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.
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Club Atlético River Plate and Betano Announce Long-Term Principal Partnership

Club Atlético River Plate and Kaizen Gaming, one of the world’s biggest GameTech companies and owner of the Betano online sports betting and gaming brand, announce a new long-term partnership that will see Betano become the club’s new main and front-of-shirt partner, starting from the current season.
The new partnership with River Plate follows an exciting year for Kaizen Gaming and its Betano brand, which launched in Argentina just a year ago and is already regarded as one of the country’s leading online gaming platforms. Alongside expanding its sponsorship programs, corporate social responsibility initiatives, and growing market presence, Kaizen Gaming has also solidified its role as a pioneer in shaping the online gaming industry internationally and fostering safe, controlled environments for players.
For River Plate, this agreement represents a strategic step in its international expansion and in the diversification of its revenue streams. In this regard, the alliance with Betano is a clear example of the club’s commitment to innovation, excellence, and building strong relationships with leading global brands.
Jorge Brito, President of River Plate, said: “Partnering with Kaizen Gaming and its brand Betano marks a significant milestone for us. Their presence in 19 international markets aligns perfectly with our global vision. Through its sponsorships of the CONMEBOL Copa América™ 2024 and the Argentine Professional Football League’s “Torneo Betano”, Kaizen Gaming has reinforced its leading role in the world of sports. River Plate is also a global leader in sports marketing, backed by a passionate fan base, an iconic stadium and an unmatched record of over 85 consecutive sold-out home matches. We are proud to be the most followed club in the world. With this partnership, we continue to grow, break new ground, and we’re excited to welcome Betano to the River Plate family.”
Stefano Di Carlo, River Plate’s General Secretary, added: “This agreement is the result of a long-term strategy we have been developing to consolidate the club as a global leader, backed by its institutional strength and more than 120 years of sporting success. The fact that an international brand like Betano has selected us as its partner speaks volumes about the strength of the River Plate brand worldwide and the confidence our institutional and sporting project inspire.”
Julio Iglesias, Chief Commercial Officer at Kaizen Gaming, said: “River Plate is a global footballing institution with one of the largest fan bases in the world and a history dating back over 120 years. As soon as we started speaking with the club, we knew we had found a partner who shared our values and relentless drive to raise the bar and set the highest standards in everything they do. The club and its fans’ passion for football is second to none, and it is exciting to be joining them on the next chapter of their illustrious history. At Betano, we are always aiming for the top.”
The new partnership expands beyond marketing activities. Kaizen Gaming continues to join its partners in driving positive social impact in local communities, whilst promoting the value of responsible gaming.
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CT Gaming Strengthens Its Presence with New Installations in Venezuela

CT Gaming continues its successful expansion in Latin America with a series of new installations across Venezuela. The company’s top products can now be found at prominent venues in Caracas, Guatire, and Puerto Ordaz.
Following the strong performance and strategic installations across several Latin American countries, CT Gaming is reinforcing its footprint in the region. Leading gaming establishments in Venezuela are now equipped with the EZ Modulo 32/32/32 slot cabinet and the newest addition to the renowned Diamond King series – Diamond King 4.
The multigame pack offers players a curated mix of 40 titles, blending classic favorites with innovative new games such as Zet Fruits, Clovers on Fire, and more. Notably, half of the titles are linked to the Diamond Tree Deluxe progressive jackpot, which provides players with enhanced gameplay features and the opportunity for exciting rewards. Another highlight of Diamond King 4 is the debut of the Buy Bonus feature, offering players direct access to bonus rounds and an elevated level of engagement and winning potential.
“Introducing Diamond King 4 to Venezuela is an important step in our development strategy, as the product strongly reflects our company’s strengths. Along with the other installations accomplished earlier this year, this launch further strengthens our presence and commitment to the Latin American market,” stated Roberto Muñoz, Regional Representative at CT Gaming.
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LuckBet Launches New TV Commercial Starring Caio Castro on Sportv and Globoplay

The Brazilian sports betting brand doubles down on its national presence with a humorous new campaign spotlighting customer benefits, responsible gaming, and celebrity appeal.
One of Brazil’s rising names in the online betting industry, LuckBet, has launched a new nationwide advertising campaign featuring acclaimed actor and motorsport enthusiast Caio Castro. The commercial, which blends humor with strategic brand messaging, is now airing on Globoplay and will debut on Sportv.
The witty commercial stars Caio Castro in a creative split-role talk show, where he plays both the host and the guest. While only one version of him gets to talk (the host, of course), the dialogue cleverly introduces LuckBet’s key strengths—focusing on entertainment, trust, and unique player benefits.
“Caio Castro communicates our message with natural charisma and humor, while staying aligned with our brand’s core values: entertainment, simplicity, and responsibility,” said Ivan Dutra, CEO of LuckBet. “This new commercial is fast-paced, engaging, and truly represents who we are as a company.”
LuckBet: A Responsible and Player-First Betting Platform
As the only betting operator from Mato Grosso officially listed by Brazil’s Ministry of Finance, LuckBet offers a wide range of player-centric features. These include:
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Unlimited withdrawals
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24/7 humanized customer support
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Weekly cashback on losses
LuckBet’s informal, street-smart communication style—rich in slang and expressions familiar to younger audiences—helps it stand out in Brazil’s crowded iGaming market. This distinctive approach is designed to foster a more authentic connection with bettors across all touchpoints.
Celebrity-Driven Brand With Social Impact
Since its founding in 2021, LuckBet, headquartered in Cuiabá, Mato Grosso, has rapidly grown its reputation through high-profile partnerships and sponsorships, including support for Cuiabá EC football club. Alongside Caio Castro, the brand also works with rapper PKFreestyle and sports journalist Isa Pagliari to broaden its appeal.
Importantly, LuckBet is a strong advocate for Responsible Gaming, offering tools such as self-exclusion, reality checks, and integrations with international support organizations like Gambling Therapy and GambleAware. The company adheres strictly to Brazil’s 2025 gambling regulations, operating transparently under newly defined federal guidelines.
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