EveryMatrix looking to capitalise on ‘strong’ Michigan igaming space

Image: Shutterstock

EveryMatrix has heaped praise on a region that has “established a solid framework” after the igaming platform provider gained receipt of conditional approval from the Michigan Gaming Control Board.

After filing for licensing in the region earlier in the year, the group is now permitted to distribute its online casino content in the state via CasinoEngine.

This solution provides access to over 12,500 games across more than 250 casino vendors and sub-vendors. It can also be integrated with third party platforms.

This latest point of entry, into a region further lauded as having “delivered strong results” on a consistent basis, is said to form just one stage of a wider ongoing effort to expand the company’s reach.

In addition to Michigan, EveryMatrix has also successfully obtained licensing in West Virginia and New Jersey and has vowed that additional jurisdictions are set to follow.

Erik Nyman, President EveryMatrix Americas, noted: “The state of Michigan has established a solid framework for online gaming and delivered strong results since market opening. 

“We are very pleased that EveryMatrix has been granted the licence approval for igaming and expect to go live shortly with our customers.”

Last month, EveryMatrix noted that it was experiencing the “full Germany effect” after witnessing a strong gross profit performance in casino, as well as on an overall basis during the third quarter period. 

Overall, gross revenue minus direct costs to game suppliers increased by 33 per cent year-on-year in Q3, 2022 to €16.8m, compared to the €14.9m the year prior, with a four-year compound annual growth rate of 35 per cent.

Looking specifically at its casino performance alone, this EveryMatrix unit enjoyed its best gross profit in Q3 totalling €7.7m, representing a 31 per cent year-on-year uptick.