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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

  • 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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Xpoint gains Massachusetts vendor license as North American expansion accelerates

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Xpoint, a leading geolocation and compliance technology company, has officially secured a vendor license to enter the regulated sports betting market in Massachusetts. The approval marks another strategic milestone in the company’s accelerating North American expansion, reinforcing its role as a core provider of gaming infrastructure.

Xpoint’s geolocation solution is now available to operators across the Bay State, delivering high-precision tools designed to ensure player activity remains fully compliant with the strict regulatory framework established by the Massachusetts Gaming Commission.

With Massachusetts added to its portfolio, Xpoint is now authorized to support regulated online sports wagering across 28 states and territories, as well as Ontario in Canada.

The license follows a period of sustained global expansion, including recent market entries in Missouri, Brazil, and the United Arab Emirates.

Built specifically for the gaming industry, Xpoint’s platform uses advanced geofencing technology to deliver precise location verification. By leveraging multiple data points, the system helps prevent wagers from unauthorized jurisdictions while identifying suspicious activity in real time.

The company’s platform development has also been supported by a recent investment round aimed at accelerating growth and enhancing product capabilities.

Manu Gambhir, CEO of Xpoint, said: “Securing our license in Massachusetts is a vital step as we continue to make strides in the geolocation space. Massachusetts has a passionate sports culture and a sophisticated regulatory framework, and we are excited to provide the precision technology necessary to maintain the integrity of the state’s sports betting ecosystem.

“Our growth into the Bay State demonstrates our team’s ability to navigate complex regulatory landscapes quickly and efficiently. This expansion underscores the global demand for more innovative and adaptable compliance solutions, and we remain committed to being the most reliable partner for regulated operators worldwide.”

The post Xpoint gains Massachusetts vendor license as North American expansion accelerates appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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NODWIN Gaming’s VALORANT Challengers South Asia 2026 Set for Broadcast Kickoff; Registrations Close March 4

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With registrations entering their final phase, NODWIN Gaming, in partnership with Riot Games, is set to kick off the broadcast phase of VALORANT Challengers South Asia (VCSA) 2026, marking the start of another high-stakes competitive season in the region.

The official VCSA 2026 broadcast will stream live on the NODWIN Gaming and Valorant Esports South Asia YouTube channels, bringing fans across South Asia closer to the region’s top VALORANT talent as teams begin their Split 1 campaigns.

Registrations for Split 1 remain open until March 4, 2026, inviting eligible teams across South Asia to compete in the region’s premier VALORANT circuit—the official pathway for teams aiming to reach the VCT Last Chance Qualifier (LCQ).

Register here: https://bit.ly/VCSA2026

Season Overview

The 2026 season introduces a refined multi-stage competitive structure, featuring Open Qualifiers, two Splits, Promotion & Relegation, and a culminating Grand Final to crown the regional champions.

Key Dates – Split 1

  • Registration Window: Till March 4, 2026

  • Open Qualifiers: March 7 – March 11, 2026

  • Split 1 Broadcast Begins: March 16, 2026

  • Split 1 Playoffs: April 8 – 9, 2026

Eligibility Requirements

  • Minimum Rank: Immortal 1 and above (V25 Act 6)

  • Regions: India, Bangladesh, Sri Lanka, Nepal, Bhutan, Afghanistan & Maldives

  • Premier Team Seeding: Based on V25 Acts 4, 5 & 6

Tournament Structure Overview

Open Qualifiers & Playoffs

The competition begins with an open circuit designed to spotlight emerging talent across South Asia.

Open Qualifiers

  • Single Elimination

  • Best-of-Three (Bo3)

  • Top 10 teams advance to OQ Playoffs

OQ Playoffs

  • Double Elimination

  • Bo3

  • Top 5 teams qualify for Split 1

The top three teams from VCSA 2025 receive direct invitations to Split 1.

Split 1

Team Composition

  • 5 teams from OQ Playoffs

  • 3 direct invite teams

  • Total: 8 teams

Format

  • Single Round Robin

  • Bo3

  • 28 matches across 14 match days

Advancement

  • Top 6 teams advance to Split 2

  • Bottom 2 teams move to Promotion & Relegation

Split 2 & Grand Finals

Split 2 will feature eight teams competing in a single round robin format. The top four will advance to the Playoff Stage, where a single-elimination bracket (Bo3, Bo5 Grand Final) will determine the VALORANT Challengers South Asia 2026 champions.

Game Changers South Asia 2026

Running alongside the main circuit, Game Changers South Asia 2026 will feature two competitive splits with open qualifiers, reinforcing inclusive growth within the region’s VALORANT ecosystem. The winner of Split 2 will advance to the Game Changers Pacific Stage.

Building on a Landmark 2025 Season

VCSA 2026 follows a record-breaking 2025 edition, where Velocity Gaming secured the VCT Ascension Pacific slot after a dominant 3–1 Grand Final victory over S8UL at the Ascension Qualifiers LAN.

The 2025 season recorded over 12 million views and peaked at 50,000+ concurrent viewers, cementing VCSA’s position as one of South Asia’s most-watched VALORANT tournaments.

With viewership at an all-time high and competitive standards rising, the 2026 season promises even greater intensity.

From the Organizers

Gautam Virk, Co-Founder & CEO, NODWIN Gaming, said:
“As we head into the broadcast phase of VCSA 2026, the excitement across the ecosystem is palpable. This circuit represents the pinnacle of competitive VALORANT in South Asia, and our structured pathway ensures that every team from open qualifiers to grand finalists earns their position through performance. After the incredible momentum of last season, we are confident that 2026 will further elevate the region’s competitive standard.”

Sukamal Pegu, Head of Esports India and South Asia, Riot Games, added:
“Competing in VCSA continues to be one of the most defining experiences for teams in South Asia. The level of competition, the scale of production, and the passion of the community make this circuit truly special. With the new season underway and the clear path connecting Tier-2 to Tier-1 already announced, we’re excited to see both established rosters and emerging contenders raise the bar even higher.”

With broadcasts set to begin and registrations closing soon, the road to VALORANT Challengers South Asia 2026 is officially underway. Teams across the region are invited to step forward and shape the next chapter of South Asian VALORANT.

The post NODWIN Gaming’s VALORANT Challengers South Asia 2026 Set for Broadcast Kickoff; Registrations Close March 4 appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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DEGEN Studios adds commercial firepower with Adam Miles

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DEGEN Studios has appointed Adam Miles as Director of Sales, accelerating its commercial engine as the studio pushes further into global markets.

Adam joins DEGEN with extensive experience across the iGaming industry, specialising in business development, account management and strategic partnership growth. Most recently, he served as Head of Sales at BetGames, where he led commercial strategy, built high-performing teams and strengthened operator relationships across key territories. Prior to that, he held a senior Business Development role at ARRISE, a global leader in software development and services for the iGaming industry.

In his new role, Adam will lead DEGEN’s global sales strategy, focusing on expanding distribution, deepening operator partnerships and ensuring the studio’s high-volatility, identity-led portfolio reaches the right audiences.

Adam joins at a time of momentum for DEGEN, with new titles launching and the recently unveiled DEGEN Powered initiative broadening the studio’s collaborative ecosystem.

Adam Miles, Director of Sales at DEGEN Studios, said: “What drew me to DEGEN is that it doesn’t try to fit into the safe middle ground. That makes the commercial conversation stronger, not harder. Operators want content that cuts through, and my job is to make sure we’re building the right strategic relationships to support that ambition.”

Danny Gordon, Head of Studio at DEGEN Studios, said: “As we continue to scale, it’s important that our commercial strategy matches the ambition of our roadmap. We have strong momentum behind the product, and now it’s about accelerating that growth in the right markets with the right partners. Adam brings the experience and commercial focus needed to expand our reach while staying true to what makes DEGEN distinct.”

The post DEGEN Studios adds commercial firepower with Adam Miles appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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