Minneapolis, Jan. 5, 2022 (The Globe Newswire) – SharpLink Gaming Ltd. (Nasdaq: SBET) (“SharpLink” or the “Company”), the leader in game-changing technology solutions and expertise-based services in the online sports betting industry in the United States, announced today that it has acquired certain assets of FourCubed Management, LLC and 6t4 Corporation. (together referred to as “FourCubed”), including FourCubed’s iGaming network and affiliate marketing network focused on providing high-quality traffic and player acquisition, retention and conversion to iGaming operator partners worldwide.
SharpLink has acquired certain assets from FourCubed for a total consideration of $8.15 million, which consists of $6.5 million in cash and the issuance of approximately 600,000 restricted common shares of SharpLink. The transaction also provides for a dividend payout of approximately 600,000 additional restricted ordinary shares based on the business acquired that meets specific agreed performance standards.
Rob Phythian, Co-Founder and CEO of SharpLink, stated: “The strategic acquisition of FourCubed adds a respected operating team in the industry with the combined experience of decades of experience in converting through affiliate marketing services and in securing lucrative, recurring and highly net worth gaming revenue contracts with multiple iGaming operators. The world’s leaders.Moreover, FourCubed has distinguished itself by forming steadfast relationships with its customers through high technology, high touch strategy and proven player conversion methodologies.SharpLink has more than 2.5 million players interacting with our fantasy and sports game platforms through our network sites, sports leagues, and sports websites. Media Partnership We believe that FourCubed’s technology platform, its team’s marketing expertise, as well as its approach to player conversions can be easily adapted to the SharpLink platform, unleashing extraordinary value from our growing audience of sports fans as adoption of C4 sports betting conversion technology continues to accelerate. “
Founded in 2005, FourCubed owns and operates iGaming’s international network of over 12,000 affiliates, and has served over 1.8 million referred players since the network launched in 2008. Over the past three years, FourCubed’s average revenue has averaged more than 5.5 USD. million, with over 90% of its revenue generated from recurring net gaming revenue contracts with many of the world’s elite iGaming operators, including Party Poker, bwin, UNIBET, GG Poker, Bet365, 888 Poker, betfair and more.
Continuing, Phythian noted, “We also believe that FourCubed has reached a major inflection point in its business development and is ideally positioned for the dynamic growth of its online poker and casino gaming operations by expanding into the rapidly emerging iGaming and sports betting markets in This acquisition provides SharpLink with the additional firepower to help shape our company into a true industrial powerhouse.”
Chris Carlson, founder of FourCubed, has been appointed Vice President of Conversions at SharpLink, responsible for managing and executing affiliate marketing strategy, collaborating on partnership development, growth and driving profitability. Commenting on the acquisition, Carlson said: “I have known Rob for years and have grown in great respect for him and his many professional accomplishments. I believe that the consolidated strengths of our companies and their respective areas of influence in the industry will create a catalyst for the clear growth of SharpLink for the foreseeable future. With the iGaming and sports betting markets starting in Gaining significant momentum in the US, we couldn’t be more excited about the opportunity to help ensure SharpLink wins industry dominance as the partner of choice for media players, leagues and sports betting seeking to improve player engagement and lasting customer value for sports fans converted into sports bettors.” .
About SharpLink Gaming Ltd.
Founded in 2019 and headquartered in Minneapolis, Minnesota, SharpLink is a leading online technology company that connects fans of sports, tournaments, and sports sites with relevant and timely sports betting content. SharpLink uses proprietary and intelligent online conversion technology to convert sports enthusiasts into sports bookmakers for licensed online sports betting operators. SharpLink’s smart C4 sports betting conversion platform provides and identifies the best sports betting offerings and experiences for each specific user. Using advanced behavioral modeling and tracking techniques powered by artificial intelligence, and by analyzing user behaviors past and present, we serve sports fans with personalized betting offers specifically linked to each fan’s favorite sports, teams and players. In addition, SharpLink specializes in helping sports media companies develop innovative strategies, products and solutions to drive deep customer interaction with interactive sports and mobile applications. SharpLink is powered by industry veterans with several successful exits in the athletics segment. For more information, please visit the SharpLink website at www.sharplink.com.
This statement contains forward-looking statements that are subject to various risks and uncertainties. This data includes data regarding the expected growth of the online betting industry, the company’s expected benefits arising from the acquisition of FourCubed, the company’s ability to generate the same or similar revenue as FourCubed after the acquisition, the company’s ability to effectively integrate FourCubed technologies and processes into its business, and the potential growth of the FourCubed business. FourCubed, the Company’s ability to grow its business, the potential benefits of the Company’s products, services, technologies, and other data that are not historical facts, including statements that may be accompanied by the words “intends”, “may”, “will”, “plans”, “expects” ,” “expects,” “projects,” “expects,” “estimates,” “goals,” “believes,” “hopes,” “potential” or similar words. Actual results may differ materially from those shown in these forward-looking statements due to certain factors, including, but not limited to, the Company’s ability to successfully manage the integration of FourCubed’s business and technologies into its operations, the Company’s ability to achieve profitable operations, government regulations and online betting, Customer acceptance of new products and services The effects of the spread of Coronavirus (COVID-19) and future measures taken by the authorities in the countries in which we operate our operations, Demand for our products and our customers Economic situation, Impact of competitive products and prices, Long sales cycle, Company property rights, Company capacity on obtaining the capital resources needed to finance its business, and other risk factors detailed in the company’s annual report and other filings with the US Securities and Exchange Commission. The company assumes no responsibility to update the forward-looking statements in this release.
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