iGaming leader EveryMatrix reports €54M revenue

EveryMatrix, a leading global provider of iGaming solutions, has commenced 2025 with impressive financial and operational performance, reinforcing its reputation as a top-tier technology partner in the gaming industry. The first quarter marked another phase of accelerated growth, innovation, and strategic execution across its core verticals—casino, sports, and platform services.

With year-on-year increases in revenue, profitability, and client engagement, the company continues to build on the solid foundation it established in 2024. Leveraging technological development and new commercial deals, EveryMatrix is positioned for continued growth throughout 2025 and beyond.

Robust financial performance in Q1 2025

In Q1 2025, EveryMatrix generated €54 million in net revenue, marking a 39% rise from the same quarter in 2024. Additionally, the company posted an EBITDA of €28 million, representing a 27% year-over-year improvement. This performance was primarily fueled by the expansion of its product suite, deeper integrations with existing clients, and strategic platform migrations.

These figures highlight the company’s ability to drive profitability while simultaneously scaling its operations. The strong financial outcome underscores the efficiency of EveryMatrix’s modular business model and its strategic focus on diversification across regulated markets.

Eighth consecutive quarter of high-margin profitability

One of the most compelling metrics from Q1 was the company’s EBITDA margin, which stood at 52%. EveryMatrix has now sustained EBITDA margins exceeding 50% for eight straight quarters, reflecting its strong operational efficiency and fiscal control.

Over the past twelve months, the company’s EBITDA climbed to €107 million, representing a significant 50% year-over-year growth. This milestone builds on the achievement set in 2024 when the company first surpassed €100 million in annual EBITDA, a testament to its sustained upward trajectory.

Strategic client migration strengthens platform capabilities

One of the standout achievements in Q1 was the complete platform transition of Bet600, the first UK client onboarded as part of the asset acquisition from FSB Technologies. This move is a significant milestone in EveryMatrix’s post-acquisition strategy to consolidate FSB’s client base under its own technology stack.

The Bet600 migration showcases the seamless scalability of the EveryMatrix platform, while also delivering cost efficiencies and unlocking synergies from the acquisition. The company plans to complete the migration of all FSB clients by the end of 2025.

New horse racing product expands sportsbook offering

Further enhancing its sportsbook capabilities, EveryMatrix launched a proprietary horse racing solution in the first quarter. Developed through a collaborative effort between OddsMatrix and the former FSB horse racing teams, the product offers extensive global race coverage with more than 10,000 monthly events.

In addition to comprehensive market coverage, the new platform features flexible betting options, bonus configuration capabilities, and a custom-built front end that supports enriched racecards and live streaming. This initiative enhances the company’s competitive position in the horse racing betting market.

SkyCity deal broadens Asia-Pacific footprint

In a significant step toward global expansion, EveryMatrix signed a full casino turnkey platform agreement with SkyCity Entertainment Group. The company, a leading force in New Zealand’s entertainment industry, manages five physical casinos throughout New Zealand and Australia and also operates the online platform SkyCitycasino.com.

Scheduled for migration later in 2025, the SkyCity agreement expands EveryMatrix’s presence in the Asia-Pacific market. The partnership demonstrates the company’s capacity to support major operators with fully integrated, white-label gaming solutions across jurisdictions.

Sports betting continues upward trajectory

EveryMatrix’s sports division maintained strong momentum in Q1 2025, reporting a 30% year-on-year increase in turnover to €1.7 billion. Gross gaming revenue from sports reached €154 million, up 60% from Q1 2024. In the past year, total turnover reached €6.3 billion, reflecting a 48% growth, while gross gaming revenue (GGR) surged by 92% to €505 million.

A key factor behind this surge was the record-breaking coverage of nearly 600,000 live events—a 24% increase year-on-year—offered by the OddsMatrix platform. The performance highlights the scalability of the sports solution and its growing appeal among operators seeking reliable, high-volume trading platforms.

Casino division achieves highest-ever quarterly revenue

The casino segment recorded its best quarterly performance ever, with net revenue hitting €28.6 million, marking a 44% increase compared to the previous year. EBITDA also improved significantly, reaching €16.8 million, up 29% from the same quarter in 2024.

Casino gross gaming revenue for Q1 amounted to €753 million, representing a 22% increase year-on-year. Over the trailing twelve months, casino GGR hit €2.9 billion, marking a 38% annual increase. These results were driven in part by strong performance from the SlotMatrix aggregation platform and the addition of new content partners.

GamMatrix experiences growth despite margin contraction

GamMatrix, the company's platform for player account management and regulatory compliance, achieved strong performance in Q1, with net revenue growing to €8.6 million, reflecting an 18% year-on-year increase. However, EBITDA for GamMatrix fell by 23%, reaching €2.4 million.

The decline in margin was attributed to a shift in internal revenue allocation practices rather than underlying performance issues. GamMatrix remains integral to EveryMatrix’s ability to offer modular and compliant iGaming architecture, especially in tightly regulated markets.

Product launches and strategic wins drive growth

In addition to its financial metrics, EveryMatrix made several significant product and commercial announcements during the quarter:

• The company launched its first three live dealer blackjack tables through the PlayMatrix brand, further diversifying its casino offering.
• It rolled out real-time Rakeback functionality via LoyaltyEngine, supporting cross-vertical loyalty initiatives for operators.
• EveryMatrix integrated 14 new casino vendors, bringing its total to over 185 integrated platforms and more than 345 content providers.
• It introduced new odds models for football and handball while also enhancing its self-service betting terminals (SSBTs).
• The company delivered OddsMatrix data feeds to LeoVegas Group, enriching their global sportsbook offering.
• SlotMatrix content was launched with Caesars Entertainment across five U.S. states, signaling deeper penetration into the North American market.
• EveryMatrix secured a win in the Norsk Tipping RFP process, the largest SlotMatrix deal to date, providing aggregation, bespoke content, and in-house games.
• The company added 20 new clients to its PartnerMatrix affiliate platform, highlighting continued demand for its marketing and acquisition tools.

Executive outlook for the remainder of the year

EveryMatrix leadership has expressed confidence in its ability to maintain momentum throughout 2025. The company’s vision is firmly focused on continued international expansion, product innovation, and deepening relationships with existing clients.

Ebbe Groes, the company’s Group CEO, emphasized the company’s momentum and optimism for the future. He reaffirmed the organization’s commitment to building on its record-setting year in 2024 and scaling new heights in 2025.

With a diversified product portfolio, a global presence, and a growing list of Tier-1 clients, EveryMatrix enters the remainder of 2025 in a position of considerable strength. Its consistent quarterly performance reflects not just resilience but also an ongoing commitment to delivering value through technology, strategic growth, and customer-centric innovation.

Conclusion

In conclusion, EveryMatrix has entered 2025 with considerable momentum, building on a year of record-breaking achievements and operational milestones. The company’s robust financial performance in Q1—driven by double-digit revenue growth, consistent EBITDA margins, and landmark deals—underscores its position as a leading force in the iGaming technology space. Strategic acquisitions, innovative product launches, and high-profile partnerships have further expanded its global reach and product portfolio. Despite some internal shifts, the overall outlook remains highly positive, with EveryMatrix poised for continued growth and scalability across all verticals throughout the rest of the year.

FAQs

What was EveryMatrix’s net revenue in Q1 2025?
The company reported a net revenue of €54 million in the first quarter, marking a 39% year-on-year increase.

How much did EveryMatrix’s EBITDA grow in Q1 2025?
EBITDA rose to €28 million, a 27% increase compared to Q1 2024.

What contributed to the success of EveryMatrix’s sports division?
The sports division saw increased turnover and GGR due to a record number of live events and improved trading margins.

What is the significance of the Bet600 migration?
Bet600 was the first FSB Technologies client to fully migrate to the EveryMatrix platform, representing a key milestone in the integration strategy.

What does the new Horse Racing product offer?
The product provides over 10,000 monthly events, advanced betting systems, rich racecard content, and live streaming integrations.

Who is SkyCity Entertainment Group, and what deal was signed?
SkyCity is a leading New Zealand entertainment firm, and it signed a deal with EveryMatrix to migrate to its full casino turnkey platform later this year.

What were the casino division’s results in Q1 2025?
The casino division saw net revenue of €28.6 million and EBITDA of €16.8 million, the strongest quarterly results to date.

Why did GamMatrix’s EBITDA decline despite revenue growth?
The decline was due to internal changes in revenue allocation, not performance issues.

What new technologies did EveryMatrix introduce in Q1 2025?
Innovations included real-time Rakeback, new odds models for football and handball, and enhancements to SSBTs.

What is the company's outlook for the rest of 2025?
CEO Ebbe Groes expressed strong optimism, citing the momentum built in Q1 and the company’s ongoing expansion and innovation.