FORT WORTH, Texas, Nov. 02, 2026 (GLOBE NEWSWIRE) -- Sports Entertainment Gaming Global Corporation ("SEGG Media" or the "Company") (Nasdaq: SEGG) today reported financial results for the second quarter ended June 30, 2026, as filed in its Quarterly Report on Form 10-Q. Revenue rose to $3.2 million from $192,000 in the second quarter of 2025, driven by the first full quarter of results from Veloce Media Group ("Veloce"), which the Company acquired on February 17, 2026.
With this filing, the Company is current on all periodic reports cited in its previously announced Nasdaq notices. The filing cures the Company's previously announced deficiency under Nasdaq Listing Rule 5250(c)(1), which requires timely filing of periodic reports with the SEC. The Company will provide an update when it receives Nasdaq's formal compliance determination.
Second Quarter 2026 Highlights (compared with Q2 2025)
- Revenue of $3.2 million, up 1,584% from $192,000.
- Sequential revenue growth of 169% over the first quarter of 2026, which included Veloce for only part of the period.
- Veloce, acquired February 17, 2026, generated most of the quarter's revenue in its first full quarter as part of SEGG Media.
Six-Month and Balance Sheet Highlights
- Revenue for the first six months of 2026 was $4.4 million, up 966% from $416,000 a year earlier.
- Total assets were $121.9 million at June 30, 2026, compared with $52.9 million at December 31, 2025.
- Total stockholders' equity was $68.2 million, compared with $21.0 million at year-end.
Veloce Expands SEGG Media's Revenue Base
A year ago, the Company's revenue came primarily from legacy lottery and gaming operations. Today, most of it comes from digital media and advertising: sponsorships, branded content, media production, content licensing and commercial partnerships across Veloce's portfolio of motorsport, esports, gaming and creator-led brands, including Quadrant. The Company also generates revenue from data services and from its gaming operations in Mexico.
Veloce continues to operate as a standalone business. Management intends to use its content capabilities, commercial relationships and owned media ecosystem of more than 500 million monthly digital views to support the growth of Sports.com, Concerts.com and Lottery.com.
Expiration of Public Warrants
On October 29, 2026, the Company's publicly traded warrants (formerly Nasdaq: LTRYW) expired under their original terms on the fifth anniversary of the Company's 2021 business combination. The warrants were exercisable for an aggregate of 14,375 shares of common stock at $16,100.00 per share, as adjusted for prior reverse stock splits. None were exercised, and none remain outstanding. Nasdaq has filed a Form 25 to remove the warrants from listing.
The expiration simplifies the Company's capital structure and has no effect on the Company's financial statements or on the listing of its common stock, which continues to trade on The Nasdaq Capital Market under the symbol "SEGG."
Management Commentary
Robert J. Stubblefield, Chief Financial Officer and Interim President and Chief Executive Officer of SEGG Media, said:
"A year ago we were doing about $200,000 a quarter in revenue. This quarter we did $3.2 million, and most of it came from businesses we didn't own twelve months ago. There's more work ahead, particularly on our cost structure. But the business underneath is larger and more diversified, and with our reporting current, we can put more of our attention on growing it."
About SEGG Media Corporation
SEGG Media (Nasdaq: SEGG) is a global sports, entertainment, and gaming group operating a portfolio of digital assets including Sports.com, Concerts.com, TicketStub.com, Lottery.com, and Veloce Media Group. Focused on immersive fan engagement, ethical gaming, and technology-driven fan experiences, SEGG Media is redefining how global audiences interact with the content they love.
Important Notice Regarding Forward-Looking Statements
This press release contains statements that constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding the Company's business strategy, the expected operation and benefits of the Lottery.com affiliate model and the timing of revenue from it, the use of Veloce's capabilities to support the Company's other brands, the Company's future financial performance, and the listing of the Company's common stock. These statements are based on management's current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially, including, among others: the Company's recurring operating losses, negative cash flows from operations, working capital deficit and significant indebtedness, and the resulting substantial doubt about its ability to continue as a going concern; its dependence on external financing, which may not be available on acceptable terms or at all, and dilution to existing stockholders from equity and convertible debt financings; defaults, alleged defaults, forbearance arrangements and related claims under its outstanding notes and convertible notes; the receipt of Nasdaq's formal compliance determination, its ability to timely file future periodic reports and maintain compliance with Nasdaq listing requirements, and the risk that its common stock could be delisted; the restatement and correction of previously issued financial statements, including the timing and cost of filing amended reports; material weaknesses in its internal control over financial reporting and the conclusion that its disclosure controls and procedures were not effective; the continuing impact of legacy matters, including misconduct by former executives; the outcome of pending and threatened litigation and arbitration; the absence of a permanent Chief Executive Officer and the concentration of executive roles in its Chief Financial Officer; elevated operating and professional costs; the temporary suspension of certain operations, including Sports.com Predict, to conserve financial resources; risks associated with operating and overseeing Veloce and other acquired businesses, including finalization of purchase price allocations and potential impairment of goodwill and intangible assets; its ability to recruit affiliate partners and whether IGA or future partners fund and execute planned market expansion as anticipated; whether pending transactions, including the proposed acquisition of Nook Holdings Limited, are completed; regulatory and licensing requirements applicable to its gaming operations, including in Mexico; foreign currency fluctuations; changes in advertising markets and consumer engagement with digital media; and the other risks described under "Risk Factors" in the Company's Annual Report on Form 10-K filed with the SEC on July 10, 2026, its Quarterly Report on Form 10-Q for the quarter ended June 30, 2026, and its other filings with the SEC. Forward-looking statements speak only as of the date of this press release. Except as required by law, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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For additional information SEGG Media press@seggmedia.com 737-587-3391 SEGG Investors ir@seggmedia.com 737-787-3891
