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SharpLink Gaming Announces Second Quarter 2024 Financial Results

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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 financial results for the three and six months ended June 30, 2024.

Rob Phythian, Chairman and CEO of SharpLink, stated, “The first half of 2024 has largely been marked by our Company’s efforts to materially strengthen our balance sheet, and narrow our focus on our performance-based marketing business through several strategic initiatives, namely:

  • The sale of our SportsHub Games Network and sports games development businesses in January of this year for $22.5 million in an all-cash transaction;
  • The extinguishment of all interest-bearing debt;
  • The raising of $71,356 from our At-the-Market Offering during the first six months of this year; and
  • The receipt of $297,387 in an earn-out accrued in June 2024 and paid in July 2024, which related to our sale of MTS, SharpLink’s legacy telemanagement solutions business sold to EntryPoint South Ltd. in December 2022.”

Continuing, Phythian said, “As a result, SharpLink has emerged with a very lean operating base that is free of debt, and we have a management team and Board of Directors equally committed to pursuing strategic growth opportunities capable of increasing shareholder value over the long-term.”

Financial Highlights

  • Revenues for the three and six months ended June 30, 2024 totaled $981,272 and $1,957,218, respectively – a 27% and 24% decline from revenues of $1,343,526 and $2,576,287 reported for the comparable three and six month periods in 2023, respectively.
  • Operating expenses decreased 31% to $1,484,680 from $2,136,936 for the comparable three-month reporting periods; and declined 17% to $3,456,755 from $4,182,270 for the six months ended June 30, 2024 and 2023, respectively.
  • After factoring net income from discontinued operations of $453,705, net losses dropped to $462,959 for the three months ended June 30, 2024 from net losses of $3,441,158 after factoring net losses from discontinued operations of $1,035,099 for the same three-month period in 2023. For the six months ended June 30, 2024, net income totaled $11,887,397 after factoring net income from discontinued operations of $14,564,872 – significantly up from a net loss of $6,264,904 inclusive of the net loss from discontinued operations of $1,701,662 posted for the same six month period in the prior year.
  • As of June 30, 2024, cash on hand was $2,435,600 and total stockholders’ equity was $2,760,915. This compared to $2,487,481 cash on hand and total stockholders’ deficit of $9,399,769 as of December 31, 2023.

Blitzcrown

Blitzcrown Secures GLI Certification for Three Crash Games in Brazil

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Breaking New Ground in Brazil: Blitzcrown’s Crash Games Now GLI Certified

Blitzcrown, MVG’s pioneering games studio, has secured Brazilian Certification as well as GLI-19 Certification from GLI(Gaming Laboratories International) for its industry-changing three Crash titles. This landmark achievement marks a significant milestone in the company’s expansion into Brazil’s thriving online gaming market, positioning Blitzcrown at the forefront of the region’s rapidly evolving iGaming landscape.

The license comes at an important time for Brazil’s gaming sector, following the launch of the new licensing regime that started on January 1, 2025. The regulatory framework, signed into law in December 2023, has transformed the industry’s prospects.

The certification encompasses 3 innovative crash games: Crash, Fast Crash, and Twin Crash. This strategic milestone establishes Blitzcrown as the premier provider of certified Crash games in the Brazilian market, demonstrating the company’s unwavering commitment to regulatory excellence and gaming integrity. With the GLI-19 and Brazil certification process successfully concluded in March, Blitzcrown has solidified its position as an industry pioneer in this dynamic and emerging market.

Crash games are a recent addition to the global iGaming market, featuring the dynamic evolution of real-time multipliers and immediate reward structures. Blitzcrown has stood out by establishing groundbreaking game mechanisms that offer different and exciting gameplay experiences. Standard Crash provides players with a standard multiplier-based gaming experience, and Fast Crash is optimized for users seeking quick, intense multiplier experiences. The Twin Crash is an original format allowing players to place simultaneous bets on two separate multipliers.

Building on this momentum, Blitzcrown has announced plans to expand its certified portfolio with two additional versions of its innovative Plinko games, demonstrating the company’s strategic commitment to market expansion. This forward-looking initiative underscores Blitzcrown’s dedication to continuous innovation and sustainable growth in the regulated gaming markets.

Blitzcrown is MVG’s edge-game studio focused on pushing game ideas beyond their norms through innovative and non-traditional gaming experiences. The studio has been particularly recognized for its groundbreaking approaches in various game categories, including its successful Crash and Plinko series.

George Cho from MVG said: “This GLI certification testifies to Blitzcrown’s unwavering commitment to offering top-quality, fair gaming systems. We are well placed to take advantage of Brazil’s exciting new regulatory environment and the vast growth potential of the online gaming industry.”

The post Blitzcrown Secures GLI Certification for Three Crash Games in Brazil appeared first on Gaming and Gambling Industry in the Americas.

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Andres Troelsen Belatra Games’ Commercial Director for Latin America

Belatra excited to present LatAm innovations at BiS SiGMA Americas 2025

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Belatra Games, the specialist online slots developer, is set for its latest appearance at BiS SiGMA Americas in São Paulo, Brazil, from April 7-10, 2025. The company will be based at Stand M30, where it will not only showcase its LatAm innovations but also celebrate its 32nd birthday.

This major milestone brings an extra layer of excitement to Belatra’s time in Brazil. iGaming professionals visiting the stand will enjoy an immersive experience inspired by the studio’s popular classics Make it Gold and Mummyland Treasures. Belatra’s stand includes a smoky bar for a mysterious touch, a prize-filled game for visitors, and a live Mummy roaming the event floor to bring the experience to life.

Belatra’s extensive portfolio of award-winning titles brings together timeless hits with powerful, innovative themes, providing unforgettable entertainment for players.

With a strong foothold in LatAm, Belatra’s regional team, based in Buenos Aires, and Belatra’s global team will be in São Paulo to explore new collaborations and showcase its localised approach to the market.

Andrés Troelsen, Belatra Games’ Commercial Director for Latin America, said: “Our Latin American presence grows ever stronger with the region forming a major part of our growth strategy. We’re happy to be back in São Paulo for BiS SiGMA Americas to connect with partners and explore new opportunities. This year is extra special as we celebrate our 32nd birthday, so come raise a glass with us at our smoky bar!”

The post Belatra excited to present LatAm innovations at BiS SiGMA Americas 2025 appeared first on Gaming and Gambling Industry in the Americas.

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EveryTip.com Hits Major Milestone Ahead of Grand National with Record Tipster Listings

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Launched just last month at the beginning of March, EveryTip.com is already celebrating a major early milestone, just in time for this week’s Grand National. The platform has quickly gained traction as a go-to hub for UK bettors, offering a centralised source of high-quality football and horse racing tips.

EveryTip.com brings together expert insights from a wide range of trusted sources, including leading tipsters from the Racing Post, Timeform, and The Guardian, as well as independent professional punters and specialist betting sites. Whether users are looking for daily value picks or tips for the biggest race of the year, EveryTip.com simplifies the search for reliable betting advice.

In addition to its extensive tipster coverage, the platform offers:

  • Daily NAPs (best bets from proven experts)
  • A real-time tipster leaderboard, tracking performance and profitability
  • Full race cards and live odds comparison
  • Results and up-to-date free bet offers from major bookmakers

Stephen Welch, Operations Director at EveryTip.com, said: “We’re thrilled to have reached this milestone so soon after launching. With the Grand National approaching, it’s clear that there’s strong demand for a platform that brings together quality tips from household names,along with independent analysis, all in one place.”

Created by a team of professional tipsters and analysts, EveryTip.com is committed to helping users bet smarter by making expert insights more accessible. Its early growth reflects a wider trend among punters who want deeper insights and performance transparency when choosing who to trust.

Looking ahead, the platform plans to expand into additional sports and betting markets, building on its expert-led foundation.

“We want EveryTip.com to become the essential tool for all serious bettors,” Welch added. “We’ll continue to grow the site with more data-driven tools, expanded coverage, and exclusive offers that add real value.”

The post EveryTip.com Hits Major Milestone Ahead of Grand National with Record Tipster Listings appeared first on European Gaming Industry News.

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