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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.

Francesco Cuzzupoli

REEVO Goes Live with Microgame, Expanding Its Reach in Italy

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REEVO has announced that its innovative portfolio of in-house games is now live with Microgame, one of Italy’s leading gaming service providers.

This partnership marks another significant milestone in REEVO’s expansion strategy, bringing its rapidly growing collection of original slot titles to Microgame’s extensive operator network. Known for its cutting-edge technology, immersive mechanics and distinctive themes, REEVO continues to redefine the online casino experience for players worldwide.

Italian operators and players will now gain access to some of REEVO’s most popular and engaging titles, including Bongo Safari, Her Genie Ways and Bullfighting Champion—games that blend striking visuals, fresh concepts and dynamic gameplay designed to captivate audiences.

Francesco Cuzzupoli, Gaming Product Director at Microgame, said: “With REEVO joining our portfolio, we strengthen Microgame’s ability to provide Italian operators with a diverse and high-quality offering. The vast selection of titles and the advanced architecture of REEVO’s platform represent an important competitive lever for us.”

Karl Grech, Head of Business Development at REEVO, said: “We’re delighted to officially go live with Microgame, a market leader in Italy with an impressive operator network. This collaboration is a powerful step forward in our mission to deliver exceptional content and aggregation solutions to operators globally. By combining REEVO’s innovative in-house games with Microgame’s deep local expertise, we’re confident players in Italy will enjoy a truly unique and next-level gaming experience.”

The post REEVO Goes Live with Microgame, Expanding Its Reach in Italy appeared first on European Gaming Industry News.

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Ivelina Balova Product Owner at Sneaky Slots

Sneaky Slots reveals a bunch of freaks in its second release, Freak Show Revelation

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The show is about to begin… so find your seats, sit back and enjoy The Freak Show Revelation! B.T Parnum has gathered the freakiest freaks and created a program that is meant to shock the people! This is the second release from Sneaky Slots since the launch of Nip Tuck last month, with Gopnik and Gods Go Pew Pew up next!

Reel Area

The Freak Show unfolds across a 3-3-3-3-3 reel setup with a couple of sneaky Host tricks above the reel. Each linked to a Host symbol that can land anywhere on the reels. When a Host Symbol lands, the corresponding feature above the reel activates:

  • Host Multiplier: Awards a random Multiplier 5x, 10x, 25x and 50x.
  • The Generous Host: The Host will expand to cover the entire reel and acts like a wild.
  • Host Cash: Instant cash prize will be awarded and the Host will add a random multiplier between 2x and 10x.

xBomb®

Well, well, well… look what decided to make an surprise appearance! It’s one of Nolimit City’s iconic xMechanic, xBomb®, making its first ever appearance in another provider’s game!

In Freak Show Revelation, xBomb® explodes removing all adjacent symbols and increases the Multiplier for the next collapse.

Pick Your Bonus!

The beauty of this show is that get to choose between Heaven and Hell. Land 3 Bonus Symbols and choose between either the Heaven Spins or Hell Respins. Landing 4 Bonus Symbols will unlock the choice for the Super Variants of each bonus.

Heaven Spins

So, you think you have a good cocnscious. When selecting the Heaven Spins, you get 10 free spins. During this feature the Host activation increase in frequency.  A single Bonus Symbol will activate Super Heaven Spins and will award +3 Spins.

Super Heaven Spins

The difference between Heaven and Super Heaven Spins is that the Host is guaranteed to land at least once in each spin.

Hell Respins

Maybe you’re feeling a little mischievous. When selecting the Hell Respins Bonus, you are award 3 respins where the only symbols that can land are; Multipliers between 1x-10x, Blank, Bonus and the Host.

When a multiplier lands on the reels, it’s value will be added to the current multiplier on top of the relevant reel.

Whenever the Host lands on any reel, he will double the value of the multiplier above that reel.

Landing a Multiplier or the Host will always award +1 respin. At the end of the feature all Multipliers will be added up and added to the bet.

Landing a single Bonus Symbol will upgrade Hell Respins to Super Hell Respins and award +2 respins. Super Hell Respins will also keep the collected Multipliers above the reels.

Super Hell Spins

The difference between Hell and Super Hell Respins is that in Super Hell Spins you start with 4 free respins . During Super Hell Spins whenever the Host lands it will triple the value of the Multipliers above that reel. Landing at least 1 Multiplier Symbol or Host will award +1 respin.

Sneaky Buy

Do you want the best seat in the house? The Sneaky Buy feature lets you jump straight into the action:

  • The Host – Guaranteed to land at least 1 Host symbol
  • Bonus – Guaranteed to land 3 Bonus Symbols and pick either Heaven Spins or Hell Respins
  • Super Bonus – Guaranteed to land 4 Bonus Symbols and pick either Super Heaven Spins or Super Hell Respins

Sneaky Boost

Sneaky Boost makes for an unforgettable performance in Freak Show Revelation.

Sneaky Boost is activated for 2 times the base bet, where there is an increased chance of triggering the Bonus rounds. Landing 1 or 2 active Sneaky Symbols in a spin trigger a normal bonus feature.

Super Sneaky Boost can be activated for 5 times the base bet for an increased chance of triggering the Super Bonus feature. Landing 1 Super Sneaky symbol will trigger a normal Bonus and landing 2 Super Sneaky symbols will trigger a Super Bonus.

The Stats

Max Win: 13,000x

Volatility: Extremely Volatile

 

Ivelina Balova, Product Owner at Sneaky Slots, said: “We’ve gotten great reception after our first release and now we’re looking to capitalise off that momentum. Freak Show Revelation has been in the works for a while, we have even changed the name a few times, but the Host? He has always been the star of the show. Sit back, enjoy the spectacle and keep an eye out for those easter eggs!”

Freak Show Revelation will be available to all Sneaky Slots partners on October 29th, 2025.

The post Sneaky Slots reveals a bunch of freaks in its second release, Freak Show Revelation appeared first on European Gaming Industry News.

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BGaming

Land Colourful Cluster Wins in BGaming’s Merge Up™ 2

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Rapidly expanding content provider delivers data-driven sequel to improve on popular hit

Popular iGaming content provider BGaming is proud to announce the release of Merge Up™ 2, the long-awaited sequel to the hugely popular cluster-pay title, Merge Up™. The new release elevates the original’s gameplay mechanics and design, using data-driven insights and research to give players exactly what they want.

The company has collaborated with Strmlytics, which provided factual streaming data and direct feedback from the streaming community playing Merge Up™. These insights have enabled BGaming to enhance gameplay without losing the charm and appeal of the original title.

This data-first approach has resulted in a visually modernised and polished slot experience. Merge Up™ 2 features an eye-pleasing pastel theme, with simplified visuals and mechanics that are now even easier for players to read.

Gameplay has seen the most significant enhancements. Cell Multipliers are now a central part of the base game, while consecutive clusters can trigger the all-new Bomb symbols, an idea inspired by a more rewarding experience compared to the original title.

Bonus features have also been made more accessible. The Free Spins bonus is triggered with three Scatters, as opposed to four, while three Bonus Buy options now offer different entry levels for players with a brand new bonus with maximum potential.

Merge Up™ 2 also boasts an explosive math model, offering a 10,000x maximum win and an impressive 98% RTP, enhancing the overall entertainment experience.

Yana Drabianok, Game Designer at BGaming, said, “We aimed to keep the merging mechanic as dynamic as before and make it even more engaging, but in the end, we knew the game must also have a heart. Merge Up™ 2 is more than a set of soulless features – it’s a game made with love for detail. We want the feeling of it to be precisely that of a game with a soul: with a smooth flow, understandable rhythm, instant readability, and pleasant “micro-rewards” at every step.

Sebastian Khalighy, CEO at Strmlytics, said, “We are delighted to work alongside BGaming again, and we are excited to see how players react to Merge Up™ 2. Our data, expertise and research identified key areas improvements of the original gaming experience focusing on improving the overall player experience, and we believe the final product addresses all of them, both for the fans of the original and also new players.

Data-driven insights and player research are going to play a key role in gaming development in the coming years, and titles like Merge Up™ 2 are an excellent example of what they are capable of helping to produce.”

The post Land Colourful Cluster Wins in BGaming’s Merge Up™ 2 appeared first on European Gaming Industry News.

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