EveryMatrix experienced significant growth in its net revenue, which was 75% higher year-on-year. This growth was seen across all core businesses within the company. The EBITDA for the 12 months ending on December 31, 2023, also jumped 155% to €60m. While the casino remained the primary source of revenue for EveryMatrix, there was also growth in the sports betting segment, as well as in the platform and affiliate divisions.
EveryMatrix CEO Ebbe Groes expressed his satisfaction with the annual results, describing them as “mind-blowing.” He praised the hard work of every employee and the contribution of every business unit in achieving these stellar financials. Groes particularly highlighted the development of their OddsMatrix technology, which has enabled them to deliver to some of the largest operators in Europe. This growth has propelled OddsMatrix to become one of the largest sportsbook providers in the industry.
Breaking down the performance for the full year, casino activity accounted for €54.7m of annual revenue, an increase of 86%. The EBITDA for the casino segment also rose by 162% to €32.3m. This was driven by an increase in casino vendor integrations and the launch of new games. The casino content went live with 98 new operators during 2023.
In the sports betting segment, revenue grew by 51% to €29.1m, with EBITDA increasing by 103% to €13.5m. The number of bets and available live events also saw significant year-on-year growth, with average sports bets per day reaching 234,000.
Platform revenue almost doubled to €25.7m, and the EBITDA surged by 344% to €12.5m. Average transactions per day also increased compared to the previous year. Affiliate revenue climbed by 39% to €4.4m, but EBITDA for this segment experienced a slight decline of 21% to €1.2m. Affiliates’ net gaming revenue on PartnerMatrix increased by 77% to €326m.
The record-breaking performance in the fourth quarter of 2023 significantly contributed to the full-year results. Revenue for the quarter was 87% higher at €36m, with EBITDA reaching an all-time high of €20m, which was a 194% increase. In the casino segment, revenue jumped by 101% to €17.9m, with EBITDA growing by 212% to €11.4m. Sports betting revenue increased by 69% to €9.1m, with EBITDA rising by 178% to €4.9m. Platform revenue for the quarter increased by 91% to €7.9m, and EBITDA showed a substantial growth of 283% to €4.0m. Affiliate revenue also saw a 39% increase to €1.3m, although EBITDA decreased by 89% due to investment in products and commercial ventures.
Ebbe Groes expressed confidence in EveryMatrix’s future, mentioning the investment in PlayMatrix, a new live casino product, and the company’s focus on new technologies, innovations, and acquiring new tier-one customers. He also revealed plans for a new headquarters in Bucharest and emphasized the bright prospects for EveryMatrix in 2024 and beyond.
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