EveryMatrix revenue grows in Q3 despite German casino decline
The supplier did not mention how much revenue came from casino compared to sport, but did say that Germany accounted for 24% of casino revenue during the quarter, down from 50% last year. This is due to new regulations for online casino in Germany, impacting large EveryMatrix clients in the country.
Gross profit for the quarter amounted to €12.6m, up 46% from last year. Gross casino profit came to €6m for Q3, showing little fluctuation from last year.
Profit from sports products came to just under €4m, showing a slight increase on Q3 2020. Platform profit for the company was €3m, a major improvement on 2020 when profits were near zero.
Earnings before interest, taxation, depreciation and amortisation (EBITDA) came to €4.4m, which was a 12% increase on 2020.
Ebbe Groes, CEO of EveryMatrix, said: “The strong financial performance this quarter confirms our ability to deliver on the growth strategy we have set out.
“In the Casino segment, we saw a significant impact of the regulatory changes in Germany, where EveryMatrix is particularly strong. But the diversity of our client base as well as our well-balanced product portfolio means that this nine-month period is still strongly up on the year before.”
Q3 also saw EveryMatrix move forward with its US expansion plans, agreeing deals with Resorts Digital Gaming and Kindred Group. The company also agreed a strategic partnership with payment technology business Nuvei Corporation.
Groes added: “Our expansion plan for the highly attractive US market is progressing very well. We now have an office, an experienced team, a pipeline that is delivering sales, and we continue to advance with the licensing process.”
EveryMatrix also made changes to its senior management during the quarter, appointing Mark McMillan to its board and naming Alina Alexandru as its new chief technology officer.