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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.

BETBY

BETBY LAUNCHES COMPREHENSIVE REPORT ON PERU’S REGULATED GAMBLING MARKET

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BETBY, the premium supplier of cutting-edge sportsbook solutions, has published a detailed report titled “The Peruvian Breakthrough: A Market Ready for Takeoff”, offering a thorough analysis of the country’s newly regulated iGaming industry.

Following the implementation of Peru’s online gambling framework in 2024, this report explores the legislative transformation, market growth trends, and consumer behavior shaping one of Latin America’s most promising emerging markets.

The report covers several key aspects, including:

✅ Evolution of Peru’s gambling legislation and its impact on market structure and operator licensing;
✅ Market performance analysis, including land-based vs. online growth and mobile channel adoption;
✅ Economic indicators, such as GDP contribution, per capita GGR, and projected market size through 2030;
✅ Player profiles and betting behavior, with insights into frequency, motivations, and engagement across age and gender groups;
✅ Digital readiness, including mobile usage, internet speeds, and device preferences;
✅ Competitive landscape, with a breakdown of leading operators and changes in market share.

🔗 DOWNLOAD the report to discover strategic insights and unlock growth opportunities in Peru’s regulated gambling ecosystem.

The post BETBY LAUNCHES COMPREHENSIVE REPORT ON PERU’S REGULATED GAMBLING MARKET appeared first on Gaming and Gambling Industry in the Americas.

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Diana Otálora Country Manager of Stake Colombia

Stake Colombia welcomes tennis star Juan Sebastián Cabal as new ambassador

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Stake Colombia is proud to announce its sponsorship and the incorporation of Juan Sebastián Cabal, the Colombian tennis legend, as its new ambassador. This alliance celebrates Cabal’s unparalleled career and reinforces Stake Colombia’s commitment to sports, excellence, and the Colombian community.

Juan Sebastián Cabal, an iconic figure in Colombian tennis, reached the top of the doubles world ranking in 2019, forming one of the most prominent duos of the last decade with Robert Farah. Together, they conquered Wimbledon and the US Open, were finalists at Roland Garros and the Australian Open in men’s doubles, and Cabal also won the Australian Open in mixed doubles. Furthermore, they achieved multiple victories in ATP 1000, 500, and 250 tournaments. His career is a clear example of perseverance, talent, and excellence, leaving an indelible mark on global tennis.

“Having Juan Sebastián Cabal as an ambassador is key for Stake Colombia. At a time when paddle is experiencing an explosion in popularity across the country, fostering entertainment among young people is fundamental. Supporting, connecting with the community, and offering new experiences is what drives us, and this alliance is an opportunity to truly excite both paddle and tennis enthusiasts alike,” stated Diana Otálora, Country Manager of Stake Colombia.

Beyond his impressive records and titles, Juan Sebastián Cabal embodies the fighting and resilient spirit of Colombian athletes. He has represented Colombia in three editions of the Olympic Games and has been a fundamental pillar in the Davis Cup for more than 15 years. Currently, Cabal continues his legacy in padel and sports development through his club “Padeling by Cabal,” which promotes well-being and physical activity in his hometown, inspiring new generations of athletes and strengthening national pride.

Regarding this new alliance with Stake Colombia, Cabal stated that “it is a fantastic opportunity to continue promoting the values of sport and dedication that have accompanied me throughout my career. I am excited about the idea of working together to inspire more people and support sports development in our country.”

The collaboration between Stake and Juan Sebastián Cabal is a testament to their shared passion for sports and entertainment. Through this partnership, Stake Colombia will seek to promote sports integrity and connect communities with innovative and exciting experiences.

The post Stake Colombia welcomes tennis star Juan Sebastián Cabal as new ambassador appeared first on Gaming and Gambling Industry in the Americas.

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CT Gaming

CT Gaming Installs NEXT Slot Cabinets at Masaris Piura Gaming Venue

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CT Gaming has installed NEXT slot cabinets at the Masaris Piura gaming venue, operated by Holding Masaris. Located in the vibrant city of Piura, this latest project marks another significant step in CT Gaming’s expansion across key regions in Latin America.

The installation showcases CT Gaming’s top-performing combination of advanced hardware and engaging content. The sleek NEXT cabinets are equipped with the bestselling multigame Diamond King 3, delivering an exceptional player experience through immersive gameplay аnd contemporary graphics.

“We are proud to see our partnership with Holding Masaris continue to grow with this new installation in Piura. Masaris Piura is a landmark venue in the region, and we are excited to bring our premium gaming solutions to its players,” said Georgi Koprinarov, General Manager for Latin America at CT Gaming.

The Diamond King 3 multigame pack features 50 exciting titles, including the legendary Mega Jack Trio — Aztec Gold, Slot-O-Pol Deluxe, and Champagne Party — combining nostalgic appeal with enhanced graphics and bonus features. The combination ensures high entertainment value and strong performance for operators.

The post CT Gaming Installs NEXT Slot Cabinets at Masaris Piura Gaming Venue appeared first on Gaming and Gambling Industry in the Americas.

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