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Infront to Become ITF Official Data Partner

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Infront, the international sports media and marketing agency, has been selected as the successful bidder for the ITF’s global data and betting streaming rights for the period 2025-2029, following an extensive RFP process that began in early 2023 and saw a number of bidders submit detailed proposals.

The deal, beginning in 2025, encompasses a number of ITF produced events marking a significant step in the development of Infront’s data business.

The new five-year agreement will help to deliver an enhanced fan experience through rich data and metrics, create new commercial opportunities and develop compelling data stories around ITF events.

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Innovations will include a new umpire scoring solution, with Infront supplying more than 650 handheld devices to be transported around the world as per the requirements of the ITF competition calendar.

The partnership will produce a significant financial uplift for the ITF, allowing for increased funding for global tennis development and continued investment in the competitive pathway, which has seen record prize money for women in two consecutive years across the ITF World Tennis Tour.

The parties will now work together to agree and finalise contractual terms in preparation for the new rights cycle.

Kelly Fairweather, CEO of ITF, said: “Bringing matches alive through live scoring and streaming is at the heart of the fan, participant, media and market engagement in our competitions, as well as being pivotal to growing our game and essential to integrity. We’re delighted to appoint Infront as our Official Data Partner from 2025-2029.

“Tennis fans are at the centre of what we do at the ITF and the new partnership with Infront will enable us to provide a better end-to-end experience for all fans. We will also see innovation out on the court and a significant financial uplift from these rights that we will use to support the player pathway and the development of tennis globally.

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“I would like to take this opportunity to thank all bidders who took part in this competitive tender process. I would also like to thank our current partner, Sportradar, for everything they have delivered for us over more than a decade and we look forward to continuing to work with them in the remaining period of our partnership to the end of 2024.”

Chris Catling, Senior Director of Infront, said: “This partnership is monumental for Infront. We’ve been diligently working on expanding our operations in this area of our business, specifically what we can offer our range of customers when it comes to data.

“The Infront technology arm, The Lab, will be key to driving technology innovation. This agreement with the ITF, an Olympic federation, is a testament to our efforts and we look forward to implementing our innovative solutions with the ITF and collaborating with them to elevate the growth of tennis.”

The new contract with Infront is another commercial outcome of “ITF2024”, the ITF’s long-term plan for sustainable growth. Since its introduction, the strategy has helped drive a significant upturn in the ITF’s financial performance and enabled record levels of funding for the global game. The ITF’s reinvestment in tennis has grown by 95.4% or $41.5 million since 2015 to $85.0 million last year.

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SharpLink Gaming Announces First Quarter 2024 Results and Provides Operational Update

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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 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

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  • 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.

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Gaming Innovation Group – Minutes from Annual Meeting of Shareholders

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The Annual Meeting of Shareholders in Gaming Innovation Group Inc. was held today, 22 May 2024, in Stockholm, Sweden. Shareholders representing 57.10% of the shares entitled to vote were present in person or by proxy.

The Annual Meeting approved the Company’s Annual Report for 2023.

The Annual Meeting resolved that the Board of Directors should consist of five members and resolved to re-elect Mikael Riese Harstad as Director of the Board and elect him as new Chairman, to re-elect Hesam Yazdi as Director of the Board, and to elect Cristina Romero de Alba, Mateusz Juroszek and Nicholas Batram as new Directors of the Board. It was further resolved to approve the proposal from the Nomination Committee for remuneration to the Board of Directors.

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The Annual Meeting further resolved that the Nomination Committee shall consist of not less than three and not more than four members, to represent all shareholders, and be appointed by the three largest shareholders as at 31 August 2024.

Finally, the Annual Meeting resolved to reappoint REID CPAs LLP as auditors of the Company, and to give the Board of Directors authority to buy back already issued and outstanding shares in the Company as proposed in the Notice of Annual Meeting of Shareholders.

GiG Media and GiG Platform Boards

As part of the process to split the Company by distributing GiG Platform to the shareholders, the Company now have two separate board compositions. GiG Media will continue to operate under GiG’s current corporate structure, with GiG serving as its listed holding company. GiG Platform, currently operated as a subsidiary of GiG, will be spun off to GiG’s shareholders later this year. GiG Platform now has a board of directors consisting of Petter Nylander as chairman, along with Nicolas Adlercreutz, Mikael Riese Harstad, Hesam Yazdi, Tomasz Juroszek and Steve Salmon as ordinary board members.

The post Gaming Innovation Group – Minutes from Annual Meeting of Shareholders appeared first on European Gaming Industry News.

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4ThePlayer.com

4ThePlayer Approved for License by Pennsylvania Gaming Control Board!

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4ThePlayer.com is delighted to announce the latest development in its expansion across the United States; in a recent meeting, the Pennsylvania Gaming Control Board (PGCB) approved the Company’s participation in the Commonwealth’s iGaming market.

This achievement marks a key step in their strategic US market expansion and underscores their commitment to growing their presence in the regulated US market.

Pennsylvania is the fourth market, following New Jersey, Michigan, and Connecticut, to license and embrace their player-centric and entertainment-focused games.

An exciting portfolio, featuring top-performing titles such as 4 Fantastic Lobsters and 9k Yeti will soon be launched in Pennsylvania and live across the company’s impressive customer list.

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Chris Ash, the Business Development Director and co-founder of 4ThePlayer.com said: “I am thrilled we can bring our unique gaming experience to the players of Pennsylvania. After the success we have seen with these titles in other states, we are excited for players in Pennsylvania to play them!”

Pennsylvania’s online casino market has been showing a steady growth trajectory with iGaming revenue 40.5% higher at $184.9m, compared to $131.6m in 2023 with online slots revenue alone jumping 35.6% to $125.9m.

4ThePlayer games will be available in Pennsylvania via Gaming Realms, 4ThePlayer’s trusted platform partner.

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