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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.
Play’n GO invites players to delve into the thrilling realm of Loot & Labyrinths, where tabletop RPGs meet the spinning reels. Combining strategic dice rolls with rewarding slot mechanics, this 5×3 video slot offers an unparalleled fantasy experience.
A group of friends begins a tabletop adventure, only to find themselves transported into the game itself. Now, players must help their avatars – the wizard, rogue, paladin and barbarian – navigate treacherous dungeons, battle formidable foes, and claim legendary loot. With every spin, the stakes rise, bringing the thrill of dice-driven RPG mechanics to slot gaming.
With Loot & Labyrinths, Play’n GO brings a fresh take on role-playing themes, allowing players to engage in encounters that test their luck and strategy. Whether facing off against monsters, looting treasure, or enjoying a well-earned tavern break, every decision can tip the odds in their favour.
The game’s standout features elevate its strategic depth. The Random Encounter mini-game challenges players to roll their way through three unique events: Monster Attack, Treasure Lair, and Tavern Night, each offering distinct rewards and opportunities to boost multipliers up to 5x. Meanwhile, Dungeon Free Spins push the adventure further, allowing players to draw buffs that transform symbols, grant extra spins, and unlock progressively higher multipliers – culminating in a potential 100x boost.
For fans of immersive slot storytelling, Loot & Labyrinths builds on Play’n GO’s legacy of rich narratives, aligning with titles that transport players to otherworldly adventures like Champions of Mithrune and Trinity Impact. Its engaging mechanics and stunning fantasy-inspired artwork make it an ideal choice for players who enjoy both slot gaming and RPG-style strategy.
Head of Game Retention at Play’n GO, George Olekszy, said: “We love bringing fresh ideas to the slot world, and Loot & Labyrinths is a prime example. The blend of dice-rolling mechanics with engaging slot features offers a unique experience. Players will appreciate the strategic choices, immersive theme, and, of course, the chance for epic wins!”
With its dynamic gameplay and rich fantasy setting, Loot & Labyrinths is set to captivate players seeking a new way to spin and strategise. Ready your dice – fortune favours the bold!
The post Loot & Labyrinths: Roll the Dice for Riches appeared first on European Gaming Industry News.
HIPTHER, media brand and organizer of renowned boutique networking events for the Gaming and Tech industries, is thrilled to announce the ending and the Big Winners of its iGaming & TECH Fall–Winter Run-Off 2024–2025, presented and sponsored by GameOn.
The results are in, and the iGaming and tech community has once again gone the distance! The iGaming & TECH Fall–Winter Run-Off 2024–2025, proudly presented by GameOn, came to a strong finish, celebrating movement, determination, and next-level endurance.
Over the past few months, dozens of industry professionals laced up and braved the rain, wind, and cold for a virtual challenge that turned kilometers into camaraderie – and competition. Participants from across the globe logged hundreds (and in some cases, thousands!) of kilometers in this season’s challenge, proving that the iGaming & tech world knows how to move.
A massive congratulations to our Top 5 Women and Top 5 Men, who truly embodied the spirit of the Run-Off and inspired us all with their dedication:
🏅 Top 5 Women:
🥇 1st Place: Lucy Owen (Playtech) – 1794.3 km
🥈 2nd Place: Stefania Nitulescu (Betfair Romania Development) – 1116.5 km (Winner of the 2024 Summer Run-Off Challenge, ASICS Frontrunner)
🥉 3rd Place: Galya Srugo (Paysecure) – 970.2 km
🏅 4th Place: Irma Kristic (NSoft ) – 859.7 km
🏅 5th Place: Ineta Macinskiene (WALLETTO) – 520.3 km (Also a top 5 finisher in the 2024 Summer Run-Off Challenge)
🏅 Top 5 Men:
🥇 1st Place: Hristijan Nasevski (Bragg) – 1678.7 km (Winner of the 2024 Summer Run-Off Challenge)
🥈 2nd Place: Rob Fell (RiskCherry) – 835.6 km
🥉 3rd Place: Krystian Kotynia (Relout) – 776.9 km (Also placed in the top 5 during the 2024 Summer Run-Off Challenge)
🏅 4th Place: Will Talbut (Playtech) – 763.4 km
🏅 5th Place: Heimar Lecht (Telesign) – 758.5 km (Another consistent top performer from the 2024 Summer Run-Off Challenge)
Zoltan Tuendik, Co-Founder at HIPTHER and Founder of the HIPTHER iGaming Strava Club, stated: “The iGaming Runners Strava Club has far surpassed our expectations, and we’re only just getting started. With Summer Runoff 2.0 on the horizon and even more exciting plans in the pipeline, this community is picking up serious momentum—one step at a time
From consistent champions to first-time participants, every single runner in this challenge has made a mark. Whether you were in it to compete or simply to stay active and motivated through the colder months – your passion and perseverance made this challenge unforgettable.”
HIPTHER and GameOn would like to thank each and every participant for bringing their A-game to this season’s challenge. Your energy keeps the iGaming & tech community strong and united—even while running solo.
The next iGaming & TECH Run-Off challenge returns in May 2025, so stay tuned for more! Until then – keep running, keep pushing, and keep leveling up.
About HIPTHER’s iGaming & TECH Run-Off
At HIPTHER, wellness and sustainability aren’t trends – they’re part of our DNA. The #hipthers were the first to introduce Fitness and Wellness Networking into boutique conferences, featuring Morning Networking Runs and Yoga Sessions that helped set the tone for mindful connection.
In 2024, inspired by the incredible dedication of participants, HIPTHER Co-Founder Zoltan Tuendik launched the HIPTHER Run-Off Club on Strava, a global community initiative to promote health, fitness, and camaraderie within the iGaming and Tech industries.
With the unwavering support of GameOn as main sponsor, the Club has since organized dedicated Run-Offs during major industry events like SiGMA Europe 2024 and ICE Barcelona 2025 – uniting passionate runners from around the world in a celebration of movement, connection, and shared momentum.
The post HIPTHER Wraps Up the iGaming & TECH Fall–Winter Run-Off 2024–2025 Presented by GameOn appeared first on European Gaming Industry News.
The inaugural installation at Casino Partouche d’Annemasse features a complete setup of four state-of-the-art DIAMOND X™ 3.32 cabinets along with the SUPERIA GAMES™ Link 1. Players can now enjoy an extraordinary Linked Jackpot experience, brought to life with ultra-modern, high-quality LED signage, ensuring stunning visual impact and engaging gameplay.
A premium gaming experience like no other
The SAPPHIRE PACKAGE delivers a synergistic combination of innovation and entertainment, offering high-end gaming content through SUPERIA GAMES™ Link 1. This game mix seamlessly blends classic fan-favorites from CASH CONNECTION™ and GOLDEN LINK™ with brand-new titles, providing a diverse selection of 25 thrilling games and exciting jackpot opportunities.
The heart of the SAPPHIRE PACKAGE is the DIAMOND X™ 3.32, a premium multi-screen gaming machine that combines elegance, innovation, and player-focused design. Featuring two 32” full HD LCD game screens with LED backlighting and an integrated 32” topper for enhanced Progressives support, this cabinet ensures maximum visibility and visitor attraction on the gaming floor.
Additionally, the brilliant LED signage powered by the proven AbsoluteVision™ platform enhances the gaming experience with its dynamic content, crisp resolution, and robust LED panels – ensuring long-lasting performance and exceptional visual appeal. Its striking design makes it a true eye-catcher on the casino floor, drawing players in and creating an exciting focal point for gaming enthusiasts.
The SAPPHIRE PACKAGE is part of an exclusive series of premium offerings. Each of these special offers delivers a unique combination of innovation, high-end gaming equipment, and ultimate entertainment experience.
A new benchmark in casino entertainment
This groundbreaking installation in France marks a major milestone for NOVOMATIC, setting a new standard for premium linked gaming solutions.
Arnaud Moumdjian, Director at Casino Partouche d’Annemasse, states: “Our goal is to constantly innovate and offer our guests the most exciting and modern gaming experiences. With the SAPPHIRE PACKAGE, we are proud to be the first casino worldwide to present this new concept – a stunning combination of cutting-edge NOVOMATIC technology and immersive design. Since the moment it was installed, the feedback has been overwhelmingly positive: Players are drawn to the vibrant LED signage and thrilled by the game selection, which includes iconic titles like Book of Ra™ and Queen Cleopatra™. We thank our long-standing partner NOVOMATIC for making this exclusive launch possible.”
Patrick Delbauffe, Sales Manager at NOVOMATIC France, adds: “We are delighted to celebrate the first-ever installation of the SAPPHIRE PACKAGE at Casino Partouche d’Annemasse. This achievement highlights our strong partnership with Groupe Partouche and our shared commitment to delivering innovative and high-quality gaming experiences. With the DIAMOND X™ 3.32 cabinets and the exciting SUPERIA GAMES™ Link 1, we are confident that this new addition will captivate players and bring outstanding performance to the gaming floor.”
The post NOVOMATIC premieres SAPPHIRE PACKAGE in Casino Partouche d’Annemasse in France appeared first on European Gaming Industry News.
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