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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.
affiliate marketing
BetConstruct AI confirms SiGMA Asia 2026 presence in Manila
Supplier plans to pitch a World Cup 2026 sportsbook bundle and its AI Suite at Stand 2572 on June 2–3.
BetConstruct AI will exhibit at SiGMA Asia 2026 in Manila, Philippines, on June 2–3, the company said, appearing at Stand 2572.
At the show, BetConstruct AI said it will highlight a “Best Sportsbook for the World Cup 2026” bundle built around “Special Bets, Powerfull, and Bet on League.” The company positioned the package as ready for operator activation without development work.
BetConstruct AI also said it will showcase its AI Suite, including “CRM AI, Umbrella AI, AI Game Recommendation System, and Betting Mate AI,” aimed at use cases such as churn prediction, risk consolidation, personalised casino experiences, and conversational sportsbook engagement.
As product context, the company cited its sportsbook and casino platforms, including “140,000+ pre-match events and 90,000+ live matches monthly” and “45,000+ games from 350+ providers via a single API.” It also highlighted its “Affigates Affiliate Ecosystem” with “7,000+ vetted affiliates and AI-based scoring.”
The company said new partners signing via the show can access commercial incentives, including “a 50% platform setup discount from day one,” “100% Core Suite Access free for the first 3 months (50% off for months 4–12), and third-party tools at 51% off for the first 3 months.”
The post BetConstruct AI confirms SiGMA Asia 2026 presence in Manila appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
celebrity-partnerships
Pascal Gaming signs Ronaldinho for football-themed crash and slot titles
First release is Avinho R10, followed by June launch Fortune Ronaldinho as the studio lines up more titles ahead of the World Cup season.
Pascal Gaming has partnered with Brazilian football player Ronaldinho to launch a dedicated portfolio of games inspired by the athlete, the company said on 26 May, 2026.
The planned pipeline includes crash games, slots and additional titles set to roll out through the year. Pascal Gaming said the initiative is aimed at both Brazil and international markets, and will be supported by tournaments, promotional activity and special events tied to the Ronaldinho-branded portfolio.
The first game confirmed is Avinho R10, described as a crash-style title featuring Ronaldinho “above Brazil” in an aviation-themed experience. A second game, Fortune Ronaldinho, is scheduled for release in June and is positioned as a slot-inspired title.
“Ronaldinho is one of the most recognisable and loved football personalities in the world, so for us this collaboration is much more than a game launch. It is a global entertainment project that combines football culture, emotionally engaging gameplay and strong promotional activities ahead of the World Cup,” said Armen Mnaskanian, Head of Sales at SoftConstruct Gaming Content.
Pascal Gaming said it has been expanding its crash game portfolio during 2026 and investing in localised, character-driven content across Latin America, Africa and Asia. The company added that more Ronaldinho-themed titles and marketing campaigns will be revealed in the coming months.
The post Pascal Gaming signs Ronaldinho for football-themed crash and slot titles appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
brand-marketing
Duelbits signs Justin Gaethje for branded content ahead of UFC Freedom 250
The JUSTIN2026 campaign was shot in Denver and rolls out over four weeks ahead of the 14 June event at the White House.
Duelbits has launched a branded content campaign with UFC interim Lightweight Champion Justin Gaethje, timed to UFC Freedom 250 at the White House on Saturday 14th June.
The campaign, branded JUSTIN2026, was shot on location in Denver, Colorado by UK-based creative agency YRDS. Duelbits said the content is designed as a “premium, cinematic series” and will roll out in phases over the next four weeks, peaking on event day.
According to the company, the campaign was planned before UFC Freedom was officially confirmed. Duelbits framed the early commitment as part of a strategy to move faster than traditional sportsbooks around major cultural moments.
“We didn’t want to create another sportsbook promo,” said Jasper Hoekert, Chief Marketing Officer at Duelbits. “We wanted to create something that combat sports fans want to watch, content built around Justin’s authenticity and intensity, not just his fight record. We were planning this before the White House event was even officially confirmed. When you believe in the magnitude of a moment, you don’t wait for permission to act on it.”
“Duelbits came to me with a vision, not just a brief,” said Gaethje. “They wanted to create something that reflected the reality of what I do and who I am, with no smoke and mirrors. When a brand shows up with that kind of conviction and creative ambition, you back it. This campaign is going to be something people remember.”
The post Duelbits signs Justin Gaethje for branded content ahead of UFC Freedom 250 appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
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