EveryMatrix Pushes Into Live Casino as Q1 2025 Revenue Hits €54M

EveryMatrix CEO Ebbe Groes has unveiled the company’s latest and most ambitious step to date: a full-scale entry into the live dealer casino space. During the company’s Q1 2025 presentation held at its new London office, Groes described the move as “by far the biggest risk we’re taking today,” signaling a major strategic shift intended to boost market share and expand product capabilities.

“We saw Evolution’s numbers and they weren’t so great,” Groes stated, referencing the live casino sector’s dominant player. “We believe there’s space for us.”

While the company had previously seen live casino operations as costly and technically demanding, Groes confirmed that internal systems are now operational, and the company has already made its first sale of dedicated live tables — marking its official entry into the vertical.

The company’s decision to bet on live casino comes amid a strong Q1 2025 performance. EveryMatrix reported a 39% year-on-year rise in net revenue, reaching €54 million, with 32% stemming from organic growth and another 7% attributed to recent acquisitions, including FSB Technology.

Group EBITDA hit €28 million, resulting in a 52% margin, slightly below the 57% recorded in Q1 2024. Sequentially, this marks a dip from €54.6 million in net revenue and €30.4 million in EBITDA in the previous quarter, reflecting the impact of continued reinvestment.

Despite the slight decline, the company cited ongoing development in both casino content and live dealer products as key reasons for the reduced margin — consistent with its broader growth strategy.

The casino segment delivered its best-ever quarter, with net revenue increasing 44% year-on-year to €28.6 million. Casino EBITDA also saw a healthy 29% rise, reaching €16.8 million. Among EveryMatrix’s operator clients, casino gross gaming revenue (GGR) climbed 22% to €753 million, underlining the segment’s momentum.

In parallel, the sports division also posted a strong showing, with turnover up 30% year-on-year to €1.7 billion, while sports GGR jumped 60% to €154 million, fueled by favorable trading margins.

On the other hand, the affiliate division underperformed. Net revenue dropped by 4% to €1.3 million, and EBITDA fell to -€0.7 million, following the integration of DeepCI, an affiliate optimization service acquired in 2023. Despite the setback, Groes expressed confidence in the deal, stating: “One plus one is zero in this case,” referring to the challenges of merging systems and operations, but added that he still believes in its long-term value.

Alongside the live casino launch, EveryMatrix also introduced a new horse racing product, leveraging expertise gained through its acquisition of FSB. Developed by the OddsMatrix team, the offering includes coverage of over 10,000 monthly races, enhanced system bet features with bonuses, and a rich, front-end racecard interface complete with live streaming.

“The key thing we were missing before was horse racing,” Groes said. He praised the team’s effort in bringing the product to market just nine months after the FSB deal, positioning it as another essential piece in the company’s growing platform.

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Acknowledging the complexity of executing several major initiatives at once, Groes stated, “We are trying to invest in multiple things at the same time. That can be difficult.” But for , the challenges are part of an aggressive strategy aimed at building a more diverse, high-performance portfolio.

By entering the live casino market, enhancing its sports and racing capabilities, and continuing to refine its casino content and affiliate operations, EveryMatrix is clearly positioning itself for long-term growth and increased competition in key global verticals.

Source:

, next.io, May 5, 2025