iGaming supplier EveryMatrix announces the appointment of Staffan Cnattingius as its new Director of Business Development for Latin America markets. The iGaming veteran will oversee the company’s expansion in Latin America and manage the commercial efforts as a part of the Global Sales team.
Having spent over two decades in the gambling industry serving in managerial roles in both online and land-based casino operations, Staffan Cnattingius is an expert in the Latin American gambling world. The new Director of Business Development joins EveryMatrix after successful tenures at Play’n GO, Copacabana Gaming, and QTech, among others.
With broad experience servicing European Tier-1 operators, EveryMatrix is a B2B provider offering an in-house proprietary turnkey platform, including casino, sports, affiliate management and payments solution. The organisation is set to strengthen its market position in Latin America and also in the United States in the upcoming years. Recently, the company opened its first U.S. commercial hub in Miami, Florida, which plays a pivotal role in growing its footprint in the region.
Erik Nyman, President Americas at EveryMatrix, comments: “I am excited to have Staffan joining our Americas team. He comes with unique experience, in-depth product knowledge, relationships and not least an impressive track record of success in Latin America. His professional experience will enable EveryMatrix’s goal of becoming the leading turnkey provider in the region. Staffan is the right man for the job, and I wish him welcome aboard.”
Staffan Cnattingius, Director of Business Development for Latin America at EveryMatrix, adds: “I’m delighted to be joining EveryMatrix during such an exciting phase of growth in regions I know so well. The company has a remarkable content suite and great coverage in both casino and sports, all delivered via a stellar platform built on amazing technology. But more importantly, EveryMatrix has a fantastic team and great organisational culture, which I’m looking forward to being a part of.”
EveryMatrix reports strong Q2 performance
B2B iGaming technology provider EveryMatrix announces strong results for Q2 of 2022.
EveryMatrix’s Q2 update shows financial performance ahead of expectations and Gross Profit growth across all business segments (Casino, Sports, and Platform) against the same period in 2021, a strong global sales performance with a significant contract signed, good cash balance, and a successful acquisition.
FINANCIAL PERFORMANCE AHEAD OF EXPECTATION
Gross Profit (Gross Revenue less direct costs to game suppliers) increased by 17% Y/Y in Q2 2022 to €14.9 million (12.7) with a 4-year CAGR of 35%. While the regulatory changes in Germany impacted Gross Profit in the Casino segment, that segment still grew by 11% Y/Y thanks to the company’s product diversification and broad client base.
EBITDA held at €5.2 million (5.2) as the company continues to reinvest positive cash flow into future growth. Key investments remain U.S. expansion and the quarter saw the acquisition of retail sports betting supplier Leapbit, bringing in nearly 20 new staff and a Croatian office.
The EBITDA/Gross Profit margin was 35%.
Net Cash grew from €11.1 million at the end of Q1 2022 to €15.2 million in Q2 2022. The Company is reinvesting positive cash flow into future growth and remains debt-free.
Ebbe Groes, Group CEO of EveryMatrix, says: “Driven by our diverse product offering and strong client base, we saw yet another record number of new client wins in the quarter with 43 deals signed across all products. Furthermore, a 17% increase in Gross Profit, the best reflection of the underlying performance of the Group, allows us to continue to invest in our future growth.”
STRATEGIC ACQUISITION FINALISED
In May 2022, the company successfully finalised the acquisition of sports betting developer Leapbit. The merger strengthens the Group’s sports betting product OddsMatrix with an advanced and proven retail offering.
OddsMatrix will fully incorporate Leapbit’s comprehensive retail-focused software solution and other products such as virtual horse racing and lottery games. As such, the company elevates its online-first OddsMatrix sport betting platform to a true omnichannel iGaming solution to operators with retail presence.
Commenting on the largest acquisition to date, Ebbe Groes, says: “OddsMatrix is one of the company’s three pillars and is growing at a tremendous rate already. Retail is a big component of any comprehensive sports betting suite, and by integrating Leapbit’s technology, we will take OddsMatrix to become a leader of true omnichannel sports in regulated markets.”
KEY MILESTONES IN Q2
- New client wins record with 43 deals signed across all products in Q2 2022.
- Reached 90% of Total Deal Value from 2021 for client wins in only 6 months.
- 4 new Tier 1 clients secured with 888casino and BetMGM in the U.S., and in Europe, the National Lottery of Malta and one of the top operators in Italy.
- 2 key clients in regulated markets, Germany and Romania, went live with CasinoEngine.
- 54 new brands went live with SlotMatrix.
In Q1 2022, the Company initiated a determined welfare support programme for its Ukrainian staff. During Q2 2022, the Company offered continuous support to Ukrainian staff and large donations to supporting causes. At the period end, operations remain unaffected, and staff are now returning to Ukraine.
LARGE CLIENT SIGNING AFTER END OF Q2
In July 2022, B2B platform provider EveryMatrix and German-based operator bet-at-home agreed on the delivery of the supplier’s comprehensive turnkey solution. The Frankfurt-listed operator will replace its existing proprietary platform with EveryMatrix’s tech stack.
This includes a modern sportsbook, casino platform, player management, payments module, and affiliate software. The agreement covers all the markets where bet-at-home is currently present, including their core regulated German market.
“This landmark agreement reflects the breadth and depth of our products, but especially the quality of our sports platform, OddsMatrix. The constant investment and development in OddsMatrix have been at the core of what we do for many years, and I’m happy to see more Tier 1 operators joining our client list.” concludes Ebbe Groes.
bet-at-home selects EveryMatrix as turnkey platform provider
B2B platform provider EveryMatrix and German-based operator bet-at-home have agreed on the delivery of the supplier’s comprehensive turnkey solution. The Frankfurt-listed operator will replace its existing proprietary platform with EveryMatrix’s tech stack.
EveryMatrix will supply bet-at-home with its comprehensive turnkey solution, including a modern sportsbook, casino platform, player management, payments module, and affiliate software. The agreement covers all the markets where bet-at-home is currently present, including their core regulated German market.
With 5.5 million registered customers, bet-at-home is a household name in Germany, Austria, and many other European markets. The customer-centric approach and extensive product offering have contributed to the operator’s popularity since 1999.
Ebbe Groes, Group CEO of EveryMatrix, says: “bet-at-home has dominated the sports betting vertical in several European markets, and we’re delighted to further contribute to their success. They have a massive brand, and I’m certain that the combination of their extensive market and product knowledge and our technology will be a winning one. EveryMatrix will learn and grow from this, and honestly, I can’t wait to get started!
“This landmark agreement reflects the breadth and depth of our products, but especially the quality of our sports platform, OddsMatrix. The constant investment and development in OddsMatrix have been at the core of what we do for many years, and I’m happy to see more Tier-1 operators joining our client list.”
Marco Falchetto, CEO of bet-at-home, comments: “bet-at-home is a very strong, even household brand with 20+ years of experience. Selecting EveryMatrix as our platform provider will further allow us to keep providing the best service to our 5.5 million registered players while enhancing our operations in key markets. This partnership will boost not only Sports, but also Casino. With this partnership, a new and exciting phase of bet-at-home development can begin.”
EveryMatrix selected as the Online Provider for the National Lottery of Malta
iGaming software provider EveryMatrix and National Lottery plc, a subsidiary of IZI Group plc, have signed an agreement through which the supplier has been selected to provide online games to the National Lottery of Malta.
National Lottery plc recently won the concession to manage and operate the national lottery of Malta. For the first time in 18 years, the Maltese National Lottery will be run by a fully-owned Maltese company.
National Lottery plc chose International Game Technology (IGT) as its lottery technology provider, and EveryMatrix will supply the lottery with its suite of online products. EveryMatrix will integrate the IGT retail transaction engine into its CasinoEngine solution, the iGaming Integration Platform, via IGT’s Aurora Anywhere, making all of the National Lottery’s draw-based games available online, on both desktops and mobile devices.
Ebbe Groes, Group CEO of EveryMatrix, says: “We are very proud to be able to support National Lottery plc in this way. We believe the benefits delivered by our system will enable the national lottery to safely channel Maltese players away from illegal or abusive secondary lotteries. The integration of the world’s no. 1 lottery system provider speaks volumes about the performance of our platform.”
Franco DeGabriele, CCO of National Lottery plc, comments: “After 18 years since the privatisation of the national lottery of Malta in 2004, the lottery will be operated for the first time by a wholly-owned Maltese company, whose mission is to provide the market with a service that is local, innovative and of the highest levels of quality.
“We will invest in the systems to ensure the service offered meets the highest standards and is built on the most rigorous compliance frameworks. Our digital innovation will put Malta on the global map, and we will work closely with the authorities to eradicate all forms of lottery abuse.”
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