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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.
branding
GR8_TECH rolls out a new brand identity built for digital-first iGaming
The supplier says the redesign uses a coding-inspired, modular system aimed at consistency across products, motion, and future subbrands.
GR8_TECH has unveiled a redesigned brand identity positioned as a tech-native update for a digital-first iGaming market. The company said the new system goes beyond a visual refresh, aiming to better reflect how technology brands “think, move, and evolve.”
According to GR8_TECH, the identity uses a coding-inspired visual language, modular design principles, and a motion-first approach intended to work consistently across products, platforms, and future subbrands.
“This was never about changing the brand for the sake of change. GR8_TECH already had strong recognition and character,” said Iryna Ilchanka, Creative Lead at GR8_TECH. “Our goal was to sharpen it, to create a system that feels more future-ready and aligned with the level of technology and ambition behind the company.”
GR8_TECH said it approached the redesign as an evolving framework rather than a fixed brand guideline. “We didn’t want to create a static brand book. Rather, we wanted to build a living framework that can continuously evolve together with the business,” Ilchanka added.
The company framed the update as part of its broader positioning around “championship,” describing the brand direction as focused on discipline, technology, and continuous evolution.
The post GR8_TECH rolls out a new brand identity built for digital-first iGaming appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Brazil
TaDa Gaming to showcase its solutions at Peru Gaming Show 2026
The company team invites visitors to explore its glocalization capabilities and growth potential as a strategic partner of TaDa Gaming at PGS in Lima.
TaDa Gaming has announced its participation in Peru Gaming Show 2026, one of the most influential B2B gaming exhibitions in Latin America. The event will take place at the Jockey Exhibition Centre in Lima, Peru, on June 17–18, bringing together an estimated 8,000 delegates and 80 exhibitors under one roof.
Driven by its success in Brazil and its goal of further expanding its presence across Latin America, Stand 52 will be the space where TaDa Gaming will showcase its award-winning gamification tools and Crash games, its exclusive fish-shooting titles, and its high-performance slots.
Supported by TaDa Gaming’s expert glocalization strategy, which combines global mechanics with localized content, its top-performing slots in the region include the Fortune Gems and Lucky series.
The “Fortune Gems” games are currently among TaDa Gaming’s best-performing slots in Latin America and include the company’s first co-created celebrity title: “Fortune Yuri 500”, developed in collaboration with renowned Brazilian streamer and influencer Yuri Brida.
Meanwhile, the “Lucky” series was designed specifically for Latin American players. All titles benefit from TaDa Gaming’s localization expertise and know-how, ensuring experiences aligned with target audiences in terms of themes, cultural relevance, and bonus preferences.
Access to high-growth and regulated markets across the region is supported by TaDa Gaming’s extensive portfolio of global licenses and certifications.
This provides the supplier with a competitive advantage in delivering future-ready gaming experiences and has led to major partnership agreements with key industry players, including the international full-service iGaming content and technology provider Bragg Gaming Group.
The TaDa Gaming team will also be available to share data-driven performance insights across key Latin American markets, as well as flexible partnership models that position the company as a strategic value partner.
Ray Lee, Business Development Director at TaDa Gaming, commented: “Latin America as a whole is a key strategic market for TaDa Gaming, and Peru in particular is also highly important. Events like PGS allow us to connect directly with the stakeholders shaping the future of the industry.
We invite everyone to visit us at Stand 52 to discuss partnership development and learn more about emerging regulatory and technological trends in Peru.”
TaDa Gaming’s presence at PGS reaffirms the company’s commitment to expanding in regulated markets and strengthening partnerships across Latin America.
The post TaDa Gaming to showcase its solutions at Peru Gaming Show 2026 appeared first on Americas iGaming & Sports Betting News.
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