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SharpLink Gaming Reports Full Year 2024 Financial Results

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SharpLink Gaming, Inc., an online performance-based marketing company serving the U.S. sports betting and global iGaming industries, today announced its financial results for the full year ended December 31, 2024.

Financial Highlights

  • Revenues declined 26.1% to $3,662,349 in 2024 from $4,952,725 in 2023.
  • Total operating expenses dropped 45.6% to $5,669,248 for the 12 months ended December 31, 2024 compared to $10,425,865 for the same 12-month period in 2023.
  • Net income rose to $10,099,619, or $2.29 income per share, from a net loss of $14,243,182, or $5.19 loss per share, for the years ended December 31, 2024 and 2023, respectively.
    • Net income from discontinued operations, net of tax, totaled $14,573,262 in 2024, which was up 586.7% from a net loss from discontinued operations, net of tax of $14,243,182 for the prior year.
    • Net loss from continuing operations for the 12 months ended December 31, 2024 totaled $4,473,643, representing a 60.2% decrease when compared to a net loss from continuing operations of $11,248,598 for the 12 months ended December 31, 2023.
  • As of December 31, 2024, cash on hand was $1,436,729, a 42.2% decrease when compared to cash on hand of $2,487,481 as of December 31, 2023. Total stockholders’ equity was $2,082,869 as of December 31, 2024, which compared to a total stockholders’ deficit of $9,399,769 as of December 31, 2023. From May 2024 through to February 6, 2025, the Company raised gross proceeds, in aggregate, of $1,834,925 pursuant to its At-The-Market Offering, offered under its initial and supplemental prospectuses filed with the U.S. Securities and Exchange Commission – of which $896,215 in gross proceeds were raised as of December 31, 2024 and the remaining $938,710 was raised in early 2025.

2024 Operational Highlights

  • On January 18, 2024, SharpLink completed the sale of its Sports Gaming Client Services and SHGN businesses to RSports Interactive, Inc. 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 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.
  • In July, announced that the Board of Directors had initiated a formal review process to evaluate strategic alternatives for the Company, including, but not limited to, a sale, merger, strategic business combination or other transaction, which the Board and management felt offered the best opportunities to operative SharpLink’s affiliate marketing business, drive growth and create and maximize value for the Company’s stockholders.
  • Subsequent to the end of the year, in February 2025, SharpLink announced that the Company acquired a 10% equity stake in U.K.-based Armchair Enterprises Limited (“Armchair”), which owns and operates CryptoCasino.com. The acquisition was made for $500,000 in cash, along with a right of first refusal to acquire a controlling interest in Armchair.

Rob Phythian, Chairman and CEO of SharpLink Gaming, stated, “As I reflect on our financial results for 2024, I am proud of the decisive actions our leadership has taken to streamline and focus SharpLink’s business operations and position our Company for future growth. The successful sale of our fantasy sports and sports game development businesses and the elimination of our debt marked pivotal moments in our journey. Looking ahead, we remain committed to exploring strategic opportunities that will enhance our affiliate marketing business and increase stockholder value. Our recent investment in Armchair Enterprises is a testament to our proactive approach to identifying and capitalizing on emerging trends in the iGaming space.”

“In particular, we see significant potential in blockchain technologies, which are poised to revolutionize the global digital gaming sector. The transparency, security and efficiency offered by blockchain can enhance user experiences and foster trust within the online gaming community. By embracing these advancements, we believe we can unlock new avenues for growth and makes strides forward in positioning SharpLink as a recognized leader in the markets we serve,” concluded Phythian.

The post SharpLink Gaming Reports Full Year 2024 Financial Results appeared first on Gaming and Gambling Industry in the Americas.

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Evoplay strengthens Brazil footprint with bet365 deal

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Evoplay, the award-winning game development studio, has strengthen its presence in Brazil through a new partnership with leading global operator bet365, marking another step in its growth across regulated Latin American markets.

The agreement sees a selection of top-performing Evoplay titles integrated onto bet365’s Brazilian platform, initially starting with standout releases such as Hot Triple Sevens and Temple of Thunder II Bonus Buy.

The partnership enables Evoplay to bring its diverse portfolio of high-performance content to one of the most promising emerging regulated markets, at a time when Brazil’s evolving landscape continues to create new opportunities for operators and suppliers alike.

By collaborating with bet365, a globally recognised brand known for its extensive reach and strong local engagement, Evoplay reinforces its commitment to delivering tailored content that resonates with regional player preferences.

Alex Malchenko, Head of Sales at Evoplay, said: “Partnering with bet365 represents an important milestone for Evoplay as we continue to expand our Latin American presence and build our network of global operator brands. Brazil is a market with huge potential, and we’re excited to bring a selection of our best-performing titles to its players.

“Our focus remains on supporting operators with content that not only meets regulatory standards but also delivers strong player engagement, and this collaboration is a testament to that approach.”

Spokesperson at bet365, added: “We are pleased to partner with Evoplay as we continue to enhance our offering in Brazil.

Their portfolio of localised games aligns well with our commitment to provide high-quality gaming experiences to our customers.

“We look forward to rolling out additional titles in the near future as we strengthen our collaboration with the supplier in this key market.”

Evoplay

Evoplay is a leading iGaming developer with a portfolio of 250+ slots, table, crash, and instant games.

It uses innovative gameplay and cutting-edge design to elevate user experience and bring new audiences to the world of iGaming.

The company’s commitment to innovation and revolutionary products was recognised by the most prestigious industry awards.

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bet365 is committed to Safer Gambling. We promote gambling as an enjoyable leisure activity, and we believe that gambling can only remain this way if you stay in control and gamble responsibly. However, we know that for some people gambling can stop being a harmless leisure activity and become a problem.

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The post Evoplay strengthens Brazil footprint with bet365 deal appeared first on Americas iGaming & Sports Betting News.

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WE names Valentina Ursini Group Account Director for IBJR and key clients

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Brazilian agency We has hired Valentina Ursini as Group Account Director, where she will lead business strategy and client relationships for accounts including EMS, Novibet, Jovi and IBJR (Brazilian Institute of Responsible Gaming).

Ursini brings experience from Leo Burnett, Ogilvy and TBWA, where she led global and local accounts for brands including Visa, Procter & Gamble, Motorola, Gatorade, Coty, Kimberly-Clark and Friboi.

“We has something that is rare today: genuine proximity to the client’s business and a very clear ambition for shared growth,” Ursini said.

“I am joining a team that already knows these clients deeply, and I bring a fresh perspective on expansion opportunities, efficiency and brand building.

It is about developing the business in a consistent and relevant way.”

Maurício Almeida, managing director at We, said Ursini’s appointment raises the standard of service for the agency’s strategic accounts.

“She combines expertise, consistency and a very pragmatic business vision, which is exactly what we look for in our model. She understands that client relationships only make sense when they translate into results.”

* The Brazilian Institute of Responsible Gaming is a private industry association representing licensed betting operators in Brazil. Its primary role is to support the development of a regulated, transparent and sustainable gambling market in the country.

The organization focuses on promoting responsible gaming practices, contributing to public policy discussions, and working alongside regulators to ensure compliance with Brazil’s evolving legal framework for betting.

It also advocates for consumer protection, market integrity and the reduction of illegal gambling activities.

In the context of the article, the IBJR appears as a relevant institutional player within the Brazilian iGaming ecosystem, reflecting the growing importance of industry representation as regulation advances.

The post WE names Valentina Ursini Group Account Director for IBJR and key clients appeared first on Americas iGaming & Sports Betting News.

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Evoplay adds bet365 to its Brazil operator lineup

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Evoplay has signed a distribution deal with bet365 to launch a selection of its casino titles on the operator’s Brazilian platform.

The rollout begins with titles including Hot Triple Sevens and Temple of Thunder II Bonus Buy, with more games planned to follow.

Alex Malchenko, Head of Sales at Evoplay, said: “Partnering with bet365 represents an important milestone for Evoplay as we continue to expand our Latin American presence and build our network of global operator brands. Brazil is a market with huge potential, and we’re excited to bring a selection of our best-performing titles to its players.

“Our focus remains on supporting operators with content that not only meets regulatory standards but also delivers strong player engagement, and this collaboration is a testament to that approach.”

A spokesperson at bet365 added: “We are pleased to partner with Evoplay as we continue to enhance our offering in Brazil. Their portfolio of localised games aligns well with our commitment to provide high-quality gaming experiences to our customers.

“We look forward to rolling out additional titles in the near future as we strengthen our collaboration with the supplier in this key market.”

The post Evoplay adds bet365 to its Brazil operator lineup appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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