EveryMatrix Press Releases

EveryMatrix: Proving ‘everything is possible’

Published

5 years ago

July 10, 2019

EveryMatrix: Proving ‘everything is possible’

Reading Time: 4 minutes

EveryMatrix reached an important milestone. It’s moving on from its white label and B2C origins to focus on what it does best: software provision. Ebbe Groes talks about this direction, albeit with a hint of nostalgia for what set the company apart in its formative years. Closing the chapter on what were “exciting” times and ventures, Groes is honed into the company’s new drive forward and keen to get competing in the sports space while delivering specialised solutions for iGaming as he talks candidly about the changes and the challenges ahead.

At the halfway mark of 2019, EveryMatrix CEO Ebbe Groes can safely say it’s been “a good year so far”. Over the last 6 months, the company focused on bringing onboard big names in the industry and will continue to do so. In the next few months, the software provider expects to announce yet another signing – this time, that of a very large Tier- 1 operator. “The biggest one yet on our platform”, according to Groes. However, 2019 hasn’t just been about the development of new business for EveryMatrix; it’s also been about letting go of the old.

“At the end of May, we announced the selling of our B2C operation, the Jetbull brand. We held it for a long time, almost from the start of the company, and it was time to find another home for it,” explained Groes. “And this is not the only thing we’re letting go. We are currently in negotiations to close down the white label business. Moving forward, we aim to fully concentrate on being a software provider. In the last years, we have changed our business model, meaning we have left the start-up white label space. Our entire focus is now on signing large and established operators by selling specialised products rather than turnkey solutions.”

As every online casino operator knows, the B2C market is extremely competitive. Players don’t necessarily know what they are looking for when searching for online casinos, so operators need a strong brand to be able to stand out from the crowd. On top of that, they have to navigate changing regulations and ensure their back-end lines up with licencing stipulations across numerous jurisdictions, all while maintaining a strong customer service at the frontend. All in all, it can be both hard work and an excellent opportunity, but with Every- Matrix looking to be the best software provider in the industry, the company made the decision to focus all its energy on serving its B2B clients.
“We’ve been in those [white label] areas for a while and it has served us well, but we are now in a position, which is a bit of a luxury, where we can decline this kind of business and instead work with other companies that are in that space,” continued Groes. “We can focus on being a pure software provider. This of course, still means licensing, but only as a software provider and not having operator licenses.”

Indeed, for leaving B2C in the past, EveryMatrix is free to focus on building its future. This year, that future is OddsMatrix, the company’s sports betting solution. Starting with a fully managed sportsbook, EveryMatrix added more elements to its business, brick by brick; the platform, the casino products, the payment applications, all built from scratch to ensure EveryMatrix delivers specialised and competitive products. They now rebuilt the original OddsMatrix from scratch, going back to their origins.

“This gives us the ability to finally compete properly in the sports space. The first wave is migration of all clients before the start of the new football season. This sports product is sold both as a turnkey solution and as a stand-alone product. One of the many things we did was integrate it in the same way as our casino. This makes it quite easy for our clients and any of our casino clients can take this product, it has the same API managed by us.” As well as physical sports, EveryMatrix sees a huge opportunity in the world of esports. Launching its new esports service earlier this year, the software provider has utilised the back-end of its newly rebuilt OddsMatrix product to successfully create 150 new markets in the sector – and it already has clients taking it live.

“This wouldn’t have been possible in the old system, especially in such a short time. When we’re out showing this product, we receive a lot of good feedback on this because of its depth of information. It’s nice to have an esports product to be proud of, but for me it’s been most rewarding to see how we delivered a proven concept in a completely new area to us,” added Groes. “We’ve been able to create all those markets, including automatic settlement, and everything you want in a modern sportsbook. It’s a product that really stands out for us. Luckbox is the first live client for esports, now in the public BETA stage and looking to move forward. Also, they are one of the first clients to build their front-end on the back of our sportsbook. Giving them enough flexibility has been critical. Bookee, the sports betting mobile app with a Tinder look and feel, is the other operator to be live with their own front-end on our sportsbook.”

Another excellent opportunity for EveryMatrix is in the casino business. The company developed CasinoEngine from scratch, a top casino integration and productivity platform and the largest casino content library in the industry. This solution is helping clients entering new regulated markets by handling regulatory aspects and by delivering country-specific content.

“CasinoEngine helps clients to be technically compliant. Let’s take Reality Check, the vital UK requirement which costs a lot of people a lot of money and time. If you do this as part of the casino application, which is something we can do, then you can plug this into your own platform and then be compliant for the casino part.” The prevailing philosophy that makes all this possible? Adaptability. With a slogan like ‘Everything is possible’, EveryMatrix must expand the boundaries of feasibility for its clients, opening doors – and in some cases breaking down walls – to ensure their clients have the freedom to get creative.

“The key for us as a B2B software provider is to help our clients reach their potential and unleash bold ideas,” concluded Groes. “We do not impose rigid frameworks on our clients, we listen to their needs and adapt our offering accordingly.”

Compliance Updates

EveryMatrix accelerates LatAm growth with Peru market accreditation

Published

3 weeks ago

March 26, 2024

George Miller

EveryMatrix accelerates LatAm growth with Peru market accreditation

Reading Time: 2 minutes

EveryMatrix will imminently launch a series of new customers in Peru following regulatory accreditation from the country’s Ministry of Foreign Trade & Tourism (Mincetur).

The tier-1 iGaming technology provider excels in delivering compliant solutions within regulated and emerging markets and is one of the first to be accredited in the country enabling its customers to gain early market share.

Regulatory approval will also further expand its reach across the rapidly growing Latin America market with several new customers due to launch in Peru in the coming months.

EveryMatrix is live in several LatAm markets and is significantly accelerating its regulated growth across the region with a dedicated office opening later this year.

LatAm customers have access to its entire range of proven, modular revenue-generating technology products. This includes online casino and sportsbook platforms, player account management and sports and esports odds/data feeds.

EveryMatrix clients can also select from affiliate management and optimisation software and services, gamification, bonus and loyalty features, localised content and aggregation and bespoke safer gambling tools.

Mincetur has projected that approximately Sol3.8 billion (€1bn) in bets was placed in 2022 with online gaming and sports betting estimated to produce Sol162m (€40.6m) a year for the state.

Bobby Longhurst, Group Chief Commercial Officer, EveryMatrix said: “We’re delighted to be among the first technology providers to be given accreditation so we can instantly power our customers to gain valuable, early market share.

“This is a vital step in further increasing our footprint in LatAm, both as Peru and the wider region continue to regulate. We see huge opportunities across all our product areas including turnkey partnerships that involve multiple EveryMatrix products and services coming together to launch or relaunch operator offerings.

“We’ve proven we can deliver large-scale tier-1 technology projects in Europe and are excited at the prospect of replicating this success in Latin America.

“It’s no secret the LatAm market is gathering speed and we’re determined to be at the forefront of that growth in the months and years ahead.”

Eastern Europe

EveryMatrix opens new eco-friendly HQ in Bucharest as it announces 1,000th employee

Published

1 month ago

March 18, 2024

George Miller

EveryMatrix opens new eco-friendly HQ in Bucharest as it announces 1,000th employee

Reading Time: 2 minutes

EveryMatrix has officially inaugurated its new development hub, located at the heart of Bucharest, Romania, while also reaching a milestone of 1,000 employees.

In collaboration with STRABAG Real Estate, construction on the cutting-edge business hub commenced in 2022 with the building now open, providing the tier-1 iGaming supplier’s Bucharest-based team of 400+ staff and growing with a modern, eco-conscious workspace.

EveryMatrix has also surpassed the 1,000-employee mark, just 16 years after it was founded in 2008. The company’s purely organic growth has sky-rocketed in the last four years, with the number of staff increasing by 90%, up from 525 employees in 2020 to 1,000 today. The business announced record profitability in 2023.

The new office is situated near University Square, the city’s focal point with the central location streamlining commute times, making it easily accessible to employees, clients, and partners.

Equipped with a large in-house gym, spa, pool, garden and state-of-the-art amenities across six dedicated floors, as well as free electric car charging points for all staff to encourage switching from fossil fuelled transport, Arghezi 4 was designed to offer the best working experience and environment, catering to the diverse needs of EveryMatrix’s employees.

Click here for an exclusive glimpse into the office and the benefits and features of the building’s beautifully crafted interiors.

The building meets rigorous LEED V4 Gold green certification using sustainable construction practices to minimise environmental and human health risks. Employing building materials and construction methods that are not harmful to the climate and environment, the new office sets a new standard for corporate and environmental responsibility.

Ebbe Groes, Group CEO, EveryMatrix, said: “Building our own HQ has been very exciting but has equally involved a great deal of work. This is our first purpose-built office here, so its opening, combined with our 1,000^th employee represents a special moment in the company’s 16-year history.

“We are continually investing in the development of the business and its culture for both the well-being of our employees and to futureproof EveryMatrix, and I know from speaking to many of the teams here that it ticks all the boxes for our colleagues’ happiness.”

Marius Iancu, Global Head of HR, EveryMatrix, added: “This building is not just a new office; it also serves as an important part of our talent acquisition strategy from 2024 onwards. Every one of its elements has been designed to position EveryMatrix as an employer of choice and provide our teams with a work-life experience that goes beyond expectations.”

EveryMatrix Press Releases

EveryMatrix exceeds 2023 expectations with record annual results

Published

2 months ago

February 5, 2024

George Miller

EveryMatrix exceeds 2023 expectations with record annual results

Reading Time: 3 minutes

EveryMatrix has registered the strongest financial results in its 16-year history setting record growth and profitability including 56% quarterly profit margin for Q4 2023 – its third consecutive quarter above 50%.

Announcing its combined Q4/full year 2023 financial results, the industry’s fastest growing iGaming technology provider set record annual net revenue of €114m across all products, up 75% from 2022 (€65m) and more than four times higher than in 2019 (€28m).

The business recorded significant growth in all business segments in Q4 with record quarterly net revenue of €36m, up 87% Year-on-Year (YoY).

Annual EBITDA surged to €60m for the full year, up 155% compared to 2022 and €20m for the quarter, up 194% YoY driven by strong sports trading margins and significant growth across its casino segment.

2023 – YEAR OF TIER-1 DELIVERY

EveryMatrix’s record-breaking 2023 financial performance was driven by continued excellence in technology and service delivery to a rapidly growing roster of 300+ global customers including its two largest turnkey platform launches to date: the Hungarian state lottery, Szerencsejáték Zrt and Bet-at-home in Germany. Both brands went live with the supplier’s turnkey platform and sportsbook solutions at the end of 2023 and are delivering impressive results.

The business also amplified its affiliate division with the acquisition of DeepCI, a leading iGaming intelligence platform offering game-changing data tracking across millions of affiliate publisher pages. PartnerMatrix integrated DeepCI in Q4 2023 enabling its customers to source untapped opportunities, enhance their brand’s footprint and maximise efficiencies and earnings.

PLAYMATRIX – NEW PRODUCT VERTICAL LAUNCH

On December 27th, 2023, the Group launched a new live casino product and business unit entitled PlayMatrix. Its first live Roulette product offers a cutting-edge platform and user interface built from scratch using the most modern technology available, offering 4K digital video signal processing technology with low latency enabling operators to offer next generation gaming to next generation players. The business will announce more details on PlayMatrix in the months to come.

CORE PRODUCTS CONTINUE TO SMASH RECORDS

EveryMatrix quarterly Gross Gaming Revenue (GGR) performance for operator partners within the Casino business unit generated €588m in Q4 2023, an increase of 89% YoY compared to the same period in 2022. Full year GGR stood at €1.9bn, up 83% YoY.

Quarterly casino net revenue rose to €17.9m, up 101% YoY while EBITDA reached €11.4m reflecting a 212% YoY increase. Full year net revenue reached €54.7m, up 86%, with EBITDA soaring 162% to €32.3m.

The OddsMatrix sports division had its best ever year setting record growth, profitability, and a record number of bets for tier-1 customers. Q4 net revenue was up 69% YoY to €9.1m, while EBITDA reached €4.9m, up 178% YoY. Q4 sports GGR climbed to €74m, up 210% YoY, while annual GGR rose 85% to €190m YoY.

Thanks to a series of major tier-1 launches OddsMatrix saw a 75% YoY rise in total bets from 109 million to 183m from 2022 to 2023, and a 95% QoQ increase in bets in Q4 2023 compared to the same period a year ago.

The business unit set its second highest ever month in GGR for customers in December 2023 at €44.4 million following a record month just four weeks earlier in November 2023 (€48.5m).

Platform saw Q4 2023 net revenue reach €7.9m, up 91% YoY, while EBITDA reached €4.0m, up 283% YoY.

The Affiliate Platform division, including PartnerMatrix and DeepCI, saw net revenue grow to €1.3m, up 39% YoY with EBITDA down 21% YoY due to accelerated product investment.

Ebbe Groes, Group CEO of EveryMatrix, said: “2022 was phenomenal but this year’s numbers are mind blowing. Every business unit and every one of our employees has contributed to a stellar set of financials proving we really are among, if not, the industry’s fastest growing iGaming technology supplier.

“Our growth acceleration from 2019 to today is staggering, while crucially we continue to deliver huge returns for our customers. Particularly pleasing has been the development of our OddsMatrix technology where the team’s hard work has paid off in both winning and delivering to some of the largest operators in Europe. The last 12 months have propelled OddsMatrix to joining the ranks of the industry’s largest sportsbook providers.

“Our progress shows no signs of slowing with investment in PlayMatrix; an exciting new live casino product, new technologies, innovations, and new tier-1 customers in the pipeline, while we are closing in on our 1,000^th employee at the same time as opening a state-of-the art, purpose-built headquarters in Bucharest. The future is very bright for EveryMatrix in 2024 and beyond.”

KEY Q4 & END OF YEAR HIGHLIGHTS

Casino – First to launch casino content and aggregation services with WLA-member Veikkaus with more to come across 2024
Sports – Live with bet-at-home and Hungarian lottery, two largest and most complex projects company has ever undertaken
Platform – developed next generation Player Account Management: GamMatrix v2 using new microservices, can horizontally scale indefinitely and be customised for multiple markets, lowering time to market
Affiliate – PartnerMatrix integrated DeepCI proving end-to-end insights for operators and affiliates sites
Gained regulatory approval in Pennsylvania completing licencing process in all regulated US iGaming states
Increased headcount to 900+ while growing profitability to record high EBITDA margin
Three new senior hires in Q4 including CEO Games, CCO and Head of Lottery
Opened purpose-built, eco-friendly HQ in Bucharest; opened new office in Batumi, Georgia to facilitate new product expansion

Read the full Q4 and End of Year 2024 Update on EveryMatrix.com