Welcome to our dedicated page for Sharplink Gaming news (Ticker: SBET), a resource for investors and traders seeking the latest updates and insights on Sharplink Gaming stock.
Sharplink Gaming Ltd (SBET) delivers performance-driven marketing solutions at the intersection of sports betting and digital technology. This news hub provides investors and industry observers with essential updates on corporate developments, strategic partnerships, and regulatory milestones.
Access real-time announcements including quarterly earnings reports, operational expansions, and technology initiatives. Our curated collection ensures transparent tracking of SBET's evolving role in sports betting affiliate marketing across U.S. and international markets.
Key updates cover content acquisition deals, platform enhancements, and market penetration strategies. Bookmark this page for structured access to press releases and third-party analyses that illuminate SBET's position in the competitive iGaming ecosystem.
SharpLink Gaming (SBET) has received an extension from the Nasdaq Hearings Panel until May 23, 2025 to regain compliance with two critical listing requirements. The company must meet the minimum bid price requirement of $1.00 per share and maintain minimum stockholders' equity of $2.5 million.
Following a hearing on February 25, 2025, the Panel granted SharpLink's request for continued listing, subject to specific conditions. The company must demonstrate compliance with both requirements and provide detailed public disclosure of any equity-increasing transactions by the deadline. Additionally, SharpLink needs to submit updated fundraising plans and 12-month income projections.
The company's common stock will remain listed and tradeable on Nasdaq during this compliance period. CEO Rob Phythian expressed satisfaction with the Panel's decision and committed to executing necessary initiatives to achieve compliance goals.
SharpLink Gaming (SBET) reported its full year 2024 financial results, showing mixed performance. Revenue declined 26.1% to $3.66 million from $4.95 million in 2023. However, the company achieved net income of $10.1 million ($2.29 per share) compared to a net loss of $14.24 million in 2023, primarily due to discontinued operations.
Key developments include the sale of Sports Gaming Client Services and SHGN businesses to RSports Interactive for $22.5 million, enabling debt reduction of $19.4 million. Operating expenses decreased 45.6% to $5.67 million. Cash position stood at $1.44 million, down 42.2% year-over-year.
The company raised $1.83 million through an At-The-Market Offering and acquired a 10% stake in Armchair Enterprises (CryptoCasino.com) for $500,000. SharpLink also completed its domestication merger, transitioning from an Israeli company to a Delaware , and initiated a strategic review process to evaluate potential business combinations.
SharpLink Gaming (Nasdaq: SBET) has acquired a 10% equity stake in Armchair Enterprises, owner of CryptoCasino.com, for $500,000 in cash. The deal includes a right of first refusal to acquire a controlling interest in the UK-based company. This investment marks SharpLink's strategic move into the crypto gaming market, aiming to become the first Nasdaq-listed company focused on this sector.
Launched in October 2024, CryptoCasino.com is an online gaming platform offering over 6,000 games, including slots, table games, live dealer casino, sportsbook, and eSports betting. The platform accepts various cryptocurrencies and features both traditional registration and Web3 connectivity through wallets like MetaMask and Trust Wallet. It also integrates with Telegram, serving over one billion unique users.
According to Fortune Business Insights, the online gambling market is projected to reach $158.20 billion by 2028, with blockchain-based gaming growing at a CAGR of 12.5% from 2023 to 2028.
SharpLink Gaming (Nasdaq: SBET) has announced its 2024 Annual General Meeting of Stockholders, scheduled for December 9, 2024. Key proposals include the reelection of board members, approval of a reverse stock split up to 6:1, and appointment of Cherry Bekaert as independent auditors. The reverse stock split is primarily proposed to regain compliance with Nasdaq's minimum bid price requirement of $1.00 per share, as the company received a non-compliance notice on July 11, 2024, with a deadline to comply by January 7, 2025.
SharpLink Gaming (Nasdaq: SBET) reported financial results for Q3 2024, showing mixed performance. Revenues decreased 27.7% to $2.8M for the first nine months of 2024, and Q3 revenues declined 34.7% to $881.7K. However, operating expenses decreased significantly, dropping 25.9% for the nine-month period and 46% in Q3. The company reported net income of $11M for the nine months, largely due to a $22.5M cash sale of its SportsHub businesses. Cash position stood at $1.85M as of September 30, 2024, with total stockholders' equity of $2.02M, improved from a deficit of $9.4M at end-2023.
SharpLink Gaming (Nasdaq: SBET) reported its Q2 2024 financial results, highlighting strategic initiatives to strengthen its balance sheet and focus on performance-based marketing. Key developments include:
- Sale of SportsHub Games Network for $22.5 million
- Extinguishment of all interest-bearing debt
- Raising $71,356 from At-the-Market Offering
- Receipt of $297,387 earn-out from MTS sale
Financial highlights:
- Q2 2024 revenue: $981,272 (27% YoY decline)
- H1 2024 revenue: $1,957,218 (24% YoY decline)
- Q2 2024 net loss: $462,959 (improved from $3,441,158 in Q2 2023)
- H1 2024 net income: $11,887,397 (up from $6,264,904 loss in H1 2023)
- Cash on hand as of June 30, 2024: $2,435,600
SharpLink Gaming (Nasdaq: SBET), an online performance-based marketing company in the U.S. sports betting and iGaming industries, has initiated a formal review process to evaluate strategic alternatives. The company's Board of Directors is considering multiple proposals, including potential sale, merger, or strategic business combination. This decision follows the strategic sale of their fantasy sports and sports games development businesses for $22.5 million in January 2024, elimination of interest-bearing debt, and redomestication from Israel to Delaware.
CEO Rob Phythian emphasized SharpLink's transformation into a pure-play, Nasdaq-listed affiliate marketing company with a strong balance sheet. The company aims to optimize operations, drive growth, and maximize shareholder value through this process. No deadline has been set, and there's no guarantee of a transaction resulting from this review.
SharpLink Gaming (Nasdaq: SBET) has received a notice from Nasdaq indicating non-compliance with the minimum bid price requirement. The company's stock must maintain a minimum bid price of $1.00 per share for continued listing. SharpLink has been granted a 180-day compliance period until January 7, 2025 to regain compliance.
To regain compliance, the closing bid price of SharpLink's Common Stock must be at least $1.00 for a minimum of ten consecutive business days during this period. If unsuccessful, the company may be eligible for an additional 180-day period if it meets other listing requirements. Failure to comply could result in delisting from The Nasdaq Capital Market.
SharpLink Gaming (Nasdaq: SBET), a performance-based marketing company for U.S. sports betting and iGaming industries, announced its Q1 2024 financial results. Revenues from continuing operations were $975,946, compared to $1,232,762 in the same period last year. Net loss from continuing operations improved to $1,760,811, an 18.4% decrease. The company posted a net income of $12,350,345, a significant rise driven by the sale of its Sports Gaming Client Services and SHGN segments for $22.5 million, which also helped retire $19.4 million in debt. SharpLink regained Nasdaq compliance and completed a domestication merger, forming a new Board of Directors. CEO Rob Phythian highlighted strategic transformation and future growth plans, including potential capital raises through an At-The-Market offering.
