EveryMatrix eyes North America growth after major deals and acquisitions

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EveryMatrix Group CEO Ebbe Groes said the company is “the clear frontrunner when it comes to being the fastest-growing iGaming supplier” after setting another net revenue record in Q3 2024.

In its latest earnings release on Tuesday, the firm reported its sixth-consecutive profit margin of more than 50% and a new all-time quarterly high net revenue of $47.8 million across all products, up 66% year-over-year.

The company also posted an EBITDA margin of 52% and third-quarter EBITDA was up 71% from Q3 2023 to $24.4 million.

EveryMatrix put that growth down to new customer launches, continued growth in its core sports and casino business units and strong sports trading margins.

Major deals propel EveryMatrix in North America and beyond

Groes added that EveryMatrix has “ambitious” plans to build on its established partnerships with tier-one brands in North America.

The company struck its first exclusive content aggregation partnership in the U.S. by agreeing to a deal to provide Supremeland Gaming’s content to DraftKings in New Jersey in February and followed that up with a similar deal to provide Golden Nugget Online Gaming with casino content in the Garden State and Michigan.

The company also secured a license to offer online casino content in Pennsylvania, completing the set of iGaming states, and has joined the Mexican gaming association amid plans to “rapidly” expand its presence there as regulation continues to develop.

EveryMatrix also noted how two major deals in 2024, the all-cash acquisitions of FSB Technology in June and Fantasma Games in October, are already paying dividends.

FSB has added around 15% in gross gaming revenue to the Group’s sportsbook business unit volumes, and has also strengthened key areas of the business, including OddsMatrix, by doubling the trading and quants team to enhance personalization within managed odds and risk services.

Meanwhile, EveryMatrix described Fantasma as one of the fastest-growing young casino studios in the industry and noted that the integration will bring strong commercial, technical, and creative skills, as well as market distribution that will boost its presence in rapidly growing markets such as North America.

“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,” said Groes.

“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.”

EveryMatrix cites growth across all verticals in Q3

Breaking down by vertical, GGR from EveryMatrix’s casino operator partners hit a 12th-straight quarterly record at $752.8 million, up 53% year-over-year. GGR for the last 12 months is at $2.8 billion, a 63% YoY increase. E

veryMatrix’s quarterly casino net revenue improved to $25.3 million, up 78% YoY, while EBITDA nearly doubled to $15.8 million. The company’s SlotMatrix aggregation product introduced nearly 1,000 new unique game titles and 10 new vendors in 2024, numbers the company said were far more than any other aggregator worldwide.

On the sportsbook side, OddsMatrix quarterly sportsbook turnover climbed 87% YoY in Q3 and 60% YoY for the last 12 months, to $1.6 billion and €5.6 billion, respectively. Sportsbook GGR over the last 12 months has risen 158% to $384.2 million. The total number of bets placed through OddsMatrix in Q3 reached 132 million, more than triple what it was this time last year.

GamMatrix, the EveryMatrix player account management (PAM) system, processed 400,000 bets per minute during peak hours in Q3 and the number of successful payment transactions reached $4.7 billion in Q3, up 91% YoY.

Other notable moves from EveryMatrix this year included the Affiliate division, including PartnerMatrix and PartnerMatrix Intelligence, launching a new website combining affiliate software and affiliate intelligence products. Meanwhile, the company also launched LoyaltyEngine, its advanced loyalty module where players can earn XP, level up, and earn coins that can be spent in a loyalty shop.