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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.
cfo
Scientific Games CFO Nick Negro to depart May 15; Ray Anderson named interim
Anderson has served as interim CFO since May 4 as Scientific Games begins a search for a permanent finance chief.
Scientific Games said May 12 that Chief Financial Officer Nick Negro will leave the company on May 15, ending a three-year tenure. The company said Negro is departing for an opportunity based in Chicago to be closer to family.
Scientific Games has appointed Ray Anderson as interim Chief Financial Officer, effective May 4, while it searches for a permanent CFO.
“Nick has been a strong member of our leadership team and an advocate for the potential of Scientific Games,” said Pat McHugh, Chief Executive Officer for Scientific Games. “During his time with the company, he significantly strengthened our financial and procurement organizations and helped position Scientific Games for continued growth. We thank Nick for his contributions and wish him all the best.”
Anderson is a CPA with more than 30 years of global experience, including senior roles at KPMG across the U.S., Europe and Asia. Most recently, he served as a Global Lead Partner advising Fortune 500 companies on audit, capital markets and regulatory strategy, and previously led KPMG’s Pacific Southwest audit practice for six years.
“Ray is a highly respected finance leader with extensive global experience advising large, complex organizations,” said McHugh. “We are confident in his ability to support the business and our Finance organization during this transition.”
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Latest News
Scientific Games Announces CFO Transition
Scientific Games announced today that Chief Financial Officer Nick Negro will be leaving the company on May 15 after three years of success in the role leading the company through three years of growth.
Negro is departing for an opportunity based in Chicago that allows him to be closer to family.
To ensure continuity during the transition, Scientific Games has appointed Ray Anderson as interim Chief Financial Officer, effective May 4, as the company begins the search for a permanent CFO.
“Nick has been a strong member of our leadership team and an advocate for the potential of Scientific Games,” said Pat McHugh, Chief Executive Officer for Scientific Games. “During his time with the company, he significantly strengthened our financial and procurement organizations and helped position Scientific Games for continued growth. We thank Nick for his contributions and wish him all the best.”
Anderson is a seasoned finance leader and CPA with more than 30 years of global experience, including senior leadership roles at KPMG across the U.S., Europe and Asia. Most recently, he served as a Global Lead Partner, advising Fortune 500 companies on audit, capital markets and regulatory strategy, and working closely with boards and executive teams. Immediately prior to this role, he led KPMG’s Pacific Southwest audit practice for six years.
“Ray is a highly respected finance leader with extensive global experience advising large, complex organizations,” said McHugh. “We are confident in his ability to support the business and our Finance organization during this transition.”
Serving 150 lotteries in 50 countries, Scientific Games is the world’s largest lottery games company, fastest growing lottery systems provider and a leading provider of digital lottery solutions.
© 2026 Scientific Games, LLC. All Rights Reserved.
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instant games
Scientific Games completes systems conversion for New Mexico Lottery
Modernization adds Momentum ecosystem tools and rolls out new terminals and self-service machines to 1,000+ retailers statewide.
Scientific Games has completed a technology systems conversion for the New Mexico Lottery, modernizing lottery operations with a new gaming system and rolling out retail technology to more than 1,000 locations across the state. The update went live May 11, 2026, according to the company.
Scientific Games said the new system now powers the Lottery’s draw-based and Scratchers’ sales and is designed to simplify product management for retailers. The conversion also includes the launch of the Scientific Games Enhanced Partnership (SGEP) instant game management program, which the company said combines analytics, logistics, retail optimization and product strategy.
“The New Mexico Lottery is officially live with new, modern technology systems that work together to enhance all aspects of our operations and ensure we are well-positioned for our next era of growth,” said David Barden, CEO of the New Mexico Lottery. “We’ve strategically planned every step of this holistic modernization effort with Scientific Games to intelligently operate our retail network, making our Scratchers games easier for retailers to manage in their stores and easily accessible to our valued players.”
Scientific Games said the conversion was developed over the past year and is built on its Momentum ecosystem. Components cited include an advanced central gaming system, the SciTrak instant game distribution system, the gem | intelligence retailer licensing and management portal and the INFUSE business intelligence platform. The company said WAVE clerk-operated terminals and PlayCentral self-service machines will be deployed to retailers in planned phases.
“Congratulations to the New Mexico Lottery for building upon our long-standing instant scratch game partnership, embracing innovation for the future,” said John Schulz, President of Americas & Global Instant Products for Scientific Games. “We are proud to serve as the Lottery’s full-line partner and help drive maximum proceeds for New Mexico college students.”
The post Scientific Games completes systems conversion for New Mexico Lottery appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
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