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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.

Arizona Lottery

Scientific Games rolls out Momentum systems upgrade for Arizona Lottery

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New central gaming and retailer management systems support expanded draw game features across the Lottery’s 3,600 retail locations.

Scientific Games said a new suite of systems technology is now powering the Arizona Lottery’s statewide sales, including updates to its draw games portfolio. The rollout is based on Scientific Games’ Momentum ecosystem, incorporating a central gaming system and a retailer management system.

Arizona Lottery Executive Director Alec Thomson said the technology and game changes are intended to modernize operations and refresh the draw game lineup. “Our teams have been working hard behind the scenes with the Scientific Games teams, and we are thrilled to see this project come to life. The changes to our draw games will give our players bigger value, more ways to play and even more chances to win,” Thomson said. “Ultimately, the advanced technology ecosystem modernizes our operations and positions the Arizona Lottery for future growth.”

The Lottery’s draw game changes include an update to The Pick featuring an automatic multiplier on every play and an add-on called The Pick PLUS, the addition of a daily midday drawing for Pick 3, the launch of a new Pick 4 game with midday and evening drawings, and the addition of Powerball Double Play.

Scientific Games said it also upgraded its gem | suite software to support the expanded draw portfolio and to manage retailer licensing, communications and business intelligence across the Arizona Lottery’s network of 3,600 retailers. “As the Arizona Lottery’s systems technology partner since 2015, Scientific Games is focused on readying the Lottery for long-term sustainability through advanced systems and software, and exciting new products that engage players and drive proceeds to the good cause programs that benefit Arizonans,” said John Schulz, President, Americas & Global Instant Products.

Scientific Games has supplied products and services to the Arizona Lottery for 45 years, including Scratchers games and licensed brands, and supports the Lottery from a Phoenix location, according to the company.

The post Scientific Games rolls out Momentum systems upgrade for Arizona Lottery appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

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2026 FIFA World Cup

Flashscore: UK World Cup traffic hits 2.35M users ahead of England vs Norway

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Flashscore says England vs Mexico is its fourth most-watched match globally so far, drawing 17.5M live followers on the app.

Flashscore reported a lift in UK fan engagement ahead of England’s World Cup quarter-final against Norway, citing new usage data from its tournament coverage.

The company said it has recorded 2.35M unique UK users and 387.7M views across its World Cup content so far, spanning live scores, match centres, previews, articles and audio.

Flashscore also pointed to deeper “second-screen” consumption patterns in the UK during the same period, including 1.6M match preview views, 1.23M article views and 147K audio plays.

In global terms, Flashscore said England ranks seventh for team profile opens. England’s Round of 16 match against Mexico at the Azteca Stadium was the fourth-most popular match of the tournament on the app, attracting 17.5M live followers and generating 53.2M views.

On player interest, Flashscore said England captain Harry Kane ranks 20th globally for player profile opens, with 3.9M—just behind Brazil’s Vinicius Junior on 4.0M. Norway striker Erling Haaland is eighth, with 5.7M profile opens.

The post Flashscore: UK World Cup traffic hits 2.35M users ahead of England vs Norway appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

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Amusnet Italy

Amusnet Italy Enters into Partnership with Entain

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Amusnet Italy has launched its premium gaming portfolio on Entain’s prominent online casino brands, bwin and Gioco Digitale, marking a significant step in strengthening its presence within the regulated Italian market.

Through this strategic partnership, local players will gain access to the provider’s premium casino content, known for its exceptional reliability, captivating mechanics and top-tier design. This launch marks the beginning of a phased rollout, with a fully certified portfolio consisting of 174 high-performing titles from Amusnet’s catalogue.

The initial release, which went live on July 1, features the majestic slot Extra Crown Classic Buy Bonus. This royal, fruit-themed game masterfully blends a traditional aesthetic with modern video slot dynamics, featuring expanding Crown Wilds and dual Scatter symbols. It elevates excitement with an innovative Buy Bonus option for instant action alongside Amusnet’s signature 4-level mystery Jackpot Cards bonus game, providing a truly immersive player experience.

“Partnering with premium brands like bwin and Gioco Digitale is a major milestone for our growth in Italy. Launching onto Entain’s platform allows us to reach a wider audience and bring high-quality entertainment to Italian players,” said Polina Nedyalkova, Amusnet Italy Director.

Both bwin and Gioco Digitale are premier online casino brands operating under the global sports betting and gaming giant Entain, utilising a shared platform to deliver secure and cutting-edge gaming experiences. By aligning with these highly trusted brands, Amusnet is well-positioned to leverage their robust market positioning and extensive, loyal user bases to drive long-term engagement and growth.

With this strategic alliance, Amusnet Italy reinforces its commitment to driving growth in the local iGaming market alongside top-tier operators.

The post Amusnet Italy Enters into Partnership with Entain appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

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