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EveryMatrix reveals revenue and earnings growth for 2021

| By Robert Fletcher
EveryMatrix has reported a year-on-year increase in revenue and earnings before interest, tax, depreciation and amortisation (EBITDA) for its 2021 financial year, despite a negative impact from new German regulations.

Revenue for the 12 months to 31 December 2021 amounted to €86.7m (£72.3m/$98.4m), up 23% from the previous financial year.

EveryMatrix noted a series of key achievements throughout 2021 that helped drive growth across its sports betting, casino and platform operations, including its launch with 19 new client brands during the year, including eight that it described as “tier-one operators”.

Within its sports betting business, more than €100m in wagers were placed in each month of the year, a new record for the provider. This was helped by a return to a near-normal sports schedule following the cancellation and postponement of many events in 2020 due to the novel coronavirus (Covid-19) pandemic.

The casino segment saw 18 new game launches on the SlotMatrix remote game servicer in 2021, while EveryMatrix reported 10 new game vendor integrations. SlotMatrix is now live with nine partners and is available in 15 regulated markets around the world.

Looking at platform operations, EveryMatrix reported a total of 13 new payment provider integrations in 2021. 

Other key highlights in 2021 included the launch of its new Managed Services unit, while the provider also secured approval from the Great Britain Gambling Commission to extend its licence to cover its Spearhead Studios subsidiary’s casino host activities.

In the US, EveryMatrix opened Armadillo Studios, its first igaming studio investment in the country, while it also launched in New Jersey and applied for licences in both Michigan and West Virginia.

EveryMatrix did not publish a full breakdown of its results for the year, but did report that gross profit reached €51.5m, up 32% on the previous year, while EBITDA was also 65% up to €19.7m.

Sports betting gross profit increased 48% year-on-year, though casino gross profit fell due to the impact of regulatory changes in Germany. Gross profit from platform services rocketed 114% to €12.1m.

Looking at the fourth quarter and revenue for the three months to 31 December amounted to €23.9m, up 33% on the previous year. Gross profit was also 26% higher at €13.9m, while EBITDA for the quarter was 23% higher at €4.4m.

“I am delighted to report excellent results for the fourth quarter and 2021 as a whole in terms of strong gross profit and EBITDA growth, onboarding of new clients, and deals signed,” EveryMatrix group chief executive Ebbe Groes said.

“We delivered this result despite the regulatory changes in Germany which have impacted the casino segment significantly. This achievement proves the positive effect of the bold leap EveryMatrix took when investing heavily in product and technology. It has given us a strong, diverse and competitive product offering and the ability to attract new clients.

“The number of active leads, client launches and new product launches makes me confident about our prospects and further demonstrates the momentum with EveryMatrix’s innovative product offering and highly scalable and modular software platform.”

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