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SharpLink Gaming Announces First Quarter 2024 Results and Provides Operational Update

Published

2 years ago

May 22, 2024

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.

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Logifuture Joins Forces with BetConstruct AI to Expand Virtual Sports

Published

10 hours ago

March 5, 2026

Wladimir P.

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Logifuture, a leading B2B provider of virtual sports and instant gaming solutions, has announced a strategic partnership with BetConstruct AI, a global iGaming platform powering hundreds of operators worldwide. This collaboration integrates Logifuture’s flagship products, Zoom Sports and Simulate, into BetConstruct AI’s platform, significantly expanding access to innovative engagement tools for operators.

Expanding Global Reach

The partnership enables operators to offer next-generation virtual sports and instant betting solutions, enhancing player activity and generating incremental revenue.

Zoom Sports delivers ultra-realistic virtual football and tennis events in both full-length and turbo formats, offering thousands of daily betting opportunities.
Simulate allows players to instantly simulate the outcome of betslips, removing waiting times and creating immediate engagement.

These tools extend player retention, increase betting activity beyond live events, and create cross-sell opportunities across the BetConstruct AI network.

Innovation at the Core

Both Logifuture and BetConstruct AI prioritize innovation and product differentiation, helping operators stand out in a highly competitive market.

Niccolò Cassettari, Chief Business Development Officer at Logifuture, commented:
“Partnering with BetConstruct AI is a major step forward. Their global reach makes them the ideal partner to scale Zoom Sports and Simulate worldwide. This collaboration is just the beginning of a long-term partnership to deliver new experiences and stronger operator performance.”

Looking Ahead

The partnership will focus on expanding distribution, delivering new gaming experiences, and introducing innovative products to keep players engaged while helping operators grow revenue worldwide.

The post Logifuture Joins Forces with BetConstruct AI to Expand Virtual Sports appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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Infingame Launches Enhanced Tournaments and Challenges for Player Retention

Published

10 hours ago

March 5, 2026

Wladimir P.

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Infingame, a leading game aggregator, has rolled out major upgrades to its Tournaments and Challenges promotional tools, offering operators advanced ways to engage and retain players.

Instead of introducing new products, Infingame focused on refining its most popular gamification features, enhancing flexibility, performance, and campaign management. These improvements cater to operators increasingly prioritizing long-term player engagement over acquisition.

Enhanced Competitive Tournaments

Infingame’s Tournaments tool transforms regular gameplay into competitive experiences, boosting interaction through real-time progression. Optimized for web and mobile, the tool now allows operators to:

Customize tournaments with brand-specific banners
Segment players for whitelist participation
Add timed promotions like Happy Hours
Select from five tournament formats: bet race, win race, multiplier race, highest multiplier, and highest win

The updated reward system supports monetary and non-monetary prizes, free spins, optional wagering requirements, and automated payouts, reducing operational workload while maintaining campaign flexibility.

Challenges for Mission-Based Engagement

The Challenges tool guides player activity with structured tasks and rewards, creating mission-based engagement journeys. The upgrade enhances flexibility and precision, supporting:

Short-term promotional boosts
Recurring engagement strategies
Daily and long-term challenges for consistent player activity

This approach helps operators sustain engagement across the entire player lifecycle, creating meaningful, repeatable experiences.

Operator-Driven Development

Jana Filagina, Head of Commercial at Infingame, commented:
“The goal wasn’t to reinvent Tournaments and Challenges but to make them more powerful and user-friendly. Operators need tools that drive engagement continuously while keeping operational complexity low.”

Fully integrated into Infingame’s aggregation platform, the updated tools can be deployed instantly across thousands of games via a single API, enabling a unified ecosystem where content, analytics, and engagement mechanics work seamlessly together.

The upgrades reflect a broader industry trend toward gamified, retention-focused strategies, helping operators maximize player activity while simplifying management.

The post Infingame Launches Enhanced Tournaments and Challenges for Player Retention appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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Hugo Casino Teams Up with CasinoCanada to Expand in Canada

Published

11 hours ago

March 5, 2026

Wladimir P.

hugo-casino-teams-up-with-casinocanada-to-expand-in-canada

Hugo Casino, a popular online gaming platform operated by Kawaii Partners, has officially partnered with CasinoCanada.com to strengthen its presence in the Canadian market. The collaboration will focus on editorial coverage, analytical reviews, and SEO-optimized content tailored for Canadian players.

Under this partnership, CasinoCanada will produce detailed reviews, comparison guides, and data-driven insights, aimed at delivering transparent, research-based evaluations of Hugo Casino’s platform. The content strategy is designed to attract high-quality, search-driven traffic, helping players make informed decisions while enhancing Hugo Casino’s digital visibility.

Eugene Ravdin, Head of PR at SEOBROTHERS, which operates CasinoCanada, commented:
“Partnering with Hugo Casino aligns with our strategy of working with operators who prioritize compliance, security, and quality user experiences. Hugo Casino has a strong operational foundation and clear product vision. Our goal is to provide objective, data-driven content that drives sustainable long-term traffic and measurable results.”

Hugo Casino operates under a Curacao license and offers a wide portfolio of online entertainment, including slots, table games, and a fully immersive Live Casino. Security is a priority, with advanced encryption safeguarding players’ personal and financial information. Customer support is available 24/7 via Live Chat and email.

Players can access over 10,000 casino games, featuring top titles from leading providers such as Pragmatic Play, Play’n GO, and Yggdrasil. Hugo Casino supports 10 fiat payment options and 12 cryptocurrencies, making deposits and withdrawals simple and convenient.

Kawaii Partners, launched in 2023, also operates Spinzen Casino, expanding its portfolio in the online gaming and affiliate marketing space.

This partnership with CasinoCanada highlights Hugo Casino’s commitment to transparency, high-quality content, and a growing Canadian audience.

The post Hugo Casino Teams Up with CasinoCanada to Expand in Canada appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.