B2B iGaming technology provider EveryMatrix announces strong results for Q3 of 2022.
EveryMatrix’s Q3 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 quarter in sales, two global operator launches, and a strong cash balance.
FINANCIAL PERFORMANCE AHEAD OF EXPECTATION
Gross Profit (Gross Revenue less direct costs to game suppliers) increased by 33% Y/Y in Q3 2022 to €16.8 million (14.9) with a 4-year CAGR of 35%. EveryMatrix is now lapping the full Germany effect, and the strong comparable figures reflect the core business’ continuous growth.
EBITDA increased to €6.4 million (5.2) as the company continues to reinvest positive cash flow into future growth. Key investments remain U.S. expansion and the games segment of the business.
The EBITDA/Gross Profit margin was 38%, growing after successful cost control and profit growth.
RECORD GROSS PROFIT IN CASINO
The casino unit enjoys the best Gross Profit in a quarter (7.7m), with 31% YoY growth.
During Q3, EveryMatrix was awarded the public tender for “Online Casino Games as a Service” to provide the Finnish state-owned gaming and lottery monopoly Veikkaus with a vast library of casino content, including the SlotMatrix Exclusive content.
Ebbe Groes, Group CEO of EveryMatrix, says: “I am pleased to see a fantastic third quarter, with global sales performance and very good financial results. Even more important, we won two new Tier-1 clients in the quarter, Veikkaus in Finland and bet-at-home in Germany and international markets.
“EveryMatrix launched with BetMGM in the U.S. and Morroco’s state-owned lottery MDJS. The Group’s record Gross Profit across all business segments clearly underlines our strong market position.”
KEY MILESTONES IN Q3
- Record traffic from clients on all products, surpassing a total of €100m GGR in September.
- Live in 18 regulated markets on its own RGS, with the addition of Argentina.
- The first U.S. client, BetMGM, went live with SlotMatrix, the Group’s casino content aggregator.
- 2 Tier-1 client wins: bet-at-home turnkey deal and Veikkaus public tender for “Online Casino Games as a Service”.
- Landmark launch with Morocco state lottery, MDJS.
- Launch of our first-ever Crypto Casino project.
- 14 New casino deals signed and 22 new client launches.
- 11 New sports client wins and 18 new affiliate platform deals signed.
- Secured market entry in Ontario.
In Q1 2022, the Company initiated a determined welfare support programme for its Ukrainian staff. During Q2 and Q3 2022, the Company offered continuous support to Ukrainian staff relocating abroad and large donations to supporting causes. At the period end, operations remain unaffected, and staff are now largely returning to Ukraine.
EveryMatrix wins Hungarian lottery tender for online sportsbook platform and services
The Hungarian national lottery company, Szerencsejáték Privately Held Company Limited, becomes EveryMatrix’s sixth global lottery client and coincides with the launch of the country’s online sports betting regulation.
B2B iGaming technology provider EveryMatrix has been awarded the public tender to provide the Hungarian state-owned gaming and lottery operator Szerencsejáték Privately Held Company Limited with an end-to-end suite of advanced digital sports betting software solutions and services for its online brand TippmixPro.
Designed to create the ultimate online sports betting experience in the newly regulated market, the multi-year agreement was awarded to EveryMatrix after a 15-month competitive procurement process with more than 25 bidders.
EveryMatrix technology will transform the Hungarian national lottery company and its TippmixPro brand’s digital sports betting offering by integrating its award-winning OddsMatrix sportsbook platform and data feeds ensuring maximum productivity, stability, and scalability.
In addition, EveryMatrix will provide a full range of state-of-the-art turnkey software solutions and services across player account management; virtual sports; bonusing, acquisition, retention, and reactivation; payments and affiliate management.
The agreement comes at the ideal time for Szerencsejáték Privately Held Company Limited following the Hungarian government’s decision to regulate online sports betting which went live on January 1st, 2023.
EveryMatrix has won several World Lottery Association (WLA) and European Lotteries (EL) agreements including Norsk Tipping (Norway), OPAP (Greece), National Lottery (Malta) and Veikkaus (Finland).
Launched in 1991 Szerencsejáték Privately Held Company Limited is a leading operator in the Hungarian online sports betting market and one of the largest businesses in the country. It is a member of the WLA and offers multiple products including lottery games, lottery tickets and sports betting with more than 7,700 nationwide sales points.
The Hungarian national lottery company makes a significant annual contribution to the country’s stable economic growth, financing community, cultural, social, health and sporting initiatives and returns approximately two-thirds of its net gaming revenue – in the form of taxes, fees, contributions, dividends – to the state budget to finance public projects.
Stian Hornsletten, Chief Commercial Officer at EveryMatrix, said: “Since 2016 we have made significant inroads in the lottery sector and now work with some of the biggest organisations in the world, powering and servicing their digital offerings to millions of their customers.
“Winning SZRT ahead of many of our competitors yet again underlines the quality of our technology solutions, services, and expertise across multiple elements, from sportsbook and player account management to bonusing, payments and affiliate management.
“Operations are weighted highly within large-scale agreements such as this and I’m particularly pleased that our operational quality and experience shone through. We are delighted to be working in partnership with SZRT and look forward to supporting them in their digital journey this year and beyond.”
Zoltán Horváth, Sports Betting Director at Szerencsejáték Privately Held Company Limited, said: “We are very pleased to have agreed terms with EveryMatrix following a thorough and highly competitive tender process and we’re confident we have selected an ideal partner.
“We have ambitious plans to extend and enhance our sports betting offering at a time of market regulation to create the ultimate entertainment experience for Hungarian players, and we firmly believe we will achieve this through this partnership.”
OddsMatrix integrates Kiron Virtual Sports
OddsMatrix Data Feeds has officially integrated virtual games from global technology and software company Kiron Interactive.
Powered by EveryMatrix, OddsMatrix Sports Data Feed is a complete and time-tested solution for delivering betting odds, scores, and real-time settlement, with 100,000+ live events at peak, covering all major sports and esports events.
The OddsMatrix Sports Data Feeds clients can now access odds, streaming, and settlement for over ten premium virtual sports from Kiron Interactive.
Kiron Interactive specializes in developing and supplying leading virtual sports and numbers games, boasting an impressive portfolio of premium virtual games, including Basketball Final Hoops, Dog Racing Platinum Hounds, Football Goal, Harness Racing Charging Chariots, Horse Racing Dashing Derby, Ice Hockey WHL, Steeple Chase Jumps, Stock Car Racing Maxcar, and Table Tennis Pro Pong.
OddsMatrix Data Feeds, EveryMatrix’s sports data solution, is designed to provide all the necessary tools for operators to expand their sports business and increase profits. Being completely customizable, OddsMatrix data services offers flexibility, support, and monitoring tools, the key aspects needed to drive betting engagement, improve product performance, and enhance sports and esports betting offerings.
Alexander Jones, Business Development Officer at OddsMatrix, says: “We’re delighted to add Kiron’s virtual sports into our Data Feeds product suite. The virtual sports betting scene has grown into an important betting vertical in recent years. We’re positive that Kiron’s extensive experience and impressive portfolio of virtual sports will be a great addition to the OddsMatrix sports data offering.”
Steven Spartinos, Co-CEO at Kiron Interactive, comments: “Partnering with a trusted and valued brand like OddsMatrix will put our content in front an increasing number of new customers and the potential for revenue growth that goes with it. We’re committed to providing the industry’s best virtual sports experience and collaborating with the right partners across regions and verticals helps us achieve that.”
PartnerMatrix inks new affiliate channel deal with AdmiralBet
PartnerMatrix is proud to announce a new partnership with the established Serbian sports betting and casino platform, AdmiralBet.
Together with PartnerMatrix, AdmiralBet has launched its secure and modern affiliate channel, allowing partners and affiliates to raise the brand’s awareness by showcasing its products to a broader audience and engaging relevant traffic.
AdmiralBet is famous for its rich and modern gaming platform, gaining popularity in the Serbian market with its cutting-edge online sports betting offers. The brand also covers casino verticals while keeping clients active with numerous interesting bonuses and tournaments.
Levon Nikoghosyan, CEO of PartnerMatrix, comments: “Thanks to this agreement, PartnerMatrix is not only partnering with an established and respected brand but also entering the Serbian market, which already has a developed and legislated gaming market. With our latest features and system updates, we are looking forward to a productive cooperation with AdmiralBet’s team.
“AdmiralBet is well-known for its dynamic and modern sports betting solutions, and with the help of PartnerMatrix, I believe the company will create a more efficient traffic generating strategy, greatly expanding their audience.”
Milan Djurmez, Head of Online Gaming at AdmiralBet, adds: “Affiliate Marketing is a new channel for us, but one that we reckon is an absolute necessity for enhancing our outreach. PartnerMatrix seemed to be the software that fit our needs the best and ticked all the boxes. We’re all-in with this, and I’m sure that the results will be worthy of all efforts and investments.“
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