Ebbe Groes

EveryMatrix set for another standout year with strong Q1 performance

Published

4 weeks ago

May 2, 2025

everymatrix-set-for-another-standout-year-with-strong-q1-performance

EveryMatrix has kicked off 2025 with powerful momentum, reporting a standout first quarter of exceptional revenue growth and profitability.

The tier-1 iGaming technology platform supplier delivered a very strong first quarter performance, with net revenue reaching €54 million, up 39% Year-on-Year (YoY), and EBITDA increasing to €28m, up 27% YoY, driven by strong growth from existing clients and innovative product launches.

EBITDA margin reached 52%, making it the eighth consecutive quarter above 50%, as the company continues to scale its platform and casino content technologies while maintaining strong financial discipline.

The last twelve months’ EBITDA reached €107m, up 50% YoY, building on 2024’s milestone achievement of surpassing €100 million in annual EBITDA.

Q1 MILESTONES SIGNAL POWERHOUSE YEAR AHEAD

European Gaming Congress 2024 (Warsaw, Poland)

A highlight of the first quarter was the successful migration of Bet600 – the first full turnkey FSB Technologies customer in the UK – to the EveryMatrix platform. The company aim remains to have all clients fully migrated in 2025 thereby realizing large cost synergies from this key acquisition.

EveryMatrix launched its cutting-edge proprietary Horse Racing solution by combining FSB’s proven knowledge and experience in Horse Racing with the innovation of OddsMatrix development teams. It provides global horse racing coverage with 10k+ monthly events, full system bets offering with bonusing capabilities and configurations and a purpose-built Horse Racing front end with rich Racecard content & live streaming integrations among some of the features.

A landmark deal was signed to deliver a full casino turnkey platform solution to SkyCity Entertainment Group. SkyCity is one of New Zealand’s largest entertainment companies owning five land-based casinos across both NZ and Australia and the online casino brand SkyCitycasino.com. SkyCity migrates from their current provider to EveryMatrix later this year.

SPORTS SURGE AND STRONG CASINO & PLATFORM GROWTH

Q1 2025 saw the company’s sports division deliver exceptional growth, with quarterly sports turnover rising 30% YoY to €1.7b, while GGR climbing 60% YoY to €154m on the back of continued strong trading margins. The last twelve months (LTM) turnover hit €6.3b, reflecting a 48% YoY increase, with GGR rising by 92% YoY to €505m. Part of the growth came from reaching a record number of nearly 600,000 live events, a 24% YoY increase.

Casino experienced the strongest quarterly financial results to date, with net revenue climbing to €28.6m, up 44% YoY, while EBITDA reached €16.8m, up 29% YoY. Casino GGR reached €753m, a 22% YoY increase, with the LTM reaching €2.9b, a 38% YoY increase.

GamMatrix, the company’s Gaming and Player Account Management Platform, experienced a net revenue increase of €8.6m, up 18% YoY, while EBITDA landed at €2.4m, a 23% decrease YoY. The decrease in EBITDA margin is related to a change in internal revenue allocation.

Ebbe Groes, Group CEO of EveryMatrix, said: “I’m very excited for 2025. Q1 was a solid quarter, a great start, and the rest of the year looks just as promising. We had a phenomenal year in 2024, which will be hard to beat, but thanks to the momentum we’ve set in motion during the last few years, I’m sure we’ll be able to do it.

“Our sports division never ceases to amaze me, breaking record after record. This quarter, we managed to reach 600,000 live events, all thanks to our ability to expand our coverage and add new products and features even while experiencing this much continuous growth.”

Q1 2025 HIGHLIGHTS

Reached net revenue of €54m, up 39% YoY, with EBITDA at €28m, up 27% YoY, driven primarily by strong growth from existing clients.
EBITDA margin reached 52%. Last twelve months’ EBITDA reached €107m, up 50% YoY.
Migrated Bet600 from FSB to EveryMatrix platform, the company’s first such migration.
OddsMatrix’s brand new Horse Racing product went live with this launch.
Signed New Zealand’s SkyCity Entertainment Group to deliver a full casino turnkey platform solution.
First three dedicated blackjack tables went live, another step up for the business’ PlayMatrix live dealer product.
Launched OddsMatrix feeds for LeoVegas Group to enhance their global sportsbook offering.
Won Norsk Tipping’s Casino and eInstant RFP, the largest-ever SlotMatrix deal, delivering aggregation, in-house and bespoke content.
Launched SlotMatrix casino content with Caesars Entertainment across five U.S. states, expanding U.S. presence (post-quarter).
Introduced New Odds Models for Football and Handball and enhanced retail Self Service Betting Terminals (SSBTs).
Introduced real-time Rakeback through LoyalityEngine, the company’s Newly Launched Cross-Vertical Loyalty Program.
Integrated 14 new casino vendors, now totalling 185+ and 345+ content providers.
Signed 20 new PartnerMatrix clients.