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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.
GR8 Tech has been awarded Best Platform Provider 2026 at the SiGMA Eurasia Awards, reaffirming its position as a leading technology partner for casino and sportsbook operators worldwide.
The recognition highlights the company’s ability to deliver a stable, high-performance platform that enables rapid market entry and seamless scalability across regulated and emerging markets.
The award reflects GR8 Tech’s Platform for Champions philosophy—a full-stack iGaming platform engineered for speed, flexibility, and reliability under peak operational loads. Designed to support both casino and sportsbook businesses, the platform allows operators to configure, localize, and scale efficiently while maintaining consistent performance across jurisdictions.
A key driver behind the win is GR8 Tech’s recently launched Crypto Turnkey solution, which combines a comprehensive sportsbook and casino offering with native multi-wallet functionality. This solution enables operators to enter crypto-friendly markets faster, streamline payments, and offer modern betting experiences tailored to evolving player preferences.
Commenting on the achievement, Sergey Ghazaryan, Chief Revenue Officer at GR8 Tech, said:
“Awards are meaningful when they reflect real-world performance. This recognition confirms that operators can rely on our platform when entering new markets and scaling under pressure. The Platform for Champions is built to perform when it matters most, and we’ll continue delivering the competitive advantages our partners need to succeed locally and globally.”
The Best Platform Provider 2026 title follows GR8 Tech’s recent accolade as Best Software Supplier of the Year at the European iGaming Awards, further cementing the company’s reputation as a top-tier iGaming technology provider.
With a focus on rapid integration, smart localization, and long-term scalability, GR8 Tech continues to set new benchmarks for platform performance and innovation in the global iGaming industry. Operators looking to launch faster and scale with confidence can explore GR8 Tech’s award-winning Platform for Champions through personalized demos and consultations.
The post GR8 Tech Named Best Platform Provider 2026 at SiGMA Eurasia Awards appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
brand sponsorship Brazil
Esportes da Sorte Becomes Official Sponsor of Brazil’s Biggest Carnival Celebrations in 2026
Esportes da Sorte, one of Brazil’s leading iGaming brands, has announced a major nationwide sponsorship for Carnival 2026, securing an official presence at the country’s most iconic and culturally significant celebrations.
The initiative marks one of the most extensive Carnival activation projects ever undertaken by a gaming company in Brazil.
For Carnival 2026, Esportes da Sorte will serve as an official sponsor in seven Brazilian capitals: Recife, Salvador, Rio de Janeiro, São Paulo, Belo Horizonte, Natal, and Maceió. In addition, the brand will have a strong presence in Olinda, a city internationally recognized for its cultural heritage, along with targeted activations in Caicó (Rio Grande do Norte), a key production hub for the company’s promotional materials.
This nationwide project reflects Esportes da Sorte’s long-term commitment to Brazilian popular culture and its continued investment in community-based celebrations across multiple regions. The 2026 Carnival strategy has been developed city by city, embracing the diversity of Carnival expressions—from traditional street blocos and electric trios to large-scale urban stages—while adapting visual identity, messaging, and experiences to local traditions and cultural narratives.
Darwin Filho, CEO of Esportes Gaming Brasil, emphasized the cultural importance of the initiative:
“Carnival is part of Brazil’s identity and has always been part of Esportes da Sorte’s journey. Being present at the country’s main Carnival celebrations reinforces our long-term commitment to Brazilian culture, to the cities, and to the people who bring this festival to life in the streets.”
Marcela Campos, Vice President of Esportes Gaming Brasil, highlighted the localized approach behind the project: “Our Carnival strategy was carefully designed for each city, respecting its unique traditions and cultural characteristics. The goal is to create authentic experiences for Carnival-goers and integrate the brand organically into each celebration—whether through blocos, electric trios, or major urban hubs.”
Beyond on-the-ground activations, Esportes da Sorte’s Carnival 2026 campaign includes a comprehensive media and engagement strategy. The initiative will feature coordinated activations across television, radio, out-of-home advertising, and a national public relations campaign before, during, and after Carnival. Content creation and influencer partnerships will further amplify reach, capturing behind-the-scenes moments and authentic Carnival experiences across multiple locations.
Following its presence in more than 100 blocos and street parties during Carnival 2025, Esportes da Sorte is significantly expanding its footprint for 2026. The nationwide sponsorship solidifies the brand’s leadership role at Brazil’s largest cultural event and strengthens its positioning at the intersection of entertainment, culture, and gaming.
The post Esportes da Sorte Becomes Official Sponsor of Brazil’s Biggest Carnival Celebrations in 2026 appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Tuesday 10th February 2026: Leading Brazilian iGaming company Esportes da Sorte will deliver one of the most extensive Carnival activations in the industry for Carnival 2026, with an official presence at the country’s most iconic and emblematic celebrations.
The brand will serve as the official sponsor of festivities in seven Brazilian capitals — Recife, Salvador, Rio de Janeiro, São Paulo, Belo Horizonte, Natal and Maceió — as well as having a strong presence in Olinda, a city of major cultural significance. The national project will also include special activations in Caicó (RN), a key production hub for the brand’s promotional merchandise.
This initiative reflects Esportes da Sorte’s continued investment in Brazilian popular culture, built over several years across different regions of the country. In 2026, this positioning takes shape through a structured national project that embraces the diversity of Carnival formats — from traditional street blocos to electric trios and major urban stages — with visual identity and activations designed city by city, respecting local symbols, aesthetics and narratives.
“Carnival is part of Brazil’s cultural identity and also part of Esportes da Sorte’s journey. Being present at the country’s main Carnival celebrations is a strategic choice that reinforces our long-term commitment to popular culture, to the cities, and to the people who live this festival in the streets,” said Darwin Filho, CEO of Esportes Gaming Brasil.
“Our Carnival project was designed city by city, respecting the unique characteristics and culture of each sponsored location. The idea is to ensure a real presence and unique experiences for Carnival-goers, integrating the brand organically into the rhythm of each celebration. Whether through blocos, trios or major urban hubs, we want to strengthen ourselves as the brand that elevates the connection between culture and entertainment,” said Marcela Campos, Vice President of Esportes Gaming Brasil.
Beyond its on-the-ground presence, Esportes da Sorte’s Carnival 2026 strategy includes an integrated media and engagement approach, featuring activations across TV, radio, out-of-home media and a national PR operation before, during and after the festivities, focused on high-quality coverage and organic content generation.
The project will also include content and influencer engagement initiatives across multiple locations, expanding organic reach while capturing behind-the-scenes moments and Carnival experiences.
In 2025, the brand was present in more than 100 blocos and street parties across different regions of the country. For 2026, Esportes da Sorte is taking things to the next level, consolidating a nationwide project and reinforcing its leadership role in Brazil’s largest popular event.
The post Esportes da Sorte to be official sponsor of Brazil’s leading Carnival celebrations in 2026 appeared first on Americas iGaming & Sports Betting News.
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