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Company Leadership Committed to Maximizing Shareholder Value Through Evaluation of Multiple Proposals
MINNEAPOLIS, July 18, 2024 (GLOBE NEWSWIRE) -- SharpLink Gaming, Inc. (Nasdaq: SBET) (“SharpLink” or the “Company”), an online performance-based marketing company serving the U.S. sports betting and iGaming industries, today announced that its Board of Directors (“Board”) has initiated a formal review process to evaluate strategic alternatives for the Company. The Board and management team are taking a measured approach to considering multiple proposals that have been received by the Company and other proposals it expects to receive.
SharpLink has been exploring strategic alternatives that include, but are not limited to, a sale, merger, strategic business combination or other transaction. SharpLink has not set a deadline or definitive timetable for completion of the strategic alternatives review process and there can be no assurance that this process will result in the Company pursuing a transaction or any other strategic outcome.
Rob Phythian, Chairman and CEO of SharpLink, stated “With the strategic sale of our fantasy sports and sports games development businesses in January 2024 to RSports Interactive for $22.5 million in cash and the elimination of all of our interest-bearing debt, coupled with the subsequent redomestication of our Company from Israel to Delaware and the appointment of a new Board comprised of truly world class business executives, SharpLink has transformed into a pure-play, Nasdaq-listed affiliate marketing company with a strong, clean balance sheet. As part of the Board’s efforts to evaluate strategic alternatives, it is advancing discussions with those prospects that we believe offer SharpLink the best opportunities to optimize our existing business operations, drive growth and create and maximize value for our shareholders.”
SharpLink does not intend to make any further public comment regarding the review of strategic alternatives until a definitive agreement has been executed or the Company determines that disclosure is required by law or otherwise deemed appropriate.
About SharpLink Gaming, Inc.
Headquartered in Minneapolis, Minnesota, SharpLink is a trusted marketing partner to leading sportsbooks and online casino gaming operators worldwide. Through its iGaming affiliate marketing network, known as PAS.net, SharpLink focuses on driving qualified traffic and player acquisitions, retention and conversions to U.S. regulated and global iGaming operator partners worldwide. In fact, PAS.net won industry recognition as the European online gambling industry’s Top Affiliate Website and Top Affiliate Program for four consecutive years by both igamingbusiness.com and igamingaffiliate.com. SharpLink also owns and operates a portfolio of direct-to-player, state-specific, affiliate marketing websites designed to attract, acquire and drive local sports betting and online casino gaming traffic to its valued partners which are licensed to operate in each respective state. For more information, please visit www.sharplink.com.