Latest News
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.
Here are this weeks latest slots releases compiled by European Gaming
Spinomenal has expanded its otherworldly Demi Gods Series with the addition of Atlas Unleashed. This epic slots saga unfolds in ancient Greece where the gods rule the reels. The 5×4 design is brought to life with sharp graphics and a momentous soundtrack that lures players into the action. Three Free Spins symbols will instantly launch the feature and will award players with 10 Free Spins. Four Free Spins symbols will award 25 Free Spins and five will gift 50 Free Spins.
Forget the dusty saloons of Deadwood R.I.P, the TV dreams of Loner and the spicy dungeons of Kenneth Must Die. This time, you’ll find yourself stranded on a lush island paradise, but paradise takes a dark turn when you discover a Tiki collector with a taste for shrunken heads! Hunted with no food or water, players must face the base game, which features a Progression Bar, where each fallen head is collected. Filling it up will unlock Soul Wilds that progressively increase in size and power. Wild Symbols add 3 points, High Paying Symbols add 2 points and Medium Paying Symbols add 1 point to the bar.
A blistering experience awaits in Blueprint Gaming’s latest offering Cash Strike Hotstepper, as a host of thrilling mechanics take centre stage, including the eye-catching Hotstepper feature offering lavish cash rewards. Stepping into a retro 3×3 grid, a feast of fruit symbols is accompanied by flaming gold coins with the title’s five pathways offering a mammoth 50,000x the original bet. All cash symbols or fixed jackpots on reels one or three are awarded when they land alongside the sizzling Cash Strike Collect symbol on reel two.
Inspired Entertainment and Paddy Power, the retail division of Flutter Entertainment plc, proudly announce the launch of Paddy Power Gold Cash Freespins, a custom game that combines the distinctive branding of Paddy Power with Inspired’s renowned Gold Cash Freespins theme. Set against the iconic green backdrop of Paddy Power’s signature colour scheme, Paddy Power Gold Cash Freespins is a 5-reel, 4-row, 40-winline slot game packed with branded Wilds and symbols, as well as other player-favorite features.
The post Week 25/2024 slot games releases appeared first on European Gaming Industry News.
Inspired Entertainment, Inc., a leading B2B provider of gaming content, systems, and solutions, and Paddy Power, the retail division of Flutter Entertainment plc, proudly announce the launch of Paddy Power Gold Cash Freespins, a custom game that combines the distinctive branding of Paddy Power with Inspired’s renowned Gold Cash Freespins theme.
Set against the iconic green backdrop of Paddy Power’s signature colour scheme, Paddy Power Gold Cash Freespins is a 5-reel, 4-row, 40-winline slot game packed with branded Wilds and symbols, as well as other player-favorite features.
Players can trigger the game’s Free Spins bonus by landing three Paddy Power bonus symbols on a single spin, rewarding players with eight Free Spins. During this feature, only the three highest symbols and stacked Wilds appear on the reels, amplifying the potential for big wins. For players who feel adventurous, a gamble feature is available to boost winnings or earn additional Free Spins. This feature presents two gamble wheels for players to choose from, each offering a different path to success.
Now available in both a retail and online format, Paddy Power Gold Cash Freespins showcases Inspired’s commitment to creating high-quality custom experiences tailored to specific operator brands like Paddy Power. The result is a seamless blend of engaging gameplay and operator-specific branded features that delivers an exceptional brand-extension gaming experience for their players.
“We are delighted to relaunch our popular title Gold Cash Free Spins in partnership with our long-term customers at Paddy Power,” said Richard Terry, UK Market Product Director for Inspired. “The seamless integration of Paddy Power branding into Gold Cash Free Spins provides an exciting, omnichannel gaming experience for Paddy Power players.”
“We’re thrilled to be working with Inspired Entertainment once again to create an exclusive gaming experience for our customers,” said Vince Bateson, Head of Gaming at Paddy Power. “Paddy Power Gold Cash Freespins builds on the theme of the original game, which our players loved, and is a fantastic addition to our portfolio.”
The post Inspired Launches Bespoke Gold Cash Freespins Game with Paddy Power appeared first on European Gaming Industry News.
FinteqHub, a PCI DSS-certified payment gateway solution provider, is set to participate in iGB L!VE 2024, one of the most expected live industry events of the year.
The exhibition will take place on 17–18 July in RAI Amsterdam. iGB L!VE provides a comprehensive platform for live communication in the highly competitive iGaming sector, contributing to its overall development. In 2024, over 300 exhibitors and sponsors, as well as almost 10,000 gaming and affiliate stakeholders are expected to attend.
This year, the FinteqHub award-winning team, recognised as an Industry Rising Star 2024 at the SiGMA Awards Eurasia, will attend the event for the second time. The company’s experts, with an average of 10 years of tech and consulting experience, will present the product’s recent updates.
FinteqHub recently enhanced its platform by integrating with notable payment solution providers, including Finshark, Ivy, CallPay, and others. These integrations have expanded its presence in countries such as Germany, Finland, the Netherlands, Norway, Sweden, South Africa, and worldwide in general. The company also expanded its analytics functionality by offering more detailed reports.
Besides PSPs integrations, the company provides banking assistance, helping companies open accounts in reliable banks. Primarily serving the iGaming and betting domains, FinteqHub also advises on the selection of strong banks and EMI providers for clients’ needs.
Vadim Drozd, CEO at FinteqHub, expresses his expectation of the event: “This event gives us an opportunity to show our innovative solutions and communicate with key stakeholders in the industry. Live discussions of the latest industry trends and possibilities of collaboration help elevate the fintech and iGaming sectors. We warmly invite our partners to attend the exhibition and visit our stand.”
FinteqHub will participate in the exhibition alongside its lifetime partner SOFTSWISS. Using this link, current and potential clients can schedule a meeting with FinteqHub experts at stand 12-F30.
About FinteqHub
FinteqHub is a fresh player in the payment solutions market with the core product – PCI DSS-certified payment gateway for online businesses. It started its journey in 2019 and assembled a team of 150+ top-notch professionals with solid legal, financial, and technical expertise. The company is headquartered in Lithuania, with offices in Malta, Poland, and Georgia. FinteqHub makes the management of payment processing transparent, stable, and flexible.
The post FinteqHub to Present Updates at iGB L!VE 2024 appeared first on European Gaming Industry News.
-
Balkans5 days agoEEGS Announces Second Part of the Exclusive Webinar: “Balkan Gaming Landscape – a Maze or Amaze? Deep Dive in the Markets”
-
Central Europe5 days ago
Bragg Gaming Continues Global Expansion, Powers Kingsbet.cz Launch with an End-to-End iGaming Solution
-
Balkans5 days ago
EGT’s Gods & Kings Link with first installation in Bulgaria
-
Balkans5 days ago
Mermaid’s Quest Debuts with Installation in Palms Bet
-
Latest News5 days ago
Spinomenal bolsters Demi Gods Series with heavenly Atlas Unleashed slot
-
AGLC5 days ago
Inspired Entertainment Partners with AGLC
-
Africa4 days ago
SCCG Management Strengthens Presence in Africa with New Office and Appointment of Joseph Oyekunle as SCCG Africa Continent Manager
-
Arizona5 days ago
Arizona Department of Gaming to Accept Applications for Event Wagering Licenses
