EveryMatrix Hits Record Revenues in Q4 2024

EveryMatrix, one of the fastest-growing technology providers in the iGaming industry, has marked a historic year in 2024, recording its highest-ever revenues and unparalleled growth across its business units. As a global tier-1 provider, EveryMatrix has made remarkable strides in expanding its footprint, offering innovative solutions for sports betting, casino, payment processing, and affiliate management. The company's robust financial performance underscores its market leadership and ability to navigate the increasingly competitive iGaming landscape.

A Historic Year: Record-Breaking Financials

EveryMatrix achieved a monumental milestone in 2024, surpassing all previous records for quarterly and annual performance. The company reported an all-time high annual net revenue of €181 million, marking a remarkable 59% year-on-year (YoY) increase. The company’s EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) reached €101 million, reflecting a 70% YoY growth, further cementing the company’s position as one of the most profitable entities in the iGaming sector.

In the fourth quarter (Q4) of 2024 alone, EveryMatrix set a new record with €55 million in net revenue, representing a 51% increase YoY. The company’s EBITDA for Q4 stood at €30 million, a 49% YoY increase. This outstanding growth was driven by several key factors, including large-scale customer launches, significant deal wins, and the continued expansion of EveryMatrix’s core business segments—sports and casino.

Core Business Units Fuel Growth: Sports and Casino Expansion

The growth in EveryMatrix’s core business units, particularly sports betting and casino services, played a crucial role in its record-breaking performance. EveryMatrix saw a 33% YoY increase in Gross Gaming Revenue (GGR) for operator partners in its casino division, generating €782 million in Q4 alone. For the entire year, casino GGR reached €2.8 billion, a 49% YoY increase. The number of game rounds processed also surged to more than 73 billion, showcasing the scalability and efficiency of the company’s platform.

Quarterly casino net revenue reached €27.1 million, a 52% YoY improvement, while EBITDA reached €16.7 million, reflecting a 46% YoY increase. This growth was propelled by EveryMatrix’s continued efforts to innovate and expand its game offerings. In Q4, the company introduced 1,145 new game titles and integrated 33 new vendors, bringing the total to more than 175, making EveryMatrix one of the leading aggregators globally.

Sports betting was another area of exceptional growth for EveryMatrix in 2024. OddsMatrix, the company’s sportsbook platform, recorded a remarkable 73% YoY increase in betting volumes, surpassing 515 million bets for the year. In Q4 alone, sportsbook turnover climbed to €1.9 billion, a 50% YoY increase. GGR for Q4 reached €160 million, marking a 115% YoY increase, while the annual GGR for sports betting soared by 135% to €448 million. The company’s ability to manage such large volumes of betting activity underscores the strength and scalability of the OddsMatrix platform.

Strategic Acquisitions: Strengthening the Portfolio

In 2024, EveryMatrix made significant strides through strategic acquisitions, further bolstering its product offerings and expanding its market reach. The company acquired FSB Technology in July and Fantasma Games in October, two moves that have already had a positive impact on its overall strategy.

FSB Technology has added approximately 14% additional Gross Gaming Revenue (GGR) to EveryMatrix’s sportsbook business, enhancing the OddsMatrix platform and enabling the company to cater to an even broader range of clients. The acquisition also opened up new market opportunities in the UK and Africa, expanding EveryMatrix’s geographic footprint.

Fantasma Games, a renowned game development studio, brought 45 new game titles to EveryMatrix’s portfolio, which are already live with more than 250 operators worldwide. This acquisition not only strengthened EveryMatrix’s in-house content but also significantly enhanced its presence in rapidly growing markets, including North America. Fantasma Games’ titles are now played by millions of players across over 50 countries, contributing to EveryMatrix’s ever-expanding global reach.

Global Expansion and New Market Penetration

EveryMatrix’s expansion efforts were further highlighted by its growing presence in North America. In 2024, the company’s SlotMatrix content went live in West Virginia, marking a significant step in its ongoing efforts to penetrate the US iGaming market. EveryMatrix is now licensed in all US iGaming states, and the company is poised to continue expanding its footprint in this lucrative market.

The company’s international reach was also bolstered by its entry into new jurisdictions, including Peru and Croatia, with its Player Account Management (PAM) system, GamMatrix, processing over 450,000 gaming transactions per minute during peak hours. Additionally, the MoneyMatrix payment platform saw a dramatic increase in daily payment transactions, expanding by 25 times since 2020 and more than doubling YoY.

Awards and Industry Recognition

EveryMatrix’s remarkable achievements in 2024 did not go unnoticed by its peers in the industry. The company was recognized with seven major industry awards, its best-ever annual tally. These accolades included titles such as Multi-Channel Supplier of the Year, Casino Supplier of the Year, and Aggregator of the Year. These prestigious awards reflect EveryMatrix’s commitment to excellence and innovation across its product verticals, reaffirming its status as a leading provider in the iGaming technology space.

Workforce Growth and Expansion

The company’s rapid growth was not limited to financial performance and product expansion. EveryMatrix also saw significant growth in its workforce, surpassing the 1,000-employee milestone and reaching a total of 1,300 team members by the end of 2024. This expansion is a testament to the company’s ability to attract and retain top talent in the iGaming sector, supporting its continued growth and success.

Looking Ahead: A Bright Future for EveryMatrix

As EveryMatrix looks ahead to 2025, the company remains committed to driving innovation and further expanding its market presence. The strategic acquisitions of FSB Technology and Fantasma Games, coupled with the ongoing success of OddsMatrix and SlotMatrix, position EveryMatrix to continue its upward trajectory in the iGaming industry.

Ebbe Groes, Group CEO of EveryMatrix, expressed his pride in the company’s achievements, emphasizing the importance of client loyalty and staff dedication in driving the company’s success. He also highlighted the tremendous growth of OddsMatrix, which has experienced a 14-fold increase in betting volumes over the past five years. Groes concluded by reiterating EveryMatrix’s commitment to continuous improvement and delivering high-quality products that help its clients grow and succeed.

Conclusion

EveryMatrix’s performance in 2024 has been nothing short of extraordinary. With record financial results, strategic acquisitions, and a rapidly expanding global presence, the company is well-positioned to continue its success in the iGaming industry. As EveryMatrix celebrates its achievements, it remains focused on delivering innovative solutions that drive growth for its clients and solidify its status as a leader in the iGaming technology space.

FAQs

What are the key factors behind EveryMatrix’s success in 2024?
The company's record-breaking results were driven by strategic acquisitions, robust growth in sports betting and casino sectors, and significant market expansion.

How did EveryMatrix’s Q4 results compare to the previous year?
In Q4 2024, EveryMatrix achieved record net revenue of €55 million, a 51% YoY increase, and EBITDA of €30 million, up 49% YoY.

What impact did FSB Technology and Fantasma Games acquisitions have on EveryMatrix?
FSB Technology enhanced EveryMatrix’s sportsbook offerings, adding 14% to GGR, while Fantasma Games expanded the game portfolio and boosted market reach.

What is the performance of EveryMatrix’s casino division in 2024?
The casino business unit saw a 33% YoY increase in GGR for Q4, reaching €782 million, and a 49% increase for the full year, totaling €2.8 billion.

What is OddsMatrix and how did it perform in 2024?
OddsMatrix is EveryMatrix’s sportsbook platform, which saw a 73% YoY increase in betting volumes, with GGR reaching €160 million in Q4.

How has EveryMatrix expanded its presence in North America?
EveryMatrix launched SlotMatrix content in West Virginia and is now licensed in all US iGaming states, marking significant growth in the North American market.

What role did acquisitions play in EveryMatrix’s growth strategy?
The acquisitions of FSB Technology and Fantasma Games helped EveryMatrix expand its sportsbook platform and enhance its game portfolio, contributing to overall growth.

What industry awards did EveryMatrix win in 2024?
EveryMatrix won seven major awards, including Multi-Channel Supplier of the Year, Casino Supplier of the Year, and Aggregator of the Year.

What are EveryMatrix’s future plans for growth?
EveryMatrix aims to continue expanding in key markets, focusing on product innovation, client growth, and further strengthening its position in the iGaming industry.

How did EveryMatrix achieve its workforce growth in 2024?
EveryMatrix’s workforce grew by 41% in 2024, reaching 1,300 employees, due to its expansion and the increasing demand for its products and services.