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.
Rapidly Expanding Content provider announces landmark deal with Brazilian operator Pixbet
Popular iGaming content provider BGaming is thrilled to unveil a partnership with Pixbet, one of the most established and popular online sports betting and casino operators in Brazil.
This strategic partnership will see BGaming’s portfolio of innovative and top-performing iGaming content integrated into Pixbet’s platform, providing Brazilian players access to some of the most cutting-edge gaming content on the market.
Per the deal, Pixbet players will gain full access to BGaming’s entire portfolio, including hit titles such as Snoop Dogg Dollars, Aztec Clusters, and Fruit Million, along with any exciting new games developed by BGaming in the future. This will enhance Pixbet’s offering and help BGaming establish a foothold and reputation as one of the most innovative providers in the Brazilian market.
The deal seals a landmark moment for BGaming, who recently announced their licensing approval to enter the South American market. Pixbet is the largest sports betting platform in the region and has a strong international presence. Its online casino is hugely popular, ensuring plenty of players in the market will gain access to BGaming’s award-winning products.
Paulina Hovar, Sales Manager at BGaming, said: “Expanding our presence in Brazil is a key priority, and we aim to strengthen our position by working with top-tier operators in the region. By partnering with a leading company like Pixbet, we are ensuring as many players have access to our products as possible.
Pixbet is a major player in Brazil, and this partnership is a huge opportunity to make significant waves. We are beyond excited to see how Pixbet players react to our games.”
Ernildo Junior de Farias Santos, CEO at Pixbet, said: “At Pixbet, we are always seeking innovative and high-quality content to enhance our players’ gaming experience. BGaming has already made an impact in Brazil, and we are excited to expand our offering with its creative and dynamic portfolio.
This partnership will allow us to provide our players with even more thrilling gaming options, and we look forward to seeing how they engage with BGaming’s top-tier content.”
The post BGaming Expands into Brazil with Pixbet Partnership appeared first on Gaming and Gambling Industry in the Americas.
2025 is full of iGaming events, and this time CreedRoomz is heading to SAGSE LatAm 2025 taking place on 19-20 March in Buenos Aires, Argentina.
During SAGSE LatAm at stand 162, CreedRoomz will showcase its entire game portfolio, featuring a wide selection of live casino classics such as Roulette, Blackjack, Baccarat, and more. In addition to these favourite games, CreedRoomz will be debuting its latest show games, Richie Roulette and Richie Wheel. These new titles offer dynamic, interactive experiences with engaging mechanics and stunning visuals.
Looking ahead to 2025, CreedRoomz will share its vision for the future of live casino entertainment, including the introduction of even more exciting games and enhancements to its existing offerings.
As part of this growth, CreedRoomz has recently achieved a key milestone with its certification in Argentina’s Buenos Aires Province. This certification ensures that CreedRoomz’s games meet the regulatory requirements and standards for safe and fair play in the region.
CreedRoomz invites all industry professionals, operators, and partners to visit Stand 162 at SAGSE LatAm 2025 to explore the latest game live casino offerings, discuss future developments, and discover how CreedRoomz can elevate their gaming operations.
The post CreedRoomz Takes Part in SAGSE LatAm 2025 appeared first on Gaming and Gambling Industry in the Americas.
SOFTSWISS, an international technology company providing software solutions for iGaming, announces its participation in SiGMA Americas – one of the largest and most influential industry events in the Western Hemisphere. The event will be held in São Paulo, Brazil, from 7 to 10 April.
Participation in the expo highlights SOFTSWISS’ expansion in the Latin American iGaming market. The company recently secured certification in both Brazil and Peru for the SOFTSWISS Game Aggregator and obtained Brazilian certification for its Jackpot Aggregator. The company has also strengthened its ties in the region through a partnership with rising motorsport talent Eduardo Barrichello for the 2025 FIA World Endurance Championship (WEC).
Rubens Barrichello, Non-Executive Director in Latin America at SOFTSWISS, will join the team working at the company’s Stand M85. He will also make a special appearance as a keynote speaker at the SiGMA Conference, sharing unique industry insights and perspectives from his legendary racing experience.
Rubens Barrichello, Non-Executive Director in Latin America at SOFTSWISS, comments: “Latin America is a continent of unlimited energy, passion, and creativity. The rapid growth of the iGaming industry reflects this perfectly. I’m eager to share my perspective at SiGMA Americas and excited to talk about how SOFTSWISS’ drive for technology and excellence will contribute to shaping the future of this market.”
SOFTSWISS heads to SiGMA Americas with its new ‘Engineered for Success’ campaign, inspired by Formula 1. The creative concept reveals the company as a technology partner that creates high-performing software solutions, where every detail is as precisely engineered as in an F1 car.
Olga Resiga, Chief Business Development Officer at SOFTSWISS, shares: “We are excited to bring our ‘Engineered for Success’ campaign and our best software solutions to SiGMA Americas, a key gathering place for our industry leaders on this continent. Our team is looking forward to meeting partners and prospective clients and building a thriving business in Latin America together. We can’t wait to reveal more of our technologies and our vision for the future of this market.”
SOFTSWISS invites all attendees to book a meeting at Stand M85 to explore how its technology-driven solutions can help operators engineer successful iGaming projects.
About SOFTSWISS
SOFTSWISS is an international technology company with over 15 years of experience developing innovative solutions for the iGaming industry. SOFTSWISS holds a number of gaming licences and provides comprehensive software for managing iGaming projects. The company’s product portfolio includes the Online Casino Platform, the Game Aggregator with over 27,800 casino games, the Affilka Affiliate Platform, the Sportsbook software and the Jackpot Aggregator. In 2013, SOFTSWISS revolutionised the industry by introducing the world’s first Bitcoin-optimised online casino solution. The expert team counts over 2,000 employees.
The post SOFTSWISS Brings Engineering for Success to SiGMA Americas appeared first on Gaming and Gambling Industry in the Americas.
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