EveryMatrix CEO confident on full-year growth after positive Q1

Record Performance Fuels Growth at EveryMatrix in Q1

EveryMatrix continues to demonstrate robust growth in the gambling industry, positioning itself for an exceptional 2025 after delivering encouraging results in Q1. According to Group CEO Ebbe Groes, the company’s casino division played a pivotal role in driving over half of the group’s revenue during this period, while the sports betting segment consistently set new benchmarks.

For the three months ending March 31, EveryMatrix reported a net revenue of €54.3 million ($61.5 million), marking a remarkable 39% increase compared to the same period last year. However, this figure slightly fell short of the €55 million achieved in Q4.

As a private entity, EveryMatrix does not provide a comprehensive financial review for its quarterly performance. Instead, it publishes a summary that emphasizes key metrics and significant events, revealing a concurrent 27% increase in group EBITDA, which rose to €28.2 million.

Despite setting record numbers in 2024, Groes expressed confidence that the company’s Q1 results indicate the potential to exceed these benchmarks in 2025. “I’m very excited for 2025,” Groes stated. “Q1 was a strong start, and the outlook for the remainder of the year is equally promising. Although 2024 was phenomenal, I believe the momentum we’ve established will propel us even further.”

Casino Division Drives Impressive Growth

In its report, EveryMatrix highlighted substantial year-on-year growth in both its casino and sports betting segments, with the casino division emerging as the primary revenue source. Generating €26.6 million in Q1, this segment experienced a 44% increase, setting a new quarterly record, with EBITDA also rising by 29% to €16.8 million.

This growth can be attributed to ongoing investments in live dealer offerings and in-house game production, which included the launch of two new titles and the introduction of dedicated blackjack tables. Additionally, the acquisition of Fantasma Games in October last year facilitated these advancements.

In sports betting, net revenue soared by 50% to €15.8 million, while EBITDA improved by 51% to reach €9.7 million. This growth was driven by an unprecedented number of live events—nearly 600,000—during the quarter.

The total number of wagers also surged by 35% to 160 million, inclusive of figures from FSB Technology, acquired in July 2024. This acquisition enabled EveryMatrix to launch its new horse racing product in Q1. “Our sports division continues to break records,” Groes remarked. “Achieving 600,000 live events this quarter underscores our ability to enhance coverage and introduce new features amid sustained growth.”

Platform Growth Amidst Affiliate Challenges

In other segments, platform net revenue grew by 18% to €8.6 million, although EBITDA declined by 23% to €2.4 million. Key developments included the introduction of a UK-compliant turnkey solution and the migration of the first FSB client to its platform after the quarter concluded.

The company’s PAM wallet system processed 475,000 gaming transactions per minute during peak hours, reflecting a 5% increase from the previous quarter.

Conversely, net revenue from the PartnerMatrix affiliate brand declined by 4% year-on-year to €1.3 million, accompanied by an EBITDA loss of €700,000. To enhance its affiliate offerings, EveryMatrix launched the PartnerMatrix Intelligence product in collaboration with FanDuel in the US and integrated its intelligence and affiliate back offices. This initiative was complemented by the rollout of a new intelligence portal for clients, resulting in 20 new client registrations during the quarter.

By the end of Q1, EveryMatrix increased its workforce by 36%, bringing its total employee count to 1,311. Samoil Dolejan, CEO of GamMatrix, has taken the helm of the payments division, MoneyMatrix, as well as DataMatrix. Moreover, the company has expanded its physical presence with new offices in Cebu and Chiang Mai, and returned to London, where it opened a new office last month.