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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.
Anastasia Rimskaya Chief Account Officer at Aviatrix
Aviatrix Launches New Loot Boxes to Deepen Progression and Reward Paths
Aviatrix has launched a new Loot Box feature for its premier crash game, presenting collectible rewards, free bets, and progression bonuses aimed at boosting long-term player engagement.
Loot Boxes are granted through a daily rewards mechanism, with players obtaining them according to their in-game actions and advancement. Every box holds a variety of rewards, such as aircraft skins, complimentary bets, and aviation experience points.
The feature enhances Aviatrix’s developing loyalty system, providing players with fresh options to personalize their aircraft and earn rewards through continuous engagement.
Anastasia Rimskaya, Chief Account Officer at Aviatrix, said: “Loot Boxes are part of our wider vision for Aviatrix as a connected multi-game universe. As we expand our iGaming Metaverse, features like Loot Boxes add another meaningful layer to how players build their profile, customise their aircraft and earn rewards across the ecosystem.”
Unveiled in February, the Aviatrix iGaming Metaverse signifies the supplier’s shift from a standalone crash game to an integrated multi-title ecosystem.
Starting with the imminent debut of Aviatrix Second Chance and continuing with upcoming titles like Aviatrix Fruits and Aviatrix Mines, every game will utilize a single integrated player profile, progression system, and rewards and achievements framework.
The post Aviatrix Launches New Loot Boxes to Deepen Progression and Reward Paths appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Atucha Strategic Advisory
Atucha Strategic Advisory strengthens leadership team with appointment of Eliane Nunes as Head of Revenue & Commercial Growth
Atucha Strategic Advisory, led by LatAm specialist Ramiro Atucha, has strengthened its leadership team with the appointment of Eliane Nunes as Head of Revenue & Commercial Growth, reinforcing the consultancy’s capabilities across Brazil and the wider Latin American region.
The appointment reflects the ongoing evolution of ASA’s boutique advisory model and its focus on delivering tailored strategic guidance to a select group of clients operating in complex, fast-changing markets.
Eliane Nunes brings more than 30 years of experience across iGaming, public relations, corporate communications, growth strategy, and partnership development. Her career has been defined by deep market understanding, relationship-driven leadership, and a long-term approach to sustainable value creation.
Ramiro Atucha commented:
“Eliane’s market sensitivity and structured thinking make her a natural fit for ASA. Her ability to combine revenue awareness, commercial vision, and attentive listening enhances the value we deliver to our partners.”
Eliane Nunes added:
“Ramiro is a professional I have long admired, and our perspectives on growth, positioning, and client development are highly aligned. In Brazil and LatAm, sustainable performance is shaped not only by metrics, but also by trust, reputation, and close professional relationships.”
In her new role, Nunes will lead revenue development initiatives, commercial expansion, and partnership structuring, helping ASA clients translate strategic direction into measurable business outcomes across Brazil and Latin America.
The post Atucha Strategic Advisory strengthens leadership team with appointment of Eliane Nunes as Head of Revenue & Commercial Growth appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
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