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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

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  • 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.

Casino Guru

Casino Guru enriches its portfolio with a dedicated sweepstakes casino database and updated safety index

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Casino Guru, the global authority on online casino transparency and player safety, is expanding its portfolio with the introduction of a dedicated sweepstakes casino overview tailored to the rapidly evolving U.S. market.

Following months of in-depth research and development, the company has unveiled a new initiative focused on social sweepstakes casinos — a unique and increasingly popular segment of the online gaming space. As part of this expansion, Casino Guru has adapted its trusted Safety Index to reflect the specific characteristics of sweepstakes casino models.

“We’ve been hearing about sweepstakes casinos for quite some time, from social media buzz to community discussions and expert panels,” said Jozef Krucay, Branch Operations Lead at Casino Guru. “It became clear this wasn’t just a passing trend, but a notable shift in how people engage with online entertainment.”

Unlike traditional online casinos, sweepstakes casinos use virtual currencies such as Gold Coins, Sweeps Cash, or Vegas Gems. Players can enjoy games for free or use purchasable coins to enhance their experience. With some luck, they may receive a special sweepstakes currency, which can be redeemed for real-world prizes — presenting both exciting opportunities and important considerations for player protection.

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Casino Guru’s newly launched content includes:

  • Listings for 11 published sweepstakes casinos, with over 60 more identified and currently in development
  • An adapted Safety Index that reflects the distinct risks and rules of sweepstakes platforms
  • Educational materials and player resources, including complaint-handling tools
  • Planned detailed reviews to provide deeper insights into each platform

“Our goal is to help players navigate this growing space with the same clarity and confidence we’ve brought to traditional online casinos,” Jozef added. “As always, our focus remains on transparency, safety, and informed decision-making.”

This new direction positions Casino Guru at the forefront of player advocacy in emerging casino formats — with a clear path toward future expansion in the broader world of social and sweepstakes gaming.

The post Casino Guru enriches its portfolio with a dedicated sweepstakes casino database and updated safety index appeared first on Gaming and Gambling Industry in the Americas.

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Gaming

Physics-Based Strategy Meets Mixed Reality: Battle Orb Redefines Competitive Gaming

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MixRift unveils brand new strategic PvP arena gaming experience

MixRift, an innovative mixed reality (MR) gaming developer, today announced the official launch of Battle Orb, a competitive strategy game which invites players to challenge each other and transform their physical surroundings into dynamic battlefields. Available now for Meta Quest platforms, Battle Orb represents the next evolution in mutli-player MR gaming.

A first PvP game for MixRift, Battle Orb allows players to step into immersive arenas where physical and digital worlds collide. Skill meets chaos in this fast-paced multiplayer strategy game, which challenges players to aim, shoot, and dominate with speed and precision across customized battlefields, combining tactical thinking with physics-based gameplay. Every hit counts as players collide, strategise and outplay opponents from around the world, from the comfort of their own homes. Players can compete in 2-player or 4-player battles, earn trophies, unlock and upgrade powerful units, and master unique arenas to climb the leaderboard.

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“With Battle Orb, we’re not just launching a game, we’re basically turning your living room into a fantasy battleground.” said Bobby Voicu, CEO of MixRift. “We wanted to create something where anyone can jump in and start having fun in seconds, but that you could also master and keep replaying. I think this is what the future of gaming looks like, and it’s a blast!”

Key Features:

  • HD Graphics: Cutting-edge MR design technology creates a truly immersive gaming experience
  • Creative Character Options: Choose from tens of monsters, creatures, and cartoons to play with – each one zanier than the last
  • Real-Time PvP Action: Face-off in 2-player or 4-player matches full of high-stakes action
  • Physics Meets Strategy: Master the perfect angle, power, and timing to outmaneuver opponents, and perfect your shots to climb through the ranks
  • Unique Units & Powers: Earn wins and open loot chests to unlock and upgrade special characters and abilities
  • Environmental Integration: Scale your battlefield to fit any space, turning living rooms into competitive arenas
  • Competitive Progression: Climb global leaderboards through a rewarding rank system and prove you’re the righteous winner

The game’s intuitive controls ensure players of all skill levels can jump in immediately, while the strategic elements provide long-term engagement for competitive gamers. Battle Orb’s intuitive and quick matchmaking system means players are matched with others in similar ranks within seconds.

Battle Orb has been designed with comfort and safety in mind, earning a “Comfortable” rating and PEGI 3 classification, making it appropriate for players of all ages while still delivering compelling gameplay for serious competitors.

“We’ve created Battle Orb to be a really special mixed-reality competitive experience,” said Voicu. “The way it transforms your physical environment into a strategic battlefield creates moments of gaming magic that simply aren’t possible in traditional formats.”

Availability:
Battle Orb is available now on the Meta Quest Store for Meta Quest 3S, Meta Quest 3, and Meta Quest 2 platforms. The game requires an internet connection for its online features.

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For more information, visit https://mixrift.com/ or follow MixRift on social media for updates, tournaments, and community highlights.

The post Physics-Based Strategy Meets Mixed Reality: Battle Orb Redefines Competitive Gaming appeared first on European Gaming Industry News.

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Conferences

Fast Track showcases AI-driven CRM, gamification and bonus abuse prevention at SBC Americas 2025

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Fast Track announces its participation at the upcoming SBC Summit Americas 2025, taking place between May 13-15 in Fort Lauderdale, Florida. The event is one of the most significant gatherings for the Latin American and North American iGaming markets, and will bring together operators and suppliers from across the region, offering a unique platform for innovation and collaboration.

As Fast Track continues to strengthen its’ market regional presence, the tech supplier will showcase its full lineup of solutions that set it apart in the iGaming industry: CRM, AI-driven gamification, and bonus abuse prevention. These core three pillars work together to help operators across Latin America and North America to enhance player engagement, manage risks, and drive sustainable growth.

“Fast Track has established a solid presence across several North and Latin American markets, and the SBC Summit Americas is the perfect platform for us to connect with both existing partners and new operators,” said Simon Lidzén, Co-Founder and CEO of Fast Track. “We’re excited to showcase how our AI-driven ecosystem is helping operators transform player engagement and achieve exponential growth.”

Visitors to Fast Track’s stands D430 and D440 will have the opportunity to explore the company’s complete product offering, including:

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  • CRM: Built around the innovative concept of Singularity, Fast Track’s CRM enables operators to deliver highly personalised, dynamic player experiences that boost retention and loyalty.
  • Rewards: An AI-driven gamification ecosystem designed to seamlessly integrate with CRM operations, turning every player visit into a rewarding experience.
  • Greco: The only Gameplay Risk Engine offering operators real-time insights and advanced risk management capabilities by providing detailed insights into player activity.

The post Fast Track showcases AI-driven CRM, gamification and bonus abuse prevention at SBC Americas 2025 appeared first on Gaming and Gambling Industry in the Americas.

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