Latest News
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.
Here are this weeks latest slots releases compiled by European Gaming
ELA Games, announced the release of its conceptually new game “Joker Cashpot”. The new slot game aims to attract players with its exciting mechanics, a balance of strategy and randomness and traditional colourful design by the studio’s artists. Joker Cashpot is a rare example of a creatively modified slot where the player can accumulate and multiply rewards.
Yggdrasil has partnered with ReelPlay to offer up to 10,000 ways to win in feature-filled dystopian release Armageddon 10K WAYS™. The cascading slot transports players into a hellish oblivion where spinning the reels can stave off otherworldly invaders and rack up prizes by way of Bonus Respins, 10K Ways and four local jackpots. The Bonus Respins feature is triggered whenever players land six or more scatter symbols anywhere on the reels.
Habanero brings fairytale magic to its latest slot Waltz Beauty, where mystery symbols and multiplier rewards await players. Set on a 6×4 grid, the game sets the scene with an enchanted palace where a host of princesses populate the board as its symbols which must form matching combinations across 25 paylines.
Booming Games is proud to announce that its highly-anticipated title, Ronaldinho Spins, is now available to players worldwide. Ronaldinho Spins is the first slot game ever created featuring the image of international football superstar Ronaldinho Gaucho. After months of development and refinement, the slot is now set to deliver entertainment and joy with its stunning visuals and exciting features.
Amusnet brings you a fruity delight with its new classical video slot. The 5-reel 10 fixed paylines game offers colourful and yummy-looking gameplay. Packed with fruity symbols, sizzling design and captivating sound effects, 10 Power Hope promises a thrilling gameplay experience filled with fiery wins.
Thunderkick has released the newest addition to its expanding collection, Sword of Arthur, taking players on a journey to King Arthur’s Ancient Briton. King Arthur himself features as the game’s highest-paying symbol, followed by his armour and shield, while the low-paying icons are represented by fantasy-style playing card symbols. The legendary sword of Arthur takes centre stage as the Wild and Scatter, helping to form wins and trigger the Bonus Game.
With the cream of European football preparing to showcase their skills on the grass at Euro 2024 in Germany starting this week, Apparat Gaming icon, Jack Potter, has set out on a mission to spread the beautiful game to ancient Egypt in the quirky new adventure, Jack Potter and The Book of Football.
Triple Edge Studios, part of Games Global’s exclusive studio network, has launched its latest feature-filled title, Goal Strike Rising Rewards™, kicking off the excitement ahead of a big summer of football. Set within an electrifying football stadium and showcasing five reels with varying rows of 3-4-5-4-3, players spin the slot’s unique reelset that is adorned with football shirts, boots, and whistle symbols for the chance to unlock a variety of innovative multiplier and free spins features and win increasing jackpots via the Rising Rewards™ mechanic.
Not all pigs are happy in mud and that’s certainly the case for the two porkers in the latest slot from Fantasma Games. Gold Pigger is already live with a limited number of operators, and a truly flying start with initial key player KPIs up +100% from an already very successful 2024 game release performance.
PG Soft has released its highly infectious video slot, Zombie Outbreak. The game unfolds within an apocalyptic world where the undead rise on the 5 reels, featuring a layout with 4 rows on reels 1, 3, and 5, and 5 rows on reels 2 and 4. One of the many electrifying features of Zombie Outbreak is the Expanding Wild symbol, which replaces all symbols aside from the Scatter symbol.
The post Week 24/2024 slot games releases appeared first on European Gaming Industry News.
PG Soft, a world-class digital mobile games company, has released its highly infectious video slot, Zombie Outbreak.
The game unfolds within an apocalyptic world where the undead rise on the 5 reels, featuring a layout with 4 rows on reels 1, 3, and 5, and 5 rows on reels 2 and 4.
One of the many electrifying features of Zombie Outbreak is the Expanding Wild symbol, which replaces all symbols aside from the Scatter symbol. These Wild symbols appear exclusively on reels 2 and 4, mutating into Expanding Wild symbols with three multipliers within each symbol.
The multipliers inside the Expanding Wild symbol can range from: x1 x2 x3, x2 x3 x5, x3 x5 x12, x5 x10 x15, or x10 x15 x25. Before winning totals are paid out, the smallest multiplier value from each Expanding Wild symbol is displayed at the foot of the reels. Wins are then multiplied by the collected multiplier value.
The Expanding Wild symbol remains on the reels until the end of the spin or until all three multipliers have been collected.
Players seek out the Free Spins Feature, which is triggered with three hazardous Scatter symbols appearing on screen. Once entering Free Spins, any collected multipliers stay active until the feature’s conclusion. Players have the chance to retrigger free spins. For those hungry to enhance chances of a win, the Feature Buy button offers a direct route into the Free Spins feature.
PG Soft’s spokesperson commented: “The news of Zombie Outbreak’s release will spread fast and we expect a feeding frenzy from players thanks to its stunning gameplay. It is designed to provide an exhilarating experience with its clever features and opportunities for big wins.”
The post PG Soft launches infectious Zombie Outbreak title appeared first on European Gaming Industry News.
Latest News
SBC Summit Tbilisi 2024: The iGaming and Sports Betting Event where Eastern Europe Meets Central Asia
The SBC Summit Tbilisi 2024 is set to bring together the key players in the iGaming and sports betting industries from June 25-26, 2024, at the Sheraton Grand Tbilisi Metechi Palace, Georgia. Organized by SBC Events in collaboration with Sports Media Holding, this event promises to be a pivotal gathering for professionals targeting the burgeoning markets of Eastern Europe and Central Asia.
A Gateway to Eastern Europe and Central Asia
The second edition of the SBC Summit Tbilisi is designed to offer unparalleled insights into the high-potential markets of the Black Sea, Eastern Europe, and Central Asia. This premier conference is a must-attend for those looking to expand their business into complex and diverse regions such as Georgia, Romania, Serbia, Bulgaria, Kazakhstan, and Slovenia. The event provides a unique platform to understand the local regulatory landscapes, cultural nuances, and market opportunities.
Comprehensive Conference Agenda
The SBC Summit Tbilisi 2024 will feature a rich conference agenda that brings together C-Level executives and industry experts to discuss a wide range of topics. Attendees can expect to gain valuable knowledge on:
- iGaming trends and innovations
- Emerging market opportunities
- Regulatory updates and compliance strategies
- Outsourcing and business relocation opportunities
Who Will Be There?
The summit is expected to attract over 1,500 delegates, including 600 operators, 150 affiliates, 60+ speakers, and 30 exhibitors. This diverse gathering offers a fantastic opportunity to network with key decision-makers, generate leads, and forge meaningful partnerships.
Networking Opportunities
SBC Events are renowned for their exceptional networking experiences, and the Tbilisi Summit will be no exception. From the moment attendees step into the venue, they will be treated to an all-inclusive networking environment. Designated areas on the show floor will provide hot refreshments, breakfast, and lunch, along with various bars offering favorite drinks throughout the venue.
Evening networking events will take place in some of Tbilisi’s most upscale locations, providing a relaxed and enjoyable atmosphere to continue business discussions and build new connections.
Special Features
- Keynote Speaker: Chris Bird, CEO of The Raheem Sterling Foundation and former COO of Manchester City, will share his insights and experiences, adding significant value to the event’s agenda.
- VIP Networking: Attendees can look forward to an exclusive VIP networking experience, ensuring they can connect with the most influential figures in the industry.
- Held in Collaboration with Sports Media Holding: As a leading service aggregator in the EE&CIS region, SMH Global brings a wealth of expertise and networking opportunities to the event.
Why Attend?
The SBC Summit Tbilisi 2024 offers an unmatched opportunity to gain a foothold in the promising markets of Eastern Europe and Central Asia. With a comprehensive agenda, top-tier speakers, and exclusive networking events, this summit is the ideal platform for industry professionals to learn, connect, and grow their businesses.
For more information and to register, visit the SBC Summit Tbilisi website.
The post SBC Summit Tbilisi 2024: The iGaming and Sports Betting Event where Eastern Europe Meets Central Asia appeared first on European Gaming Industry News.
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