SharpLink Gaming Ltd. Ordinary Shares - SBET STOCK NEWS

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.

SharpLink Gaming, Inc. (SBET) reports a 42% increase in revenues from continuing operations on a year-over-year basis, with total revenues reaching $4,952,725. The company's Affiliate Marketing Services segments in the U.S. and internationally saw significant growth, with gross profit increasing by 17%. Despite a net loss decrease of 20%, SharpLink sold its Sports Gaming Client Services and SportsHub Gaming Network segments to RSports Interactive for $22.5 million, eliminating all interest-bearing debt.

SharpLink Gaming, Inc. (SBET) appoints Robert Gutkowski to its Board of Directors, following Adrienne Anderson's resignation. Gutkowski, a seasoned professional in sports, entertainment, and media industries, brings extensive experience, including a landmark $486 million deal for the New York Yankees-Madison Square Garden Network. His track record includes successful ventures like SFX Entertainment and RMG Sports Ventures LLC. Gutkowski's appointment is expected to enhance SharpLink's strategic direction and industry connections.

SharpLink Gaming Ltd. (SBET) completes its change of jurisdiction from Israel to Delaware through a merger with SharpLink US. Shareholders approve the Merger Agreement, exchanging shares and warrants. Trading under symbol SBET on Nasdaq Capital Market starts on February 14, 2024.

SharpLink Gaming Ltd. (SBET) has successfully resolved its deficiency under Nasdaq Listing rule 5550(b) and is now in compliance with all applicable continued listing standards. As a result, the scheduled hearing before the Nasdaq Listing Qualifications Panel has been cancelled, and the company's ordinary shares will continue to be listed and traded on Nasdaq.

SharpLink Gaming Ltd. (SBET) announced the sale of its SportsHub/fantasy sports and free to play sports game development business units to RSports Interactive, Inc. for $22.5 million. The proceeds were used to repay all outstanding term loans and lines of credit, as well as to redeem a Senior Convertible Debenture. The sale is expected to significantly reduce operating expenses and strengthen the company's cash position and total shareholders' equity. The company's COO and a board member resigned in connection with the sale.

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