year!”

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Q1 2024 HIGHLIGHTS 

  • Among first wave of B2B technology providers to gain regulatory accreditation in Peru 
  • Signed a turnkey customer estimated to deliver more than €3m annual net revenue 
  • Live on DraftKings in New Jersey with first US casino content aggregation partner – Supremeland Gaming Inc 
  • Launched game content with Entain (BetMGM), Golden Nugget Online Gaming and DraftKings 
  • 886 new games on SlotMatrix aggregation platform bringing total to 27,825+ games 
  • Integrated seven new casino vendors bringing total to 158 
  • In-house games studio Armadillo Studios launched several games including Alice’s Mad Fortune, Shamrock Surprise, Gummy Galaxy and Paws & Claws 
  • Released 30+ new betting types across multiple sports 
  • Signed 15 and 14 new PartnerMatrix and DeepCI clients respectively 
  • Increased total company headcount post-period to 1,000+ including opening an office in Cebu, Philippines focusing on DeepCI products 
  • Four new senior hires in Q1 including CEO MoneyMatrix, CEO PlayMatrix, CCO PlayMatrix, CCO PartnerMatrix 

The post EveryMatrix hits 16-year quarterly high appeared first on European Gaming Industry News.

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