Gaming supplier EveryMatrix has enjoyed a record first quarter of 2024 after seeing net revenue grow by 66 per cent to new high of €39 million.
The privately owned company reported growth across its product verticals, with gross gaming revenue (GGR) for operator partners within the Casino segment increasing by 65 per cent to a record €619 million, generating quarterly net revenue of €19.9 million, a rise of 83 per cent year-on-year.
The OddsMatrix sports division generated turnover of €1.3 billion during the quarter, an increase of 31 per cent, with GGR soaring 308 per cent to €96 million. Net revenue for Q1 rose 78 per cent to €10.5 million.
Platform net revenue increased by 28 per cent to €7.3 million, with EveryMatrix’s Player Account Management (PAM) system hitting a new record of 230,000 bets per minute at peak times.
Net revenue from the company’s affiliate platform, including PartnerMatrix and DeepCI, grew by 39 per cent to €1.4 million, after signing up 14 and 15 new clients respectively.
Overall EBITDA for the quarter more than doubled to €22.3 million, with Casino contributing €13.2 million (+132 per cent), OddsMatrix €6.2 million (+313 per cent), and Platform €3.2 million (+13 per cent). EBITDA from the affiliate platform was down €0.4 million, which the company attributed to continued product and commercial investment.
“It’s been more than a year of the company breaking records and hitting new highs, and this quarter has been the best yet,” said EveryMatrix CEO Ebbe Groes. “It’s mind-blowing how far we’ve come and how much progress continues to be made across the entire business.
“From casino, sports and platform that are all showing extremely positive signs of sustained growth and expansion, to our affiliate, payments and live casino divisions that are pushing the boundaries of technology and paving the way for future success, we’re in a fantastic position for the remainder of 2024 and beyond. Watch this space as there is plenty more to come from EveryMatrix this year.”