Casino significantly boosts EveryMatrix's Q1 earnings by 39%
EveryMatrix is rocking and rolling in 2025, with CEO Ebbe Groes predicting a beat on last year's "phenomenal" performance. The company's Q1 revenue and EBITDA grew year-on-year, and casino made up more than half of the group's earnings, while sports betting broke record after record.
Net revenue for the period hit €54.3 million, up 39% from Q1 of last year. Yet, it falls slightly short of the €55 million reported in Q4. As a private company, EveryMatrix didn't release a full financial review for the quarter. But it did note a 27% rise in group EBITDA to €28.2 million.
Groes believes the Q1 results suggest the company could surpass 2024's impressive levels in 2025. He stated, "I'm very excited for 2025. Q1 was a solid quarter, a great start, and the rest of the year looks just as promising."
Casino and Sports Betting on the Rise
EveryMatrix highlighted growth in both its casino and sports betting segments in the report. Casino remains the primary revenue source, generating €26.6 million in Q1, a rise of 44%. The company attributed this success to continued investments in live dealer and in-house production, including the launch of two new games and its first three dedicated blackjack tables. The acquisition of Fantasma Games last October also played a part.
Turning to sports betting, net revenue climbed 50% to €15.8 million, with EBITDA up 51% to €9.7 million. EveryMatrix linked this growth to a record number of live events in the quarter, reaching almost 600,000, and the total number of wagers jumping by 35%. This figure includes figures from FSB Technology, which EveryMatrix purchased in July 2024. The deal allowed the company to roll out its new horse racing product in Q1.
Platform Growth and Affiliate Decline in Q1
In other segments, platform net revenue climbed 18% to €8.6 million, though EBITDA was down 23% to €2.4 million. The company launched a new, UK-regulatory compliant turnkey solution, migrated the first FSB client to its platform after the quarter end, and processed 475,000 gaming transactions per minute during peak hours, 5% higher than the previous quarter.
On the other hand, net revenue from Q1 affiliate activities under the PartnerMatrix brand was 4% lower year-on-year at €1.3 million. EBITDA came in at a loss of €700,000 for the quarter. However, EveryMatrix signed up 20 new clients in the quarter, launched PartnerMatrix Intelligence with FanDuel in the US, and merged intelligence and affiliate back offices to improve its offering.
By the end of Q1, EveryMatrix had increased its total employee count by 36% to 1,311. Samoil Dolejan, CEO of GamMatrix, took over leadership of payments arm MoneyMatrix and DataMatrix, and the company moved to new offices in Cebu, Chiang Mai, and London, where it opened a new office last month.
With ongoing innovation and strategic acquisitions and partnerships, EveryMatrix is well-positioned for a standout 2025. The company's solid Q1 performance, coupled with broader industry growth trends, bodes well for a year marked by robust financial results and strategic expansion. CEO Ebbe Groes remains optimistic about replicating or surpassing the remarkable performance of 2024.
- EveryMatrix expanded its technology portfolio in Q1 2025 with the acquisition of FSB Technology, which contributed to the growth in sports betting revenue and facilitated the rollout of a new horse racing product.
- The CEO of GamMatrix, Samoil Dolejan, assumed leadership of MoneyMatrix and DataMatrix, focusing on advancements in payment solutions within the company.
- EveryMatrix boldly ventured into new territories, opening a new office in London during Q1 2025, thus enhancing its global presence and potential for greater coverage and partnerships in the thriving tech and gaming industry.
