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SharpLink Gaming Announces Second Quarter 2024 Financial Results

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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.

Caesars Digital

RubyPlay partners with Caesars Entertainment in Ontario to advance North American expansion

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RubyPlay, a studio-based content ecosystem, is further strengthening its presence in Ontario as part of its broader North American growth strategy with a new partnership with Caesars Entertainment.

The partnership will see a curated selection of RubyPlay’s fan-favourite titles, including JMania® Lucky Pyggs, Mad Hit® Mr Coin and Diamond Explosion® 7s SE, made available on Caesars Entertainment’s online casino platforms including Caesars Palace Online Casino, Caesars Sportsbook & Casino and Horseshoe Online Casino.

This partnership is also set to expand in the near future with the addition of content from Koala Games, one of RubyPlay’s most popular titles. The launch with Caesars represents a significant milestone for RubyPlay in Ontario, building on its momentum following its initial entry into the province early last year, where its portfolio of high-performance games has already gained traction with top-tier operators.

Partnering with Caesars Digital underscores RubyPlay’s growing influence and reputation within a key global territory, as well as the strength of its multi-studio platform, which is designed to bring tailored content to regulated markets worldwide. The partnership also forms part of a broader collaboration, with potential to expand into additional North American markets.

Dima Reiderman, CCO at RubyPlay, said: “By launching with one of the most trusted names in gaming, we’re not only expanding our footprint in Ontario but also demonstrating the value of our multi-studio model.”

“Launching with Caesars in Ontario allows us to further scale our content offering within a highly competitive regulated market. Our approach is to deliver high-performing titles that align with each operator’s needs, combining the flexibility required for local markets with the consistency needed to scale, while ensuring efficient rollout and strong market relevance.”

Ricardo Cornejo Rivas, Vice President of Online Gaming at Caesars Digital, added: “We’re committed to partnering with brands that bring high-quality, differentiated content to our players.

“RubyPlay provides exactly that with its steady pipeline of tailored, high‑performance titles and we’re looking forward to introducing their games to our online casino customers in Ontario and enhancing our content offering in the province.”

The post RubyPlay partners with Caesars Entertainment in Ontario to advance North American expansion appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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Evoplay

Evoplay spins back time with vibrant new release Jackmaster Fruits

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Evoplay, the award-winning game development studio, is reinventing a classic with the launch of Jackmaster Fruits, a high-energy title that blends vintage design with modern rewards.

Inspired by traditional fruit machines, Jackmaster Fruits delivers a nostalgic experience, featuring bright fruit symbols, iconic BARs, lucky horseshoes, ringing bells, Jokers and the legendary red 7.

While rooted in tradition, the title introduces a suite of new engaging features to elevate gameplay. Wild symbols substitute for all other icons, helping to complete winning combinations, while Scatter symbols can land anywhere on the reels to trigger further rewarding opportunities.

Landing three or more Scatters in the main game activates the Free Spins bonus, and any additional scatters that land during the feature can subsequently trigger the Extra Free Spins.

For those looking to jump straight into the round, a Bonus Buy option offers the chance to instantly trigger Free Spins, with players in selected markets able to choose between 10, 20 or 30 spins.

With a top Epic prize of up to 100x the bet, Jackmaster Fruits delivers strong retention and exciting win potential in every session.

Using bold visuals and mechanics throughout, Evoplay’s latest standout release delivers a fresh take on a beloved classic, appealing to both traditional slot enthusiasts and modern players.

 

Ivan Kravchuk, CEO at Evoplay, said: “When designing Jackmaster Fruits, we wanted to capture the timeless appeal of traditional slot machines while enhancing the experience with modern features and mechanics.

“The result is a game that feels instantly familiar but still just as exciting at every turn, combining simple gameplay with strong win potential. It’s a perfect example of how we continue to evolve classic concepts for today’s players.”

The post Evoplay spins back time with vibrant new release Jackmaster Fruits appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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David Reynolds

Games Global and PearFiction Studios serve up bold flavours in Noodle Riches™ Loot Collect™

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Games Global, together with exclusive studio partner PearFiction Studios, has launched Noodle Riches™ Loot Collect™, a character-driven slot combining refined visuals with high-performing mechanics and maximum win potential of 25,000x.

Set in a lively noodle bar, the 5×4, 25-payline slot follows the world of ramen-loving pandas and a playful master-chef cat, with gameplay shaped around evolving features and varied rewards designed to sustain engagement.

At the core is the Loot Collect™ feature, where collect symbols landing on reels one and five gather values and modifiers from across the reels, including cash prizes, multipliers, boosters and additional Free Spins, bringing multiple elements together on each spin.

The NoodleTastic Zone adds further depth, activated when specific symbols are collected during Free Spins. Once activated, the zone applies multipliers to cash values that land within, increasing the value of collected rewards.

Additional engagement comes via the Catchinko Bonus, which can award instant cash and jackpot prizes, or combinations of Free Spins modes. Fixed jackpots include Mini, Minor, Major, Grand, and Epic.

Four distinct Free Spins modes expand the experience, activated by collecting pot symbols linked to each respective mode. No Low Free spins removes lower-value symbols, Cascade introduces consecutive win opportunities, Jumbo enhances symbol coverage across reels, and Expand increases the layout to 5×8 with 50 paylines. These modes can appear individually or in combination, delivering further variety to gameplay.

Combining a distinctive theme with a strong mix of proven mechanics, Noodle Riches™ Loot Collect™ delivers a feature-rich addition to Games Global’s growing portfolio.

 

Jeremy Coleman, Commercial Director at PearFiction Studios, said: “Noodle Riches™ Loot Collect™ focuses on combining multiple feature types into one cohesive experience. From collect mechanics to varied Free Spins modes, the goal was to build a game with a clear identity that carries through every part of the experience, from the characters to the pacing.”

 

David Reynolds, Director of Games Strategy and Partner Management at Games Global, said: “PearFiction Studios’ Noodle Riches™ Loot Collect™ combines a distinctive theme with a rich, well-executed feature set, creating a highly engaging and immersive player experience — and a strong addition to our portfolio.”

The post Games Global and PearFiction Studios serve up bold flavours in Noodle Riches™ Loot Collect™ appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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