SEGG Media names Veloce CEO to board after acquisition

Sports Entertainment Gaming Global Corporation (NASDAQ: SEGG) announced the nomination of Daniel Bailey to its board of directors following the company's acquisition of a majority stake in Veloce Media Group.

Bailey serves as co-founder and chief executive officer of Veloce Media Group, which SEGG Media acquired at an enterprise value of approximately $61 million. The transaction was structured as a combination of cash and SEGG Media stock valued at $10 per share.

Veloce reported approximately $17.5 million in revenue for its most recent fiscal year and generates over 500 million monthly digital views across its platform. The company operates in esports, motorsport, digital content and gaming sectors, with partnerships including McLaren, Visa, Microsoft, Hilton and LEGO.

"Dan's appointment reflects our commitment to aligning operating leadership with governance," said Robert Stubblefield, CFO and interim CEO of SEGG Media. "Veloce delivers scale, rapidly growing revenues and profits, and high-quality commercial partnerships."

Bailey commented that combining SEGG Media's access to public markets with Veloce's revenue model and partnerships "creates a powerful platform for accelerated expansion."

The acquisition provides SEGG Media with immediate revenue diversification, established commercial relationships, and expansion across multiple entertainment sectors. Veloce recently acquired Quadrant, a content and motorsport business co-founded by Formula One driver Lando Norris.

SEGG Media operates digital assets including Sports.com, Concerts.com and Lottery.com. The company focuses on fan engagement, gaming and live experiences in the sports and entertainment sectors.

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