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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.
Aleix Giacomelli Account Manager at MGA Games
bet365 partners with MGA Games on Mina de Oro Golden Edition for Spain
The operator launches a branded version of the classic slot title for its Spanish customers.
bet365 has partnered with MGA Games to launch Mina de Oro Golden Edition bet365 for customers in Spain.
The companies said the release is a reimagined version of Mina de Oro, positioned as an update to one of MGA Games’ long-running titles for the Spanish market.
Luke Rushton, Gaming Product Content Manager at bet365, said: “MGA Games has established an outstanding reputation for innovation and quality, and we are delighted to partner with them on this exciting title.
“Reimagining such a celebrated classic is both a privilege and a significant responsibility, and we are confident customers will greatly enjoy this new experience.”
Javier Lanfranchi, Commercial Director at MGA Games, said: “Mina de Oro Golden Edition bet365 represents the celebration of 10 years of successful collaboration between MGA Games and bet365: a decade built on trust, innovation and a shared commitment to delivering top-level gaming experiences.”
Aleix Giacomelli, Account Manager at MGA Games, said: “Launching such a special edition alongside bet365 is much more than presenting a new game. We believe players are going to greatly enjoy this new version of Mina de Oro.”
The post bet365 partners with MGA Games on Mina de Oro Golden Edition for Spain appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
aggregation
Groove lands Brazil iGaming licence as it pushes LATAM expansion
Groove said it has been granted a licence to operate in Brazil, expanding its regulated footprint in Latin America and adding to its existing infrastructure in Argentina.
The company positions the Brazil approval as a route for operator and supplier partners to enter the market via a single integration, with localisation features including local payment processing and marketing tools. The release did not specify the issuing regulator, licence type, or an effective date.
Rachel Tourgeman, Head of Partnerships at Groove, said: “The green light in Brazil is more than a license; it’s a key that unlocks a kingdom of opportunity for our partners. We’ve built a platform capable of not just entering, but driving in regulated markets.” She added: “Operators can now immediately tap into Brazil’s immense potential, while providers gain a trusted pipeline to a passionate new player base. This is a definitive moment that accelerates the entire LATAM iGaming ecosystem.”
Yahale Meltzer, Co-Founder and CEO of Groove, said: “Our vision has always been to build the bridges that connect great content with passionate players, wherever they are. Securing our Brazilian license and reinforcing our Argentine operations is a testament to our team’s relentless execution and our long-term commitment to LATAM.” He added: “We are not just following trends; we are actively architecting the future of iGaming in the region, providing a secure, scalable, and sophisticated platform for our partners to grow with us. The door to Latin America is now open, and Groove is the key.”
Groove also said its platform offers access to “over 20,000 games” from “over 150 games partners” and noted it has launched a new web domain at www.groovetech.com.
The post Groove lands Brazil iGaming licence as it pushes LATAM expansion appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
diversity and inclusion
GAMOMAT wins Best Diverse Place to Work at WIG Diversity & Inclusion Awards 2026
GAMOMAT has won Best Diverse Place to Work at the WIG Diversity & Inclusion Awards 2026, the company said on Monday 15th June, 2026. The award was presented at an event held last Friday at London’s Savoy Hotel.
According to the company, the Best Diverse Place to Work category recognises organisations “whose values support a diverse, motivated, and effective workforce.”
Dr Alex Krone, Managing Director at GAMOMAT, said: “GAMOMAT securing the Best Diverse Place to Work award against such a strong field is a proud recognition of the culture the company continues to build across the business. The award further reinforces our belief that creating an inclusive, supportive, and people-first environment drives stronger teams, stronger collaboration, and long-term success across the industry.”
GAMOMAT also received an individual award, with Lead Game Composer Iris Wallner named Employee of the Year. The company said the accolade recognises employees who demonstrate service orientation, innovation, open communication and team support, and noted Wallner’s work on “the award-nominated soundtrack for Dead Legion.”
Iris Wallner, Lead Game Composer at GAMOMAT, said: “Being named Employee of the Year is amazing and means a great deal to me. At GAMOMAT, creativity and collaboration go hand in hand, and I’m fortunate to work alongside talented people who constantly inspire and support one another. Bringing game worlds to life through music is something I’m deeply passionate about, so to receive this recognition for doing what I love is truly rewarding.”
The post GAMOMAT wins Best Diverse Place to Work at WIG Diversity & Inclusion Awards 2026 appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
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