Welcome to our dedicated page for SharpLink Gaming Ltd. Ordinary Shares news (Ticker: SBET), a resource for investors and traders seeking the latest updates and insights on SharpLink Gaming Ltd. Ordinary Shares stock.
SharpLink Gaming Ltd. (NASDAQ: SBET) is a pioneering online technology company that bridges the gap between sports fans and sports betting content. Founded in 2019, the company leverages proprietary, intelligent online conversion technology to transform sports enthusiasts into active sports bettors for licensed online sportsbook operators.
SharpLink Gaming operates through two main segments: Affiliate Marketing Services - United States and Affiliate Marketing Services - International. This structure allows the company to specifically target and drive local sports betting and casino traffic to its partners. The majority of revenue is generated from the international segment, underscoring the global reach and effectiveness of its marketing platform.
In addition to its marketing services, SharpLink specializes in assisting sports media companies, leagues, and teams in developing innovative solutions to engage their audiences. The company offers highly interactive free-to-play games and mobile applications, which are designed to boost fan interaction and engagement. SharpLink's portfolio also includes a variety of real-money fantasy sports and sports simulation games, accessible through its proprietary platform that reaches over two million fantasy sports fans.
SharpLink’s significant achievements include its authorization to operate in every U.S. state where fantasy sports and online sports betting are legal. The company’s fantasy sports platform alone attracts users who collectively spend nearly $40 million annually on its digital gaming experiences and contests.
On the financial front, SharpLink Gaming has maintained a robust performance, with forward-looking strategies aimed at expanding its footprint in the growing online betting and iGaming industries. The company’s recent announcements, such as the upcoming extraordinary general meeting of shareholders to approve the redomestication merger, reflect its commitment to strategic growth and shareholder engagement.
For more information, please visit the SharpLink website.
SharpLink Gaming Ltd. (Nasdaq:SBET) announced a reverse stock split effective April 25, 2023, following shareholder approval on January 20, 2023. This ten-for-one reverse stock split aims to meet Nasdaq's minimum $1.00 bid requirement for continued listing. Following the split, approximately 2,688,114 ordinary shares will be outstanding, down from 26,881,144. Authorized shares will reduce from 92,900,000 to 9,290,000. On April 26, 2023, shares will trade on a split-adjusted basis under the SBET symbol, with no fractional shares issued. The company's overall ownership percentages will remain virtually unchanged post-split. SharpLink aims to enhance shareholder value by maintaining its Nasdaq listing.
SharpLink Gaming Ltd. (NASDAQ:SBET) reported a significant 177% revenue increase in 2022, reaching $7.29 million driven by acquisitions, including FourCubed and SportsHub. Operating expenses dropped by 50% to $16.61 million, contributing to a narrowed net loss of $15.23 million compared to $55.64 million in 2021. Cash reserves rose to $50.46 million, while stockholders' equity declined to $2.99 million. The company aims to leverage its acquisitions and new technologies to expand in the U.S. sports betting market, targeting operational growth and enhanced client engagement.
SharpLink Gaming Ltd. (Nasdaq:SBET) has rescheduled its live audio webcast for the 2022 year-end results and corporate update to April 5, 2023, at 4:30 PM ET. The webcast, which will be available for replay, can be accessed via the provided link. SharpLink is a technology company specializing in connecting sports fans to online betting and iGaming content, boasting a proprietary technology that converts sports fans into bettors. With over 2 million fantasy sports users spending nearly $40 million annually, the company's future growth depends on navigating regulatory challenges and consumer acceptance.
SharpLink Gaming Ltd. (Nasdaq:SBET) will host a webcast on April 3, 2023, at 4:30 p.m. ET to discuss financial results for the year ended December 31, 2022. CEO Rob Phythian and CFO Robert DeLucia will lead the update. Investors are invited to submit questions via email to ir@sharplink.com by March 24, 2023. The webcast will be available for replay and can be accessed through this link. SharpLink connects sports fans to sports betting through intelligent technology and operates various gaming platforms, reaching over two million fans.
SharpLink Gaming Ltd. (NASDAQ:SBET) announced the closure of a $4.4 million convertible debenture through a non-brokered private placement with an institutional shareholder on February 15, 2023. Additionally, the company secured a $7.0 million revolving loan agreement with Platinum Bank on February 13, 2023. These funds will support key growth initiatives, including their C4 sports betting conversion technology and Direct-to-Player growth strategies. CEO Rob Phythian believes these capital raises are essential for executing the company's business strategy.
SharpLink Gaming Ltd. (NASDAQ:SBET) CEO Rob Phythian highlights the company's significant achievements from 2022 and outlines goals for 2023. SharpLink acquired 6t4 Company and SportsHub Games Network, enhancing its direct-to-player strategy and expanding its audience to over two million fantasy sports fans. They achieved licensing in 21 U.S. states and Ontario, covering 98% of the North American online sports betting market. As of 2022, SharpLink's estimated annual revenue is $13 million. Key objectives for 2023 include expanding sales teams, leveraging AI for innovation, and ensuring compliance with Nasdaq regulations.
SharpLink Gaming Ltd. (NASDAQ:SBET) has transitioned to a U.S. domestic company, effective January 1, 2023. This change follows the sale of its legacy Mer Telemanagement Solutions business to Entrypoint South Ltd., now MTS Technology. SharpLink will receive an earn-out payment of up to $1 million based on 2023 earnings from the sold business. The company aims to enhance transparency and deliver timely financial updates under U.S. reporting standards. This marks a significant shift in its operational structure, enabling a focused strategy on its core sports betting and iGaming activities.
SharpLink Gaming Ltd. (NASDAQ:SBET) has completed its acquisition of SportsHub Games Network as of December 22, 2022. The merger was approved by both the Board of Directors and shareholders during an Extraordinary General Meeting on December 14, 2022. SharpLink issued 4,725,125 ordinary shares for the acquisition, raising its total outstanding shares to 27,287,006. CEO Rob Phythian emphasized that this merger positions SharpLink for growth within the rapidly expanding U.S. sports betting and iGaming sectors, aiming to create long-term shareholder value.
SharpLink Gaming Ltd. (SBET) has received shareholder approval for its merger with SportsHub Games Network, enhancing its position in the sports betting and iGaming sectors. The acquisition aims to leverage SportsHub's audience of over 2 million sports fans, who collectively spend nearly $40 million annually on digital gaming. This strategic move is expected to integrate SharpLink's C4 sports betting technology, fostering deeper market penetration and revenue growth. The merger is seen as a pivotal step in SharpLink's business evolution, promising long-term value for shareholders.
SharpLink Gaming Ltd. (Nasdaq:SBET) will hold an extraordinary general meeting on January 20, 2023, to discuss key matters including a proposed reverse share split up to a 20:1 ratio, aimed at increasing the share price for Nasdaq compliance. Approval requires 75% shareholder vote for the split and a majority for the auditor appointment. Shareholders of record by December 13, 2022, can vote either in person or via proxy, with details mailed by December 19, 2022. The meeting may address additional business matters as needed.
FAQ
What is the current stock price of SharpLink Gaming Ltd. Ordinary Shares (SBET)?
What is the market cap of SharpLink Gaming Ltd. Ordinary Shares (SBET)?
What does SharpLink Gaming Ltd. do?
What are the main business segments of SharpLink Gaming Ltd.?
How does SharpLink Gaming generate revenue?
What is SharpLink’s strategy for fan engagement?
Is SharpLink Gaming authorized in the U.S.?
Who are SharpLink Gaming’s typical clients?
What recent developments have been announced by SharpLink Gaming?
How many fantasy sports fans does SharpLink reach?
Where can I find more information about SharpLink Gaming?