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SharpLink Gaming Announces First Quarter 2024 Results and Provides Operational Update

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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 first quarter financial results for the three months ended March 31, 2024, as reported in the Company’s Quarterly Report on Form 10-Q (“10-Q”) filed with the U.S. Securities and Exchange Commission (“SEC”) on Friday, May 17, 2024.

Commenting on the results, Rob Phythian, Chairman and CEO of SharpLink, stated, “2024 kicked off being marked by a pivotal quarter defined by the successful execution of a series of initiatives. We view each of these important milestones as critical first steps in achieving the strategic transformation of our Company, enabling us to ultimately win distinction as a leading pure-play online affiliate marketing company trusted by and relied upon by our U.S. sportsbook and global casino gaming partners.”

As previously announced, on January 18, 2024, SharpLink sold its Sports Gaming Client Services and SportsHub Gaming Network (“SHGN”) business segments to RSports Interactive, Inc. (“RSports”) for $22.5 million in an all-cash transaction. As a result, the historical results for these segments were reflected as discontinued operations in the Company’s consolidated financial statements included in the 10-Q.

Financial Highlights for the Three Months Ended March 31, 2024 Compared to Three Months Ended March 21, 2023

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  • Revenues from the Company’s continuing operations totaled $975,946 compared to $1,232,762.
  • Net loss from continuing operations declined 18.4% to $1,760,811 compared to $2,157,183.
  • Net income from discontinued operations, net of tax increased 2217% to $14,111,167 from a net loss from discontinued operations, net of tax of $666,563.
  • Net income totaled $12,350,345, or $3.36 income per share on a fully diluted basis – up 537% from $2,823,746, or $1.01 loss per share.

For more detailed information on SharpLink’s first quarter 2024 financial performance, please refer to Form 10-Q filed with the SEC and accessible at sec.gov or on SharpLink’s website at sharplink.com.

First Quarter 2024 Business Highlights

  • On January 18, 2024, completed sale of SharpLink’s Sports Gaming Client Services and SHGN businesses to RSports 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 8, 2024, regained full compliance with Nasdaq Continued Listing Standards.
  • 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.

Continuing, Phythian said, “Given our strengthened balance sheet; our highly engaged Board comprised of world class, accomplished business executives; and our shared commitment to a strategy that is expected to empower us to capitalize on potentially compelling growth opportunities in the sports, entertainment and media industries, SharpLink has great hopes for our Company’s future. We plan to continue to enhance our value proposition to our sportsbooks and casino operator partners, while also actively seeking opportunities to expand our iGaming affiliate marketing network into new U.S and international markets where online sports betting and casino gaming have been legalized. Moreover, we intend to continue executing our strategic transformation with clarity and focus, and in doing so, we hope to deliver strong, sustainable value creation for our fellow shareholders for many years to come.”

“Unlocking SharpLink’s next phase of growth with purpose and cost-discipline will be key to our long-term success and should provide us with greater agility as we build momentum and look to accelerate our growth prospects as 2024 unfolds. To help support our mission and continued strategic transformation, we have filed a registration statement on Form S-3 with the SEC and accompanying prospectus for an At-The-Market offering (“ATM”) which we may utilize to raise growth capital if and when market conditions permit. We have identified other measures that we may also pursue to optimize our assets and further strengthen the foundation on which we are building the ‘new’ SharpLink. Over the course of the next several months, I look forward to sharing many more details on our plans and future ambitions,” concluded Phythian.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities of SharpLink, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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Check Before You Bet – Play Responsibly Ahead of March Madness

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On Sunday, March 16, 2025, the 2025 March Madness tournament begins with Selection Sunday at 6 p.m. ET on CBS. March Madness is the coined name for the NCAA Division I men’s basketball tournament, a single-elimination tournament of 68 teams that compete in seven rounds for the national championship. The penultimate (second to last) round is known as the Final Four, where only 4 teams remain.

Check out the full schedule below:

  • Selection Sunday: 6 p.m. ET Sunday, March 16 on CBS
  • First Four: March 18-19
  • First round: March 20-21
  • Second round: March 22-23
  • Sweet 16: March 27-28
  • Elite Eight: March 29-30
  • Final Four: April 5 at the Alamodome in San Antonio, Texas
  • NCAA championship game: April 7 at the Alamodome in San Antonio, Texas

With March Madness being one of the most anticipated, watched, and wagered-on events in all of sports, the Arizona Department of Gaming (“ADG”) is reminding Arizona residents and visitors to remember to play smart and bet responsibly, remaining within the bounds of the law.

“Every year, March Madness continues to rank among the top sporting events to wager on nationally, as excitement and anxiety builds as fans watch to see if their team will make it to the Final Four,” said Jackie Johnson, ADG Director. “The Department wants to use this opportunity as a chance to remind and encourage Arizona residents, as well as our springtime visitors, to make sure they are enjoying the games responsibly. Protect your bet and ensure your wagers are placed legally and thoughtfully this March.”

Sports Pools – Know What Rules to Follow

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In the United States, it is common to see friends, families, and colleagues participate in sports pools for March Madness. These pools are legal as long as the state’s social gambling rules are followed. According to Arizona Law (A.R.S. § 13-3301(9)), social gambling requires:

  • That gambling cannot be conducted as business, which means that hosts cannot receive financial benefit, unless they are participating in the game;
  • Hosts pay out all pool money to the winner(s);
  • Only participants can win; and
  • Players compete on equal terms with each other.

A few things to be on the lookout for that indicate illegal gambling:

  • Paying a fee to participate, including “suggested” or “voluntary” donations.
  • A host who keeps a percentage of the pool for administering the game.
  • A required minimum purchase to participate (food or beverage, etc.).
  • Unequal odds.
  • Underage participants (under 21 years of age).

ADG takes complaints about illegal gambling seriously. To report suspected illegal gambling activity, visit our website at gaming.az.gov/about/contact-us, call (602) 255-3886, or email publicaffairs@azgaming.gov. You can remain anonymous.

Responsible Betting – What to Keep in Mind

With sports betting legal in the state, it has become increasingly important to educate yourself on how you can bet responsibly. Listed below are some helpful tips as part of the American Gaming Association’s (AGA)

Have A Game Plan.® Bet Responsibly.™ campaign:

  • Set a Budget – It is crucial to keep in mind that everyone will have different budgets; never bet beyond your own means. Be cautious and make sure you set a limit – and stick to it – if you plan on wagering. More information on how to responsibly set a budget for wagering can be found on the AGA’s Have A Game Plan website: How Much Should I Wager?
  • Know the Odds – There are plenty of key terms everyone should know when making a sports bet. What’s a parlay? Over/under? Moneyline? If you decide to wager, make sure you are briefed on The Basics of Sports Betting.
  • Keep it Social – Whenever gambling, be mindful that all forms of gambling are for the purpose of entertainment. This is not a way to make money. By gaming with friends, family, and colleagues, you can keep playing responsibly and have fun.
  • Keep Your Cool – No one’s perfect, and in sports, winning and losing are all part of the game. Whether you’re wagering from the sidelines or watching from home, remember to keep your cool. Good sportsmanship isn’t just for the players on the field; it’s for everyone.
  • Play Legally – Legal operators provide important player protections that are not found in the illegal market. Whether you are placing a wager on your phone or at a physical sportsbook, make sure you are using a legal operator in the state. Visit the ADG website to view a full list of the state’s approved operators and retail locations: Approved Operators.

You can view more information on how to bet responsibly by visiting haveagameplan.org. In recognition of Problem Gambling Awareness Month (“PGAM”), the Department wants to remind Arizonans that if you or someone you know has a gambling problem, the Division of Problem Gambling (“DPG”) urges you to get help now by calling 1-800-NEXT STEP (1.800.639.8783), DPG’s confidential helpline, texting “NEXTSTEP” to 53342, or utilizing a chat feature on the DPG website. DPG’s helpline provides confidentiality and connects callers with a master’s level counselor who can connect them with available resources, including statewide treatment providers who specialize in problem gambling.

The helpline is available 24/7 to everyone facing a problem with gambling – individuals and affected family members, friends, or co-workers. Learn more and access resources at problemgambling.az.gov. Additionally, the ADG published a press release on March 3 recognizing PGAM.

Please view the press release by visiting our website’s Media Room, as well as DPG’s PGAM toolkit for more information.

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The post Check Before You Bet – Play Responsibly Ahead of March Madness appeared first on Gaming and Gambling Industry in the Americas.

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ACR POKER HOSTS DUAL VENOM TOURNAMENTS THIS APRIL WITH $12 MILLION IN TOTAL GUARANTEES

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Building on the success of its Mystery Bounty Venom events in February, which awarded more than $10 million in prize pools and attracted players from over 70 countries, ACR Poker is gearing up for another action-packed doubleheader this spring, featuring Dual Venom tournaments with $12 million in total guarantees.

NLH and PLO players can take their shot in two massive Venom events: the $10 million guaranteed NLH and the $2 million guaranteed PLO, both starting on Sunday, April 13th at 1:05pm ET.

“Playing in prestigious events like the Venom is one of the best ways to sharpen your skills and feel the thrill of big poker,” said ACR Pro Chris Moneymaker. “With both the NLH and PLO Venoms running side by side, $12 million in guarantees on the line and lots of affordable ways to qualify, this is your chance to get in on the action. See you at the tables.”

The $10 million guaranteed NLH Venom spans four days, starting with the first of five Day 1 flights on Sunday, April 13th. Advancing players will battle through Day 2 on Monday, April 28th and Day 3 on Tuesday, April 29th, leading to a thrilling Final Table on Wednesday, April 30th at 4:05pm ET.

Last April, four-time WSOP bracelet winner Dominik ‘Texxassss’ Nitsche from Germany outlasted a massive field of 5,045 entries, walking away with over $1.8 million. Who will claim the NLH Venom title this year?

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Omaha fans can also mark their calendars for the 3-day PLO Venom, featuring a $2 million guarantee and five Day 1 options. It kicks off with Day 1A on Sunday, April 13th, followed by Day 2 on Monday, April 28th, and the final table on Tuesday, April 29th.

Players can stay updated and easily add both Venom events to their calendar via ACR Poker’s online tournament schedule.

The direct buy-in of each Venom is $2,650, but players have the chance to qualify for as little as $0 through ACR Poker’s Venom Fever Satellites, which guarantee over 1,000 Venom seats across The Beast, Venom Madness, Direct and Mega satellites.

In addition to the flagship Venom tournaments, players can dive into ACR Poker’s revamped tournament schedule, compete in the Online Super Series with $25 million in guarantees, and take their shot at the $500,000 guaranteed Venom Warmup in April with just a $66 buy-in.

For more information on the Dual Venom tournaments, visit ACRPoker.eu.

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The post ACR POKER HOSTS DUAL VENOM TOURNAMENTS THIS APRIL WITH $12 MILLION IN TOTAL GUARANTEES appeared first on Gaming and Gambling Industry in the Americas.

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2025 Gaming in Holland Conference announces headline speakers

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The 2025 Gaming in Holland Conference, which will take place June 5, 2025, at the KIT Royal Tropical Institute in Amsterdam, is proud to announce its first confirmed speakers.

The Gaming in Holland Conference is THE place to meet the key decision makers in the Netherlands’ regulated gambling market.

 

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First speakers announced

We are very happy to welcome the following key decision makers to our speaker line-up:

  • Arjan Blok, CEO, Nederlandse Loterij
  • Renske Fikkers, Head of Market Supervision, Netherlands Gambling Authority
  • Justin Franssen, Partner, Franssen Tolboom Advocaten
  • Dr. Andreas Ditsche, CEO, iGaming.com
  • Josh Hodgson, COO, H2 Gambling Capital

 

About the 2025 GiH Conference: A Change is Gonna Come?

Recently, Teun Struycken, State Secretary for Legal Protection, announced a far-reaching revision of the Dutch Remote Gambling Act.

This month, the Dutch Lower House will hold roundtable discussions on the current state of the regulated gambling market. These roundtable discussions will be followed by an in-depth debate with the state secretary on March 27.

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Naturally, this means that there will be plenty to discuss at this year’s Gaming in Holland Conference. Don’t miss it if you want to keep abreast of the latest developments.

As always, all-day networking, our traditional canal boat tour, and networking drinks at Holland Casino are included in the event.

Last but not least, the “Dutch Online Casino of the Year” award ceremony will be part of the post-conference networking drinks. Don’t miss the festivities!

 

Registration now open

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Early bird registration is now open: https://bit.ly/GiHC2025. Don’t miss it!

The post 2025 Gaming in Holland Conference announces headline speakers appeared first on European Gaming Industry News.

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