Strong first quarter earnings reported by EveryMatrix
Unleashing EveryMatrix's Q1 2025 Hype: A Wild Ride of Revenue, Innovation, and Growth
If you think EveryMatrix was on fire in 2024, strap in, because the iGaming giant is kicking 2025 off with a bang! The company's first quarter brought a whopping 39% YoY net revenue increase, reaching a staggering €54 million, with EBITDA skyrocketing 27% YoY to €28 million.
The powerhouse company's sports division demonstrated jaw-dropping growth, with quarterly turnover surging 30% YoY to a mind-boggling €1.7 billion, while GGR skyrocketed 60% YoY to €154 million. The casino division continued to lead the charge, contributing more than half of the total group revenue.
Milestones Galore: A Promising Year Ahead
Highlights of the first quarter included the migration of Bet600, the first full turnkey FSB Technologies customer in the UK, to the EveryMatrix platform. EveryMatrix plans to have all clients fully migrated in 2025, realizing substantial cost synergies from the key acquisition.
The company also launched its groundbreaking Horse Racing solution, combining FSB's proven expertise with the innovation of OddsMatrix development teams. This offering provides global horse racing coverage, rich Racecard content, and live streaming integrations, among other features.
A landmark deal was signed to deliver a full casino turnkey platform solution to SkyCity Entertainment Group, one of New Zealand's largest entertainment companies. This migration from their current provider to EveryMatrix is set for later this year.
Innovation and Growth Across the Board
The sports division's success continued unabated, breaking record after record. The quarter saw a record number of nearly 600,000 live events, a 24% YoY increase.
Casino remained the top revenue contributor, with net revenue climbing 44% YoY to €28.6 million and EBITDA rising 29% YoY to €16.8 million. Casino GGR grew by 22% YoY to €753 million, with the last twelve months reaching an impressive €2.9 billion, a 38% YoY increase.
GamMatrix, the company's Gaming and Player Account Management Platform, experienced a net revenue increase of €8.6 million, although EBITDA saw a 23% decrease YoY due to a change in internal revenue allocation. However, the EBITDA margin remained at an impressive 52%.
Groes' Excitement for the Year Ahead
Ebbe Groes, EveryMatrix's Group CEO, expressed his enthusiasm for 2025, stating that, "I'm very excited for 2025. Q1 was a solid quarter, a great start, and the rest of the year looks just as promising.
"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 Achievements
- Record net revenue and EBITDA growth
- Migration of Bet600 from FSB to EveryMatrix platform
- Groundbreaking Horse Racing product launch
- Deal signed with SkyCity Entertainment Group for a full casino turnkey platform solution
- Launch of three dedicated blackjack tables for PlayMatrix live dealer product
- OddsMatrix sports feeds partnership with LeoVegas Group
- Winning Norsk Tipping's Casino and eInstant RFP, the largest-ever SlotMatrix deal
- Launching SlotMatrix casino content with Caesars Entertainment across five U.S. states
- Introduction of new Odds Models for Football and Handball, as well as enhanced retail Self Service Betting Terminals (SSBTs)
- Launching real-time Rakeback through LoyalityEngine
- Onboarding 14 new casino vendors, now totalling 185+ and 345+ content providers
- Signing 20 new PartnerMatrix clients
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- EveryMatrix plans to have all clients fully migrated to their platform by 2025, realizing substantial cost synergies from the key acquisition.
- The company launched its groundbreaking Horse Racing solution in Q1 2025, combining FSB's proven expertise with the innovation of OddsMatrix development teams.
- In Q1 2025, EveryMatrix signed a landmark deal to deliver a full casino turnkey platform solution to SkyCity Entertainment Group, one of New Zealand's largest entertainment companies.
- Ebbe Groes, EveryMatrix's Group CEO, expressed his enthusiasm for 2025, stating that the rest of the year looks just as promising, citing the ongoing growth and innovation in their sports division.
