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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.

Ady Totah

LuckyStreak Announces Strategic Partnership with Aviator Studio

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LuckyStreak has announced a major addition to its iGaming content aggregation offering, with a new strategic partnership with crash game provider Aviator Studio.

And for a limited time, LuckyStreak has a special promotional offer for operators that add Aviator Studio’s game to their lobbies for the first time.

Aviator appeals to casual fun-seekers and high-risk thrill-seekers alike. With a new round every 40 seconds, auto-bet and auto-cashout features, it’s very simple and highly exciting to play.

The game creator and license-owner, Aviator Studio, is a provider focused on delivering engaging, innovative gaming experiences. Their journey began with Aviator, the crash game, developed and operated under a fully licensed trademark to ensure players enjoy a genuine and protected experience. Built around a vibrant, community-driven model, Aviator sets the standard for high-adrenaline gameplay.

Customers of LuckyConnect, the name for LuckyStreak’s content aggregation API solution, can now access the Aviator crash game and add it to their casino website without any additional tech work. And as new games are regularly added, all content is auto-synced with customer games management systems.

The partnership underpins LuckyConnect’s reputation as an established, professional and powerful iGaming content aggregator for online casino operators and platforms in regulated, pre-regulated and emerging markets. It has a portfolio of over 6000 games from leading providers, serving all iGaming genres, a proven and secure API integration, and an extensive network of casino operator customers hungry for world class entertaining content. Making it a highly compelling choice of content aggregation partner.

Ady Totah, CEO and Co-founder of LuckyStreak, said: “We’re thrilled to offer the exclusive Aviator crash title on our LuckyConnect content aggregation solution. It will significantly enhance the commercial opportunities for our casino operator partners. Our new partnership with Aviator Studio underscores our commitment to delivering engaging and high-performing content, and we’re genuinely excited about the growth and player appeal this collaboration will unlock for all our customers.”

Giorgi Pruidze, CEO of Aviator Studio, said: “Our network of partners is expanding rapidly, with new collaborations added every week. Integration with LuckyStreak, one of our key strategic partners, marks a significant step forward, extending our reach across key markets. And we’re just getting started. With a bold vision for the future, we’re actively developing new game titles designed to push the limits of gaming and deliver next-generation experiences to players around the world.”

The post LuckyStreak Announces Strategic Partnership with Aviator Studio appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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Compliance Updates

EvenBet Gaming obtains Danish B2B supplier licence

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EvenBet Gaming, a leading developer of online poker and casino software, has secured a five-year B2B supplier licence from the Danish Gambling Authority (Spillemyndigheden), further strengthening its position across Europe’s most established jurisdictions.

The strategic move into the Danish market aligns with EvenBet’s mission to provide its global client base with seamless access to high-potential regulated jurisdictions. By securing this licence, the company enhances its ability to support both new and existing operators in diversifying their market reach through scalable, fully compliant gaming solutions.

The licence covers a comprehensive portfolio of products, including EvenBet’s industry-leading poker software, turnkey online casino platform, and extensive content catalogue comprising roulette, baccarat, blackjack, punto banco, bingo and slots.

The approval follows a rigorous assessment process covering RNG certification, platform security, and business procedures, reinforcing EvenBet’s ongoing commitment to compliance, integrity and player protection.

With the Danish iGaming market generating approximately DKK 11 billion (€1.47 billion) in gross gaming revenue during 2024, the licence represents a significant commercial opportunity for operators seeking long-term growth within a stable and highly profitable market.

By partnering with EvenBet, operators benefit from a streamlined route to regulated markets and gain access to the company’s world-class poker infrastructure and comprehensive casino suite. This enables them to diversify their offerings and engage high-value player segments within a secure and fully compliant framework.

Dmitry Starostenkov, CEO at EvenBet Gaming, said: “Securing our Danish B2B licence is another important milestone in EvenBet’s long-term strategy. Denmark has established itself as one of the most mature and well-regulated gaming markets in Europe, making it an extremely attractive jurisdiction for both suppliers and operators.

“This approval not only reflects the strength and reliability of our technology, but also allows us to support our existing and future partners with fully compliant access to a highly valuable market.”

The post EvenBet Gaming obtains Danish B2B supplier licence appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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Alex Pratt

Edge Marketing Institute launches G.A.M.E marketing leadership programme for B2B gaming

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Online, on-demand course targets CMOs and senior marketers, with WorldGaming signed as exclusive media partner.

Edge Marketing Institute has launched in the gaming sector with its flagship programme, G.A.M.E (Gaming Advancement in Marketing Excellence), positioned by the company as a dedicated marketing leadership course for B2B gaming.

The company said the programme is designed to help senior marketers develop commercial leadership skills as businesses push marketing teams to contribute more directly to revenue and growth.

Founded by Paul Rees and Gerhard Sagat, Edge Marketing Institute said G.A.M.E consists of 10 senior-level modules covering strategic marketing leadership, positioning, product marketing, sales alignment, go-to-market execution, marketing measurement, brand strategy, and organisational influence.

Paul Rees, Co-Founder of Edge Marketing Institute, said: “Gaming has talented marketers throughout the industry, but too many have been forced to learn senior leadership on the job without structured development or exposure to broader marketing best practice.

“This isn’t a talent problem; it’s a structural one.

“We created Edge Marketing Institute and G.A.M.E to help marketing leaders operate with greater commercial clarity, confidence and influence, so marketing becomes a genuine driver of growth rather than simply a delivery function.”

The programme has launched with the support of WorldGaming as its exclusive media partner. Alex Pratt, Managing Director at WorldGaming, said: “As gaming continues to evolve, the role of marketing is becoming increasingly commercial and strategically important.

“Helping marketing leaders better align marketing with business growth, commercial objectives and long-term industry development is positive for the wider gaming ecosystem, which is why we’re pleased to support the launch of Edge Marketing Institute and G.A.M.E.”

The post Edge Marketing Institute launches G.A.M.E marketing leadership programme for B2B gaming appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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