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SharpLink Gaming Reports Full Year 2024 Financial Results

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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.

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LuckBet Named Master Sponsor of LFA 209, Marking MMA History in Mato Grosso

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LuckBet Becomes Master Sponsor of LFA’s Historic Debut in Mato Grosso

 

Rising sports betting platform LuckBet has been announced as the master sponsor for LFA 209, the first edition of the Legacy Fighting Alliance (LFA) to be held in Mato Grosso, Brazil. The event, widely known as the top development platform for future UFC fighters, takes place May 24 at the Malai Manso Resort, in Chapada dos GuimarĂŁes, and represents a major milestone for mixed martial arts in the region.

The sponsorship deal includes on-site brand visibility, exclusive content for social media, and live activations during the event, which will be broadcast live and exclusively on UFC Fight Pass.

“We’re proud to be the only betting company from Mato Grosso legally operating in Brazil,” said Ivan Dutra, CEO of LuckBet. “This sponsorship is a strategic move to connect with a new audience while promoting a globally respected sport. It’s even more meaningful as the LFA makes its debut in our home state.”

High Stakes in the Cage

LFA 209’s main event features Brazilians Inglesson De Lara and Bruno “Xinoco” Henrique, battling it out in the featherweight division. The event marks LFA’s 22nd event in Brazil since expanding internationally in 2021 and is the second time the promotion touches down in the Central-West Region, following a prior event in the Federal District.

This edition is supported by the Mato Grosso Secretary of Culture, Sports and Leisure (SECEL-MT) and held at the Malai Manso Resort, the only all-inclusive resort in the Central-West certified by the Brazilian Resorts Association (ABR).

Broadcast starts at 9 PM (Brasília time) / 8 PM (Mato Grosso time) and features live Portuguese commentary by UFC legend and ambassador Rogério Minotouro.

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7K Named Official Betting Sponsor of PaulistĂŁo Feminino 2025

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7K Becomes Exclusive Betting Sponsor of 2025 PaulistĂŁo Feminino Championship

 

The 2025 Paulistão Feminino, Brazil’s premier state-level women’s football championship, kicked off this Tuesday, May 6, and brings with it a historic partnership: 7K, a brand under the Ana Gaming Group, has joined as the exclusive betting sponsor of the tournament.

This move further reinforces 7K’s growing presence in national football, as it also sponsors Santos FC’s women’s team, positioning itself as a strong backer of women’s sports in Brazil.

“We believe in the transformative power of sport and its societal impact,” said Talita Lacerda, Chief Operating Officer at Ana Gaming Group. “Supporting Paulistão Feminino at this pivotal time of growth and visibility reflects our commitment to gender equity and diversity. Women’s football is finally gaining the space it deserves, and 7K is proud to contribute to this important journey alongside such prominent brands.”

Record-Breaking Investment and Visibility in 2025

This year’s edition sees a record investment, surpassing the R$8 million of 2024. The total club distribution increases to R$3.3 million, with the champions receiving R$840,000 and runners-up awarded R$350,000 in prize money.

The competition features eight powerhouse teams:

  • AD TaubatĂ©

  • Corinthians

  • FerroviĂĄria

  • Palmeiras

  • Realidade Jovem

  • Red Bull Bragantino

  • Santos

  • SĂŁo Paulo

Broadcast and Media Coverage

For the first time, all matches of the PaulistĂŁo Feminino will be televised or streamed. The tournament will be broadcast by SporTV, TV Globo, Record News, Warner (via Max and Space), as well as digital channels like CazĂ©TV and the official PaulistĂŁo YouTube channel, expanding the reach of women’s football like never before.

A New Era of Sponsorships

The 2025 edition also breaks the record for number of sponsors, with seven brands backing the competition—up from five in 2024. In addition to 7K and Sicredi (which holds the naming rights), sponsors include Amazon, Assaí, Centauro, Guaraná Antarctica, and Lays.

Previously, 7K gained major visibility during the 2025 Campeonato Paulista (men’s) by sponsoring the tournament and securing the naming rights for the “Man of the Match” trophy, further showcasing its dedication to Brazilian football at all levels.

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TaDa Gaming Extends Brazilian Footprint with inplaySoft Deal

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TaDa Gaming has reinforced its strong presence in Brazil through latest partnership with mobile focused platform provider, inplaySoft.

Building its name across Latin America with an exciting, expertly localised and diverse portfolio of 180 RNG casino games, including its industry changing fishing-shooting titles and high impact gamification tools GiftCode and WIN CARD, TaDa products are renowned for driving engagement, retention and differentiation in multiple jurisdictions including Europe, Africa and, most recently, the US.

Established in 2021, inplaySoft’s impact on iGaming in Brazil has already been recognised with its first SBC LatinoamĂ©rica Rising Star in Sports Betting Award. The certified and accredited provider is renowned for its multi-tenant platform including casino content, sportsbook and efficient data management.

Ray Lee, Director of Business Development at TaDa Gaming, said: “We are delighted to be partnering with inplaySoft. Their commitment to tech innovation for outstanding quality experiences is perfectly aligned with our brand ethos. We are excited to be working together.”

Dan Stone, Marketing Director of inplaySoft, said: “We are dedicated to continuous improvement; crafting the best possible iGaming platform solutions across casino and sportsbook and providing first-class customer service and support. Working with a tier one provider such as TaDa brings a new dimension to our offering and we anticipate delivering exceptional gaming together.”

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