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EveryMatrix crosses €100 million EBITDA barrier for 2024
EveryMatrix, the iGaming industry’s fastest growing technology provider, has achieved historic quarterly and annual financial results with record revenues, its greatest ever growth and soaring profitability.
The global tier-1 provider’s expansion has hugely accelerated in the last five years, however Q4 2024, combined with full-year results, has seen records smashed with its best ever quarter, all-time high annual net revenue of €181 million, a 59% YoY increase, EBITDA of €101m – up 70% YoY – and a seventh consecutive profit margin of more than 50%.
This was driven by large-scale customer launches and deal wins, continued, rapid growth in its core sports and casino business units, further bolstered by strong sports trading margins.
Fourth quarter 2024 results saw EveryMatrix set a record high net revenue of €55m across all products, up 51% YoY. Q4 EBITDA stood at €30m, up 49% YoY.
The business was boosted in 2024 by two acquisitions: FSB Technology in July and Fantasma Games in October. Both teams and products have been integrated and are already contributing to Group revenues and strategy across sportsbook platform development and games content. Both transactions were all-cash and fully funded from cash flow. The company remains debt free.
BEST 12 MONTHS IN COMPANY HISTORY
The EveryMatrix Group celebrated its biggest and best year in 2024 with record performance in all product verticals, signing and delivering its biggest ever tier-1 clients including its first omni-channel agreement with Arena Casino.
It closed two accretive M&A transactions in FSB Technology and Fantasma Games, was selected in first place ahead of competitors for multiple, soon-to-be announced, large-scale public procurement processes further futureproofing the business and surpassed the 1,000-employee milestone, now with 1,300 team members.
EveryMatrix was also recognised by its peers with seven major industry awards – its best ever annual tally – including multi-channel supplier, casino supplier and aggregator of the year.
FSB Technology has added approximately 14% additional Gross Gaming Revenue (GGR) to the Group’s sportsbook business unit volumes with customer migration on track.
The acquisition has strengthened key areas of the business, including the OddsMatrix sportsbook, by doubling the trading and quants team to enhance personalisation within managed odds and risk services. The deal has also opened the UK and African markets for EveryMatrix.
The Fantasma Games acquisition added 45 well-known titles that are already live with more than 250 operators and played by millions of players across 50+ countries. This increased EveryMatrix’s in-house portfolio to 120+ games.
Fantasma Games’ market distribution will also boost EveryMatrix’s presence in rapidly growing markets. North America remains a key focus area. SlotMatrix went live in West Virginia during the quarter and is licensed in all US iGaming states. The SlotMatrix commercial team has also been strengthened with the arrival of Björn Sjöberg as CCO, formerly CCO of Evolution Games.
A QUARTER LIKE NO OTHER
Q4 2024 GGR for operator partners within the Casino business unit generated a thirteenth consecutive record quarterly performance of €782m, up 33% YoY with GGR for the last 12 months at €2.8 billion, a 49% YoY increase and processing more than 73 billion game rounds.
Quarterly casino net revenue improved to €27.1m, up 52% YoY while EBITDA reached €16.7m reflecting a 46% YoY increase. The SlotMatrix aggregation product introduced a total of 1,145 unique game titles and integrated 33 new vendors in Q4 2024 bringing the total to more than 175, well above any other aggregator worldwide.
OddsMatrix underwent an outstanding period of growth, increasing betting volumes 73% YoY – and by a factor 14 over a period of five years with the total number of bets in 2024 exceeding 515m.
Quarterly sportsbook turnover climbed to €1.9bn and €5.9bn for the last 12 months reflecting a 50% YoY increase, while Q4 GGR reached a record €160m, a 115% increase YoY. In the last 12 months GGR rose by 135% YoY to €448m. Net revenue for the quarter reached €17.5m, up 92% YoY, while EBITDA reached €11.4m, reflecting a 133% YoY increase.
OddsMatrix hit a record number of live events for 2024 of more than 2 million events, a 16% rise YoY driven by additional premium content.
Platform saw fourth quarter net revenue rise 9% YoY to €8.6m, with EBITDA at €2.8m. GamMatrix, the EveryMatrix Player Account Management (PAM) system, processed 450k gaming transactions per minute during peak hours, up 12% QoQ, while also going live in new jurisdictions in 2024 including Peru and Croatia. The number of successful payment transactions reached 230m in 2024. Since 2020 the MoneyMatrix payment platform has seen daily payment transactions increase by 25 times, more than doubling YoY.
In 2024 the Affiliate division saw PartnerMatrix integrate PartnerMatrix Intelligence (formerly DeepCI) combining affiliate software and affiliate intelligence products under one proposition. During the full year, the business unit signed 96 new deals. Quarterly net revenue landed at €1.4m up 2% YoY, while EBITDA decreased to -€0.4m. Full-year net revenue reached €5.6m, up 26% YoY, while EBITDA landed at -€1.1m. This is currently the only area of EveryMatrix not performing satisfactorily.
Ebbe Groes, Group CEO of EveryMatrix, said: “The timing of our results at ICE couldn’t be better while the industry gathers at the biggest event of the year.
“I’m proud of all our achievements in 2024 but particularly in sports where OddsMatrix has undergone an incredible period of growth, increasing betting volumes by a factor 14 in just five years.
“The system’s ability to handle this mega growth for bet placement, bet settlement and risk management, while simultaneously adding many features, is proof of just how solid its architecture is. In this quarter alone we launched a completely rewritten Risk Management module, infinitely scalable and with many new features. Several clients have already migrated to it.
“The momentum we’ve set in the last few years shows no signs of slowing down. Most of all, this is a result of our clients growing with us and my heartfelt thanks go to our customers and our staff. Your loyalty and efforts jointly did this. We will keep pushing to improve all products help our clients’ continued growth!”
Q4 & FULL-YEAR 2024 HIGHLIGHTS
- Record Net Revenue: €55m for the quarter, up 51% YoY; full-year revenue reached €181m, a 59% YoY increase.
- Record EBITDA: €30m for the quarter, up 49% YoY; full-year EBITDA totalled €101m, a 70% YoY growth.
- Integration of Fantasma Games into EveryMatrix Games business unit immediately contributing to Group revenues – follows integration and on-schedule migration of FSB Technology customers.
- Record year for OddsMatrix with all-time high sportsbook turnover, margins, live events and bet volumes.
- Live with first omni-channel turnkey technology solution for Croatia’s Arena Casino.
- BetMGM and Rush Street Interactive live with SlotMatrix in-house content in West Virginia, US.
- Achieved gold-standard GLI-19 and GLI-33 certifications for core platform products.
- Launched ‘Academy for Heroes’ – second fully funded NGO in Ukraine for war veterans to develop IT careers.
- 41% annual growth in staff, with total now at 1,300.
The post EveryMatrix crosses €100 million EBITDA barrier for 2024 appeared first on European Gaming Industry News.
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How South Africa Will Lead Online Casino Trends in Africa in 2025
The online casino industry in Africa is poised for rapid growth in 2025, and South Africa is at the forefront of this revolution. As one of the continent’s most advanced markets, South Africa is shaping trends that are set to influence how online gaming evolves across the region. From technological innovation to user-centric platforms, South Africa is cementing its reputation as a leader in the online casino space.
Innovation Meets Regulation
One of the key factors enabling South Africa’s leadership is the balance between innovation and regulation. The country has established a robust framework for online gambling south africa, ensuring player safety while fostering innovation among operators. This regulatory environment attracts world-class developers and service providers, allowing local players to enjoy cutting-edge games and features. In 2025, expect a surge in virtual reality (VR) casino games, personalised gaming experiences, and AI-driven customer support—all trends likely to emerge first in South Africa before spreading to the rest of Africa.
Local Payment Solutions for a Seamless Experience
South African casinos are addressing one of the biggest barriers to entry for players: payment methods. With the rise of local solutions like 1ForYou Vouchers and Capitec Pay, players can now deposit and withdraw seamlessly, even if they lack traditional banking access. This innovation will set a precedent for neighbouring countries, making online casinos more accessible to a wider audience across the continent.
Empowering Players Across Africa
As South Africa leads the charge, one of the most exciting developments is the focus on player empowerment. South African operators are raising the bar by offering transparent terms, generous bonus structures, and educational resources to help players make smarter choices. Features like no deposit bonuses, free spins no deposit, slots real money, and loyalty programmes are becoming standard, providing more value to players and ensuring they stay engaged. This player-centric approach is expected to ripple across Africa, inspiring other markets to adopt similar practices.
A Gateway for International Operators
South Africa’s leadership is not only influencing local players but also positioning the country as a gateway for international operators looking to expand into Africa. With its robust infrastructure, tech-savvy population, and a deep understanding of the local gaming culture, South Africa is an ideal testing ground for new technologies and games. Global brands are increasingly partnering with South African affiliates and operators to introduce innovations that meet the needs of African players, further solidifying the country’s influence in the region.
Community and Responsible Gaming at the Core
Another significant trend is the emphasis on community and responsible gaming. South African platforms are leading the way by integrating tools for self-regulation, offering support for problem gambling, and fostering an online environment that prioritises player well-being. By blending fun with responsibility, South Africa is setting a benchmark for what sustainable online gaming should look like—not just for Africa, but for the global online casino industry.
SouthAfricanCasinos.co.za Leads the Conversation
Bart Charrings, a lead writer and expert at SouthAfricanCasinos.co.za, highlights the role South African affiliate sites play in shaping this dynamic landscape. “At SouthAfricanCasinos.co.za, we pride ourselves on providing not just reviews, but insights that empower players to make informed decisions. Our unique focus on local payment methods, mobile-optimised platforms, and beginner-friendly guides sets us apart from the competition,” says Charrings.
SouthAfricanCasinos.co.za is also known for its in-depth coverage of South African-specific trends, including how local regulations impact the gaming experience and what players can expect from the latest casino launches. By bridging the gap between players and trustworthy operators, the site is a key resource for South Africans seeking safe and enjoyable online casino experiences.
The post How South Africa Will Lead Online Casino Trends in Africa in 2025 appeared first on European Gaming Industry News.
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Play’n GO announces landmark partnership with music label Spinnin’ Records
Partnership cements Swedish gaming giant as a world leader in entertainment
Play’n GO, the world’s leading casino entertainment provider, has today announced a unique partnership with world-renowned music label Spinnin’ Records.
The partnership will see the legendary games studio produce two bespoke games on behalf of the label, the first of which, Into the Beat, will release in March of this year, and is yet another landmark in Play’n GO’s expansion into the world of entertainment.
Play’n GO Music launched in 2023, and in the intervening months has become a globally recognised brand, collaborating with artists from around the world. Play’n GO Music also earned acclaim for its collaboration with MoneyGram Haas F1 Team in 2024, which saw the division produce playlists in conjunction with Ayao Komatsu, Nico Hulkenberg, and Kevin Magnussen, as well as producing a track for the motorsport team with Canadian EDM artist Humansion.
This collaboration with Spinnin’ Records further cements Play’n GO’s position at the forefront of music-themed entertainment, delivering innovative experiences that blend the worlds of gaming and music as never before.
Ebba Arnred, Co-Founder and Chief Marketing Officer at Play’n GO, commented “We’re very excited to team up with the world’s leading dance label and community, Spinnin’ Records. Both of our businesses share a commitment to the highest quality entertainment, and this partnership is a perfect fit for our business. We are constantly looking for ways to innovate and to deliver unique experiences, and we’re confident that this industry-first partnership will push the boundaries of what is possible in iGaming. We’re looking forward to the release of both games in collaboration with Spinnin’ Records, and to delivering best-in-class entertainment together.”
The post Play’n GO announces landmark partnership with music label Spinnin’ Records appeared first on European Gaming Industry News.
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Million Games and YUGO Workshop Launch Epic Slot: Thorfinn’s Journey
Million Games, in partnership with YUGO Workshop, is thrilled to announce the launch of Thorfinn’s Journey, an exciting new slot game inspired by the daring exploits of Viking explorers.
This 5-reel, 3-row slot takes players on a captivating voyage into the Viking Age, where legends like Thorfinn, Leif, and Gudrid navigate icy waters in search of glory and riches. Featuring stunning visuals, a gripping storyline, and innovative gameplay, Thorfinn’s Journey is set to become liked by experienced as well as new players.
Players will experience:
- Voyage of Discovery Free Spins: Triggered by three or more Scatter symbols, this feature introduces expanding Mystery Symbols and respins for enhanced winning potential.
- Mystery Respin Feature: Every Mystery Symbol expansion activates respins, with the chance to fill the entire screen for huge rewards.
- Bonus Buy: Players can opt to jump straight into the action with the Bonus Buy feature, activating Free Spins instantly.
With a 96.16% RTP, medium volatility, and a maximum payout of x2350, Thorfinn’s Journey offers a well-rounded gaming experience designed to captivate players of all skill levels.
Thorfinn’s Journey is the latest release under the Million Stars partner program, showcasing the creativity and innovation of YUGO Workshop in association of Million Games.
Thorfinn’s Journey is now available.
The post Million Games and YUGO Workshop Launch Epic Slot: Thorfinn’s Journey appeared first on European Gaming Industry News.
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