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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.
Games Global has paid out a €10,475,169.87 jackpot to a CasinoFriday player after a win on Fire & Roses Joker King Millions
, the supplier said.
Games Global said the prize is one of the largest payouts on its King Millions progressive jackpot network. The win came on Fire & Roses Joker King Millions, a title developed by Triple Edge Studios and connected to the King Millions network.
Ofir Gal-Mor, Senior Vice President of Customer Experience & Innovation at Games Global, said: “This €10,475,169.87 payout underlines the scale and reach of the King Millions network across our operator partners. We are proud to support CasinoFriday in delivering premium progressive content, and this result demonstrates the continued performance of Fire & Roses Joker King Millions within regulated markets.”
The CPO at Funnz, added: “We are delighted to congratulate our player on securing this remarkable €10.4 million King Millions jackpot win. At CasinoFriday, our focus is on providing high-quality entertainment to our community, and this milestone demonstrates the strength of our partnership with Games Global and the performance of its progressive network.”
Games Global said its progressive jackpot portfolio includes Mega Moolah, WowPot, King Millions, Maple Moolah and Lotsaloot, with a combined prize value exceeding €28m.
The post CasinoFriday player wins €10.48m on Games Global’s King Millions network appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Casino Content
ELA Games’ King and Flame shortlisted for Best New Game Release at SiGMA Europe Awards 2026
ELA Games’ King and Flame has been named a finalist for Best New Game Release at the 2026 SiGMA Europe Awards. The awards are scheduled to take place at the Casino Maltese in Valletta, Malta, on May 27.
The company said the nomination reflects its approach of combining narrative design with slot math models. King and Flame is positioned as a medieval fantasy Hold and Win title built around a storyline that “flips classic fantasy tropes upside down,” with a prince unleashing a Dragon Queen.
According to ELA Games, the game includes coin symbols that pay their face value, Mystery Chests that can award instant prizes or trigger the Grand Jackpot, and a “Tamed by the Crown” feature where the Dragon Queen appears as an expanding Full Reel Wild. The studio also highlighted free spins with column-expanding coins and a Super Bonus Wheel that doubles rewards.
Marharyta Yerina, Managing Director of ELA Games, said: “We’re very happy to see King and Flame get a nomination at the very well-regarded SiGMA Europe awards. I know the work everyone at the ELA team put into creating an intricate back story and graphic world for this slot. It is one of the most narrative-based titles we have released to date, and the care the team put into the design has really brought that story to life. It is wonderful to see that dedication noticed on such a prestigious stage.”
SiGMA has opened public voting for the category via its awards site.
The post ELA Games’ King and Flame shortlisted for Best New Game Release at SiGMA Europe Awards 2026 appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
New title adds three Diamond bonus features, a Collect Diamond mechanic and four jackpots up to 1,000x.
Playson has released a new slot title, 3 Supercharged Diamonds: Hold and Win, expanding its Hold and Win catalogue with three Diamond-driven bonus features and four jackpot prizes up to 1,000x.
The game’s Hold and Win Bonus Game uses a “3 Pots” mechanic, triggered when green, yellow or violet Diamond symbols land alongside their respective Diamonds positioned above the reels. Depending on the Diamonds that land, the bonus can activate an Expand Feature (3×5 grid), Multi Feature (multipliers on reels one and three starting at 2x and increasing up to 32x), or Stepper Feature (Bonus Diamonds remain in play and move down one position after each respin).
A Collect Diamond can land only on reel two during the Bonus Game. Playson said it holds its position for the round and accumulates the value of Bonus Diamonds that land before being applied to the Total Win at the end of the feature.
Jackpots can also land during the bonus round: Mini (15x), Minor (30x), Major (100x) and Grand (1,000x). Outside the bonus, any Diamond symbol in the Main Game can randomly trigger an Extra Diamonds Feature, which Playson said can add enough Diamonds to start the Bonus Game.
Anton Ivannikov, CPO at Playson, said: “3 Supercharged Diamonds: Hold and Win takes one of our most recognisable game mechanics and elevates it with a collection of dynamic new features designed to maximise excitement during every bonus round.
“By combining the Expand, Multi and Stepper features with the Collect Diamond and four jackpot opportunities, we have created a release that delivers strong entertainment value and varied gameplay experiences for players worldwide.”
The post Playson releases 3 Supercharged Diamonds: Hold and Win slot appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
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