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SharpLink Gaming Announces Second Quarter 2024 Financial Results

Published

2 years ago

August 15, 2024

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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 financial results for the three and six months ended June 30, 2024.

Rob Phythian, Chairman and CEO of SharpLink, stated, “The first half of 2024 has largely been marked by our Company’s efforts to materially strengthen our balance sheet, and narrow our focus on our performance-based marketing business through several strategic initiatives, namely:

The sale of our SportsHub Games Network and sports games development businesses in January of this year for $22.5 million in an all-cash transaction;
The extinguishment of all interest-bearing debt;
The raising of $71,356 from our At-the-Market Offering during the first six months of this year; and
The receipt of $297,387 in an earn-out accrued in June 2024 and paid in July 2024, which related to our sale of MTS, SharpLink’s legacy telemanagement solutions business sold to EntryPoint South Ltd. in December 2022.”

Continuing, Phythian said, “As a result, SharpLink has emerged with a very lean operating base that is free of debt, and we have a management team and Board of Directors equally committed to pursuing strategic growth opportunities capable of increasing shareholder value over the long-term.”

Financial Highlights

Revenues for the three and six months ended June 30, 2024 totaled $981,272 and $1,957,218, respectively – a 27% and 24% decline from revenues of $1,343,526 and $2,576,287 reported for the comparable three and six month periods in 2023, respectively.

Operating expenses decreased 31% to $1,484,680 from $2,136,936 for the comparable three-month reporting periods; and declined 17% to $3,456,755 from $4,182,270 for the six months ended June 30, 2024 and 2023, respectively.

After factoring net income from discontinued operations of $453,705, net losses dropped to $462,959 for the three months ended June 30, 2024 from net losses of $3,441,158 after factoring net losses from discontinued operations of $1,035,099 for the same three-month period in 2023. For the six months ended June 30, 2024, net income totaled $11,887,397 after factoring net income from discontinued operations of $14,564,872 – significantly up from a net loss of $6,264,904 inclusive of the net loss from discontinued operations of $1,701,662 posted for the same six month period in the prior year.
As of June 30, 2024, cash on hand was $2,435,600 and total stockholders’ equity was $2,760,915. This compared to $2,487,481 cash on hand and total stockholders’ deficit of $9,399,769 as of December 31, 2023.

Related Topics:latest-news Press Releases SharpLink Gaming

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Scientific Games completes systems conversion for New Mexico Lottery

Published

45 minutes ago

May 13, 2026

Wladimir P.

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Modernization adds Momentum ecosystem tools and rolls out new terminals and self-service machines to 1,000+ retailers statewide.

Scientific Games has completed a technology systems conversion for the New Mexico Lottery, modernizing lottery operations with a new gaming system and rolling out retail technology to more than 1,000 locations across the state. The update went live May 11, 2026, according to the company.

Scientific Games said the new system now powers the Lottery’s draw-based and Scratchers’ sales and is designed to simplify product management for retailers. The conversion also includes the launch of the Scientific Games Enhanced Partnership (SGEP) instant game management program, which the company said combines analytics, logistics, retail optimization and product strategy.

“The New Mexico Lottery is officially live with new, modern technology systems that work together to enhance all aspects of our operations and ensure we are well-positioned for our next era of growth,” said David Barden, CEO of the New Mexico Lottery. “We’ve strategically planned every step of this holistic modernization effort with Scientific Games to intelligently operate our retail network, making our Scratchers games easier for retailers to manage in their stores and easily accessible to our valued players.”

Scientific Games said the conversion was developed over the past year and is built on its Momentum ecosystem. Components cited include an advanced central gaming system, the SciTrak instant game distribution system, the gem | intelligence retailer licensing and management portal and the INFUSE business intelligence platform. The company said WAVE clerk-operated terminals and PlayCentral self-service machines will be deployed to retailers in planned phases.

“Congratulations to the New Mexico Lottery for building upon our long-standing instant scratch game partnership, embracing innovation for the future,” said John Schulz, President of Americas & Global Instant Products for Scientific Games. “We are proud to serve as the Lottery’s full-line partner and help drive maximum proceeds for New Mexico college students.”

The post Scientific Games completes systems conversion for New Mexico Lottery appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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Plaza Hotel & Casino brings back free Friday fireworks June 5 to Sept. 4

Published

45 minutes ago

May 13, 2026

Wladimir P.

plaza-hotel-&-casino-brings-back-free-friday-fireworks-june-5-to-sept.-4

Downtown Las Vegas show runs weekly at 9:10 p.m., with rooftop viewing options and planned Main Street traffic closures during launches.

Plaza Hotel & Casino will again stage its “Welcome to the Weekend” fireworks series in downtown Las Vegas every Friday night from June 5 to Sept. 4, launching at 9:10 p.m., according to the property.

The hotel said the free show is returning for a third consecutive year, with fireworks shot from the Plaza’s towers and visible across downtown and beyond. The Plaza also plans to close a portion of Main Street in front of the property to vehicle traffic during the shows to create pedestrian-only viewing access.

The Plaza will pair the fireworks with a rooftop pool party starting at 7 p.m., featuring food from the Plaza’s food truck and drinks from the rooftop pool bar. “Each year, the crowds only grow bigger for our free Welcome to the Weekend Summer Friday Fireworks Shows,” said Jonathan Jossel, CEO of the Plaza Hotel & Casino. “Our Friday fireworks have become an iconic part of summertime in Las Vegas that people look forward to. So, we are excited to bring the summer fireworks shows back again, for the third year, as a free and memorable experience for the whole community – visitors and residents alike.”

Each show will be initiated by a designated “TNT Ignitor,” which the Plaza said may include “a community leader, hotel guest, local hero, or social influencer.” The property is also selling a “TNT Ignitor VIP Experience” and a “Welcome to the Weekend VIP hotel package,” which include access and hospitality components tied to the rooftop viewing party.

The Plaza said the fireworks are weather-dependent and may be changed or cancelled, with updates posted to its social media channels including Facebook, Instagram and Twitter.

The post Plaza Hotel & Casino brings back free Friday fireworks June 5 to Sept. 4 appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

Latest News

Scientific Games’ Systems Technology Creates Momentum for New Mexico Lottery’s Next Era of Growth

Published

45 minutes ago

May 13, 2026

GamingAmericas.com

scientific-games’-systems-technology-creates-momentum-for-new-mexico-lottery’s-next-era-of-growth

Company Delivers Successful Systems Conversion Featuring Instant Game Management Program and Advanced Retail Technology

Scientific Games and the New Mexico Lottery have modernized the Lottery’s operations, setting the stage for future growth with a new, advanced gaming system and a comprehensive suite of innovative technologies rolling out at 1,000+ retailers across the state. The integrated tech conversion also includes the launch of the Scientific Games Enhanced Partnership instant game management program—bringing together analytics, logistics, retail optimization and product strategy to drive game performance and maximize proceeds to education in the state.

The company’s new gaming system is now powering the New Mexico Lottery’s draw-based and Scratchers’ sales, simplifying lottery product management for retailers and enhancing convenience to players. The full-line technology solution also delivers precision analytics to help optimize sales performance and generate maximum revenues to benefit college scholarship funding for students in-state.

In development over the past year, the successful conversion features Scientific Games’ Momentum ecosystem, anchored by an advanced central gaming system, patented SciTrak instant game distribution system, gem | intelligence retailer licensing and management portal and INFUSE business intelligence platform. Scientific Games’ WAVE clerk-operated terminals and PlayCentral self-service machines are being deployed in planned phases at New Mexico Lottery retailers.

“Congratulations to the New Mexico Lottery for building upon our long-standing instant scratch game partnership, embracing innovation for the future,” said John Schulz, President of Americas & Global Instant Products for Scientific Games. “We are proud to serve as the Lottery’s full-line partner and help drive maximum proceeds for New Mexico college students.”

The company provides services and expertise from its location in Albuquerque, including the SGEP instant game portfolio management program featuring game planning services, data analytics, advanced logistics, licensed brand services, and retail sales and marketing support.

Serving 150 lotteries in 50 countries, Scientific Games is the world’s largest lottery games company, fastest growing lottery systems provider and a leading provider of digital lottery solutions. The company is one of the first lottery companies globally certified by the World Lottery Association as a Responsible Gaming Supplier.

Scratchers is a trademark of the New Mexico Lottery Authority.