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SharpLink Gaming Reports Full Year 2024 Financial Results

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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.

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Galy Olazo

Win Systems will showcase its latest innovations at an exclusive showroom in Peru

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Win Systems, a leading provider of technology for the gaming and entertainment industry, will host an exclusive event on May 28 and 29 at its offices in Peru, where it will present a showroom dedicated to present its latest innovations in products and solutions for casinos and venues.

One of the main highlights of the event will be the live presentation of the Gold Club Colors electronic roulette, an evolution of the company’s flagship model that incorporates a high level of aesthetic and functional customization. This upgraded version allows the product design to be adapted to the visual identity of each casino, providing a unique opportunity to enhance the ambiance and distinctive character of every venue. Operators will be able to fully customize the LED colors and handrests, as well as other key components such as the cylinder, ball track cone, and cylinder cover, achieving seamless integration with the casino environment. This flexibility makes the Gold Club Colors a strategic tool to stand out visually and enrich the gaming experience.

“We want our partners and operators in Peru to experience this firsthand. This event will not only allow them to explore our products in detail but also see how the new functionalities of the Colors take the gaming experience to the next level,” said Galy Olazo, Country Manager Peru.

In addition to the aesthetic customization options, attendees will be introduced to the new game layout design and the innovative dynamic paytable, which adjusts payouts according to each game’s dynamics, offering a more strategic and engaging experience for players.

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The Win Systems showroom in Peru is a unique opportunity to see one of the world’s most renowned electronic roulettes in action—now with more technology, more customization, and more value for operators.

Win Systems invites all interested parties to schedule an appointment by writing to [email protected].

The post Win Systems will showcase its latest innovations at an exclusive showroom in Peru appeared first on Gaming and Gambling Industry in the Americas.

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Anastasia Rimskaya

Aviatrix now live with Vibra Solutions

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Aviatrix, the award-winning crash game, is now live with Vibra Solutions, with a focus on growth in key Latin American markets.

The partnership between Aviatrix and Vibra Solutions was signed last year, and with the integration now complete, Vibra Solutions’ operator partners now have access to the game. Vibra Solutions is certified in Brazil, Peru, Argentina (LotBa) and Malta.

Anastasia Rimskaya, Chief Account Officer at Aviatrix, said: “We’re thrilled to be live with Vibra Solutions, a company that truly understands the unique needs of the Latin American market. This partnership is a major milestone in our expansion strategy across the region, and we’re confident that operators and players alike will love what Aviatrix brings to the table.”

Federico Saini, Chief Commercial Officer at Vibra Solutions added: “Aviatrix has quickly become one of the most talked-about games in the industry, and we’re delighted to bring it to our operator partners across Latin America. It’s innovative, engaging, and perfectly suited to the preferences of our markets. We look forward to seeing strong results as we roll it out across the region.”

The post Aviatrix now live with Vibra Solutions appeared first on Gaming and Gambling Industry in the Americas.

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Andres Troelsen Belatra Games’ Commercial Director for Latin America

Belatra amplifies Argentine presence through partnership with Sportsbet

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Belatra Games, the specialist online slots developer, has amplified its presence in the Argentine market through a partnership with sports betting operator, Sportsbet.

Betting site Sportsbet is highly respected across the country, offering a wide range of online games, including slots, roulette and blackjack, as well as a live casino that provides an immersive experience for players.

As part of the agreement, Belatra will integrate a selection of its games, including popular hits Mummyland Treasures, Rise of Zeus, Golden øks, Make it Gold, and newly released Cyber Gypsies.

In June, Belatra will be heading to PGS – Peru Gaming Show, Latin America’s leading international gaming fair, further emphasising its commitment to the LatAm region.

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Andrés Troelsen, Belatra Games’ Commercial Director for Latin America commented: Belatra continues to bolster our presence in LatAm and collaborating with Sportsbet gives us the perfect chance to accelerate our growth in Argentina. Sportsbet has a strong brand presence in the country and we look forward to enhancing their platform with a selection of our most popular games.

Anahi Melisa Garcia, Project Manager Sportbet Argentina: “We are excited to add Belatra titles to our platform, with the goal of continuing to elevate the gaming experience we offer. This partnership allows us to expand our casino catalog with high-quality, internationally recognized content. We are confident that this collaboration will mark the beginning of a strong and lasting relationship, and we believe it will be key to our growth within the Argentine market.”

The post Belatra amplifies Argentine presence through partnership with Sportsbet appeared first on Gaming and Gambling Industry in the Americas.

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