SharpLink Gaming Ltd. Ordinary Shares - SBET STOCK NEWS

SharpLink Gaming Ltd. (Nasdaq:SBET) has announced the sale of its Legacy Telecommunications Systems business to Entrypoint South Ltd. in an earn-out transaction subject to customary conditions.
Entrypoint will pay SharpLink an earn-out of three times Legacy MTS' EBITDA for 2023, capped at $1 million. This divestment allows SharpLink to refocus on its primary business in the U.S. sports betting and iGaming sectors, as Legacy MTS was deemed non-strategic. The deal is seen as beneficial for both parties, aligning Entrypoint's digital transformation goals with its acquisition of a North American client base.

SharpLink Gaming Ltd. (Nasdaq:SBET) announced the appointment of Dave Abbott as the new Chief Technology Officer. Abbott, with over 20 years of experience, previously held leadership roles at Sportradar. His expertise in customer relationship management and data integration is expected to drive SharpLink's technology roadmap. Abbott expressed enthusiasm for reuniting with the team to capture growth in the evolving U.S. sports betting market. SharpLink focuses on converting sports fans into bettors through advanced technology and personalized offers.

SharpLink Gaming Ltd. (NASDAQ:SBET) announced on November 4, 2022, that it received a letter from Nasdaq indicating non-compliance with the minimum bid price requirement of $1.00 per share. The company has a 180-day grace period until May 3, 2023, to regain compliance by maintaining the bid price above $1.00 for ten consecutive business days. If compliance is not achieved, the company may be eligible for an additional 180-day period. Currently, there is no immediate impact on trading, and shares will continue to trade on Nasdaq during the compliance period.

SharpLink Gaming Ltd. (Nasdaq:SBET) is set to hold an extraordinary general meeting on December 14, 2022, to discuss and approve a merger with SportsHub Games Network, Inc. This all-stock transaction aims to consolidate resources and enhance user engagement in the sports betting industry. Shareholders of record by November 14, 2022, can vote, with a majority required for approval. Proxy statements will be sent on November 18. Shareholders may submit their positions by December 4. This merger is expected to fortify SharpLink's market presence.

SharpLink Gaming Ltd. (NASDAQ:SBET) announced the launch of 15 state-specific affiliate marketing websites to enhance user engagement in the U.S. sports betting and iGaming markets. These websites target local audiences, driving traffic to licensed sportsbook and casino partners. The sites include promotions and offers tailored to each state. CEO Rob Phythian emphasized the launch as a key phase in their Direct-to-Player (D2P) strategy, promising significant growth opportunities. SharpLink is also preparing for further state expansions as sports betting regulations evolve.

SharpLink Gaming Ltd. (NASDAQ:SBET) has achieved a significant milestone by becoming licensed to operate in 21 U.S. states, the District of Columbia, and Ontario, Canada. This regulatory advancement allows SharpLink to reach approximately 98% of the North American legal sports betting market. The company has established partnerships with major sportsbooks, including BetMGM and DraftKings. Additionally, the anticipated acquisition of SportsHub aims to enhance user engagement by integrating sportsbook offers for fantasy sports fans, potentially accelerating long-term growth.

SharpLink Gaming Ltd. held its 2022 Annual General Meeting on September 8, 2022, where shareholders approved several key resolutions. The board re-elected members, including Joe Housman and Rob Phythian, for a term expiring at the 2023 meeting. The appointment of RSM US LLP as independent accountants for 2022 was ratified, and they were authorized to determine their compensation. Additionally, updates were made to the directors and officers compensation policy and the 2021 Equity Incentive Plan. These resolutions are crucial for the company’s governance and operational strategies.

SharpLink Gaming Ltd. (SBET) announced an acquisition of SportsHub Games Network, Inc. to enhance its position in sports betting conversion products. This all-stock merger aims to integrate SportsHub's 2 million users and nearly $6 million in 2021 revenue into SharpLink’s ecosystem. The transaction is subject to shareholder approval and other conditions. Expected benefits include access to a loyal user base and opportunities for cross-promotion of sports betting services as regulations evolve in various states.

SharpLink Gaming Ltd. (Nasdaq:SBET) announced the appointment of Robert DeLucia as the new Chief Financial Officer, effective August 22, 2022. He succeeds Brian Bennett, who left to pursue new opportunities. DeLucia brings extensive experience from roles at Neon Logistics and GTT Communications, where he oversaw significant financial restructuring. CEO Rob Phythian expressed confidence in DeLucia's capabilities to drive growth and enhance shareholder value. The transition aims to strengthen SharpLink's position in the burgeoning sports betting and iGaming sectors.