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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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Habanero launches Raiden Shogun slot with 259 ways and stacked multipliers

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Habanero has launched Raiden Shogun, a Japanese-themed 5×5 slot built around a samurai-triggered Wild mechanic and a stacked multiplier system.

The game runs on 259 Connected Ways across a 5×5 grid. Habanero said the samurai can trigger at random, cutting through bamboo on reels 1, 3 and 5 to reveal stacked Wilds.

A free spins feature is triggered by scatters, with three, four or five scatters awarding 8, 18 or 38 free spins respectively. During free spins, the bamboo reveals multipliers that continue to stack “without resetting,” according to the supplier.

Raiden Shogun also supports Habanero’s Jackpot Race™ and Buy Feature. Toni Karapetrov, Head of Corporate Communications at Habanero, said: “Raiden Shogun is a game built around a clear mechanical identity. The samurai Wild reveal is visually impressive and immediately communicates what the game is about while the non-resetting multiplier system gives the free spins genuine weight.

“We continue to focus on creating games that balance distinctive design with top performance, and this is a title that we’re confident will connect well with both players and operators.”

The post Habanero launches Raiden Shogun slot with 259 ways and stacked multipliers appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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Blueprint’s Fishin’ Frenzy™ Lure ‘Em In: Tackle Boxes Set the Reels Ablaze

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Blueprint Gaming™ revisits its famed lakeside setting in Fishin’ Frenzy™ Lure ‘Em In, where unique tackle boxes lead to rewarding features in bonus rounds, alongside the opportunity to secure a maximum win of 10,000x.

With launches from the acclaimed franchise regularly topping the UK studio’s best performers, the newest installment is poised to enhance the impressive momentum, providing operators’ lobbies with an engaging, feature-packed enhancement.

At the center of the activity are three colored tackle boxes that gather corresponding blue, red, and green scatters when they appear during a spin. Guaranteed entry to the bonus game occurs if three bonus scatter symbols appear with at least one modifier in effect.

Activating the bonus game through the blue tackle box will enable the Cast and Catch modifier. In the round, the appearance of wilds will ensure a respin, with wilds and prize symbols staying in position while the other symbols are respun.

When the Golden Catch modifier is triggered through the red tackle box, unique golden wild symbols appear on the reels, collecting all visible cash prize symbols and enhancing the overall win with a multiplier of as much as 5x.

The Take the Bait upgrade, activated by the green tackle box, introduces unique cash prize symbols to the reels, depicted by a can of worms. When a can of worms icon appears, all visible cash prize amounts are gathered by any fisherman symbol.

In a significant increase to winning possibilities, as many as three Lure ‘Em In upgrades can operate simultaneously during the bonus round, with two active tackle boxes ensuring super free games, and three leading to the mega free game, where the opportunity to achieve the 10,000x maximum prize becomes available.

Immersive trails have become a staple in Blueprint bonus games, and the studio has continued this popular trend with its latest release. Every four fisherman symbols that are collected during the feature will award five additional free spins, with the standard cash prize value in place increased to a maximum of 50x.

For those with an eye on a particular catch to remember, the Express Bet can be triggered at any time during gameplay for 0.5x the base stake, doubling the chances of triggering the bonus game.

Following hot on the heels of Game of Thrones™, Fishin’ Frenzy™ Lure ‘Em In ™ reinforces Blueprint’s ability to cleverly craft fresh-themed, bountiful titles for players to enjoy worldwide.

Jo Purvis, Director of Marketing, PR and Events, said: “Fishin’ Frenzy™ remains one of our most iconic and best-performing franchises, and with Lure ‘Em In, we have introduced exciting new mechanics to elevate the experience even further. The addition of dynamic tackle box modifiers and the ability to combine multiple enhancements brings greater variety and anticipation to the bonus.

“We are confident this latest instalment will resonate strongly with operators and players, continuing the franchise’s legacy as a standout performer.”

The post Blueprint’s Fishin’ Frenzy™ Lure ‘Em In: Tackle Boxes Set the Reels Ablaze appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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3 Oaks Gaming releases Lucky Apple x1000 slot with multipliers up to x1000

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3 Oaks Gaming has released Lucky Apple x1000, a 6×5 scatter pays slot with cascading reels and multipliers up to x1000.

Wins trigger when eight matching symbols land anywhere on the reels. The game uses a Cascading Reels mechanic, removing winning symbols and dropping new ones in place. Red Apple Symbols can appear randomly or be “assisted by the character,” revealing multipliers from x2 to x1000. Any multipliers in view combine and are applied to the total win after the cascade.

The slot also includes a Free Spins feature where multipliers from winning spins contribute to a growing Total Multiplier during the feature, according to the company.

In certain markets, 3 Oaks Gaming said players can access a Bonus Shop with two Free Spins options, including an upgraded round where multipliers range from x10 to x1000.

Krasimir Pankovski, Sales Director at 3 Oaks Gaming, said: “Lucky Apple x1000 highlights our approach to combining strong themes with proven mechanics that resonate with players. By bringing together cascading reels, high-value multipliers and a cumulative Free Spins model, we’ve created a title designed for both engagement and longevity.

“The addition of the Bonus Shop adds further flexibility, supporting player choice while helping operators maximise performance as we continue to grow a competitive portfolio.”

The post 3 Oaks Gaming releases Lucky Apple x1000 slot with multipliers up to x1000 appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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