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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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SOFTSWISS Ignites Brazil with ‘Race Like a Legend’ Experience

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SOFTSWISS Ignites Brazil with ‘Race Like a Legend’ Experience

 

SOFTSWISS brought high-octane energy to São Paulo during SiGMA Americas 2025 week with “Race Like a Legend,” an exclusive motorsport experience hosted by Rubens Barrichello, the company’s Non-Executive Director in Latin America.

The thrilling event united industry leaders and partners for a day of speed, strategy, and connection – combining live demo runs performed by Rubens himself, fun races, simulators, and an authentic Brazilian BBQ.

Participants got a chance to share this unique experience with the Formula One legend, tapping into the adrenaline and emotion that define both motorsport and ambitious business partnerships.

Rubens Barrichello, Non-Executive Director in Latin America at SOFTSWISS, said: “This event was all about celebrating trust, performance, and shared goals – values that matter both on the track and in business. When you’re racing with the right people, every challenge becomes an opportunity.” 

Earlier that week, Rubens Barrichello opened the official SiGMA Americas 2025 summit with a powerful keynote address and ceremonial ribbon-cutting, marking the start of one of the most anticipated events in the industry calendar. His message focused on leadership, local expertise, and partnership as drivers of sustainable growth in Latin America.

Taking the stage with a talk titled “Success Is About Who You Race With,” Barrichello shared lessons from his racing career and reflected on how precision, teamwork, and trust fuel lasting success in business. As a token of appreciation, SOFTSWISS presented special gifts to attendees who posed the most insightful questions during the session.

During SiGMA Americas, SOFTSWISS also announced its collaboration with legendary motorsport brand Sparco, resulting in a limited-edition casual apparel collection inspired by the iconic career of Rubens Barrichello. 

 

About SOFTSWISS

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SOFTSWISS is an international technology company with over 15 years of experience developing innovative solutions for the iGaming industry. SOFTSWISS holds a number of gaming licences and provides comprehensive software for managing iGaming projects. The company’s product portfolio includes the Online Casino Platform, the Game Aggregator with over 27,800 casino games, the Affilka Affiliate Platform, the Sportsbook Software and the Jackpot Aggregator. In 2013, SOFTSWISS revolutionised the industry by introducing the world’s first Bitcoin-optimised online casino solution. The expert team counts over 2,000 employees.

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Network Gaming partners with Better Collective to launch pioneering gaming ecosystem

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Network Gaming partners with Better Collective to launch pioneering gaming ecosystem

 

Network Gaming and BolaVIP launch groundbreaking mobile gaming platform, Ligavip, for Brazilian sports fans

Network Gaming, the next-generation sports games studio, has announced the launch of its mobile-first gaming platform in partnership with Bolavip, one of Brazil’s largest sports media brands and part of the global sports media group Better Collective.

This launch marks a bold step into new territory for Network Gaming — entering the Brazilian market for the first time, and doing so on a mainstream stage that reaches millions of passionate fans. The collaboration sets the scene for a new category of mobile sports games, built for mass appeal and designed to deepen engagement across Bolavip’s vast audience.

Timed to coincide with the start of the main football championship in Brazil, the debut of the Ligavip platform delivered standout early results, including a 15% conversion rate from unique visitors to registered users in its opening weekend.

Unlike traditional models, Ligavip is not tethered to betting. Instead, it opens up an innovative source of new revenues for Better Collective by offering free-to-play games powered by branded prizes, such as shopping vouchers from one of the country’s top sports retailers, awarded to the best performers in Ligavip challenges. Players can compete for rewards, challenge their friends for bragging rights, and monitor their performance on live leaderboards in a community-first environment.

“We’re stepping onto a new stage — launching in Brazil, partnering with one of the most influential sports media groups in the world, certainly in terms of incoming traffic to its assets, and thereby pushing our platform into the mainstream,” said Harry Collins, CEO of Network Gaming. “This is a defining moment for us. It’s not just about great gameplay; it’s about creating sustainable entertainment ecosystems built around loyalty, fun, and fan connection.”

The launch also signals a new phase of development for Network Gaming’s broader platform ambitions. With Ligavip, the company will now be building out advanced meta mechanics — systems layered on top of gameplay such as daily rewards, progression loops, and upgrades — designed to boost long-term retention. Combined with powerful social features like leaderboards, invite-a-friend mechanics, and community leagues, these systems turn simple games into sticky, social experiences.

TomĂĄs Vaz de Carvalho, COO South America at Better Collective, said: “We’re thrilled to be working with Network Gaming to bring a new kind of interactive sports experience to Brazil. This is about engaging fans in a fresh, rewarding way — and opening up new commercial avenues that align with global digital trends. Gaming is now a key pillar in many media strategies, and this partnership puts us right at the forefront.”

As traditional media looks for new ways to engage and monetise its audience, initiatives like Ligavip are becoming a strategic pillar. (The New York Times now generates more revenue from its games portfolio than its core news content.) This collaboration allows Better Collective and Network Gaming to stay ahead of the curve — creating experiences that are fun, valuable, and aligned with global digital entertainment trends.

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BETBY SHINES AT SiGMA AMERICAS WITH LOCALISED STRATEGY AND WINS ESPORTS AWARD

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BETBY SHINES AT SiGMA AMERICAS WITH LOCALISED STRATEGY AND WINS ESPORTS AWARD

 

BETBY, the cutting-edge sportsbook provider, has further cemented its position as one of the most innovative suppliers in the sports betting landscape following a standout appearance at SiGMA Americas, the leading event for the iGaming industry in Latin America.

Hosted in SĂŁo Paulo, Brazil, SiGMA Americas brought together the industry’s most influential stakeholders, with a spotlight on the dynamic and fast-growing Latin American market. BETBY stood out at the event by showcasing the full strength of its flexible sportsbook solution, designed to empower operators with complete control over the betting experience.

A major highlight of the exhibition was BETBY’s showcase of its hyper-localised content capabilities, which empower operators to engage regional audiences with culturally relevant offerings. This strategic focus was exemplified by the industry’s most comprehensive Vaquejada betting solution, a rodeo-style sport particularly popular in northeast Brazil. BETBY’s unique content portfolio, which includes both pre-live markets and an immersive e-sim version of the sport, resonated strongly with operators and attendees. It demonstrated not only a deep understanding of regional preferences, but also the supplier’s ability to create tailored content for any market.

Alongside this, BETBY exhibited continued innovation through its proprietary esports feed BETBY Games, and its comprehensive suite of AI tools AI Labs, which leverages artificial intelligence to deliver personalisation, real-time recommendations, and enhanced operational efficiency.

As further recognition of its ongoing innovation in the iGaming industry, BETBY was honoured with the Best Esports Product award during the SiGMA Americas Awards ceremony. This win underscores BETBY’s vision to redefine the esports betting experience through its BETBY Games solution, which is designed to deliver unmatched flexibility, customisation, and engagement for operators and players.

“This recognition at SiGMA Americas is a proud milestone for our entire team, even though our presence in Brazil this week was about much more than awards,” said Leonid Pertsovskiy, BETBY’s Chief Executive Officer. “It was about connecting with the region, understanding what local players truly value, and showing that we have the technology and vision to meet those needs. We’re building products that scale globally but connect locally, and that’s what sets BETBY apart.”

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