EveryMatrix reports outperformance in Q3 as profit rises 33%

EveryMatrix has reported continued momentum for its B2B betting and gaming operations in Q3 2022.

The technology provider revealed that total profit during the quarter rose by 33% to €16.8m from €14.9m, with an EBITDA margin of 38% from an EBITDA increase of 18.75% to €6.4m (Q3 2021: €5.2m).

Examining European developments, EveryMatrix asserted that it is now ‘lapping the full Germany effect’ after partnering with bet-at-home, in a deal which also encompassed the Italian and Austrian markets.

Additionally, the group also signed a casino content partnership, including SlotsMatrix exclusive titles, with Finland’s state-owned gaming and lottery monopoly Veikkaus during the quarter – profit for its casino segment rose by 31% to €7.7m.

Ebbe Groes, Group CEO of EveryMatrix, said: “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.”

Outside of Europe, EveryMatrix also secured Moroccan state lottery operator MDJS as a client, but the deals of greatest significance to the firm took place in North America.

In August the firm received its licence from the Alcohol and Gaming Commission of Ontario (AGCO) to initiate operations in Canada’s most populated province, whilst in the US a deal was clinched with BetMGM, the joint venture between Entain and MGM Resorts.

The group closes the quarter having signed 11 new sports clients, 18 affiliate platform deals and 14 casino partnerships, along with supporting 22 client launches and commencing its own Crypto Casino project.

“EveryMatrix launched with BetMGM in the US and Morocco’s state-owned lottery MDJS,” Groes concluded.

“The Group’s record Gross Profit across all business segments clearly underlines our strong market position.”