EveryMatrix Strengthens iGaming Growth with Dual Acquisitions in 2024

EveryMatrix has reinforced its rapid growth in Q3 2024, posting record net revenue and achieving its sixth consecutive quarter with profit margins exceeding 50%, propelled by recent acquisitions in the casino and sports segments.

The company’s strong performance follows its acquisition of FSB Technology in June and Fantasma Games in October, marking EveryMatrix as one of the fastest-growing iGaming suppliers. Headcount has grown by 31% year-over-year to 1,188 employees, supporting the expansion into new markets and product innovation.

In Q3 2024, EveryMatrix reported a record quarterly net revenue of €45 million, up 66% year-over-year (YoY), and an EBITDA margin of 52%, with EBITDA reaching €23 million, a 71% YoY increase. The consistent profit margins reflect successful customer launches, growth in core sports and casino divisions, and robust sports trading results.

Strategic Acquisitions to Boost Market Position

The acquisitions of FSB Technology and Fantasma Games are set to enhance EveryMatrix’s capabilities and market reach. FSB Technology has contributed a 15% increase in Gross Gaming Revenue (GGR) to EveryMatrix’s sportsbook division, with customer migration progressing as scheduled. This includes a new multi-year partnership with UK operator BetGoodwin, further integrating EveryMatrix’s turnkey sports and casino solutions.

Fantasma Games, an emerging casino content developer, brings innovative gaming options to the EveryMatrix portfolio. Known for its commercial and creative expertise, Fantasma’s integration introduces popular games currently live with over 250 operators across 50+ countries. Fantasma’s established market distribution, particularly in North America, aligns with EveryMatrix’s goal of strengthening its presence in high-growth regions.

Exceptional Growth in Core Business Units

EveryMatrix’s Casino division recorded a 12th consecutive record quarter, with operator partner GGR reaching €709 million in Q3, up 53% YoY, and annual GGR growth of 63%. Casino net revenue improved to €23.8 million, a 78% increase, while EBITDA rose by 95% to €14.9 million. SlotMatrix, EveryMatrix’s aggregation platform, introduced 970 new games and integrated 10 new vendors, establishing it as the market leader with over 170 suppliers.

In the sportsbook sector, OddsMatrix achieved an 87% YoY increase in turnover, totaling €1.5 billion for Q3. Annual GGR grew by 158%, reaching €361.9 million, with quarterly net revenue up 85% to €11.7 million. The platform saw a 14% increase in live events and a significant 225% increase in total bets.

EveryMatrix’s platform division also experienced strong results, with Q3 net revenue up 30% YoY to €8.1 million and successful deployments like GamMatrix’s launch in Peru. The platform processed up to 400,000 bets per minute during peak hours, up 18% from the previous quarter.

In the affiliate sector, PartnerMatrix launched a new integrated website, bringing affiliate software and intelligence tools under one solution. The unit now serves 82 clients, with net revenue reaching €1.4 million in Q3, an increase of 13% YoY.

Notable Q3 2024 Highlights

• FSB Technology Integration: Expansion of trading and migration of customers to EveryMatrix technology.
• Tier-1 Partnership in Africa: Won Mbet as a client following FSB acquisition.
• Fantasma Games Acquisition: Strengthens Games unit with new offices in Stockholm and Sofia.
• Pinnacle Partnership: Casino platform technology live with tier-1 operator Pinnacle.
• GamMatrix Launch in Peru: Platform operational with full regulatory certifications.
• PartnerMatrix Website Relaunch: Consolidated affiliate management and tracking under a unified platform.
• LoyaltyEngine Introduction: Advanced module for player engagement with rewards and leveling systems.
• Industry Recognition: Named Multi-channel Supplier of the Year at SBC Awards and Starlet Awards.
• Leadership Expansion: Kevin Furlong appointed as Group Chief Product Officer.
• Academy for Heroes Initiative: NGO to assist veterans in developing IT careers.

The company’s recent growth and strategic investments position EveryMatrix as a robust leader in iGaming, poised for continued expansion across regulated markets globally.

Ebbe Groes, Group CEO of EveryMatrix, said: “The last few months have been some of the busiest since we founded the company 16 years ago; continuing to drive record GGR for our customers, launching more tier-1 operators and making two significant acquisitions that have instantly added value to the wider Group and that will futureproof both our sports and games divisions.

“As a result of these deals we expect to see even more growth and profitability as we migrate more FSB customers to our technologies and our Games division accelerates production and distribution to become a significant global studio.

“We are the clear frontrunner when it comes to being the fastest growing iGaming supplier.”