SEGG Media (NASDAQ: SEGG, LTRYW) announced it has completed its previously disclosed acquisition of a controlling interest in Veloce Media Group, valuing Veloce at approximately $61 million (£45 million). The transaction, structured as a combination of cash and SEGG Media shares priced at $10 per share, is projected to contribute more than $20 million in additional annual revenue, which the Company will begin recognizing in the first quarter of this year. Management said the acquisition strengthens SEGG Media’s revenue base, expands its global digital media footprint and enhances cross-platform monetization opportunities across Sports.com, Concerts.com and related assets, while aligning stakeholders around long-term value creation as Veloce’s operating results are consolidated into reported financials.
To view the full press release, visit https://ibn.fm/cNiVF
About SEGG Media Corporation
SEGG Media (Nasdaq: SEGG, LTRYW) is a global sports, entertainment and gaming group operating a portfolio of digital assets including Sports.com, Concerts.com and Lottery.com. Focused on immersive fan engagement, ethical gaming and AI-driven live experiences, SEGG Media is redefining how global audiences interact with the content they love.
NOTE TO INVESTORS: The latest news and updates relating to SEGG are available in the company’s newsroom at http://ibn.fm/SEGG
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