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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.
Alex Baliukonis Game Producer at BGaming
Snap Up Big Wins in BGaming’s Shark & Spark Hold & Win
BGaming, a leading provider of iGaming content, has unveiled its latest online slot, *Shark & Spark Hold & Win*, showcasing an engaging character-driven design alongside an innovative twist on the popular Hold and Win mechanics. This new release introduces a playful bonus mode and aims to deliver a fresh gaming experience.
Set in an underwater world, the game immerses players in a vibrant 5×6 grid teeming with colorful marine life and led by a charming baby shark. Far more companion than predator, this animated character reacts to in-game events and serves as the protagonist of the highlight feature: the Sharks & Ladders bonus game.
*Shark & Spark Hold & Win* employs a pay-anywhere mechanic and incorporates a Cascading Wins feature, which boosts winning opportunities. Throughout gameplay, Pearl symbols may appear, offering prizes or multipliers that can be collected with each spin, enhancing earnings.
Landing four or more Scatter symbols in a single spin activates one of two distinct bonus rounds, chosen at random. The first is the Coin Respin feature, a classic Hold & Win-style bonus. In this mode, Coin symbols drop onto an empty grid, stick to the reels, and reset the spin counter with each appearance. When spins are exhausted, the total value of all Coins and multipliers are added up and awarded to the player.
The second bonus is Sharks & Ladders, inspired by the iconic Snakes & Ladders board game. Here, players control the shark as it moves across the board, collecting multipliers and leveraging shortcuts along the way. Reaching the final space unlocks a spin on the Wheel of Fortune, with potential prizes ranging from 100x to an impressive 5,000x bet multiplier.
Adding to its appeal, the game features medium-high volatility with a generous RTP of 97%. For those who prefer immediate action, players can also utilize the Buy Bonus feature to instantly trigger either of the bonus rounds.
With its vibrant visuals, engaging gameplay, and the incorporation of a unique board-game-inspired bonus mode, *Shark & Spark Hold & Win* is expected to attract both new players and experienced enthusiasts. Its innovative features and charismatic shark character also make it particularly appealing for streaming audiences and ideal for enhancing player retention.
Alex Baliukonis, Game Producer at BGaming, shared his excitement about the new release: “Designing *Shark & Spark Hold & Win* has been an incredible journey for our team. The Snakes & Ladders-inspired concept brings something completely fresh to our portfolio, and we believe its dynamic features will resonate with a wide audience. The central shark character adds charm and personality to the game, allowing us to unleash our creativity. We’ve seen great success with other character-led games, and we’re confident this release will capture players’ hearts just as effectively.”
With its captivating theme and engaging mechanics, *Shark & Spark Hold & Win* stands poised to make waves in the iGaming industry.
The post Snap Up Big Wins in BGaming’s Shark & Spark Hold & Win appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
eSports
Esports Foundation books Paris Expo Porte de Versailles for Esports World Cup 2026
The Esports Foundation (EF) has confirmed Paris Expo Porte de Versailles as the venue for Esports World Cup 2026, scheduled to run in Paris, France, from July 06 through August 23.
EF said tickets for all 25 competitions will go on sale from Friday, May 29, 2026, via esportsworldcup.com/tickets. The organiser said the venue will host competition arenas, broadcast operations, and fan activations across the seven-week programme.
According to EF, more than 2,000 players from over 200 Clubs and more than 100 countries will compete for a $75 million prize pool as part of the event’s cross-game Club Championship. The tournament lineup spans major competitive genres, including first-person shooters, strategy, sports, MOBAs, battle royales, fighting games, racing games, and Chess.
EF also outlined ticketing tiers, including Regular Tournament Passes, Premium Tournament Passes (with fast-track entry and a limited-edition goodie bag), Daily Regular Tournament Passes, and tiered Final Day seating zones (Gold, Silver, and Bronze) for select championship matches across VALORANT, League of Legends, Rocket League, and Counter-Strike 2.
The published schedule lists Week 1 events including VALORANT (July 9–12), ALGS Year 6 Split 1 Playoffs (Apex Legends) (July 7–11), Dota 2 (July 7–12), and FATAL FURY: City of the Wolves (July 8–11), with Counter-Strike 2 closing out Week 7 from August 19–23 alongside Fortnite Reload Elite Series Championship, Trackmania, and CROSSFIRE.
The post Esports Foundation books Paris Expo Porte de Versailles for Esports World Cup 2026 appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Africa
Bede Gaming’s Latest Sunbet Expansion Delivers iGaming Platform to Namibia
Launch adds sports, slots and live casino, with integrations including Kambi and Evolution.
Sunbet, the digital gaming arm of Sun International, has launched in Namibia using an “internationally configurable” platform supplied by Bede Gaming. The rollout marks Sunbet’s latest African market expansion with the technology partner.
Bede said the Namibia deployment mirrors Sunbet’s other African markets, covering sports, slots and live casino. The platform includes integrations with Kambi, Evolution, Habenero and Pariplay.
Operationally, Bede said Sunbet will also use its partnership with Xtremepush to access CRM tooling aimed at supporting acquisition and retention.
Bede and Sunbet have worked together since 2017. Bede said that after slot regulation changed in South Africa in 2022, Sunbet expanded its digital product line-up, followed by a Botswana launch in 2024. Bede cited H2 2025 Botswana results of 189% growth in registrations, 239% growth in unique players, and increases of 370% in total wagering and 350% in Gross Gaming Revenue (GGR).
Kirsty Stewart, Chief Legal & Client Success Officer at Bede, said: “It’s been wonderful to continue fostering our ongoing partnership with Sunbet, including the delivery of their two global expansions over these last couple of years. There’s a lot to be proud of within this customer relationship, and we’re looking forward to building on the outstanding performance we’ve witnessed so far. I’m eager to continue offering a strong foundation, exceptional service and powerful integration suite for Sun’s future growth.”
Simon Gregory, Chief Executive Officer at Sunbet, said: “Sun International is a well respected and trusted brand in Africa, so Sunbet’s intention was always to leverage this good will by expanding into other African markets. We experienced significant success after our debut in Botswana, so rolling out Sunbet to the Namibian market was the natural next step for us, especially given that Namibia is one of South Africa’s strongest trading partners.
“We are equally confident that with Bede, we have the right partner to achieve our regional expansion strategy. Their platform offers the digital flexibility and stability we need to efficiently enter new markets while living up to Sunbet’s promise to deliver a high-quality experience for players.
“We look forward to building a strong presence in Namibia and bringing the same trusted Sunbet experience that customers have come to expect across our other markets.”
The post Bede Gaming’s Latest Sunbet Expansion Delivers iGaming Platform to Namibia appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
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