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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.
Bone Appetit
INSPIRED LAUNCHES BONE APPÉTIT & GOLD SPINNER ACROSS ONLINE & MOBILE
Reading Time: 2 minutes
Inspired Entertainment, Inc., a leading B2B provider of gaming content, systems, and solutions, is excited to announce the launch of Bone Appetit
and Gold Spinner
across the UK and Malta iGaming markets. Featuring striking visuals and thrilling gameplay, this pair of online and mobile slots has been designed to captivate players and drive strong performance for operators, further expanding Inspired’s growing iGaming portfolio of premium content.
Bone Appétit is a lively, pet-themed slot game played on 5X3 reels with 243 ways to win. Developed with a playful mix of pet-themed characters, the game offers an array of engaging features, including Bonus and Scatter symbols that unlock Free Spins, the Wheel Bonus, and progressive-style rewards.
The Wheel Bonus awards cash prizes and special features, while random appearances from a mischievous dog can trigger Big Wins or Bonus rounds. During Free Spins, cat chefs prepare a series of culinary upgrades, with the final payout determined by the quality of the dish they land, with higher-tiered dishes yielding the biggest rewards.
Players can enhance and customise their experience through Fortune Spins, Fortune Bet, and Bonus Buy options, or take risks with the Gamble feature for potentially larger prizes. Bone Appétit delivers an entertaining slot experience designed to appeal to a player’s appetite for light-hearted slots fun.
Gold Spinner
is a high-energy 5×4 Ways Pays slot that blends dazzling gold-themed visuals and electrifying graphics with exciting gameplay. Designed for thrill-seeking players, the game revolves around a unique coin collect mechanic supported by two powerful bonus features that build anticipation and deliver potentially big rewards.
A pseudo-persistent coin pile collects coins from the first two reels, guaranteeing a coin drop when triggered. Coins landing on these reels activate a mini slot feature, awarding extra coins, multipliers, or boosts, all of which can carry into the Free Spins Bonus for even greater win potential.
As always, players can further tailor their experience through features such as Bonus Buy, which guarantees a Free Spins coin, Fortune Spins for streamlined play, and Fortune Bet for increased Free Spins frequency. With its combination of striking visuals, immersive mechanics, and adrenaline-fueled gameplay, Gold Spinner delivers a super-charged slot experience packed with winning opportunities.
Claire Osborne, Vice President of Interactive at Inspired Entertainment, said: “We are delighted to expand our iGaming portfolio with the launch of Bone Appétit and Gold Spinner, two fun titles that showcase the creativity and variety Inspired is known for. From the playful charm of Bone Appétit to the high-voltage thrills of Gold Spinner, both games deliver distinctive themes and engaging bonus features designed to entertain players and drive a strong performance for our operator partners.”
The post INSPIRED LAUNCHES BONE APPÉTIT & GOLD SPINNER ACROSS ONLINE & MOBILE appeared first on European Gaming Industry News.
Angel Gardzhev Product Owner at Sneaky Slots
Sneaky Slots drags players to the streets of Eastern Europe with its latest release, Gopnik
Reading Time: 4 minutes
Spit sunflower seed shells and take a walk with us to the rougher and tougher side of Europe with Sneaky Slots’ latest release Gopnik. Once you’re done squatting with the locals, get ready for our last release of 2025, Gods Go Pew Pew.
Reel Area
Gopnik plays out across a gritty 4-4-4-4-4 reel setup, where street smarts are the most important thing followed by babushka’s home-made cooking.
Two special symbols, Babushka and the Burner Phone, are like two peas in a pod that can deliver some unexpected neighbourhood drama.
- Babushka acts as a Wild and substitutes for all paying symbols. When she lands, she marks 1 to 4 positions across the other reels. If a Gopnik symbol hits any marked spot, it awards an instant bet multiplier of up to 50x.
- Burner Phone: RING RING! Ey brat, pick up! When this symbol drops on reel 5, it flips 2 to 4 random symbols into Wilds.
xNudge®
Fresh from the Nolimit streets, xNudge® rolls into Sneaky Slots for its debut.
The xNudge® Wild always nudges to become fully visible and substitutes for all paying symbols, increasing its win multiplier by 1 for every nudge. It can appear in the base game, Street Roll, and Super Street Roll (but never on the 1st or last reel), with up to 2 xNudge® Wilds landing per spin in the base game and Street Roll, and up to 4 in Super Street Roll.
Pick Your Bonus!
(Scratch Card Bonus Entry)?
Land 3 Bonus scatters to whip out a Scratch Card and try your luck. Matching symbols will trigger either Street Roll or Kiosk Raid Bonus games.
Hit the Super Bonus scatter on reels 4 and 5 alongside the Bonus scatters, and level up to the Super Scratch Card Bonus.
Keep an eye out for the Golden Car on the scratch card. Reveal this to win the filthy 6,666x Max Win.
Street Roll
Street Roll drops you onto the cardboard with 7 Free Spins and a boosted 6-reel setup. During this feature, Gopnik symbols on the 1st and last reel can land holding a dice token. If you manage to hit a Gopnik-with-dice on both ends, you’ll trigger the Cheeki Breeki Dice mini game, packed with multipliers also featuring xNudge.
Super Street Roll
Same rules as Street Roll apply, but if a win Multiplier is awarded from the Cheeki Breeki dice game it stays for the whole round and is stacked up with each new Multiplier awarded.
Cheeki Breeki Dice
Ey brat, come closer… got a game for you.
During Street Roll or Super Street Roll, the Cheeki Breeki Dice can hit the cardboard, and whatever those cubes show decides your fate. If the left die wins, you score a win multiplier for the current spin. If the right die wins, you get a burst of random Wilds. The value of the multiplier or the number of Wilds match whatever number landed on the winning die.
Land three pairs and you score a retrigger of 5 Free Spins. But hit the same pair three times in a row and boom, you unlock the Blyatiful Throw, awarding an instant prize based on the number rolled.
Kiosk Raid Spins
Kiosk Raid starts you off with 3 Spins, and only label symbols can drop. Every time a label lands, your spin count resets back to 3. Up top, the kiosk shelf flashes fresh bet multipliers each spin. Land a label right under one, and it grabs that multiplier and holds it till the end. Multipliers range from 1x all the way up to a fat 100x.
On every spin, the Kiosk Lady places bet multipliers across the top shelf of her stand. Each time you land a new label symbol below a Multiplier it will receive that Multiplier and hold it until the end of the bonus. And if the Kiosk Lady’s in a good mood (or just bored) she might toss in a modifier on the top row, giving a random label below a little upgrade.
Your total bet multiplier racks up above the grid as the labels stack their value. When the bonus ends, the Kiosk Lady whips out her trusty old calculator, probably older than Babushka, totals everything up, and hands over your payout with that classic “don’t bother me again” energy.
- Upgrade – Upgrades Multiplier on a random label below it to a bigger value.
- Double – Doubles value of a random label symbol below it.
- Collect – Collects a random label below it and adds its value to the total bet Multiplier again.
- Super Bonus – Gets you into Super Kiosk Raid.
Super Kiosk Spins
The same rules as in the normal Kiosk Raid apply here as well, but 2 more rows are unlocked. The first adds room for even more label symbols, while the new bottom row rolls out extra added values; from +1 all the way to +100, boosting every label stacked above it. This bottom row can also reveal exclusive Super modifiers, hitting entire vertical lines at once:
- Upgrade All – bumps all multipliers in that column to a higher value.
- Collect All – collects every label in that column and adds their total again.
- Double All – doubles the value of all labels in that column.
Sneaky Buy
Can’t wait for the shop to open up on its own? Ey brat, no shame in cutting the line. You can directly purchase the game features through the Sneaky Buy menu!
- Street Roll – You are guaranteed to enter the Street Roll Bonus.
Sneaky Boost
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: 6,666x
Volatility: Highly Volatile
Angel Gardzhev, Product Owner at Sneaky Slots, said: “We wanted to follow up Freak Show Revelation with something that hits even harder, and nothing hits quite like a proper Gopnik. The mechanics, the humour, the whole vibe came together in a way we’re incredibly proud of. Sit tight, brat… this is only the beginning.”
The post Sneaky Slots drags players to the streets of Eastern Europe with its latest release, Gopnik appeared first on European Gaming Industry News.
10 Santa’s Reindeers
Push Gaming unwraps festive fun with 10 Santa’s Reindeers and Santa Hopper
Reading Time: 2 minutes
B2B gaming supplier Push Gaming is spreading a double-dose of holiday cheer with the launch of 10 Santa’s Reindeers and Santa Hopper, two seasonal slots packed with excitement, charm, and immersive gameplay.
Leading the festive line-up is the latest Push Actions title, 10 Santa’s Reindeers, arriving in lobbies from 26th November. Inspired by Push’s hit game 10 Swords, this new release retains the popular scatter-pay mechanic while adding a fresh twist with Jackpot Reindeer symbols. These not only act as scatters but also grant instant prizes, offering players even more to aim for on each spin.
The true magic happens in the bonus game, where players unlock additional reel levels as they progress, boosting the chances of landing high-value Reindeer symbols and increasing win potential.
The base game provides the opportunity to enhance the gameplay once the bonus lands, thanks to the Push-Up Mods feature, which allows players to expand the reel set early, increasing their chances and ensuring a more powerful bonus round.
Arriving a week earlier on 19th November, Santa Hopper presents a more whimsical take. Set in a snowy wonderland, this charming slot offers light-hearted fun with the Santa and Jingle Drop features, both designed to keep gameplay unpredictable and engaging.
The latest addition to the Push Originals stable, it flexes its appeal to casual players with vibrant visuals, catchy mechanics, and lively pacing. Its approachable style and festive vibe make it an ideal choice for players looking for light-hearted entertainment with strong seasonal appeal.
George Fil, Director of Product Strategy at Push Gaming, said: “Christmas is always a special time in the slot world, and this year we wanted to offer something for everyone. 10 Santa’s Reindeers is packed with action and surprises, while Santa Hopper brings a more playful, unpredictable energy.
“Both are built to deliver that festive buzz players love, and we’re really excited to see them go live.”
The post Push Gaming unwraps festive fun with 10 Santa’s Reindeers and Santa Hopper appeared first on European Gaming Industry News.
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