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.
iGaming markets
TaDa Expands Across LatAm and Africa with VeliGames
Award-winning TaDa has strengthened its presence across Latin American and African iGaming markets through its latest partnership with the VeliGames aggregation platform by VeliTech.
The collaboration will see TaDa’s extensive portfolio, alongside its award-winning gamification ecosystem, integrated into the VeliGames platform, giving regulated operators across Latin America and Africa seamless access to the provider’s content.
Popular titles, including Fortune Garuda 500, Fortune Gems 500 and Fortune Gems 2, will be available to VeliGames partners across both regions.
The VeliGames aggregation platform by VeliTech delivers powerful infrastructure for iGaming operators in emerging markets. Through a single API, operators can access more than 35,000 casino games alongside wallet integration, player management, reporting and engagement tools. The platform is designed especially to support operators to navigate complex emerging markets.
Ray Lee, Director of Business Development at TaDa Gaming, said: “Working with VeliGames is another milestone in our strategies for pan African and Latin American growth. Their impressive technology supported by their expert customer service aligns with our brand values and we are looking forward to collaborating on some exciting new projects.”
Revaz Janelidze, Operations Lead at VeliGames, said: “Partnering with TaDa Gaming is another strong step in expanding the depth and diversity of VeliGames portfolio. Their engaging content makes them a valuable addition to our network, helping our operator partners deliver more relevant experiences to players worldwide. We’re excited to see what we can achieve together.”
The post TaDa Expands Across LatAm and Africa with VeliGames appeared first on Americas iGaming & Sports Betting News.
Betnacional
Zitro Digital Goes Live on Betnacional, Further Strengthening its Position in Brazil
Zitro Digital, the online division of leading gaming supplier Zitro, has announced a new agreement with Betnacional, one of Brazil’s leading iGaming operators and part of Flutter Brazil ecosystem. The launch further strengthens the company’s presence in one of Latin America’s most important regulated markets, bringing its game library to an even broader audience of Brazilian players.
Betnacional customers can now enjoy Zitro Digital’s portfolio of slots and Video Bingo titles, combining proven performers inspired by the company’s successful land-based heritage with games developed exclusively for the online channel. Popular titles, including King Fu Frog, Legendary Sword, and Cash Totems, are now available on the platform.
Brazil holds a special place in Zitro’s story. With deep roots in the country, the company continues to strengthen its online presence as part of its growth strategy across Latin America. This latest launch reflects Zitro Digital’s commitment to one of the region’s most dynamic regulated iGaming markets.
Frederico Cunha, Head of Games at Flutter Brazil, said: “The growth of our content offering is driven by a carefully curated portfolio. With the addition of Zitro Digital, we are strengthening our presence in a strategic category while expanding the range of experiences available to our customers, with a continued focus on variety, quality, and relevance.”
Thiago Valadão, Commercial Director at Zitro Digital – Brazil, said: “We’re very pleased to add Betnacional to our growing network of operators as our portfolio continues to gain momentum across Latin America’s regulated markets. We’re delighted to see our fan-favorite series become part of its offering and appreciate the trust Betnacional’s team has placed in us.”
The post Zitro Digital Goes Live on Betnacional, Further Strengthening its Position in Brazil appeared first on Americas iGaming & Sports Betting News.
Igor Extremo
Kambi Group Signs Multi-year Partnership with RETABET Group
Kambi Group plc, the home of premium sports betting solutions, has agreed a multiyear partnership with RETABET Group, a leading sports betting operator with an established online and retail presence in the Spanish and Peruvian markets.
Under the terms of the partnership, RETABET will gain access to Kambi’s entire library of traded odds through a seamless single API integration into RETABET’s proprietary sportsbook platform. Founded in 2002, RETABET is a prominent international sports betting operator with an extensive online and retail presence throughout Spain, as well as a fast-growing omnichannel footprint in Peru.
Delivering actively managed and traded odds to a growing range of partners globally, Odds Feed+ is Kambi’s premium odds feed solution. Available in bespoke packages which can be adapted in real time to meet each partner’s strategic requirements, these odds are sharpened by the billions of bets and €17 billion global liquidity Kambi processes annually, unlocking unmatched precision and margin performance.
Furthermore, Kambi’s growing suite of AI-powered odds enhances pricing accuracy and trading quality, while low-latency delivery powered by official data sources ensures real-time odds and a smoother betting experience.
Werner Becher, Kambi Group CEO, said: “We are very pleased to agree this partnership with RETABET and welcome the opportunity to work closely with such an experienced and ambitious team. Our Odds Feed+ product gives operators the flexibility and choice they need to succeed in competitive marketplaces, and this partnership is another indicator of the trust leading operators are placing in Kambi’s ability to enhance margins and empower growth.”
Igor Extremo, COO at RETABET Group, said: “At RETABET we are always looking for ways to enhance our offering to our players across Spain and Peru. In partnering with Kambi for Odds Feed+ we are gaining access to high-quality pricing across a huge variety of sports, unlocking even greater depth and coverage for our customer base and leveraging Kambi’s proven expertise to enhance our platform.”
The post Kambi Group Signs Multi-year Partnership with RETABET Group appeared first on Americas iGaming & Sports Betting News.
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