Latest News
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.
Industry News
Gaming and Leisure Properties Inc. Names Carlo Santarelli Senior Vice President, Corporate Strategy and Investor Relations
Gaming and Leisure Properties Inc. announced that Carlo Santarelli has been appointed Senior Vice President, Corporate Strategy and Investor Relations, a new position at the Company. Mr. Santarelli will begin his new position on August 18, 2025 and will report to GLPI President and Chief Operating Officer, Brandon Moore.
Mr. Santarelli brings over 25 years of Wall Street experience in Equity Research and Investment Banking to his new role and joins the Company from Deutsche Bank where he was Managing Director of Gaming & Lodging Equity Research. Prior to Deutsche Bank, Mr. Santarelli held similar positions at Bear Stearns, JP Morgan and Wells Fargo. He consistently ranked highly in Institutional Investor and other sell-side analyst research polls as a thought leader in the space, providing unique perspectives on industry events and trends with his data-driven approach and stock picking talent. Carlo Santarelli graduated from the University of Pennsylvania with a B.A. in Economics in 2000.
Peter Carlino, Chairman and Chief Executive Officer of GLPI, said: “We’ve known and respected Carlo’s research work on the gaming, lodging and gaming REIT sectors for many years. Carlo brings to GLPI an in-depth knowledge of the industry and its participants, having experienced GLPI’s original formation of the gaming triple-net-REIT structure from a research analyst and capital markets perspective. We value his deep network of contacts among institutional investors, sell-side analysts and a wide range of gaming industry operators and we look forward to the value of his contributions.”
In his new role, Mr. Santarelli will work with Mr. Carlino and GLPI’s senior management to develop and evaluate growth opportunities and strategic relationships, and will oversee investor relations interactions.
VIP Play, a technology-driven leader in interactive consumer engagement, announced that Jim Mackey, the Company’s Chief Financial Officer, will step down from his role, effective August 8, 2025.
The Company has initiated a transition process and is in the process of identifying a successor. Mackey will assist in an orderly transition over the coming weeks.
“We thank Jim for his contributions to the Company, particularly during a transformative period for our business. We remain focused on executing our strategic priorities, including financial visibility, operating efficiency, and delivering value to our stakeholders,” said Les Ottolenghi, CEO of VIP Play.
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.
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