Sharplink Gaming Ltd Stock Price, News & Analysis

SharpLink Gaming Ltd. (Nasdaq:SBET) has announced a change to the date of its 2023 Annual General Meeting of Shareholders, moving it from May 26, 2023, to May 25, 2023, at 4:00 PM Central Time. This adjustment was made to accommodate the upcoming Memorial Day holiday weekend. Shareholders of record as of April 19, 2023, will be able to vote during the meeting. A proxy statement detailing the proposals for the meeting will be mailed around April 27, 2023. SharpLink, founded in 2019, specializes in providing technological solutions for the U.S. online sports betting industry and offers a variety of digital gaming experiences, reaching over two million fantasy sports fans who collectively spend nearly $40 million annually on its platform.

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.