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SharpLink Gaming Announces First Quarter 2024 Results and Provides Operational Update
SharpLink Gaming, Inc. (Nasdaq:SBET) (“SharpLink” or the “Company”), an online performance-based marketing company serving the U.S. sports betting and iGaming industries, today announced its first quarter financial results for the three months ended March 31, 2024, as reported in the Company’s Quarterly Report on Form 10-Q (“10-Q”) filed with the U.S. Securities and Exchange Commission (“SEC”) on Friday, May 17, 2024.
Commenting on the results, Rob Phythian, Chairman and CEO of SharpLink, stated, “2024 kicked off being marked by a pivotal quarter defined by the successful execution of a series of initiatives. We view each of these important milestones as critical first steps in achieving the strategic transformation of our Company, enabling us to ultimately win distinction as a leading pure-play online affiliate marketing company trusted by and relied upon by our U.S. sportsbook and global casino gaming partners.”
As previously announced, on January 18, 2024, SharpLink sold its Sports Gaming Client Services and SportsHub Gaming Network (“SHGN”) business segments to RSports Interactive, Inc. (“RSports”) for $22.5 million in an all-cash transaction. As a result, the historical results for these segments were reflected as discontinued operations in the Company’s consolidated financial statements included in the 10-Q.
Financial Highlights for the Three Months Ended March 31, 2024 Compared to Three Months Ended March 21, 2023
- Revenues from the Company’s continuing operations totaled $975,946 compared to $1,232,762.
- Net loss from continuing operations declined 18.4% to $1,760,811 compared to $2,157,183.
- Net income from discontinued operations, net of tax increased 2217% to $14,111,167 from a net loss from discontinued operations, net of tax of $666,563.
- Net income totaled $12,350,345, or $3.36 income per share on a fully diluted basis – up 537% from $2,823,746, or $1.01 loss per share.
For more detailed information on SharpLink’s first quarter 2024 financial performance, please refer to Form 10-Q filed with the SEC and accessible at sec.gov or on SharpLink’s website at sharplink.com.
First Quarter 2024 Business Highlights
- On January 18, 2024, completed sale of SharpLink’s Sports Gaming Client Services and SHGN businesses to RSports for $22.5 million in an all-cash transaction.
- Immediately following the sale, SharpLink used a portion of the proceeds from the sale to retire approximately $19.4 million, in aggregate, in outstanding debt obligations, thereby eliminating all interest-bearing debt on its balance sheet.
- On February 8, 2024, regained full compliance with Nasdaq Continued Listing Standards.
- On February 13, 2024, completed domestication merger with SharpLink Gaming, Ltd., changing from an Israel limited liability company to a Delaware corporation.
- In February, established new Board of Directors for SharpLink Gaming, Inc. with the appointments of Rob Phythian as Chairman and Leslie Bernhard, Obie McKenzie and Robert Gutkowski as new independent members of the Board.
Continuing, Phythian said, “Given our strengthened balance sheet; our highly engaged Board comprised of world class, accomplished business executives; and our shared commitment to a strategy that is expected to empower us to capitalize on potentially compelling growth opportunities in the sports, entertainment and media industries, SharpLink has great hopes for our Company’s future. We plan to continue to enhance our value proposition to our sportsbooks and casino operator partners, while also actively seeking opportunities to expand our iGaming affiliate marketing network into new U.S and international markets where online sports betting and casino gaming have been legalized. Moreover, we intend to continue executing our strategic transformation with clarity and focus, and in doing so, we hope to deliver strong, sustainable value creation for our fellow shareholders for many years to come.”
“Unlocking SharpLink’s next phase of growth with purpose and cost-discipline will be key to our long-term success and should provide us with greater agility as we build momentum and look to accelerate our growth prospects as 2024 unfolds. To help support our mission and continued strategic transformation, we have filed a registration statement on Form S-3 with the SEC and accompanying prospectus for an At-The-Market offering (“ATM”) which we may utilize to raise growth capital if and when market conditions permit. We have identified other measures that we may also pursue to optimize our assets and further strengthen the foundation on which we are building the ‘new’ SharpLink. Over the course of the next several months, I look forward to sharing many more details on our plans and future ambitions,” concluded Phythian.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities of SharpLink, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
The UK Gambling Commission (UKGC) has unveiled a new and improved Consumer Voice framework, marking a major step forward in how the regulator listens to and understands the experiences of people who gamble in Great Britain.
The new framework expands the Commission’s research capabilities by introducing four specialist research suppliers, each bringing unique expertise to the table. This shift allows the Commission to delve deeper into the views, motivations, and behaviours of gambling consumers – including those from underrepresented or harder-to-reach groups such as people gambling on specific gambling products, particular demographic groups and those experiencing negative consequences from their own or someone else’s gambling.
Under the new framework, the Consumer Voice programme will now be supported by:
Yonder Consulting – specialists in mixed methodology research
The Behavioural Insights Team – experts in experimental and behavioural research
Humankind Research – qualitative experts with a focus on hard-to-reach audiences
Savanta – providers of fast-turnaround, cost-effective research.
Each supplier has signed a two-year contract, with the potential for extension until 2029.
“This new framework gives us greater agility and reach than ever before. With these four partners, we’re better equipped to commission high-quality research quickly and use a range of approaches to respond to emerging trends or risks as they develop. The Consumer Voice programme is central to our efforts to ensure our decisions are grounded in the lived experiences of all consumers and the evolving realities of gambling,” said the Gambling Commission’s Head of Research, Laura Carter.
Consumer Voice complements the Commission’s nationally representative Gambling Survey for Great Britain (GSGB) by offering a flexible, targeted approach to gathering insight. It allows the Commission to conduct deep dives into specific issues, test new ideas and track consumer sentiment over time.
In 2024 alone, the programme engaged with over 10,000 gambling consumers. Previous studies have tackled issues like financial risk checks, bonus incentives and gambling during the cost-of-living crisis.
Joe Wheeler, Associate Director of Yonder Consulting, said: “Over the past three years Yonder Consulting have partnered with the Gambling Commission in delivering mixed-methods research for the Consumer Voice Programme. We’ve supported on a wide range of impactful research programmes, covering elements of the consumer experience like trust in the industry, engagement with the unlicensed market, behaviours during key sporting events and the impact of marketing and bonus offers. We’re delighted to continue our ongoing partnership and to support the Commission in delivering against key policy evidence gaps.”
Eleanor Collerton, Senior Advisor of the Behaviour Insights Team (BIT), said: “We’re delighted to contribute to the Gambling Commission’s Consumer Voice programme. As a global research and innovation consultancy, BIT combines a deep understanding of human behaviour with evidence-led problem solving to improve people’s lives. We’re excited to contribute our expertise in experimental research to generate new insights, address key evidence gaps, and help ensure consumer voices shape meaningful and effective gambling policy, building on more than five years of work to reduce gambling harms in GB.”
Tom Silverman, Co-Founder of Humankind Research, said: “Humankind Research specialises in research with a positive impact, and much of our work is exploring lived experience of complex issues and under-served groups. So we are delighted to be chosen to be the Gambling Commission’s partner for ‘in-depth qualitative research’ within the Consumer Voice framework. It is a fantastic opportunity to work in close collaboration with the Commission to really understand the experiences and needs of people who are involved in or affected by gambling; using sensitive and inclusive research approaches to gain strategic insights that can help to guide policy and priorities.”
The post UKGC Launches New Consumer Voice Framework appeared first on European Gaming Industry News.
Bet Builder bets are taking the global football betting world by storm, with Entain’s Global Sportsbook reporting record-breaking growth in 2024 and 2025. Thanks to major tournaments like EURO 2024 and Copa América, Bet Builder stakes more than doubled last year, and the momentum shows no signs of slowing.
In September 2024, all Entain digital brands completed the transition to an in-house built Bet Builder product. It is being improved and developed by the product and technology teams constantly to great effect with Bet Builder share of bets doubling in the first half of 2025. This Saturday’s Champions League Final between Inter Milan and PSG is on track to become the most popular club match ever for this type of bet.
“Bet Builders have quickly become one of the most influential innovations in modern sports betting. In an otherwise low-scoring sport, customers can create bets that align with their predictions for the flow or story of a game. They offer fans customisation, interactivity, and the chance to leverage niche insights in a strategic way,” said Tom Ritzema, Group Trading Director at Entain.
Highlights:
• The Argentina vs. Brazil World Cup qualifier in March was the biggest Bet Builder event of 2025 so far.
• England vs. Spain in the EURO 2024 Final remains the largest Bet Builder match ever recorded.
• Spanish football leads globally, with around 20% of all football bets now being Bet Builders, while it is also hugely popular in the Brazilian market.
• Shots on target has surged as a top market, especially in South America, alongside match result and total goals.
The trend is especially strong among recreational bettors who prefer frequent, lower-stake bets with higher returns. In Brazil, nearly 40% of all wagers on key domestic fixtures like Corinthians vs. Palmeiras were Bet Builders, as well as Brazil’s major international fixtures.
With increasing global adoption, especially in Europe and South America, Bet Builders are reshaping how fans engage with football betting, offering unprecedented personalisation and control. The next step will be to offer the bet builder product In-Play across all Entain labels.
Top Bet Builder Markets (2025):
Spain
Brazil
Canada
Belgium
Greece
Most Popular Bet Builder Selections:
Match Result
Total Goals
Player Shots on Target
Total Corners
Both Teams to Score.
The post Bet Builders Boom: Entain Reports Record Growth in Customised Football Betting appeared first on European Gaming Industry News.
Michel Groothuizen, chairman of the Netherlands Gambling Authority, has been unanimously appointed as general board member of the board of the Gambling Regulators European Forum (GREF) for the period 2025-27. GREF is a partnership in which gambling regulators from Europe share knowledge, experiences and best practices and work together on a safe and fair gambling market.
In his new role, he will spend the next two years working to strengthen the importance of GREF and to further grow the organisation. His personal mission is to work with other regulators to establish shared standards in the area of gambling supervision.
“An example of this is the clear standard that gambling under the age of 18 is an absolute no go,” said Groothuizen.
He looks forward to a pleasant collaboration with other countries in the coming administrative period.
The post Michel Groothuizen Joins GREF as Board Member appeared first on European Gaming Industry News.
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