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SharpLink Gaming Announces Second Quarter 2024 Financial Results

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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 financial results for the three and six months ended June 30, 2024.

Rob Phythian, Chairman and CEO of SharpLink, stated, “The first half of 2024 has largely been marked by our Company’s efforts to materially strengthen our balance sheet, and narrow our focus on our performance-based marketing business through several strategic initiatives, namely:

  • The sale of our SportsHub Games Network and sports games development businesses in January of this year for $22.5 million in an all-cash transaction;
  • The extinguishment of all interest-bearing debt;
  • The raising of $71,356 from our At-the-Market Offering during the first six months of this year; and
  • The receipt of $297,387 in an earn-out accrued in June 2024 and paid in July 2024, which related to our sale of MTS, SharpLink’s legacy telemanagement solutions business sold to EntryPoint South Ltd. in December 2022.”

Continuing, Phythian said, “As a result, SharpLink has emerged with a very lean operating base that is free of debt, and we have a management team and Board of Directors equally committed to pursuing strategic growth opportunities capable of increasing shareholder value over the long-term.”

Financial Highlights

  • Revenues for the three and six months ended June 30, 2024 totaled $981,272 and $1,957,218, respectively – a 27% and 24% decline from revenues of $1,343,526 and $2,576,287 reported for the comparable three and six month periods in 2023, respectively.
  • Operating expenses decreased 31% to $1,484,680 from $2,136,936 for the comparable three-month reporting periods; and declined 17% to $3,456,755 from $4,182,270 for the six months ended June 30, 2024 and 2023, respectively.
  • After factoring net income from discontinued operations of $453,705, net losses dropped to $462,959 for the three months ended June 30, 2024 from net losses of $3,441,158 after factoring net losses from discontinued operations of $1,035,099 for the same three-month period in 2023. For the six months ended June 30, 2024, net income totaled $11,887,397 after factoring net income from discontinued operations of $14,564,872 – significantly up from a net loss of $6,264,904 inclusive of the net loss from discontinued operations of $1,701,662 posted for the same six month period in the prior year.
  • As of June 30, 2024, cash on hand was $2,435,600 and total stockholders’ equity was $2,760,915. This compared to $2,487,481 cash on hand and total stockholders’ deficit of $9,399,769 as of December 31, 2023.

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From Cost Center to Growth Driver: Rethinking Geolocation in a Regulated World

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In a fragmented and fast-evolving regulatory landscape, geolocation has become a critical pillar of compliance, fraud prevention, and operational strategy. But as new formats like sweepstakes, prediction markets, and DFS+ gain traction, and new global markets opening up, operators face increasing pressure to adopt location solutions that are not just accurate, but adaptive.

Ron Braunfeld, Chief Revenue Officer at Xpoint, shares his perspective on how operators can navigate this complex ecosystem, what trends are shaping demand, and how early client feedback has helped define a smarter approach to geo-compliance.

 

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In a market crowded with both low-cost entrants and premium vendors, how should operators navigate the geolocation landscape to ensure they get the best solution for them?

Operators should look beyond sticker price and evaluate geolocation providers on overall value and risk mitigation. It’s easy to be tempted by bare-bones, bargain offerings that perform only basic location checks, but those can leave compliance gaps or blind spots. In contrast, premium solutions tend to bundle critical features like fraud detection, high uptime, and real-time support as standard features, turning geolocation from a mere checkbox into a comprehensive compliance tool.

Operators should select a partner that scales with their business. For example, a startup might start with a usage-based plan and expand as it grows, while a large multi-state operator should see volume-based discounts. In short, the best approach is to weigh long-term reliability and capability over rock-bottom cost, ensuring the geolocation service can prevent costly missteps and even unlock useful insights, not just verify a location.

 

Which verticals or regions have shown the biggest, unexpected appetite for precise location verification?

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One surprising vertical has been daily fantasy sports (DFS). Initially, DFS platforms weren’t under the same strict state-by-state regulations as sportsbooks or online casinos, so many assumed they’d take a minimal compliance approach. Instead, as DFS grew, operators became highly proactive. Mature DFS companies began demanding the same level of precision and fraud resistance as regulated betting operators, recognizing that even a small number of out-of-state users slipping through could pose serious legal and reputational risks​.

Another unexpectedly hungry segment is sweepstakes and skill-gaming platforms. These businesses occupy a gray area in terms of gambling law – sweepstakes-based casinos or prize games aren’t clearly ‘gambling’ in the traditional sense. With legal scrutiny mounting, states are already debating whether sweepstakes constitute gambling, proactive operators have implemented precise geolocation controls. Some have even asked providers for state-by-state geofencing to ensure they don’t inadvertently allow play from jurisdictions that might challenge their model​. It’s essentially anticipating regulation. By acting as if they are regulated and rigorously geofencing where users can participate, they demonstrate a commitment to operating above board. It shows that across the board, from fantasy sports to sweepstakes games, the industry increasingly views precise location tech not just as a legal hurdle, but as a foundation for a trustworthy, scalable operation.

 

Which upcoming innovations or market trends do you expect will have the biggest impact on geo-compliance demand over the next two years?

Several forces are converging to reshape the future of geo-compliance. Geolocation is becoming deeply integrated into the broader security and personalization stack. The most forward-thinking operators are starting to link location intelligence with fraud prevention, responsible gaming, and even targeted marketing. In the next two years, the biggest differentiators won’t just be accuracy or uptime, they will be the ability to power multiple use cases from a single, trusted location platform.

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Meanwhile, global market expansion is driving both scale and complexity. Jurisdictions such as Brazil and the UAE are rolling out or tightening their regulatory frameworks, often requiring location validation as a condition of licensure. This will push operators to adopt flexible, modular compliance infrastructure that can be customized market by market, as more areas continue to regulate.

 

How does early adopter feedback shape your commercial and product roadmap, and what’s a key lesson you’ve learned from client insights?

Client feedback is often the earliest signal of where the market is heading. Operators on the front lines, especially those pioneering new betting formats or entering emerging jurisdictions, tend to uncover challenges that aren’t yet on most providers’ radar. Listening to those early adopters can reveal opportunities to build products that solve real pain points, not just theoretical ones.

Another recurring theme is the need for transparency and flexibility in partnerships. Leading operators now expect their compliance agreements to function as living, breathing documents, regularly updated to mirror regulatory shifts, market developments, and evolving risk profiles. Providers that explain their data sources clearly, pivot swiftly when rules change, and scale support in lockstep with client growth earn lasting trust. This feedback loop, where operators push boundaries and providers refine solutions, has emerged as a core driver of innovation in geolocation. Partnerships are no longer static contracts, they’re collaborative roadmaps for confident, sustainable expansion.

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The post From Cost Center to Growth Driver: Rethinking Geolocation in a Regulated World appeared first on European Gaming Industry News.

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QTech Games shines a light on Shady Lady for more innovative content

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Emerging-markets leader expands its content portfolio with standout games from a bold, impactful supplier

QTech Games, the leading game aggregator for emerging markets, has continued to build the strong momentum in its premium pipeline, thanks to its latest deal with Shady Lady, a bold disruptive force in the slots sector. The launch extends Shady Lady’s international footprint, unlocking untapped emerging markets for diversified growth.

This timely integration adds yet more creative muscle to QTech’s aggregation platform, which is taking the widest array of online games to emerging territories with established names sitting alongside the industry’s most exciting and innovative providers.

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Accordingly, Shady Lady is already one of the most mercurial and exciting game studios in the industry. And this integration with a genuine emerging force pens another thrilling addition to QTech Games’ sprawling and well-curated library of immersive gaming experiences.

Think: enigma, wrapped in a riddle, parcelled into a variety of eye-catching packages – as evidenced by a string of recent hits like Brain Washed, Devil’s Finger and Office Party. In short, it’s all about daring to be different and norm-busting in an increasingly homogenised slots space. All of which makes Shady Lady a compelling new character in any portfolio – one that wins its audiences over by preferring nuance to clanging bells and whistles, upending outdated themes and copycat narratives with clever plot-twists and engaging story-rich features.

QTech Games’ CEO, Philip Doftvik, said: “At QTech, we’re about so much more than pure aggregation – just take our sought-after campaign tools, or AI-powered QT Play game lobby, which means that operators don’t have to build their own casino lobby. Naturally, we’re committed to rolling out high-quality content that drives revenue for our partners and creates unique experiences that users remember and return to play.

“Shady Lady understands this need and is already delivering in spades with some bold and beautiful games that reinvigorate tired themes and play with conventional expectations. Alongside immersive soundscapes, stunning visuals and inventive mechanics, Shady Lady excels at fusing creativity with maths to craft visually thrilling, high-performing games that push the envelope on player experience and online hang-time.”

Marla Singer, spokesperson for Shady Lady, added: “Shady Lady isn’t here to throw shade on traditional slots – we are here to disturb the peace a little. It’s a call to arms for fresh mechanics, striking design, and soundscapes that linger. We believe in games that surprise you, characters that don’t behave, and stories that veer off script. Others chase noise. We tune into the frequency beneath. It’s a quieter kind of rebellion – but it leaves a mark. We don’t follow the rules. We rewrite them. Sometimes in lipstick.”

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Reflex Gaming hooks another hit with Big Game Fishing Golden Catch™

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Reflex Gaming, the UK’s largest independently owned omni-channel game supplier, is making waves once again with the launch of Big Game Fishing Golden Catch™, the latest online release in its hugely popular Big Game Fishing franchise, and proudly powered by Yggdrasil.

This thrilling new slot reels players into a bright and breezy lake, where Reflex’s iconic fisherman, Fred, returns for another unforgettable adventure. With a 5-reel, 3-row layout, high volatility, and a max win potential of 5,000x the stake, Golden Catch is bursting with fun, flair, and fishy fortune.

A standout feature in the game is Max Play Mode, an alternate version of the base game that can be played at the same bet value. In this mode, only Fish, Fisherman and Bonus symbols appear on the reels – turning every spin into a high-stakes hunt for cash prizes. All other symbols are removed, replaced by weight icons that keep the focus firmly on big catch potential.

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Golden Bet offers a clever twist for players eager to reach Free Spins. By increasing their stake by just 1.5x, players unlock the Bonus Respin feature. When two Bonus symbols land, the remaining reels respin, offering a second chance to land the Bonus.

Another feature which is sure to be a fan favourite is Hook a Bonus. At the end of a base game spin, fishing rods can randomly appear above the reels. A line will be thrown containing a hook, hooks can pull Bonus symbols onto the reels, creating Free Spins triggers that keep engagement levels high.

During the Free Spins feature, players begin at a level determined by how many Bonus symbols triggered the round—starting with 10 spins at Level 1 and up to 20 spins at Level 4. Every Fisherman collected not only grabs all visible Cash Fish values but also pushes the player along a nine-stage collection trail. Reaching new milestones upgrades fish values and awards additional spins, creating a satisfying sense of progression and reward.

To add to the excitement, Dual Gamble gives players the option to risk any win for either a bigger cash prize or the chance to enter the Free Spins bonus. It’s a high-risk, high-reward decision point that brings tension and strategy into the mix. For those who prefer to jump straight into the action, a Bonus Buy is available, allowing instant access to Free Spins for 125x the stake.

With bold visuals, Big Game Fishing: Golden Catch™ delivers all the hallmarks of a Reflex favourite. The franchise has already seen huge success across both online and land-based sectors, and this latest evolution is set to cast its net even wider.

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Mat Ingram, CPO at Reflex Gaming, said:  “Big Game Fishing: Golden Catch™ builds on one of our most beloved brands and injects it with new layers of excitement. Players will love the sense of momentum and the thrill of the chase – especially with the Max Play and Hook a Bonus features keeping things lively.
“It’s a fun, focused slot that still delivers serious potential. We expect this one to become a flagship performer in operator lobbies.”

The post Reflex Gaming hooks another hit with Big Game Fishing Golden Catch™ appeared first on European Gaming Industry News.

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