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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.
Casino Content
Habanero launches Nuwa Deluxe slot with variable paylines and two-tier free spins
Habanero has launched Nuwa Deluxe, a 5×3 slot themed around Chinese mythology. The game introduces a variable payline system and a progression-style Free Games feature that can unlock a second-tier bonus, according to the supplier.
In the base game, paylines can upgrade at random on any spin, moving from 28 to 38, 58 or 88 active lines. The title also includes expanding Wilds that cover the entire first and third reels.
During Free Games, players collect five element symbols. Completing the set during the round unlocks Super Free Games, where full-reel Wilds are guaranteed on two reels on every spin.
Habanero said Nuwa Deluxe supports its Jackpot Race
and Buy Feature. The launch follows recent releases Steampunk Plinko and Raiden Shogun.
Toni Karapetrov, Head of Corporate Communications at Habanero, commented: “Nuwa Deluxe is an exciting new release that boasts a variable payline system to keep engagement high at the base game, while the element collection mechanic in free spins gives players something to work towards beyond simply triggering the bonus.
“The Super Free Games tier is where the action really kicks in with guaranteed full-reel Wilds on every spin. It is another strong addition to our portfolio and one we expect to have a genuine impact with players.”
The post Habanero launches Nuwa Deluxe slot with variable paylines and two-tier free spins appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
BetVictor
BetVictor Launches 100/1 England World Cup Offer
BVGroup’s flagship brand, BetVictor, has launched a new World Cup promotion offering new customers an enhanced 100/1 odds on England to win this summer’s tournament, as excitement continues to build ahead of football’s biggest stage.
The enhanced price forms part of BetVictor’s wider World Cup campaign, with the brand set to roll out a range of offers, odds boosts and engagement activations throughout the tournament.
With England widely viewed as one of the strongest teams heading into the competition, BetVictor’s latest campaign is designed to tap into growing excitement around the Three Lions and the return of international football’s biggest stage.
The campaign is being supported by a bespoke TV advert, alongside radio and OOH activity, as BetVictor continues to expand its football-focused marketing around major sporting events.
BetVictor spokesman Sam Boswell said: “We know everyone’s favourite thing when having a flutter is getting a bit of value, which is exactly why we’re offering new customers 100/1 on England to finally bring football home this summer. It’s a huge price for what we hope could be a massive moment for the Three Lions and their fans. All our existing players will also get to join in the fun with exciting Super Boosts and Odds Boost tokens throughout the tournament which promises to be bigger and better than any World Cup we have seen before.”
The enhanced 100/1 offer is available for a limited period via the BetVictor app and website.
The post BetVictor Launches 100/1 England World Cup Offer appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
executive-moves
Yaspa hires Justin Fears as US Director, Enterprise Sales
Yaspa has appointed US fintech and gaming executive Justin Fears as US Director, Enterprise Sales, as the company pushes further into North America. The company said Fears will be based in its Atlanta office and will lead strategic commercial growth across the region.
Yaspa said Fears will focus on working with gaming operators to modernise payment experiences using real-time bank payments and transaction intelligence, and will work with its US and global commercial leadership teams to scale partnerships and adoption.
Fears brings more than 18 years of experience across payments, fintech, SaaS, and AML compliance in the gaming sector, according to Yaspa. His previous roles include senior positions at Kinectify, First Data Corporation, Glory Global Solutions, DiTronics Financial Services, NEXGEN Technology, and CASINOMONEY. Yaspa also noted he is a United States Air Force veteran.
James Neville, CEO of Yaspa, said: “We’re delighted to welcome Justin to the team as we accelerate our footprint in the US market. His deep operational understanding of gaming-focused financial infrastructure, compliance technologies, and enterprise sales leadership makes him an incredible asset. Justin’s appointment further strengthens our local team and underscores our commitment to helping North American operators lower costs, reduce fraud, and elevate the player experience through open banking.”
Fears said: “I’m excited to join Yaspa at such an important stage in the company’s growth journey. The combination of open banking, innovative payment solutions, and intelligent transaction data represents a significant opportunity within the US iGaming market, particularly as operators continue to prioritise player experience, fraud reduction, and payment efficiency. Yaspa has built an innovative platform uniquely positioned to support the evolving needs of regulated operators, and I look forward to helping expand the company’s presence and strategic partnerships across the US.”
Yaspa said it was named winner of the Real-Time Payments Innovation award at the 2025 Payments Awards and was included in the CB Insights Top 100 Fintechs list in the past 12 months. The company also referenced a $12m investment round in July led by Discerning Capital, and said it has opened a new Atlanta office and a tech hub in Leeds, UK, in August 2025.
The post Yaspa hires Justin Fears as US Director, Enterprise Sales appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
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