**Sports Entertainment Gaming Global Corporation Reports Financials Amid Strategic Transformation**
Sports Entertainment Gaming Global Corporation (SEGG Media), formerly Lottery.com Inc., has reported its financial results for the year ended December 31, 2025, detailing a significant decrease in revenue and a continued net loss as the company navigates a strategic repositioning. Revenue for the year was $560,000, a decrease of 42% from $959,000 in the prior year. This decline was primarily attributed to decreases in revenue from its Tinbu and Global Gaming subsidiaries, partially offset by an increase in revenue from Sports.com Media, which was acquired in September 2024 and thus included for the full year in 2025. The company reported a gross loss of $215,000 for 2025, a substantial shift from a gross profit of $638,000 in 2024, driven by increased cost of revenue, particularly at Sports.com Media and AutoLotto.
The company's operating expenses for 2025 totaled $17.7 million, a 7% decrease from $18.9 million in 2024. This reduction was largely due to a 48% decrease in personnel costs, stemming from stock grants made in 2024 that did not recur in 2025 and a reduction in highly compensated personnel at a subsidiary. However, professional fees increased by 22% to $6.6 million, reflecting higher utilization of legal counsel for matters including class action lawsuits and DOJ investigations, while general and administrative expenses rose by 17% due to increased sponsorships and investor relations activities. Despite the overall decrease in operating expenses, the company reported a loss from operations of $17.9 million for 2025, a slight improvement from a loss of $18.3 million in 2024.
SEGG Media's strategic initiatives in 2025 included the acquisition of a 51% interest in DotCom Ventures Inc., which owns the domain names Concerts.com and Ticketstub.com, and the acquisition of certain assets from PlusEVO Ltd. to form Spektrum Ltd., aimed at supporting international expansion. The company also entered into a Stock Purchase Agreement with Generating Alpha Ltd. for up to $300 million of common stock and a Securities Purchase Agreement with Evergreen Capital Management, LLC, which was later terminated. These capital markets activities and acquisitions are part of the company's broader strategy to transition from a lottery-focused business to a diversified platform at the intersection of sports, entertainment, and gaming, leveraging premium digital assets like Sports.com and Concerts.com.
The company's financial statements indicate substantial doubt about its ability to continue as a going concern, citing recurring net losses, negative cash flows from operations, and an accumulated deficit of approximately $284 million as of December 31, 2025. Management's plans to address this include continued reliance on equity and debt financing, with a focus on disciplined capital allocation towards revenue-generating opportunities and strategic acquisitions. The company is also continuing its efforts to remediate previously identified material weaknesses in internal control over financial reporting, which have impacted its financial reporting processes and the timing of its filings.
Looking ahead, SEGG Media plans to focus on completing and integrating targeted acquisitions, scaling revenue-generating business lines, strengthening operational infrastructure, and allocating capital to initiatives with clear near-term economic returns. The company anticipates continued investment in technology development, platform enhancements, and sales and marketing capabilities. Management believes that its repositioned platform and strategic focus will enable it to capitalize on growth opportunities and improve operating performance, though liquidity constraints and integration risks remain key challenges.
About Lottery.com Inc.
Lottery.com Inc. operates a digital platform enabling remote purchase of legally sanctioned lottery games and related data services. Its core activities include offering mobile lottery and sweepstakes services, data provision, and international gaming operations. Serving consumers and partners worldwide, the company leverages proprietary technology, strategic partnerships, and regulatory compliance to deliver lottery and sports content, aiming to restore and expand its U.S. and international market presence.
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