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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.
Abigail Welch Editor of iGaming News
Press Box PR Becomes Official Sponsor of Women in iGaming, Backed by iGaming News
iGaming News is excited to reveal Press Box PR, a top digital and conventional PR firm for the iGaming and sports betting sector, as the official Women in iGaming sponsor of the publication. This collaboration backs iGaming News’ Women in iGaming initiative, a program focused on honoring, showcasing, and elevating the accomplishments of women leaders advancing the industry.
To launch the partnership, iGaming News has unveiled a new category, sponsored by Press Box PR, at its first iGaming News Awards: “Woman of Influence,” highlighting outstanding women who are transforming the industry and fostering innovation.
Abigail Welch, Editor of iGaming News, said: “We are thrilled to welcome Press Box PR as the official sponsor of our Women in iGaming initiative. Their expertise in digital PR will help us bring the incredible stories of women across the industry to a wider audience. This partnership is about celebrating women every day, supporting their achievements and inspiring the next generation of leaders.”
Sarah Williams, B2B account manager for Press Box PR, said: “We’re thrilled to be a part of iGaming News’ Women in iGaming initiative! With International Women’s Day coming up this Sunday as well as March being Women’s History Month, there’s no better time to announce this fantastic partnership. By putting our time, money and effort behind initiatives like Women in iGaming, Press Box PR is showing support all year long, not just on certain days or months.
“While we are certainly seeing more women excelling and leading in the industry, only about 16% of executive-level roles in the sector are held by women, according to the latest 2025 data from the Gambling Survey for Great Britain. I hope that by shining a light on the skilled women in this industry, we can see that representation increase.”
The partnership will feature editorial pieces, interviews, podcasts, and campaign material highlighting women who are shaping history in iGaming, their professional paths, and how they are progressing the industry. Uniting iGaming News’ industry influence with Press Box PR’s digital communication skills and client network, the collaboration aims to amplify women’s voices and enhance recognition for female leaders.
The post Press Box PR Becomes Official Sponsor of Women in iGaming, Backed by iGaming News appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
HAPPY MONEY HENS
INSPIRED UNVEILS HAPPY MONEY HENS™, GOLDEN WINNER GRAND CHANCE SUPER WHEEL™ & GOLD CASH FREE SPINS RISING WINS™ ACROSS ONLINE & MOBILE
Inspired Entertainment, Inc. (NASDAQ: INSE), a leading B2B provider of gaming content, systems, and solutions, has unveiled three new online and mobile slot releases—Happy Money Hens
, Golden Winner Grand Chance Super Wheel
, and Gold Cash Free Spins Rising Wins
—now live across the UK and Maltese iGaming markets.
Happy Money Hens
launches the new Happy Money
series with a vibrant, hen-themed slot packed with Easter charm and big-win potential. Players interact with three animated hens, represented as pseudo-persistent feature bags above the reels, triggering multiple bonuses including Double Coins, Pot Fill, and the unique Happy Boost. Fast-paced action continues through a three-life Win & Spin Bonus, delivering expanding-win excitement and setting a playful tone for the broader Happy Money
family.
Golden Winner Grand Chance Super Wheel
builds on the award-winning Golden Winner Grand Chance series with a shared Super Wheel feature powered by patented Player Link
technology. High-energy reels, golden bells, and the iconic Grand Chance Cherry come alive with reel “dings” that activate wheel spins, instant cash prizes, and Super Bonuses. Shared prize pots, multiplier-boosting trails, and surprise modifiers create a community-driven, pulse-pounding slot experience designed to keep players returning.
Gold Cash Free Spins Rising Wins
is the latest chapter in the renowned Gold Cash
franchise, introducing fresh mechanics while retaining the series’ signature style. The base game features random reel expansions, while the bonus round lets players choose: more spins at lower reel heights for steady wins, fewer spins with taller reels for high volatility, or a mystery option. Additional features include Fortune Bet, Fortune Spins, a Gamble option, and Bonus Buy where permitted, giving players control over risk and reward while enhancing overall excitement.
Claire Osborne, Managing Director of Interactive at Inspired Entertainment, commented:
“These new releases reflect our commitment to delivering diverse, engaging entertainment while supporting responsible play. By blending innovative mechanics with familiar formats, each game offers exciting and balanced gameplay. Inspired remains focused on creating high-quality, innovative, and enjoyable entertainment experiences as we continue to expand our portfolio.”
The post INSPIRED UNVEILS HAPPY MONEY HENS™, GOLDEN WINNER GRAND CHANCE SUPER WHEEL™ & GOLD CASH FREE SPINS RISING WINS™ ACROSS ONLINE & MOBILE appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Compliance Updates
Isle of Man Govt Publishes its National Risk Assessment (NRA) Covering Money Laundering Risk in Gambling Sector
The Isle of Man government has published its updated National Risk Assessment (NRA) for the gambling sector.
The assessment identifies key threats of Money Laundering (ML) to the island’s Gambling sector (both Terrestrial and Online) and the materiality and impact of those threats. Both terrestrial and online gambling have been given a risk rating, with an overall rating for gambling as a whole. These risk ratings and key findings of the NRA feed into the wider NRA work, ensuring the Island has a comprehensive view of the entire threat landscape.
The NRA aggregates, compares and weighs the findings across all sectors to determine which risks drive national exposure. This ensures the NRA is not hypothetical: it reflects actual sector-level dynamics so that the Island can understand the “bigger picture” with each sectoral assessment piecing together a border threat picture.
It is important that the island has a comprehensive understanding of risk at all levels, which does not reflect poor standards but instead outlines structural features of a sector. A robust NRA demonstrates that the jurisdiction understands its ML risks and applies targeted controls that are appropriate.
Risk Ratings are as follows:
• The gambling sector overall is assessed as medium-high risk for money laundering.
• The online gambling sector has a medium-high risk, reflecting a large number of international customers and transaction volumes.
• The terrestrial gambling has a medium-low risk, reflecting its smaller size, domestic profile and lower transaction volumes.
Key Takeaways
The Sectoral NRA highlights core threats in both the online and terrestrial sectors, including:
• Criminal ownership and control of gambling businesses or B2B services, via front companies and complex corporate structures.
• Exploitation by organised crime groups, including those from East and Southeast Asia, for money laundering, cyber-enabled crime and other illicit activities globally.
• Criminals use false or stolen IDs, synthetic identities, and mule identities to access gambling services and obscure their true identity to bypass due diligence controls.
• For terrestrial gambling, cash-intensive operations and casino-specific instruments remain primary channels for laundering domestic predicate offences.
It also highlights potential emerging threats such as:
• Use of advanced technologies (AI, deepfakes, virtual assets) to obscure identities, automate fraud, and facilitate cross-border transfers.
• Use of “turnkey solutions” (pre-packaged business setups) allowing rapid establishment of operations and access to banking services with minimal experience.
Importantly, the NRA makes it clear that these risks arise in specific circumstances with the sector operating legitimate international structures, strong governance and applying high standards of AML/CFT compliance. Those features that make activity higher risk for misuse should be considered within that context.
The post Isle of Man Govt Publishes its National Risk Assessment (NRA) Covering Money Laundering Risk in Gambling Sector appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
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