Press Releases
SharpLink Gaming Announces Second Quarter 2024 Financial Results
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.
Gregg Klein
HARRAH’S RESORT ATLANTIC CITY WELCOMES BACK THE WORLD SERIES OF POKER® FOR A WSOP CIRCUIT STOP THIS AUGUST
The post HARRAH’S RESORT ATLANTIC CITY WELCOMES BACK THE WORLD SERIES OF POKER® FOR A WSOP CIRCUIT STOP THIS AUGUST appeared first on Gaming and Gambling Industry in the Americas.
ACR Poker
ACR POKER LAUNCHES ‘MONEYMAKER MAY-HEM’, OFFERING PLAYERS A CHANCE TO JOIN CHRIS MONEYMAKER IN LAS VEGAS FOR $10K MAIN EVENT
As the Sunday Moneymaker tourney approaches its one-year anniversary this summer, ACR Poker is launching a month-long pre-celebration this May with the Moneymaker May-Hem. This promo gives players a chance to join the 2003 WSOP Main Event Champion and poker legend Chris Moneymaker for a once-in-a-lifetime VIP experience during the Main Event of Vegas’ hottest summer series.
Throughout the month of May, every player who plays a $109 buy-in Sunday Moneymaker on ACR Poker and reaches a final table in any of the weekly events will earn a spot in a Final Sit & Go Showdown on Sunday, June 1st at 4pm ET.
The Final Sit & Go winner will receive a VIP package complete with a $10,000 buy-in to the Vegas Main Event, $5,000 cash for travel and other expenses, and the chance to meet Chris Moneymaker in Las Vegas. Second and third place finishers will receive $109 Sunday Moneymaker Tickets.
“The Sunday Moneymaker has become something really special, and it’s been incredible to watch it grow since we launched it last year,” said Moneymaker. “This May promo is a huge thank you to our community and every player who’s been part of this ride. I’m looking forward to welcoming the winner in Vegas, talking strategy, and hopefully celebrating a deep run in the Main Event together.”
The Sunday Moneymaker, which launched in July 2024 to honor ACR Pro and poker icon Chris Moneymaker, has quickly grown into one of ACR Poker’s weekly signature events. Since its debut, the Sunday Moneymaker has already attracted over 78,000 entrants and awarded more than $13 million in total prize money. The tournament features a $300,000 guarantee every Sunday, with a $400,000 prize pool on the final Sunday of each month.
Moneymaker noted that players can also qualify for each Sunday Moneymaker through ACR Poker’s satellites in the hours before every tournament, with paths starting at freerolls ($0), Micro Hyper Sats ($1.05, $2.10), and Mega Satellites ($11, $22) offering guaranteed $109 seats.
For poker players looking to follow the action, the Final Sit & Go Showdown will be live-streamed on ACR’s Twitch channel on Sunday, June 1st.
The post ACR POKER LAUNCHES ‘MONEYMAKER MAY-HEM’, OFFERING PLAYERS A CHANCE TO JOIN CHRIS MONEYMAKER IN LAS VEGAS FOR $10K MAIN EVENT appeared first on Gaming and Gambling Industry in the Americas.
Industry Awards
Soft2Bet Wins Three Major Awards at The European – Global Banking & Finance / Sustainability & ESG Awards 2025
Soft2Bet has been recognised for its technological and industrial leadership, winning three prestigious awards at The European – Global Banking & Finance / Sustainability & ESG Awards.
These recognitions reflect Soft2Bet’s drive for technological innovation, customer excellence, and its firm commitment to compliance, including AML, and sustainable practices across key European markets.
- Pioneering Visionary in the iGaming Industry 2025: Recognising Soft2Bet’s leadership in developing next-generation gaming solutions, driving industry growth, and strong commitment to compliance with international financial standards.
- Outstanding Customer Support in iGaming 2025: Highlighting its dedication to providing an unparalleled and localised player experience through advanced support systems and multilingual service teams
- Innovation Leader in Responsible Gaming and Sustainability 2025: Acknowledging its commitment to responsible gaming, regulatory compliance, and sustainable business practices, Soft2Bet has built a strong reputation as a compliant, innovative, and customer-focused iGaming provider
Soft2Bet and its leadership team have already established themselves as an award-winning visionary in a highly competitive industry, which operates under 19 licenses across 12 jurisdictions, demonstrating its strong commitment to regulatory compliance and responsible gaming and offering state-of-the-art gaming solutions powered by its data-driven proprietary technology.
With a robust AML framework, advanced transaction monitoring systems, and real-time risk assessment tools, Soft2Bet ensures that all financial processes are secure, compliant, and transparent. This proactive approach protects the company’s ecosystem and safeguards its financial partners.
The company is the leader in highly competitive markets such as Denmark, Sweden, Greece, Romania, Spain, Ontario (Canada) and others, redefining iGaming through technology and a fresh market approach, developing AI-driven personalisation to offer a distinctive level of player engagement, setting enhanced security measures, and cutting-edge responsible gaming tools, and setting new standards in the sector and beyond.
Max Portelli, Soft2bet’s Chief Financial Officer, stated, “We are honoured to receive this recognition from across industries, which reflects our relentless DNA of innovation, our customer-first approach, and our commitment to responsible gaming. This inspires us to continue delivering data-driven, customised solutions for players and partners.”
A partner’s reputation can make all the difference, affecting everything from how fast transactions move to how confidently businesses can scale. These awards strengthen Soft2Bet’s position as a forward-thinking and reliable name in the industry and further reinforce its reputation as a visionary and trusted industry leader.
Soft2Bet’s continuous focus on sustainability, compliance, and innovation reinforces its position as an industry leader. The company integrates sustainable development principles into its operations, ensuring long-term value for its partners and players. Further still, Soft2Bet is planning on expanding its presence in different markets, such as North America (New Jersey).
The post Soft2Bet Wins Three Major Awards at The European – Global Banking & Finance / Sustainability & ESG Awards 2025 appeared first on European Gaming Industry News.
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