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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.

Amusnet

Amusnet’s Virtual European Roulette Brings Timeless Elegance into the Modern Live Casino Era

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Experience the elegance of roulette in a sleek modern format with Virtual European Roulette, Amusnet’s refined take on one of the most iconic casino games ever created. Combining the timeless appeal of the traditional roulette wheel with contemporary design and intuitive controls, this release delivers a smooth, immersive single-player experience.

Inspired by the atmosphere of a premium casino floor, the game features a sophisticated visual style, polished animations and a clean interface that feels both luxurious and easy to navigate. Every detail is designed to recreate the excitement of live roulette while offering the convenience and flexibility of a modern virtual format.

Unlike traditional live tables, Virtual European Roulette gives players full control over the pace of the action. The ability to choose exactly when to spin the wheel creates a more personalised experience, while the Fast Spin option keeps gameplay quick, fluid and engaging for those who prefer a faster rhythm.

The game also offers a wide variety of betting options, allowing players to tailor every round to their own preferred strategy and style. Helpful features such as Auto Rebet, Favourite and Special Bets, Game History and detailed Game Statistics enhance the overall experience, making gameplay both convenient and highly interactive.

With its balance of classic roulette charm and modern innovation, Virtual European Roulette delivers an elegant and dynamic casino experience where sophistication, flexibility and excitement come together with every spin of the wheel.

Fast Spin Button

The Fast Spin button not only guarantees a more dynamic gaming experience as it also accelerates the gameplay by reducing or skipping waiting times between stages.

Auto Rebet

The Auto Rebet function allows players to repeat a selected bet. When enabled, the game enters automatic mode, where bets are placed automatically for a set number of games.

Favourite Bets

This function allows players to save up to 10 personally tailored bets or bet combinations for quick access during gameplay.

Jackpot Cards

The Jackpot Cards Bonus game is triggered at random during the gameplay to allow players to win impressive Jackpots.

The post Amusnet’s Virtual European Roulette Brings Timeless Elegance into the Modern Live Casino Era appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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BGaming

BGaming Raises €200,000 for DAR Bjorn with its Second Annual Charity Gala

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Industry leaders and the local community united in Malta for an evening of meaningful impact

Popular iGaming content provider BGaming is proud to announce the success of its second Charity Gala, held at The Phoenicia Malta on May 29 in support of DAR Bjorn. Bringing together more than 400 guests from across the iGaming industry, the local business community, and Maltese society, the event raised over €200,000 for the neurological home and the people it supports.

Ian Borg, Malta’s Deputy Prime Minister and Minister for Foreign Affairs and Tourism, was also in attendance, underscoring the importance of the Charity Gala’s mission to support DAR Bjorn and its contribution to the Maltese community.

DAR Bjorn is Malta’s neurological home, providing care and support for people living with ALS, MS, and other severe neurological conditions. Founded by former iGaming professional Bjorn Formosa following his ALS diagnosis at the age of 28, the organisation now cares for 60 residents while supporting more than 800 people throughout the country.

The funds raised by this year’s event will go directly towards equipping DAR Bjorn’s new Respite Centre with essential medical care and equipment. As part of its ongoing commitment to DAR Bjorn, BGaming is dedicating all money raised to the cause, with the studio covering the event’s operating costs.

One of the meaningful parts of this year’s initiative was a special merchandise collection co-created by Portuguese street artist Gonçalo MAR and residents of DAR Bjorn. Inspired by their stories and creative contributions, the collection gave them the opportunity to become active participants in the project. The merchandise was first unveiled at NEXT Summit Valletta and later made available online in exchange for donations. The initiative raised €5,000 for DAR Bjorn, extending the Gala’s impact beyond a single evening.

BGaming would like to extend its sincerest thanks to all partners whose generosity and support made this year’s Charity Gala possible, including NEXT.io, which was an official media partner for the event.

MyAffiliates were the event’s Golden Partner, while 1spin4win, Finteq Hub, Amusnet Gaming, and TaDa Gaming were Bronze Partners. Supporting Partners included Flutter International, Alea, SiGMA, Focus Gaming News, The Phoenicia Malta, Booming Games, Internet Vikings, Behind the Gloves, EGT Digital and SWAG42.

Marina Ostrovtsova, CEO at BGaming, said, “When we organized the first Charity Gala last year, we simply wanted to help DAR Bjorn and do something meaningful together as an industry. We never imagined it would grow into such a powerful annual initiative.

What inspires me most is not only the amount raised, but the people behind it. Seeing companies that normally compete come together for one shared purpose says a lot about our industry and the kind of community BGaming has built around it.

The impact of this evening goes far beyond fundraising. It helps improve the lives of people at DAR Bjorn, but it also reminds all of us that we have the ability to create meaningful change when we work together.”

Maria Formosa, the executive secretary of ALS Malta and the wife of ALS activist Bjorn Formosa, said, “Charity Gala by BGaming showed the extraordinary impact that can be achieved when the gaming industry unites behind a meaningful cause. The generosity shown throughout the evening will directly help us equip new rooms in our respite home and improve the lives of people living with neurological conditions. It was truly another memorable night in a magical venue filled up with beautiful souls who believed in our mission.

We are profoundly grateful to BGaming, to Madame Lubov for her hard and meticulous work she did once again for the success of the event, to the support received from Next.io and every supporter who helped turn compassion into action.”

The post BGaming Raises €200,000 for DAR Bjorn with its Second Annual Charity Gala appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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RubyPlay signs World Sports Betting deal to expand in South Africa

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Operator adds RubyPlay slots including Elephant Stampede, Diamond Explosion® 7s and Mayan Cache to its online platform.

RubyPlay has partnered with South African operator World Sports Betting to roll out a selection of the supplier’s slot titles on the bookmaker’s online platform.

Under the agreement, World Sports Betting has integrated RubyPlay Studios games including Elephant Stampede, Diamond Explosion® 7s and Mayan Cache.

RubyPlay said South Africa remains a key market in its international growth strategy. The supplier entered the country in 2023 and said the World Sports Betting deal builds on a series of local partnerships.

Dima Reiderman, CCO at RubyPlay, said: “South Africa has been a real focus for us since we entered the market three years ago, and the traction we have seen in that time makes this partnership with World Sports Betting a genuinely engaging one. They are an established, highly respected brand and adding our portfolio to their platform is a strong example of how we are continuing to establish ourselves as a tier-one supplier across regulated markets.

“World Sports Betting has a deep understanding of their players and a clear vision for how they want to grow their offering. That kind of operator mindset is what we look for in a long-term partnership, and it gives us a strong foundation to build on together in what remains one of the most intriguing markets worldwide.”

Ryno Du Plessis, Chief Operating Officer at World Sports Betting, added: “Our focus is on delivering a high-quality iGaming experience, with a high breadth of standout content playing a key role. RubyPlay stands out as a quality content supplier, not only for the strength of its portfolio, but for its clear approach to game development and delivery.

“Their ecosystem model supports long-term player engagement, which aligns with our strategy as we grow our offering. Bringing in-demand titles such as Elephant Stampede, Diamond Explosion® 7s and Mayan Cache to our players is an exciting move, and we see strong potential in the partnership moving forward.”

The post RubyPlay signs World Sports Betting deal to expand in South Africa appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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