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SharpLink Gaming Announces First Quarter 2024 Results and Provides Operational Update

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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 first quarter financial results for the three months ended March 31, 2024, as reported in the Company’s Quarterly Report on Form 10-Q (“10-Q”) filed with the U.S. Securities and Exchange Commission (“SEC”) on Friday, May 17, 2024.

Commenting on the results, Rob Phythian, Chairman and CEO of SharpLink, stated, “2024 kicked off being marked by a pivotal quarter defined by the successful execution of a series of initiatives. We view each of these important milestones as critical first steps in achieving the strategic transformation of our Company, enabling us to ultimately win distinction as a leading pure-play online affiliate marketing company trusted by and relied upon by our U.S. sportsbook and global casino gaming partners.”

As previously announced, on January 18, 2024, SharpLink sold its Sports Gaming Client Services and SportsHub Gaming Network (“SHGN”) business segments to RSports Interactive, Inc. (“RSports”) for $22.5 million in an all-cash transaction. As a result, the historical results for these segments were reflected as discontinued operations in the Company’s consolidated financial statements included in the 10-Q.

Financial Highlights for the Three Months Ended March 31, 2024 Compared to Three Months Ended March 21, 2023

  • Revenues from the Company’s continuing operations totaled $975,946 compared to $1,232,762.
  • Net loss from continuing operations declined 18.4% to $1,760,811 compared to $2,157,183.
  • Net income from discontinued operations, net of tax increased 2217% to $14,111,167 from a net loss from discontinued operations, net of tax of $666,563.
  • Net income totaled $12,350,345, or $3.36 income per share on a fully diluted basis – up 537% from $2,823,746, or $1.01 loss per share.

For more detailed information on SharpLink’s first quarter 2024 financial performance, please refer to Form 10-Q filed with the SEC and accessible at sec.gov or on SharpLink’s website at sharplink.com.

First Quarter 2024 Business Highlights

  • On January 18, 2024, completed sale of SharpLink’s Sports Gaming Client Services and SHGN businesses to RSports 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 8, 2024, regained full compliance with Nasdaq Continued Listing Standards.
  • 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.

Continuing, Phythian said, “Given our strengthened balance sheet; our highly engaged Board comprised of world class, accomplished business executives; and our shared commitment to a strategy that is expected to empower us to capitalize on potentially compelling growth opportunities in the sports, entertainment and media industries, SharpLink has great hopes for our Company’s future. We plan to continue to enhance our value proposition to our sportsbooks and casino operator partners, while also actively seeking opportunities to expand our iGaming affiliate marketing network into new U.S and international markets where online sports betting and casino gaming have been legalized. Moreover, we intend to continue executing our strategic transformation with clarity and focus, and in doing so, we hope to deliver strong, sustainable value creation for our fellow shareholders for many years to come.”

“Unlocking SharpLink’s next phase of growth with purpose and cost-discipline will be key to our long-term success and should provide us with greater agility as we build momentum and look to accelerate our growth prospects as 2024 unfolds. To help support our mission and continued strategic transformation, we have filed a registration statement on Form S-3 with the SEC and accompanying prospectus for an At-The-Market offering (“ATM”) which we may utilize to raise growth capital if and when market conditions permit. We have identified other measures that we may also pursue to optimize our assets and further strengthen the foundation on which we are building the ‘new’ SharpLink. Over the course of the next several months, I look forward to sharing many more details on our plans and future ambitions,” concluded Phythian.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities of SharpLink, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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Jim Allen, Chairman of Hard Rock International and CEO of Seminole Gaming, Receives Lifetime Achievement Award at East Coast Gaming Congress

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Jim Allen, Chairman of Hard Rock International and CEO of Seminole Gaming, Receives Lifetime Achievement Award at East Coast Gaming Congress

 

Jim Allen, Chairman of Hard Rock International (HRI) and Hard Rock Digital and Chief Executive Officer of Seminole Gaming, was honored with the prestigious Lifetime Achievement Award at the 28th Annual East Coast Gaming Congress (ECGC). Allen accepted the award in a ceremony at ECGC, the longest-running gaming conference in the United States, in his hometown, held at Hard Rock Hotel & Casino Atlantic City.

Allen is the seventh person to receive this award in the nearly 30-year ECGC history. ECGC honored Allen for his nearly 45-year career which has made him one of the most influential leaders in the global gaming and hospitality industry. During Allen’s tenure, Seminole Hard Rock and HRI have demonstrated exceptional hospitality and financial performance, setting industry benchmarks with their success.

Responsible for all gaming, hospitality and entertainment operations at the Seminole Tribe of Florida (STOF) since 2001, Allen has guided the development of Seminole Gaming into one of the world’s most successful casino and integrated resort operators, with seven casino locations throughout Florida, including the world’s first Guitar Hotel, which opened in October 2019.

Allen led STOF’s 2007 acquisition of HRI, the first of a major international company by a North American Indian Tribe, which has expanded its global presence from 46 to nearly 80 countries and over 300 locations including Hard Rock cafes, hotels, casinos, Rock Shops and live music venues.

“This recognition is a testament to the hard-working team at Hard Rock International and Seminole Gaming, whose dedication and passion have driven our success. I extend my deepest gratitude to the Seminole Tribe of Florida for their continued leadership and am proud of what we have accomplished – from expanding our global footprint, to innovating in the gaming and hospitality industries, and forming incredible alliances with icons in entertainment and sports. This award inspires us to continue pushing boundaries and setting new standards of excellence. Thank you to the East Coast Gaming Congress for this incredible honor,” said Allen.

Allen has led the evolution of the hospitality company that is synonymous with music entertainment to also include sports entertainment, while maintaining its deep-rooted music history. Over the last few years, Hard Rock has established strategic partnerships among the greats of Formula 1, Oracle Red Bull Racing, Lionel MessiDale Earnhardt Jr. and local sports teams. In addition, Allen was instrumental in ushering in a new era of gaming in Florida with the introduction of craps, roulette and sports betting to Seminole Hard Rock hotels and casinos.

For the upcoming FIFA World Cup 2026, Allen is serving on the Miami Host Committee Board of Directors alongside a diverse group of leaders in business development, sports management, event planning and community engagement. In 2020, Allen launched the joint venture Hard Rock Digital, an online sportsbook, retail sportsbook and internet gaming platform. Additionally, Hard Rock partnered with the Miami Dolphins ownership to brand Hard Rock Stadium and become the first casino brand to achieve NFL stadium naming rights based on Hard Rock’s perception as a hospitality and entertainment company versus just a casino company.

The American Gaming Association inducted Allen into the Gaming Hall of Fame Class of 2024 for making significant contributions to the industry. The National Association of Minority Contractors (NAMC) recognized Allen as a 2023 Unity Gala Honoree for his exceptional service to MWBE contractors. In 2020, Allen was inducted into the H. Wayne Huizenga College of Business and Entrepreneurship’s Entrepreneur and Business Hall of Fame at Nova Southeastern University in Davie, Fla. Junior Achievement of South Florida named Allen a Business Hall of Fame Laureate in 2019.

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AGS Appoints Arthur Rotziokos and Richard Orozco to Lead International Growth Efforts

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AGS (NYSE: AGS), a leading supplier of high-performing slot, table, and interactive products and services to the global gaming industry, today announced two key appointments that will significantly strengthen its international operations. Arthur Rotziokos has been appointed as the Senior Director of Product Management – Asia-Pacific (APAC), and Richard Orozco has assumed the role of Senior Director of Product Management – International. Both report to Rob Ziems, AGS’ Chief Business and Legal Officer, who oversees international business.

“With tremendous growth potential and plenty of greenfield in international markets, AGS is well-poised to seize new opportunities on the global stage. Both Arthur and Richard bring unparalleled expertise and a deep well of gaming industry experience that will be vital to AGS’ global expansion strategy. Their leadership will be instrumental as we accelerate our international reach and advance our product offerings in these key markets,” said Rob Ziems.

Arthur Rotziokos, based in Sydney, Australia, will lead AGS’ entry into the rapidly expanding APAC market. With over three decades of experience in the gaming industry, including his most recent role as Vice President of Research & Development at Light & Wonder, Rotziokos is well-positioned to drive AGS’ strategic expansion across the region. His career spans roles at leading companies such as Ainsworth Game Technology and IGT, where he developed strong industry relationships and pioneered game development initiatives that led to business growth in global markets.

Richard Orozco, an experienced leader in international product management, will oversee AGS’ global product strategies, focusing on regions such as Latin America and Europe. Orozco joins AGS with extensive experience in managing product portfolios across international markets, including his most recent role as Vice President of Product Strategy at Ainsworth Game Technology. In his new role, he will work to drive market performance, optimize product lifecycles, and strengthen AGS’ market share in key international territories.

With both Rotziokos and Orozco taking on pivotal roles, AGS is poised to build its brand and gain a foothold in key international markets, further enhancing its commitment to delivering cutting-edge gaming products and solutions to operators and players worldwide.

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HARRAH’S RESORT ATLANTIC CITY WELCOMES BACK THE WORLD SERIES OF POKER® FOR A WSOP CIRCUIT STOP THIS AUGUST

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Harrah’s Resort Atlantic City today announced it will host another World Series of Poker® Circuit stop for avid poker fans who are ready to bring their poker skills to the felt. The return of the WSOP Circuit (WSOP-C) to Atlantic City will happen from Thursday, Aug. 14, through Monday, Aug. 25.
The return of the WSOP-C to Harrah’s is notable, as the casino resort hosted the initial stop on the inaugural WSOP-C tour in 2005. The 2025-26 WSOP Circuit stop marks the first time Harrah’s Resort has hosted a stop since 2020. Before then, Harrah’s was a regular stop on the series schedule from 2005-2020.
“We are thrilled to welcome back the prestigious World Series of Poker Circuit to Harrah’s Resort and the unmatched energy, excitement, and talent it brings,” said Gregg Klein, Senior Vice President and General Manager, Harrah’s Resort. “Hosting this iconic event reinforces our commitment to delivering premier gaming experiences and positions us as a top destination for esteemed players and poker fans alike.”
Harrah’s Resort Atlantic City stands out as a premier destination on the WSOP Circuit, offering an unparalleled blend of luxury, entertainment, and culinary excellence. Over the past five years, the resort has renovated all hotel rooms and suites, ensuring guests enjoy modern, stylish accommodations. The resort is also home to vibrant nightlife at The Pool After Dark, a state-of-the-art spa, thrilling gaming promotions, and the most celebrity chef restaurants in Atlantic City, including Gordon Ramsay Steak, Bobby’s Burgers, Chicken Guy!, and Buddy’s Boardwalk Empire.
The highly anticipated regional poker tour will begin in late July, immediately following the conclusion of the 2025 World Series of Poker in Las Vegas. WSOP Circuit schedules are subject to change, and the WSOP reserves the right to make changes to all events related to the WSOP Circuit at any time. The full circuit schedule will be announced at a later date.
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