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EveryMatrix Press Releases

EveryMatrix and Kindred sign games distribution agreement for the U.S.

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EveryMatrix and Kindred sign games distribution agreement for the U.S.
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iGaming technology supplier EveryMatrix and global gambling operator Kindred Group have completed an agreement for casino content distribution across the U.S.

Listed on the NASDAQ Nordic Stock Exchange in Stockholm, Kindred Group is a highly reputable entertainment company operating nine global and local brands catering to more than 30 million customers around the world.

Kindred Group will expand its current casino offering by integrating EveryMatrix’s own proprietary games from Spearhead Studios and Armadillo Studios. Through this integration, Kindred will have the option to add more vendors as they become available through the supplier’s iGaming Integration Platform, CasinoEngine, which features the largest library of content in the industry supported by a comprehensive cross-vendor bonusing system.

Erik Nyman, President Americas at EveryMatrix, says: “Kindred Group is one of the earliest adopters of iGaming and sportsbook globally and been very successful since the inception. We are very pleased to become their trusted partner in the U.S. market.

“We will be supplying a large selection of games to appeal their U.S. players through our iGaming Integration Platform, CasinoEngine. This partnership further enhances EveryMatrix position to become the leading technology provider in America and we trust Kindred’s players will enjoy our games portfolio and bonus features.”

Manuel Stan, SVP USA at Kindred Group, comments: “We are very excited to partner up with EveryMatrix and bring the top-quality content from Spearhead Studios and Armadillo Studios to our U.S. customers, in our intent to bring a best-in-class Casino offering to the U.S.”

EveryMatrix has started a string of investments into the gaming development sector in 2019 by launching Spearhead Studios, and continued to invest this year in the U.S.-facing Armadillo Studios and support publicly listed Lady Luck Games.

EveryMatrix considers U.S to become the largest regulated online gaming market in world over the upcoming years and is heavily investing in licensing efforts to gain access. As a part of the Group’s U.S. extension plans, EveryMatrix is engaged in multiple licensing processes, including in New Jersey and Pennsylvania where Kindred operates.

 

EveryMatrix Press Releases

EveryMatrix wins Veikkaus public tender for Online Casino Games as a Service

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EveryMatrix wins Veikkaus public tender for Online Casino Games as a Service
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B2B iGaming technology provider EveryMatrix has been awarded the public tender to provide the Finnish state-owned gaming and lottery monopoly Veikkaus with a vast library of casino content.

The six years agreement was awarded to EveryMatrix after a competitive procurement process. Veikkaus will integrate the supplier’s CasinoEngine solution, the iGaming Integration Platform, and source a catalogue of 65 game providers, with more to be added in the upcoming years.

EveryMatrix will also distribute proprietary content from its gaming studios, Spearhead Studios and Armadillo Studios, and content from its exclusive SlotMatrix partners, among other top premium vendors.

With over 2 million loyal customers, the Finnish monopoly Veikkaus is a member of the World Lottery Association (WLA). The operator is directing its revenues to the benefit of the Finnish society. Veikkaus supports a wide range of social causes in the fields of culture, sports, science, youth work, social welfare, and health.

Stian Hornsletten, Chief Commercial Officer of EveryMatrix, says: “Winning Veikkaus as a client marks another major milestone for EveryMatrix. We are already working with several other state-owned monopolies and have enough experience in the field to deliver the best service to Veikkaus. Our team looks forward to supporting Veikkaus in their journey, and we are keen to get started as soon as possible.”

Jan Hagelberg, Chief Product Officer at Veikkaus, comments: “We are very happy and look forward to starting cooperation with EveryMatrix. Veikkaus is constantly improving its offering to stay as number one operator for Finnish casino players. While serving our players with the best customer experience and safest online casino available, providing best entertainment experiences is at the core of our philosophy. EveryMatrix’s full-service platform offers us one of the industry’s best catalogues of games, including its proprietary in-house portfolio.”

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EveryMatrix and Intralot launch landmark new website for Morocco state lottery, MDJS

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EveryMatrix and Intralot launch landmark new website for Morocco state lottery, MDJS
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Following a landmark agreement inked in April of 2022, EveryMatrix and Intralot have delivered a new online solution to MDJS (La Marocaine des Jeux & des Sports en Ligne). The new MDJSJeux.ma was launched on September 6, 2022.

Intralot is one of the pioneers in the Lottery and Gaming sector, with a comprehensive portfolio of products across the lottery and betting verticals and the incumbent provider to MDJS, the stated owned operator offering sports betting and other games of chance in Morocco. Intralot and EveryMatrix have delivered a bespoke interactive solution to MDJS.

With more than thousands of points of sale across Morocco, MDJS has now enhanced its online betting platform for the only legal sports betting brand in the country.

EveryMatrix provides its OddsMatrix, a leading fully managed sportsbook solution, GamMatrix PAM, paired with additional content like lottery games from Intralot, virtual sports, and instant games from CasinoEngine, the provider’s Integration and Productivity Platform. EveryMatrix also handles KYC and payments through its platform solution and supports MDJS’s marketing and operational efforts through its Managed Services division.

Ebbe Groes, CEO of EveryMatrix, says: “This new agreement will open the door to EveryMatrix’s expansion beyond Europe, where we have a particularly strong position. We’re committed to increasing our footprint in sports betting, especially in the WLA space, where our platform is a natural fit.

“The partnership with Intralot and MDJS marks a milestone for our sports division, and I’m beyond thrilled to be working together with such renowned names. EveryMatrix is committed to supporting its clients and partners with the best-in-class technology. We’ll continue our string of investments in our portfolio to ensure Intralot and MDJS offer truly spectacular player experiences to their punters with the next step being the integration of Intralot lottery games for online sales on the MDJS website.”

Mohammed Karim EL Yaakoubi, General Manager of Intralot Maroc, comments: “With this agreement, Intralot partners with one of the leading B2B providers in the world today. With Intralot’s strong local presence and a best-of-breed retail technology, we will jointly set out to ambitiously grow the online presence of MDJS with safe, responsible, and world-class quality products. Intralot is the leading provider for the WLA sector today, and through our collaboration with EveryMatrix, we will provide better service to our valued customer, MDJS.”

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EveryMatrix Press Releases

EveryMatrix reports strong Q2 performance

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EveryMatrix reports strong Q2 performance
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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.

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