EveryMatrix CEO Ebbe Groes highlighted the company’s push into the live dealer space, calling it “by far the biggest risk we’re taking today.”
EveryMatrix CEO Ebbe Groes highlighted the company’s aggressive push into the live dealer space, calling it “by far the biggest risk we’re taking today” as part of a broader plan to expand product capabilities and market share.
Speaking during the company’s Q1 2025 presentation at the supplier’s new London office, Groes framed the live dealer initiative as a major investment that aims to challenge dominant players in the space.
“We saw Evolution’s numbers and they weren’t so great,” Groes said in reference to the live casino giant’s Q1 2025 results, suggesting room for new contenders. “We believe there’s space for us.”
He noted that while the company once considered live dealer operations expensive and complex, it now has systems up and running — and has already made its first sale of dedicated tables.
Q1 2025 results
In Q1, EveryMatrix reported a 39% increase in net revenue to €54m compared to the same quarter last year — 32% of which was organic, and 7% driven by acquisitions such as sports betting platform FSB Technology.
Group EBITDA came in at €28m, reflecting a 52% margin — down slightly from 57% in the same period last year.
On a sequential basis, net revenue dipped from €54.6m in Q4 2024, while group EBITDA also fell from €30.4m.
EveryMatrix highlighted continued investments in casino games and its live dealer solution as a contributing factor for the decline.
The company’s sports division delivered standout performance, with quarterly turnover jumping 30% year-on-year to €1.7bn.
Gross gaming revenue (GGR) for the segment soared 60% to €154m, supported by strong trading margins.
Meanwhile, the casino division recorded its best-ever quarter. Net revenue rose 44% year-on-year to €28.6m, while EBITDA climbed 29% to €16.8m.
Casino GGR among EveryMatrix’s operator clients reached €753m, reflecting a 22% increase.
However, the affiliate segment underperformed. Net revenue declined 4% year-on-year to €1.3m, while EBITDA fell into negative territory at -€0.7m.
In 2023, EveryMatrix acquired affiliate optimisation service DeepCI and integrated it with its operations.
CEO Ebbe Groes acknowledged the decline in profitability but framed it as a valuable learning experience, stating: “One plus one is zero in this case,” adding that he still believes in the acquisition.
‘Multiple things at the same time’
“We are trying to invest in multiple things at the same time. That can be difficult,” Groes said.
In parallel with its live casino expansion, EveryMatrix has also launched a proprietary Horse Racing solution — another strategic step made possible by the FSB acquisition.
The product combines FSB’s deep industry knowledge with the innovation of EveryMatrix’s OddsMatrix development team.
It offers global coverage of more than 10,000 monthly events, system bets with bonusing capabilities, and a purpose-built front end featuring rich racecard content and live streaming integrations.
“The key thing we were missing before was horse racing,” Groes said, adding that he’s extremely proud the product went live just nine months after the acquisition.