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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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Ygam To Receive Government Prevention Funding From Newly Introduced Statutory Levy

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The Department of Health and Social Care’s Office for Health Improvement and Disparities (OHID) has announced that Ygam is set to receive £3m from the VCSE Gambling Harms Prevention and Resilience Fund for the two-year span from 2026 to 2028.

It will be crucial for Ygam to implement its acclaimed programs aimed at education, early intervention, and harm prevention to protect children and young individuals from gambling-related harms throughout England.

The funding has been designated to exclusively assist Ygam’s operations in the South West, South East, Greater London, East Midlands, North West, and East of England, as well as for national activities where local or regional involvement is unnecessary. Significantly, Ygam’s initiatives will keep running throughout all areas of England.

In the last ten years, Ygam has developed extensive experience and knowledge by collaborating with schools, families, and communities, positioning itself as the foremost authoritative voice and setting standards in preventative education.

Through thorough, CPD accredited training and a vast collection of resources, Ygam equips trusted adults in influential or caregiving roles, including teachers, parents, and youth workers, with the knowledge, tools, and assurance to take significant steps to protect and support children and young individuals.

Since 2014, Ygam has educated more than 39,000 participants and impacted approximately 6.5 million children and young individuals throughout the UK.

Emily Tofield, Chief Executive of Ygam, said: “Our evidence-led programmes, which are grounded in a public health approach and informed by lived experience, have already reached and safeguarded millions of children and young people across the UK. This funding will enable us to continue to build on our deep and proven track record of delivering measurable impact in the gambling harms prevention field, supported by independent evaluation.

Education will always have a central role to play in effective prevention strategies, and this funding will contribute to ensuring the next generation is equipped with the knowledge, skills and understanding to be resilient to the potential risks and harms of gambling. We look forward to working alongside OHID, the Government and other stakeholders committed to our shared goals.”

This funding is part of the first tranche to be distributed under the new statutory levy introduced by the Government, which applies to all licensed gambling operators in Great Britain. The levy has raised £120 million in its first year, which will be allocated across research, prevention and treatment to address gambling-related harms.

The Office for Health Improvement and Disparities (OHID) has been appointed as the commissioning body for prevention, with 30% of the levy funding allocated to this strand.

The post Ygam To Receive Government Prevention Funding From Newly Introduced Statutory Levy appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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Plaza Hotel & Casino and The Mob Museum launch ‘Wiseguy Getaway’ package

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Downtown Las Vegas bundle includes a two-night minimum stay, Mob Museum tickets and Oscar’s Steakhouse perk; booking window runs through Dec. 26, 2026.

Plaza Hotel & Casino and The Mob Museum said May 18, 2026 they are partnering on a new downtown Las Vegas hotel offer called The Wiseguy Getaway.

The package includes a two-night minimum stay at the Plaza Hotel & Casino, two complimentary tickets to The Mob Museum, a complimentary appetizer at Oscar’s Steakhouse during happy hour, and an “exclusive autographed photo” of Oscar B. Goodman, described by the companies as a reputed mob attorney and former mayor of Las Vegas.

“From being in Casino to the mobsters Oscar Goodman once represented, the Plaza is uniquely tied to this captivating element of Vegas history, so creating the Wiseguy Getaway with The Mob Museum made perfect sense,” said Jonathan Jossel, CEO of the Plaza Hotel & Casino. “The drama and intrigue of the mob era continue to fascinate our guests, so we believe this new hotel package will be very popular.”

“Las Vegas has no shortage of incredible experiences, and the Wiseguy package adds something truly unique to the mix. This Downtown Las Vegas adventure combines world-class history, curated dining and an iconic hotel stay into something you genuinely can’t find anywhere else in the city,” said Ashley Miller, vice president of marketing, communications and sales, The Mob Museum.

Stays must be booked by Dec. 26, 2026, and occur by Dec. 28, 2026. Reservations are available via the Plaza’s website.

The post Plaza Hotel & Casino and The Mob Museum launch ‘Wiseguy Getaway’ package appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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SEON warns World Cup betting surge will expose retention and loyalty fraud

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Fraud expert George Pace says operators focused on welcome bonus abuse risk missing ongoing “back door” losses during peak volume.

SEON fraud expert George Pace is warning betting and gaming operators to brace for a World Cup-driven spike in account activity that could strain fraud teams and increase losses from promotion and loyalty abuse.

“The World Cup will be one of the biggest stress tests for fraud teams in betting and gaming. Promotion abuse and loyalty abuse already account for a significant share of fraud losses, and that’s before you factor in the World Cup surge. Logins, registrations and transactions will all spike at the same time, while operators compete aggressively with welcome bonuses and free bets.”

Pace said operators often prioritize stopping welcome bonus abuse, but argued the larger threat during high-volume events is repeat exploitation tied to retention mechanics. “Most attention goes to welcome bonus fraud, but that’s only a one-time hit. The bigger risk is retention abuse. It creates an ongoing revenue stream for fraudsters and often goes unnoticed for longer, especially during high-volume events.”

He added that fraudsters may not need advanced tactics if they can blend in while legitimate traffic rises. “When thousands of legitimate, high-value players become active at once, fraudsters don’t need to be particularly sophisticated. They just need to blend in with normal behavior, making detection harder at the exact moment teams are already stretched.”

Pace also pointed to what he described as a growing gap between fraud losses and topline performance for operators. “Recent data shows many operators aren’t prepared for this shift. Already, 57% report fraud losses growing faster than revenue, a gap that only widens during high-volume events like the World Cup. Operators that only protect the front door are going to get robbed through the back.”

The post SEON warns World Cup betting surge will expose retention and loyalty fraud appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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