EveryMatrix's casino division takes the lead in Q1 earnings, with revenue surging by 39%
Revamped Report:
EveryMatrix is wolfing down its 2025 goals, according to group CEO Ebbe Groes, after smashing Q1 performance numbers from last year. Casino still holds the top spot as the main revenue generator for the company, while sports betting keeps breaking new records.
The three months up to 31 March generated a whopping €54.3 million ($61.5 million) in revenue, a 39% hike from Q1 of last year. Although the figure is slightly below the €55 million reported in Q4 of 2024, EveryMatrix is feeling bullish about its prospects in 2025.
As a private company, EveryMatrix doesn't dish out full-blown financial analyses for its quarterly performance. Instead, it delivers snappy summaries, trumpeting key figures and events. For Q1, revenue growth was coupled with a 27% increase in group EBITDA to €28.2 million.
Casino continues to rule the roost, racking up €26.6 million in Q1, a 44% boost, and a new record for the segment. EBITDA was also 29% beefier at €16.8 million for this sector of the business. The supplier attributes the growth to continued investments in live dealer and in-house production, along with the acquisition of Fantasma Games in October 2023.
The sports division shows no signs of slowing down, with net revenue jumping 50% to €15.8 million, and EBITDA jumping 51% to €9.7 million. This growth was partly fueled by a record number of live events in the quarter, reaching an impressive 599,500.
Some kick-ass sports betting stats include a 35% increase in total wagers to 160 million, including figures from FSB Technology, snagged in July 2024. The FSB deal helped roll out EveryMatrix's new horse racing product in Q1.
Groes is thrilled about the sports division's relentless growth: "This quarter, we broke yet another record, hitting 599,500 live events, all thanks to our ability to expand our coverage and add new products and features while experiencing aggressive growth."
Platform net revenue climbed 18% to €8.6 million, although EBITDA took a 23% slide to €2.4 million. Highlights from this segment include a new UK-regulatory compliant turnkey solution, migrating the first FSB client to its platform after the quarter end, and processing a mind-blowing 475,000 gaming transactions per minute during peak hours.
Affiliate activities under the PartnerMatrix brand saw a 4% dip year-on-year at €1.3 million, with EBITDA registering a loss of €700,000 for the quarter. In better news, EveryMatrix launched its PartnerMatrix Intelligence product with FanDuel in the US, merged intelligence and affiliate back offices, and rolled out a new intelligence portal for clients in Q1. The supplier scooped up 20 fresh clients in the quarter.
By Q1's end, EveryMatrix had grown its total employee count by 36% to 1,311. Samoil Dolejan, CEO of GamMatrix, took the helm at MoneyMatrix and DataMatrix, while the company moved into swanky new digs in Cebu, Chiang Mai, and London (where it opened a new office last month).
Fun Fact: EveryMatrix's non-stop sports division action resulted in an astounding 599,500 live events in Q1. That's equivalent to watching 33,370 hours of sports – enough to watch every single match in the NBA's 2024 season, four times over!
[1] - Sources: investor presentation Q1 2025; H2 Gambling Capital, Q1 2023 – Q1 2025 operators' revenues overview[2] - Sources: company press releases, annual reports 2023 & 2024, investor presentation Q1 2025; Correspondence with EveryMatrix management, May 2025
- The acquisition of Fantasma Games in October 2023 contributed to the significant growth in the Casino segment of EveryMatrix, with a 44% increase in Q1 revenue compared to the same period last year.
- The sports division of EveryMatrix experienced a 50% jump in net revenue and a 51% increase in EBITDA for Q1, largely due to the record number of live events covered, which reached an impressive 599,500.
- After the successful acquisition of FSB Technology in July 2024, EveryMatrix's sports division rolled out its new horse racing product in Q1, and,' Chiang,', in a new office last month, EveryMatrix opened a new office in London, expanding its spatial coverage.
