SEGG Media Closes $2.5 Million Funding Agreement
FORT WORTH, Texas, Dec. 11, 2025 (GLOBE NEWSWIRE) -- SEGG Media Corporation (NASDAQ:SEGG, LTRYW))(the "Company" or "SEGG Media"), the global sports, entertainment, and gaming group, today announces that it has closed a $2.5 million Securities Purchase Agreement under a shelf registration statement on Form S-3 that was previously filed with the SEC and declared effective on November 28, 2025. The funds will be used by the Company to execute on reaching milestones outlined in its 90-day outline of key initiatives including completing the investment to acquire a controlling interest in Veloce Media Group ("Veloce").
The recent decision by the Company's Board of Directors to make a change at the top of SEGG Media's executive leadership team is a statement that the Company is committed to a more disciplined approach that is grounded in realistic planning, transparent communication, and dependable delivery. The Company's immediate focus is on maximizing the value of its assets, stabilizing operations, improving internal processes, and ensuring that commitments made to shareholders, partners, and employees are supported by clear execution plans and measurable outcomes.
Marc Bircham, Chairman of the SEGG Media Board of Directors, said, "We have entered a phase where results matter more than rhetoric. The Company will prioritize fundamentals: driving sustainable revenue growth, improving operational efficiency, and strengthening financial stewardship. This transition marks a shift toward a culture centered on follow-through, accountability, and delivering on what we say we will do."
The Company has outlined a $5 Million 90-day outline of key initiatives which includes the following:
- Finalize Acquisition of Controlling Interest in the Veloce Media Group. The Company will complete the remaining tranches of the Veloce Media Group transaction along with additional steps to ensure the achievement of controlling interest, enabling the Company to begin to consolidate and report operating results and balance sheet components of Veloce as well as ensuring full integration planning and alignment of resources necessary to begin driving value from the combined operations. The transaction, valuing Veloce at $53 million pre-money, marks a pivotal step forward in the Group's international expansion strategy. Funds from the Company's previous payments for Tranche 1 have already been deployed to drive key initiatives, including Veloce's acquisition of the creator-led content, motorsport, and apparel brand Quadrant, co-founded by Formula 1 driver and winner of the 2025 World Championship, Lando Norris.
- Fund Commitments Related to the DotCom Ventures Acquisition. This will enable the Company to secure the intellectual property associated with Concerts.com and TicketStub.com and invest in launching both a fan-focused ticket buying platform and a premier destination for concert lovers, with these efforts being driven by Simon Lewis, former president of Live Nation Europe.
- Invest in International Gaming Operations, Beginning with Mexico. The Company will allocate targeted investments to accelerate growth in international markets, with an initial focus on the Company's existing operations in Mexico. This includes reinforcing existing infrastructure, regulatory readiness, and localized expansion planning.
- Continued Investment in the Development of the Sports.com All-Sports Arena by David Lloyd. The Boca Raton facility is a foundational component for the Sports.com brand. The venue will be the first of its kind in Florida, blending state-of-the-art sporting infrastructure with cutting-edge co-working and business amenities. David Lloyd's projections are that the Boca facility will deliver over $6 million in EBITDA in its first year of operations
- Address General Operational Needs and Strengthen Internal Processes. The leadership team will prioritize improving internal operations, tightening financial controls, and ensuring that corporate commitments are supported by clear timelines, execution frameworks, and performance metrics.
The Company noted that initiatives not included in the 90-day plan will only be pursued if doing so provides a meaningful benefit to the Company's financial position that is sufficient to offset any potential shareholder dilution. This disciplined approach ensures that capital allocation remains tightly aligned with the Company's near-term priorities and long-term value-creation strategy.
Robert Stubblefield, (Interim) CEO and CFO of SEGG Media, said, "Our ability to close on the $2.5 million investment was because we focused on clear, attainable milestones with an achievable execution plan. This underscores my belief that we need to be more committed to strengthening the foundations of SEGG Media by focusing on responsible growth, operational discipline, and delivering long-term value for our shareholders. For example, completing the Veloce acquisition is projected to add nearly $20 million in annual revenue beginning in Q1 of 2026 to our top line which is more than the Company has reported since going public in 2021. The Company is intently focused on backing high-potential assets and building a profitable, resilient business across sports, entertainment, and gaming."
The Company emphasized that these initiatives are part of a broader reorientation toward sustainable growth, improved financial stewardship, and transparent execution. Detailed progress updates will be shared with stakeholders as milestones toward these key initiatives are completed.
About SEGG Media Corporation
Lottery.com Inc. DBA SEGG Media Corporation (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.
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. All statements, other than statements of present or historical fact included in this press release, regarding the Company's strategy, future operations, prospects, plans and objectives of management, are forward-looking statements. When used in this Form 8-K, the words "could," "should," "will," "may," "believe," "anticipate," "intend," "estimate," "expect," "project," "initiatives," "continue," the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management's current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. The forward-looking statements speak only as of the date of this press release or as of the date they are made. The Company cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of the Company. In addition, the Company cautions you that the forward-looking statements contained in this press release are subject to risks and uncertainties, including but not limited to, any future findings from ongoing review of the Company's internal accounting controls, additional examination of the preliminary conclusions of such review, the Company's ability to secure additional capital resources, the Company's ability to continue as a going concern, the Company's ability to respond in a timely and satisfactory matter to the inquiries by Nasdaq, the Company's ability to regain compliance with the Bid Price Requirement, the Company's ability to regain compliance with Nasdaq Listing Rules, the Company's ability to become current with its SEC reports, and those additional risks and uncertainties discussed under the heading "Risk Factors" in the Form 10-K/A filed by the Company with the SEC on April 22, 2025, and the other documents filed, or to be filed, by the Company with the SEC. Additional information concerning these and other factors that may impact the operations and projections discussed herein can be found in the reports that the Company has filed and will file from time to time with the SEC. These SEC filings are available publicly on the SEC's website at www.sec.gov. Should one or more of the risks or uncertainties described in this press release materialize or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. Except as otherwise required by applicable law, the Company disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release.
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