SEGG Media outlines strategy focused on three growth platforms

Sports Entertainment Gaming Global Corporation (NASDAQ: SEGG, LTRYW), operating as SEGG Media, announced a strategic program for the remainder of its fiscal year, concentrating investments on three core platforms: Veloce Media Group, Sports.com Predict, and a global affiliate lottery model.

The company said the program is designed to apply more disciplined capital allocation and strengthen corporate governance. As part of the strategy, the board approved a 7:1 share consolidation, which has been completed, to maintain compliance with Nasdaq listing requirements.

The board also approved a review of non-core assets to identify opportunities for monetization or strategic partnerships, which the company said would support less-dilutive capital raising.

"Our priority now is execution," said Marc Bircham, Chairman of the SEGG Media Board of Directors. "By concentrating our financial and operational resources behind our highest-conviction growth platforms while maintaining disciplined capital allocation, we believe we can simplify the business and improve our commercial performance."

Chief Commercial Officer Daniel Bailey said the three platforms "each represent scalable businesses with meaningful commercial potential," adding that the objective is to "simplify the organization, focus our investment where we believe it will have the greatest impact, and accelerate execution."

The company said it expects to make additional management appointments during the third quarter, including filling the permanent chief executive officer role.

Full financial impacts and updated guidance metrics are expected to be discussed in August during a conference call following the filing of the company's second-quarter financial report.

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