EveryMatrix has posted another impressive quarter, showcasing its strategic growth and financial strength in Q3 2024. This performance comes on the back of key acquisitions that have significantly boosted the company’s position in the gaming and sports betting sectors.
EveryMatrix’s Impressive Financial Surge
EveryMatrix’s third-quarter results are hard to ignore, with the company reporting a 66% increase in net revenue, reaching €45 million. This marks the sixth consecutive quarter in which the company has maintained a profit margin above 50%, a strong indicator of its successful business strategies and operational efficiency.
The acquisitions of FSB Technology and Fantasma Games were pivotal in this growth, reinforcing EveryMatrix’s position as a dominant player in the gaming and sports betting markets. The all-cash buyouts were completed in June and October, respectively, and have proven to be a powerful move for the company. With these acquisitions, EveryMatrix has expanded its reach in North America and Europe, further solidifying its competitive edge.
In addition to its revenue growth, the company reported a 71% year-over-year increase in EBITDA, hitting €23 million, while its EBITDA margin climbed to an impressive 52%. This remarkable performance speaks volumes about the company’s ability to not just generate revenue, but also maintain a solid bottom line in a competitive market.
The Power of Acquisitions: FSB Technology and Fantasma Games
The acquisition of FSB Technology has had a noticeable impact on EveryMatrix’s sportsbook operations. Thanks to this strategic move, the company’s sportsbook turnover soared to €1.5 billion in Q3, with a projected yearly turnover now set at a staggering €5.3 billion.
FSB Technology’s sportsbook addition contributed 15% of the group’s gross gaming revenue (GGR) in Q3, proving how effective the deal was in bolstering EveryMatrix’s position in the global sportsbook sector. Furthermore, a partnership with BetGoodwin, a leading UK operator, helped enhance the company’s sports and casino technology offerings, driving further growth in its sportsbook and casino arms.
In a statement, EveryMatrix emphasized the strategic importance of this acquisition in expanding its sportsbook presence and diversifying its gaming solutions. With FSB Technology’s assets now firmly in the fold, the company is well-positioned to capture a larger share of the global iGaming market, especially in markets like the UK and Europe.
Fantasma Games: A Step Toward North American Growth
EveryMatrix’s acquisition of Fantasma Games in October was another milestone for the company, and one that could have a significant impact on its long-term growth. Fantasma Games, a leading developer of slot games, is particularly strong in the North American iGaming market, which is expected to see continued expansion over the coming years.
This acquisition gives EveryMatrix access to new markets, including North America, where the iGaming industry is booming. By integrating Fantasma Games’ portfolio into its offerings, EveryMatrix is able to cater to the growing demand for online casino games in the region, particularly as states like Michigan, New Jersey, and Pennsylvania continue to develop their online gaming infrastructure.
With Fantasma Games now part of its portfolio, EveryMatrix has the opportunity to secure a larger foothold in the North American market, which is expected to remain a major growth area in the coming years. The acquisition aligns perfectly with EveryMatrix’s overall strategy to strengthen its position as a global leader in the iGaming and sports betting industries.
Strategic Partnerships and Continued Expansion
EveryMatrix’s strong Q3 performance was further bolstered by several strategic partnerships, particularly in Africa and Europe. The company recently teamed up with Mbet, a notable player in the African market, to further expand its footprint. This partnership comes on the heels of the FSB Technology acquisition and represents a significant step for EveryMatrix in its bid to tap into emerging markets across the globe.
In addition, EveryMatrix secured additional development capabilities in Stockholm, Sweden, and Sofia, Bulgaria, thanks to the Fantasma Games deal. These new locations will allow the company to expand its operational base and enhance its game development capabilities, particularly for its growing casino platform tech.
Perhaps one of the most significant achievements for the company this quarter was its recognition at the SBC Awards and Starlet Awards, where it took home the coveted Multi-channel Supplier of the Year award. This accolade further underscores EveryMatrix’s status as one of the top providers in the global iGaming sector and highlights its ongoing commitment to innovation and excellence.
