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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.
SBC has officially announced the shortlisted nominees for the 12th edition of the SBC Awards, set to take place at Lisbon’s MEO Arena on Thursday, 18 September, the final day of SBC Summit 2025.
Celebrating excellence across the global betting and gaming industry, the ceremony will spotlight standout achievements from operators, industry leaders, and suppliers across a broad spectrum of sectors, including payments, marketing, and platform innovation.
This year’s edition has already broken records, with the highest number of nominations ever received across its 37 diverse categories, reflecting the industry’s growing commitment to delivering exceptional performance.
Leading the shortlist are Pragmatic Play and Sportradar, each earning seven nominations. Close contenders include BetConstruct and Betsson Group with six nominations apiece. Other standout nominees include Bragg Gaming, Campeon Gaming, Novibet, Playtech, and Top Bet, each securing five nominations.
Returning to co-host the ceremony is football legend Peter Schmeichel, former Manchester United goalkeeper and UEFA European Championship winner, who previously brought his trademark charisma to the stage in 2024.
The 2025 edition of the SBC Awards will also mark the first year without dedicated affiliate categories. Instead, SBC will host a dedicated and expanded Affiliate Leaders Awards on Wednesday, 17th September, at the same venue.
Commenting on the upcoming SBC Awards ceremony, Rasmus Sojmark, Founder and CEO of SBC, said: “This industry never stands still. New talent, ideas, and technologies are constantly changing the game. The SBC Awards are our way of recognising those who are making a real impact and giving the community a moment to celebrate together.”
In the operator categories, alongside Betsson Group’s notable six nominations, TotoGaming also stands out with four nominations, including Marketing Campaign of the Year and Innovation in Casino & Gaming Entertainment. Meanwhile, Kaizen Gaming and Campeón Gaming return to defend their titles in the Operator of the Year – Medium and Large categories, respectively.
The hotly contested Casino Operator of the Year category includes names such as LeoVegas, Bally’s, Codere Online, and Winbet. 1xBet, EstrelaBet, and Sportsbet.io are among the frontrunners for Sportsbook Operator of the Year.
In the operator and supplier categories, competition for Employer of the Year includes Alea, Flutter Entertainment, Parimatch, and Play’n GO, all aiming to take the crown from reigning champions SOFTSWISS. The Socially Responsible Initiative of the Year category features nominees such as Associação de Mulheres da Indústria do Gaming (AMIG), BGaming, EveryMatrix, and Pay4Fun.
The highly anticipated Leader of the Year award will be kept under wraps until the night, with nominees and the winner to be revealed live during the ceremony.
In the payments and compliance categories, Noda and payabl. lead the way with nominations in all three awards: Payment Solution of the Year, Payment Innovation of the Year, and Fraud & Compliance Solution of the Year. MiFinity, Monnet Payments, OKTO, Pay4Fun, Paysecure, and Trustly have also earned multiple nods across the categories.
The supplier categories, which will span 22 awards, will include several new additions this year, such as Aggregator of the Year and Crash Game of the Year.
Fast Track and BETBY will look to retain their titles in Acquisition & Retention Partner and Esports Supplier of the Year, respectively. Meanwhile, Delasport, Evolution, Evoplay, iGP, Optimove, and Spotlight Sports Group are among the fifteen companies competing for the Industry Innovation of the Year award.
Soft2Bet will return in pursuit of back-to-back wins for Innovation in Casino Entertainment and Innovation in Mobile, while Digitain will aim to defend its title as Sportsbook Supplier of the Year.
The sought-after Platform Provider of the Year award features a strong field of contenders, including EGT Digital, GiG, GR8 Tech, Sportingtech, and White Hat Gaming.
Continuing SBC’s commitment to shining a light on the future stars of the industry, the evening will once again feature four ‘Rising Star‘ awards: Rising Star in Casino, Rising Star in Sports Betting, Rising Star in Sports Betting Innovation / Software, and Rising Star in Casino Innovation / Software.
The post Peter Schmeichel Returns as SBC Awards 2025 Host as Finalists Are Announced appeared first on European Gaming Industry News.
When it comes to online casino play, and indeed online gaming in general, there is no such thing as inertia. In fact, things change all the time as technology advances and consumers become ever more demanding and expectant.
The online gambling industry continues to evolve rapidly, driven by technological advancements, changing norms, and shifting player preferences. With a global industry such as this, leading rather than following can be worth millions.
In 2025, online casinos and slot games are more innovative and accessible than ever before. This article explores the latest industry trends, recent news, and what players and operators can expect in this dynamic landscape.
Of the many evolutions, the ability to play both non-paying games and real money options has been hugely significant. This creates a much larger demographic, or pool of potential players – both those who play for fun and those who wish to place wagers and play against other enthusiasts.
The online casino real money USA market, for example, has grown exponentially, as has the overall number of consumers now accessing online casino sites both here and around the world. Put another way, the online casino real money markets have taken an already multi-billion dollar industry to another fiscal level, and for players, the range of options and choices can only be trending in their favor.
Rapid Technological Advancements Fuel Innovation
One of the most significant drivers of change in the online casino sector is technology. Artificial intelligence (AI) and blockchain are transforming the way players experience and engage with casino games.
Artificial Intelligence Enhances User Experience
AI-powered personalization is now standard in many online platforms. Casinos utilize AI algorithms to analyze player behavior, providing tailored game recommendations and customized promotions.
This not only increases engagement but also improves player retention.
Blockchain and Cryptocurrencies Boost Security and Transparency
Blockchain’s decentralized nature enhances transaction security and transparency.
Several operators now accept cryptocurrencies like Bitcoin, Ethereum, and emerging altcoins, allowing for faster deposits and withdrawals with reduced fees. This shift caters to a growing demographic seeking privacy and efficiency.
Industry News: Global Market Expansion Continues for Online Casino Companies
Asia-Pacific: Growth and Gaming
The Asia-Pacific region shows promising growth, especially in countries like Japan and South Korea. With such large populations, this potential player pool can only be positive for the online casino creating community, and for the players themselves.
Continued Rise of Mobile Gaming
Mobile continues to dominate the online casino playing scene.
With high-quality apps and optimized websites, players can access their favorite slots anywhere, anytime. Again, the almost limitless number of online casino choices is helping drive this growth.
As well as this, and as the online gaming stats attest, we’ve seen massively increased accessibility thanks to so many game-friendly devices hitting the market. In such circumstances, it is hard to see how this growth could not continue.
2025 Mobile Slot Innovations
Recent releases feature multi-screen gameplay, augmented reality (AR) integration, and 5G connectivity, leading to faster load times and seamless experiences. The convenience has driven increased engagement among younger audiences in particular.
Growing Popularity of Live Dealer Games
Live dealer games bridge the gap between online play and land-based casinos. High-quality streams, real-time interaction, and professional dealers make this sector one of the fastest-growing.
Online Gaming Creating Coherent Communities
Such is the growth of the online casino and overall game-playing arena that an increasing number of global, as well as local, online gaming communities are starting to emerge.
From playing to offering tips, or even just sharing comments during the game itself, millions now use the online casino as a way to forge new friendships, creating an online gaming culture all of their own. These games appeal to players seeking both thrill and social interaction, and we’re seeing the birth of forums, chat sites, and all things game and online casino-related as a result.
Looking at the creation of online casino communities shows that this is so much more than just a casual pastime for millions; it is a cultural activity that transcends age, demographics, and geography. Indeed, some people take online casino gameplay very seriously, and that’s not a bad thing…
@slotslv Just two legends, one jackpot in sight
Future Outlook: What’s Next for Online Casinos and Slots?
Looking ahead, several developments are set to shape the industry further:
- Integration of AI and Big Data: Personalized gaming experiences will become more sophisticated.
- Continued Adoption of Blockchain: Cryptocurrencies will facilitate cross-border transactions and global accessibility.
- Enhanced Player Security: Biometric authentication and anti-fraud measures will improve safety.
Conclusion
The online casino and slots industry in 2025 and beyond is likely to be driven and marked by innovation, growth, accessibility, and even inclusivity. As technology continues to advance and markets expand, both players and operators must stay informed about the latest trends and best practices.
Embracing these changes will ensure a safe, engaging, and enjoyable gaming experience for all.
Put another way, the online casino landscape looks hugely positive for all involved. From developers to creators, players to proprietors, the online casino world looks to be growing and gathering even more pace, and I’d bet on that continuing.
The post Future of Online Casinos and Slots: Navigating Industry Trends in 2025 appeared first on Gaming and Gambling Industry in the Americas.
GR8 Tech is accelerating its presence in the MENA region with a focused growth strategy and the strategic appointment of Sarkis Basmajian as Regional Sales Director.
As one of the fastest-growing iGaming regions, MENA presents immense potential, especially where demand for agile, tailored platforms quickly overtakes legacy solutions. With its Heavyweight tech and deep geo-specific expertise, GR8 Tech is ideally positioned to lead this evolution.
With nearly a decade of experience leading sales and key account operations in iGaming, Sarkis brings deep regional insight and proven commercial leadership across Tier-2 markets. He will spearhead GR8 Tech’s growth by forging strong partnerships and delivering locally relevant, high-impact solutions from day one.
“What excites me most about joining GR8 Tech is the clarity of vision. We’re building the infrastructure for the next era of iGaming. MENA is evolving fast, and operators here need more than localization. They need strategy, speed, and serious tech muscle. That’s exactly what we’re bringing to the table,” said Sarkis Basmajian.
GR8 Tech’s platform is already renowned for its geo-specific presets, from language and currency to payment integrations and performance optimizations, that adapt perfectly to diverse markets. Whether optimizing for low-bandwidth Africa or football-passionate Latin America, GR8 Tech’s sportsbook DNA and flexibility make it a natural fit for MENA’s market.
“Our goal is simple: expand smart, launch fast, and deliver Heavyweight performance wherever we go,” said Yevhen Krazahan, CSO at GR8 Tech. “With Sarkis leading our regional efforts, we’re set to unlock our platform’s massive potential across the Middle East and North Africa.”
The strategic hire marks the next milestone in GR8 Tech’s mission to power iGaming growth across various markets with Heavyweight infrastructure, local-first execution, and proven regional expertise.
The post GR8 Tech Appoints Sarkis Basmajian to Lead MENA Regional Growth appeared first on European Gaming Industry News.
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