Latin America
SharpLink Gaming Reports Full Year 2024 Financial Results
SharpLink Gaming, Inc., an online performance-based marketing company serving the U.S. sports betting and global iGaming industries, today announced its financial results for the full year ended December 31, 2024.
Financial Highlights
- Revenues declined 26.1% to $3,662,349 in 2024 from $4,952,725 in 2023.
- Total operating expenses dropped 45.6% to $5,669,248 for the 12 months ended December 31, 2024 compared to $10,425,865 for the same 12-month period in 2023.
- Net income rose to $10,099,619, or $2.29 income per share, from a net loss of $14,243,182, or $5.19 loss per share, for the years ended December 31, 2024 and 2023, respectively.
- Net income from discontinued operations, net of tax, totaled $14,573,262 in 2024, which was up 586.7% from a net loss from discontinued operations, net of tax of $14,243,182 for the prior year.
- Net loss from continuing operations for the 12 months ended December 31, 2024 totaled $4,473,643, representing a 60.2% decrease when compared to a net loss from continuing operations of $11,248,598 for the 12 months ended December 31, 2023.
- As of December 31, 2024, cash on hand was $1,436,729, a 42.2% decrease when compared to cash on hand of $2,487,481 as of December 31, 2023. Total stockholders’ equity was $2,082,869 as of December 31, 2024, which compared to a total stockholders’ deficit of $9,399,769 as of December 31, 2023. From May 2024 through to February 6, 2025, the Company raised gross proceeds, in aggregate, of $1,834,925 pursuant to its At-The-Market Offering, offered under its initial and supplemental prospectuses filed with the U.S. Securities and Exchange Commission – of which $896,215 in gross proceeds were raised as of December 31, 2024 and the remaining $938,710 was raised in early 2025.
2024 Operational Highlights
- On January 18, 2024, SharpLink completed the sale of its Sports Gaming Client Services and SHGN businesses to RSports Interactive, Inc. for $22.5 million in an all-cash transaction.
- Immediately following the sale, SharpLink used a portion of the proceeds from the sale to retire approximately $19.4 million, in aggregate, in outstanding debt obligations, thereby eliminating all interest-bearing debt on its balance sheet.
- On February 13, 2024, completed domestication merger with SharpLink Gaming, Ltd., changing from an Israel limited liability company to a Delaware corporation.
- In February, established new Board of Directors for SharpLink Gaming, Inc. with the appointments of Rob Phythian as Chairman and Leslie Bernhard, Obie McKenzie and Robert Gutkowski as new independent members of the Board.
- In July, announced that the Board of Directors had initiated a formal review process to evaluate strategic alternatives for the Company, including, but not limited to, a sale, merger, strategic business combination or other transaction, which the Board and management felt offered the best opportunities to operative SharpLink’s affiliate marketing business, drive growth and create and maximize value for the Company’s stockholders.
- Subsequent to the end of the year, in February 2025, SharpLink announced that the Company acquired a 10% equity stake in U.K.-based Armchair Enterprises Limited (“Armchair”), which owns and operates CryptoCasino.com. The acquisition was made for $500,000 in cash, along with a right of first refusal to acquire a controlling interest in Armchair.
Rob Phythian, Chairman and CEO of SharpLink Gaming, stated, “As I reflect on our financial results for 2024, I am proud of the decisive actions our leadership has taken to streamline and focus SharpLink’s business operations and position our Company for future growth. The successful sale of our fantasy sports and sports game development businesses and the elimination of our debt marked pivotal moments in our journey. Looking ahead, we remain committed to exploring strategic opportunities that will enhance our affiliate marketing business and increase stockholder value. Our recent investment in Armchair Enterprises is a testament to our proactive approach to identifying and capitalizing on emerging trends in the iGaming space.”
“In particular, we see significant potential in blockchain technologies, which are poised to revolutionize the global digital gaming sector. The transparency, security and efficiency offered by blockchain can enhance user experiences and foster trust within the online gaming community. By embracing these advancements, we believe we can unlock new avenues for growth and makes strides forward in positioning SharpLink as a recognized leader in the markets we serve,” concluded Phythian.
The post SharpLink Gaming Reports Full Year 2024 Financial Results appeared first on Gaming and Gambling Industry in the Americas.
Aurora Armaro Senior Client Success Manager at Yggdrasil
Yggdrasil expands presence in Brazil with three commercial deals
Yggdrasil has significantly expanded its footprint in Brazil after partnering with three leading operators in the regulated market as it looks to carve a dominant market position in the country.
F12, Blaze, and Novibet customers now have access to more than 400 of Yggdrasil’s proven, high-performing titles, strengthening their casino offerings with premium content that has resonated with players globally and within Latin American. Included in the titles available in Brazil are Buffalo Freedom, MexoMax2, 4 Wolves of Fortune, among others.
The launches rapidly accelerate Yggdrasil’s growth strategy in the country, as it looks to establish itself as a leading supplier in the regulated Brazilian iGaming market. Alongside its award-winning in-house content, Yggdrasil will also deploy games created through its YGG Masters program, as well as its new technology service Game in a BoxTM, an all-in-one slot development platform streamlining the entire game creation process.
This triple rollout marks a major milestone for Yggdrasil in Brazil, coming one year after the country’s iGaming regulation took effect. The market continues to demonstrate strong growth and maturity, and Yggdrasil is now live with more than 14 operators across the country, with additional partnerships planned in the coming months.
Aurora Armaro, Senior Client Success Manager at Yggdrasil, said: “For us at Yggdrasil, adding three major iGaming operators in Brazil of the calibre of F12, Blaze, and Novibet to our network is key to strengthening our presence in the country and bringing our core and YGG Masters portfolio to even more players.
“It also highlights our speed to market, as we’ve scaled rapidly across 14 operators in the market, with parallel deals occurring in Italy recently as we continue to enjoy commercial growth in regulated markets.”
The post Yggdrasil expands presence in Brazil with three commercial deals appeared first on Americas iGaming & Sports Betting News.
Codere Online
RubyPlay and Codere Online join forces to elevate gaming offering in Mexico
Leading Mexican operator leverages provider’s content ecosystem to diversify casino offering
RubyPlay, a studio-based content ecosystem, has strengthened its presence in Mexico through a new partnership with Codere Online, one of the leading digital sports betting and casino operators in the country.
The deal has seen Codere Online integrate a broad selection of RubyPlay’s most popular titles, including player favourites such as J Mania® Loco Habanero, Grand Express Diamond Class, and Zeus Rush Fever® Deluxe SE.
The partnership also includes content incorporated from Koala Games, one of the fast-growing studios within RubyPlay’s ecosystem, including popular hits Voltage Blitz® Rapid and Voltage Blitz® Vortex, while providing Codere Online with access to additional content from across RubyPlay’s wider studio network as further titles are introduced.
This collaboration reinforces RubyPlay’s expansion across the LATAM region, where its content is strongly performing with multiple leading brands. At the core of this growth is RubyPlay’s multi-layered content ecosystem, which is benefitting operators of all sizes with a greater variety of games. The model enhances RubyPlay’s ability to develop tailored, relevant content while leveraging a unified distribution network.
This approach enables faster delivery cycles, greater portfolio diversity, and improved responsiveness to both operator requirements and evolving player preferences.
The NASDAQ-listed operator has established itself as a leader across its core Spanish-speaking markets, including Mexico. Through this latest partnership, RubyPlay’s portfolio will reach an even broader audience in Mexico, the second-largest market in Latin America, supporting Codere Online’s ongoing commitment to delivering a high-quality and engaging online casino experience for players in the region.
Dima Reiderman, CCO at RubyPlay, said: “Partnering with Codere Online represents a significant milestone in our expansion across Mexico and the wider LATAM region. The operator’s strong brand recognition and vast customer base make them an ideal partner to reach even more players within the region.
“Through our studio-based ecosystem, including Koala Games and Mad Hat Games, we can leverage additional market-focused content to support Codere Online’s evolving strategy in Mexico and the wider LATAM region.”
Sarit Adania, Head of Casino Product at Codere Online added: “RubyPlay’s consistently high-performing titles through its impressive content ecosystem will become a significant addition to our online casino offering in Mexico.
“By integrating content from both RubyPlay and Koala Games, we are seamlessly diversifying our games portfolio and continuing to deliver the engaging, premium experiences our players expect.”
The post RubyPlay and Codere Online join forces to elevate gaming offering in Mexico appeared first on Americas iGaming & Sports Betting News.
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The post NdP INTERAZAR 2026 – Participación de Melilla en Interazar appeared first on Americas iGaming & Sports Betting News.
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