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SharpLink Gaming Announces Second Quarter 2024 Financial Results
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.
Canada
CasinoCanada announces partnership with Slota Casino
CasinoCanada.com has entered into a partnership with Slota Casino aimed at increasing the platform’s visibility and directing traffic from non-regulated Canadian markets.
As part of the collaboration, CasinoCanada will prepare and publish informational materials describing Slota Casino’s features and game offerings.
The partnership includes ongoing content development, efforts to increase platform visibility and user acquisition activities across CasinoCanada’s media channels.
CasinoCanada is an online casino guide focused on the Canadian market, operated by SEOBROTHERS.
Eugene Ravdin, Head of PR at SEOBROTHERS, commented:
“We focus on delivering accurate information about the Slota Casino platform while maintaining consistent content updates and supporting steady traffic growth across our channels.”
Slota Casino was launched in 2024 by GBL Solutions N.V. under a Curacao licence.
Slota Casino is operated by the Slota Partners affiliate program.
The platform provides access to more than 12,000 online casino games from 130 providers, including Play’n GO, Endorphina and Games Global.
A representative of Slota Casino said:
“We’re genuinely excited about teaming up with CasinoCanada. This is a major step forward for us.
The Canadian market has enormous potential, and partnering with a portal as respected as CasinoCanada gives our brand the visibility and credibility it deserves in this region.”
The post CasinoCanada announces partnership with Slota Casino appeared first on Americas iGaming & Sports Betting News.
Brazil
Esportes da Sorte has renewed its official sponsorship of the Parintins Folklore Festival for the 2026 edition
Esportes da Sorte has renewed its official sponsorship of the Parintins Folklore Festival for the 2026 edition.
The brand reinforces its strategy of promoting Brazilian culture after fostering an exchange between the North and Northeast regions during the Pernambuco Carnival.
Esportes da Sorte announced the renewal of its official sponsorship of the Parintins Folklore Festival for the 2026 edition.
Scheduled to take place from June 26 to 28, the event is part of the brand’s strategy to strengthen Brazilian cultural expressions and support the regional creative economy.
The continuation of the partnership follows a cycle of cultural integration promoted by the company over the past year.
In 2026, the group brought artistic references from the Parintins Festival to Recife Carnival by inviting Amazonian visual artist Iran Martins to design the brand’s parade float at Galo da Madrugada.
The project incorporated movement mechanisms and aesthetic elements inspired by the “bumbás” universe into the visual language of frevo.
Beyond brand exposure, the investment in Parintins is part of a positioning strategy focused on valuing Brazilian cultural identity and strengthening initiatives with strong regional ties.
“Our presence in Parintins goes beyond a branding action. It is a commitment to valuing Brazilian culture and the professionals who drive this creative ecosystem.
By bringing together references from the Parintins Festival and Recife Carnival, we show how different cultural expressions in the country can dialogue and create new connections.
We want to continue expanding this impact and contribute to keeping the bumbá tradition strong,” said Marcela Campos, Vice President of Grupo Esportes Gaming Brasil, owner of Esportes da Sorte.
Economic growth and new Bumbódromo
The Parintins Festival 2026 is expected to generate around R$193.2 million, a projected 5% increase compared to the previous edition. The forecast also includes approximately 30,000 direct and indirect jobs, as well as the arrival of around 126,000 tourists.
The audience will be welcomed in the new Bumbódromo, a structure with capacity for up to 25,000 people per day, which will become part of the festival’s expansion in the coming years.
Esportes da Sorte
Esportes da Sorte is one of Brazil’s leading sports betting platforms, with 100% national operations and a license granted by the Ministry of Finance (SPA/MF) to Esportes Gaming Brasil — the group that also owns the Onabet and Lottu brands.
The company is part of a Great Place to Work certified group and generates around 1,000 direct and indirect jobs. Its pillars include innovation, commitment to responsible gaming, and support for sector regulation.
It maintains strategic partnerships with institutions such as ANJL, IBIA, Sportradar, EBAC, and IAA, strengthening control practices, problem gambling prevention, and user protection.
In addition to sports betting, Esportes da Sorte invests consistently in sports, culture, and social projects. It is a master sponsor of clubs such as Corinthians, Ceará, Ferroviária, and Náutico, as well as supporting major cultural events like Galo da Madrugada, Carnival celebrations in cities such as Recife, Olinda, Salvador, Maceió, Natal, Caicó, Belo Horizonte, Rio de Janeiro, and São Paulo, and the Parintins Festival. The brand also expands its digital presence through creative campaigns and influencer partnerships, strengthening its connection with audiences across online platforms.
The post Esportes da Sorte has renewed its official sponsorship of the Parintins Folklore Festival for the 2026 edition appeared first on Americas iGaming & Sports Betting News.
Canada
Digicode to showcase Diger Suite at SBC Summit Canada 2026
Digicode will showcase its Diger Suite at SBC Summit Canada, taking place in Toronto from May 19–21, 2026.
At the event, the company will highlight how its product suite addresses evolving technical and partnership demands in Canada’s regulated iGaming market.
As the market moves beyond initial entry and into a phase defined by performance, scalability, and compliance, operators are re-evaluating their technology foundations.
Digicode’s Diger Suite is built to support this shift, offering a modular architecture that enables faster adaptation to regulatory changes, improved system reliability, and more efficient operations.
Aligned with the summit’s 2026 theme, “Partnerships, Performance, and Market Reality,” Digicode will demonstrate how its technology supports sustainable growth.
The Diger Suite equips operators with tools to manage complex integrations, streamline localized payment processing, and ensure compliance with responsible gaming requirements.
Its AI-driven framework automates backend workflows while maintaining strict standards for security and uptime.
“The Canadian market has entered the phase of operational maturity where the focus is no longer on expansion alone but on improving efficiency and long-term profitability,” said Elkhan Shabanov, CEO of Digicode Americas.
Operators are looking for solutions that not only meet regulatory demands but also enable them to scale efficiently and maintain control over their platforms.”
During the summit, Digicode’s team will engage with industry stakeholders on topics including AI adoption in product development, modernization of legacy systems, and the transition away from traditional SaaS and revenue-share models toward full platform ownership.
The company aims to help operators regain control of their technology stack, reduce dependency on third-party vendors, and build scalable, compliant solutions tailored to their business needs.
About Digicode
Digicode is a full-cycle AI-enabled product development company that designs and delivers enterprise digital solutions for organizations in complex, regulated environments.
Digicode supports clients with enterprise systems, integrations, and long-term software development. The company operates internationally and prioritizes projects where ownership and technical responsibility remain with the client.
The post Digicode to showcase Diger Suite at SBC Summit Canada 2026 appeared first on Americas iGaming & Sports Betting News.
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