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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.
The first tournament of the N1 Traffic Cups series, N1 SEO Traffic Cup, has ended.
Over the course of two months, more than 300 teams drove SEO traffic to N1 Partners casino and betting brands, competing for prizes and demonstrating the efficiency of their strategies.
Learn which teams made it to the top and their levels, key facts and figures, as well as comments from the winners about their experiences, strategies, and results achieved.
N1 SEO Traffic Cup in figures: prizes and participants
It is important to note that the teams’ results were evaluated not only in terms of traffic volumes but also in terms of scaling and diversifying traffic between several brands.
Tournament in figures:
- 14 teams reached the prize levels;
- 54 teams with Participant status that are not included in the prize levels will participate in an additional prize draw;
- 300+ teams drove SEO traffic during the tournament.
Among the prizes at various levels are attending top global sporting events – from F1 in Monaco to the 2026 FIFA World Cup matches in the USA; flying in zero gravity; an all-inclusive dream vacation in the Maldives; BMW and Ducati bikes; Apple gadgets; Cartier jewellery; Rolex watches and much more.
Alexa Bond, Head of Affiliates at N1 Partners, also notes the importance of the event for the company and partners: “N1 Traffic Cups is a reflection of how we see the promo: with transparent mechanics, an emphasis on real results and the opportunity for partners to scale and earn more. This is not just a promo; it is a motivation system for our partners.
The N1 SEO Traffic Cup has once again proved the value of a strong partnership: the high engagement, expertise, and strong results of the participants show that such events are equally effective for both partners and N1 Partners, building long-term interest, trust, and mutual engagement.”
Winners’ shortlist
Two months of competition, scaling, and testing to ensure that only the strongest remain in the finals. Below are the teams that have reached the prize levels and are among the winners of the N1 SEO Traffic Cup.
Depending on the number of points scored, participants reached one of four prize levels with rewards worth: €25,000, €15,000, €7,000, and €5,000 per team, based on their final tournament ranking.
Winners about N1 SEO Traffic Cup
How the tournament unfolded, what motivated the winners to keep climbing higher through the ranks, and the emotions they experienced along the way — told firsthand by the participants of the N1 SEO Traffic Cup.
Alfaleads Network
“Our result became possible due to a combination of factors: firstly, we specialise in SEO traffic and have many strong and stable SEO partners, both large and small. In addition, we would like to note that the N1 products have good CRs, so we got a real win-win here.
For our team, the coolest prize at Level 3 is the Kronos massage chair. In our field, sometimes you just want to switch off and exhale, so this is the most relevant thing. Moreover, such a chair will definitely never be empty in the office,” emphasises the Alfaleads Network team, Level 3 winners.
Advertise
«Strong products, competitive conditions, and a team that’s always ready to help and quickly resolve any issues are what truly motivate performance in N1 Partners promos.
We took part in the N1 Puzzle Promo last year and were excited to join the N1 SEO Traffic Cup this time. Back then, the main prize was a helicopter, along with additional rewards available throughout the tournament. This year’s level-based format with different prize categories is a smart move — it allows you to choose rewards based on your preferences.
At our Level 4, the most appealing prize is Apple glasses. However, for us, the most practical option is the cash reward, which we’ll use to reward the entire team that contributed to the final result,” said a representative of Advertise, a Level 4 prize winner.
RevenueLab
“In many ways, our result is about a combination of product understanding and constant work with traffic. When you know the strengths of the offers, it is much easier to find the right traffic for them and build working links.
We tried to analyse traffic from the web more deeply, look at user behaviour, see the quality of sources and how stable the result is over time. Everything that showed potential was quickly scaled up, but weak bundles were not kept — they were either refined or disabled.
Of course, interaction with N1 managers played a big role: there was always quick feedback, openness to hypotheses discussion and help with optimisation, which greatly accelerated the work.
As a result, it was this combination of product expertise, analytics, and live communication that produced this result.
In our segment, the MacBook looks the coolest, but each prize offered is unique. Separately, we would like to note that N1 always has the best gifts and rewards!” the RevenueLab team, the winner of Level 4, comments.
For teams with Participant status who did not enter the prize levels of the tournament, scoring from 20 to 499 points, an additional prize draw was held — PlayStation 5 Pro, iPhone 17 Pro Max and exclusive N1 Partners merch.
The results can be found in the N1 Partners Instagram on May 8th!
The second tournament from the N1 Traffic Cups series is coming soon — don’t miss the updates from N1 Partners!
Work with N1 Partners:
- 14+ casino and betting brands with high Reg2Dep
- 10+ Tier-1 GEOs
- CPA up to €700 and RevShare up to 55% + NNCO for top affiliates
Be number one with N1!
The post N1 SEO Traffic Cup First Chapter is Over — Winners and Results appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
The first tournament of the N1 Traffic Cups series, N1 SEO Traffic Cup, has ended.
Over the course of two months, more than 300 teams drove SEO traffic to N1 Partners casino and betting brands, competing for prizes and demonstrating the efficiency of their strategies.
Learn which teams made it to the top and their levels, key facts and figures, as well as comments from the winners about their experiences, strategies, and results achieved.
N1 SEO Traffic Cup in figures: prizes and participants
It is important to note that the teams’ results were evaluated not only in terms of traffic volumes but also in terms of scaling and diversifying traffic between several brands.
Tournament in figures:
- 14 teams reached the prize levels;
- 54 teams with Participant status that are not included in the prize levels will participate in an additional prize draw;
- 300+ teams drove SEO traffic during the tournament.
Among the prizes at various levels are attending top global sporting events – from F1 in Monaco to the 2026 FIFA World Cup matches in the USA; flying in zero gravity; an all-inclusive dream vacation in the Maldives; BMW and Ducati bikes; Apple gadgets; Cartier jewellery; Rolex watches and much more.
Alexa Bond, Head of Affiliates at N1 Partners, also notes the importance of the event for the company and partners: “N1 Traffic Cups is a reflection of how we see the promo: with transparent mechanics, an emphasis on real results and the opportunity for partners to scale and earn more. This is not just a promo; it is a motivation system for our partners.
The N1 SEO Traffic Cup has once again proved the value of a strong partnership: the high engagement, expertise, and strong results of the participants show that such events are equally effective for both partners and N1 Partners, building long-term interest, trust, and mutual engagement.”
Winners’ shortlist
Two months of competition, scaling, and testing to ensure that only the strongest remain in the finals. Below are the teams that have reached the prize levels and are among the winners of the N1 SEO Traffic Cup.
Depending on the number of points scored, participants reached one of four prize levels with rewards worth: €25,000, €15,000, €7,000, and €5,000 per team, based on their final tournament ranking.
Winners about N1 SEO Traffic Cup
How the tournament unfolded, what motivated the winners to keep climbing higher through the ranks, and the emotions they experienced along the way — told firsthand by the participants of the N1 SEO Traffic Cup.
Alfaleads Network
“Our result became possible due to a combination of factors: firstly, we specialise in SEO traffic and have many strong and stable SEO partners, both large and small. In addition, we would like to note that the N1 products have good CRs, so we got a real win-win here.
For our team, the coolest prize at Level 3 is the Kronos massage chair. In our field, sometimes you just want to switch off and exhale, so this is the most relevant thing. Moreover, such a chair will definitely never be empty in the office,” emphasises the Alfaleads Network team, Level 3 winners.
Advertise
«Strong products, competitive conditions, and a team that’s always ready to help and quickly resolve any issues are what truly motivate performance in N1 Partners promos.
We took part in the N1 Puzzle Promo last year and were excited to join the N1 SEO Traffic Cup this time. Back then, the main prize was a helicopter, along with additional rewards available throughout the tournament. This year’s level-based format with different prize categories is a smart move — it allows you to choose rewards based on your preferences.
At our Level 4, the most appealing prize is Apple glasses. However, for us, the most practical option is the cash reward, which we’ll use to reward the entire team that contributed to the final result,” said a representative of Advertise, a Level 4 prize winner.
RevenueLab
“In many ways, our result is about a combination of product understanding and constant work with traffic. When you know the strengths of the offers, it is much easier to find the right traffic for them and build working links.
We tried to analyse traffic from the web more deeply, look at user behaviour, see the quality of sources and how stable the result is over time. Everything that showed potential was quickly scaled up, but weak bundles were not kept — they were either refined or disabled.
Of course, interaction with N1 managers played a big role: there was always quick feedback, openness to hypotheses discussion and help with optimisation, which greatly accelerated the work.
As a result, it was this combination of product expertise, analytics, and live communication that produced this result.
In our segment, the MacBook looks the coolest, but each prize offered is unique. Separately, we would like to note that N1 always has the best gifts and rewards!” the RevenueLab team, the winner of Level 4, comments.
For teams with Participant status who did not enter the prize levels of the tournament, scoring from 20 to 499 points, an additional prize draw was held — PlayStation 5 Pro, iPhone 17 Pro Max and exclusive N1 Partners merch.
The results can be found in the N1 Partners Instagram on May 8th!
The second tournament from the N1 Traffic Cups series is coming soon — don’t miss the updates from N1 Partners!
Work with N1 Partners:
- 14+ casino and betting brands with high Reg2Dep
- 10+ Tier-1 GEOs
- CPA up to €700 and RevShare up to 55% + NNCO for top affiliates
Be number one with N1!
The post N1 SEO Traffic Cup First Chapter is Over — Winners and Results appeared first on Americas iGaming & Sports Betting News.
The first tournament of the N1 Traffic Cups series, N1 SEO Traffic Cup, has ended.
Over the course of two months, more than 300 teams drove SEO traffic to N1 Partners casino and betting brands, competing for prizes and demonstrating the efficiency of their strategies.
Learn which teams made it to the top and their levels, key facts and figures, as well as comments from the winners about their experiences, strategies, and results achieved.
N1 SEO Traffic Cup in figures: prizes and participants
It is important to note that the teams’ results were evaluated not only in terms of traffic volumes but also in terms of scaling and diversifying traffic between several brands.
Tournament in figures:
- 14 teams reached the prize levels;
- 54 teams with Participant status that are not included in the prize levels will participate in an additional prize draw;
- 300+ teams drove SEO traffic during the tournament.
Among the prizes at various levels are attending top global sporting events – from F1 in Monaco to the 2026 FIFA World Cup matches in the USA; flying in zero gravity; an all-inclusive dream vacation in the Maldives; BMW and Ducati bikes; Apple gadgets; Cartier jewellery; Rolex watches and much more.
Alexa Bond, Head of Affiliates at N1 Partners, also notes the importance of the event for the company and partners: “N1 Traffic Cups is a reflection of how we see the promo: with transparent mechanics, an emphasis on real results and the opportunity for partners to scale and earn more. This is not just a promo; it is a motivation system for our partners.
The N1 SEO Traffic Cup has once again proved the value of a strong partnership: the high engagement, expertise, and strong results of the participants show that such events are equally effective for both partners and N1 Partners, building long-term interest, trust, and mutual engagement.”
Winners’ shortlist
Two months of competition, scaling, and testing to ensure that only the strongest remain in the finals. Below are the teams that have reached the prize levels and are among the winners of the N1 SEO Traffic Cup.
Depending on the number of points scored, participants reached one of four prize levels with rewards worth: €25,000, €15,000, €7,000, and €5,000 per team, based on their final tournament ranking.
Winners about N1 SEO Traffic Cup
How the tournament unfolded, what motivated the winners to keep climbing higher through the ranks, and the emotions they experienced along the way — told firsthand by the participants of the N1 SEO Traffic Cup.
Alfaleads Network
“Our result became possible due to a combination of factors: firstly, we specialise in SEO traffic and have many strong and stable SEO partners, both large and small. In addition, we would like to note that the N1 products have good CRs, so we got a real win-win here.
For our team, the coolest prize at Level 3 is the Kronos massage chair. In our field, sometimes you just want to switch off and exhale, so this is the most relevant thing. Moreover, such a chair will definitely never be empty in the office,” emphasises the Alfaleads Network team, Level 3 winners.
Advertise
«Strong products, competitive conditions, and a team that’s always ready to help and quickly resolve any issues are what truly motivate performance in N1 Partners promos.
We took part in the N1 Puzzle Promo last year and were excited to join the N1 SEO Traffic Cup this time. Back then, the main prize was a helicopter, along with additional rewards available throughout the tournament. This year’s level-based format with different prize categories is a smart move — it allows you to choose rewards based on your preferences.
At our Level 4, the most appealing prize is Apple glasses. However, for us, the most practical option is the cash reward, which we’ll use to reward the entire team that contributed to the final result,” said a representative of Advertise, a Level 4 prize winner.
RevenueLab
“In many ways, our result is about a combination of product understanding and constant work with traffic. When you know the strengths of the offers, it is much easier to find the right traffic for them and build working links.
We tried to analyse traffic from the web more deeply, look at user behaviour, see the quality of sources and how stable the result is over time. Everything that showed potential was quickly scaled up, but weak bundles were not kept — they were either refined or disabled.
Of course, interaction with N1 managers played a big role: there was always quick feedback, openness to hypotheses discussion and help with optimisation, which greatly accelerated the work.
As a result, it was this combination of product expertise, analytics, and live communication that produced this result.
In our segment, the MacBook looks the coolest, but each prize offered is unique. Separately, we would like to note that N1 always has the best gifts and rewards!” the RevenueLab team, the winner of Level 4, comments.
For teams with Participant status who did not enter the prize levels of the tournament, scoring from 20 to 499 points, an additional prize draw was held — PlayStation 5 Pro, iPhone 17 Pro Max and exclusive N1 Partners merch.
The results can be found in the N1 Partners Instagram on May 8th!
The second tournament from the N1 Traffic Cups series is coming soon — don’t miss the updates from N1 Partners!
Work with N1 Partners:
- 14+ casino and betting brands with high Reg2Dep
- 10+ Tier-1 GEOs
- CPA up to €700 and RevShare up to 55% + NNCO for top affiliates
Be number one with N1!
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