Sports Entertainment Gaming Global Corp. (SEGG) reported revenue of $1,200,983 and a net loss of $3,539,667 for the three months ended March 31, 2026. Results include Veloce Media Group only from its February 17, 2026 acquisition date, so SEGG says the quarter is not directly comparable with 2025. SEGG owned approximately 67.9% of Veloce after the acquisition.
Operating activities used $8,265,473 in cash, and cash was $785,905 at March 31, 2026. Management concluded that substantial doubt exists about SEGG’s ability to continue as a going concern, citing recurring losses, negative operating cash flows, an accumulated deficit of $290,341,308 at March 31, 2026, and expected additional operating losses. SEGG determined that specified 2021–2022 reports require restatement and its 2023–2025 financial statements require correction; it intends to amend the affected reports.
Sports Entertainment Gaming Global Corporation (SEGG) said it intends to restate its 2021 and 2022 annual statements and first three 2022 quarterly statements, which should no longer be relied upon. Restated 2020 and 2021 revenue is $5,459,514 and $9,409,922, versus previously reported revenue of $7,459,514 and $16,409,922. Restated 2021 net loss is ($61,186,780), compared with ($53,048,225) previously reported.
For 2023–2025, corrections lower amortization and remove impairment charges, reducing previously reported losses; restated net losses were $22,885,825 in 2023 and $25,237,301 in 2024. The corrections also reduce assets, but management said it does not consider the 2023–2025 statements unreliable. Beginning with the Form 10-Q for the quarter ended March 31, 2026, SEGG intends to present corrected historical comparisons in quarterly and annual reports.
Sports Entertainment Gaming Global Corp (SEGG) disclosed that Nasdaq’s Listing Qualifications Department sent a letter on August 20, 2026 stating the company is not in compliance with Nasdaq Listing Rule 5250(c)(1) because it has not filed its Form 10-Qs for the quarters ended March 31, 2026 and June 30, 2026. An earlier delinquency related to the Form 10-K for the year ended December 31, 2025 was cured when that report was filed on July 10, 2026. Any exception to regain compliance is limited to October 12, 2026, and SEGG must submit an updated compliance plan to Nasdaq by September 4, 2026. SEGG’s common stock and warrants continue to trade on The Nasdaq Capital Market under the symbols SEGG and LTRYW while it works to complete the outstanding Form 10-Q filings.
Jane Street Group, LLC, together with Jane Street Capital, LLC and Jane Street Global Trading, LLC, reports beneficial ownership of 500,207 shares of Sports Entertainment Gaming Global Corp common stock. This represents 4.0% of the outstanding common shares.
All 500,207 shares are held with shared voting and dispositive power; no shares are held with sole voting or dispositive power. Jane Street Capital, LLC holds 326,699 shares and Jane Street Global Trading, LLC holds 173,508 shares, each with shared voting and dispositive power. The filing characterizes this position as ownership of 5 percent or less of the class.
Sports Entertainment Gaming Global Corporation filed Amendment No. 1 to its Annual Report for the year ended December 31, 2025. The change is limited to updating the exhibits section to incorporate by reference the company’s Executive Clawback Policy, adopted in compliance with Section 10D of the Securities Exchange Act of 1934 and applicable Nasdaq listing standards. No other portions of the prior annual report are revised, and the amendment does not update disclosures for events after the original filing.
The amendment designates the clawback policy as Exhibit 97.1, effective December 1, 2023. Contextual data show an aggregate market value of voting and non‑voting stock held by non‑affiliates of approximately $5.2 million as of December 31, 2025, based on a Nasdaq closing price of $0.73 per share, and 22,816,406 common shares outstanding as of July 7, 2026. The company’s common stock trades on The Nasdaq Stock Market LLC under the symbol SEGG, and listed warrants trading as LTRYW are exercisable to purchase one share of common stock at $2,300.00 per share.
Sports Entertainment Gaming Global Corporation is implementing a 7-for-1 reverse stock split of its common stock, par value $0.001 per share. A Certificate of Amendment filed in Delaware makes the split effective as of 5:30 p.m. Eastern Time on July 31, 2026. At that time, every seven shares of issued, outstanding, or treasury common stock will be reclassified into one share, while the total number of authorized common shares and the par value remain unchanged.
The reverse split was approved by stockholders at the 2025 annual meeting on February 9, 2026, with the specific ratio authorized by the board on July 29, 2026. The common stock will begin trading on a split-adjusted basis on Nasdaq on August 3, 2026 under the symbol SEGG. Outstanding equity awards, warrants, equity plan share reserves, and related exercise or grant prices will be adjusted proportionately. No fractional shares will be issued; instead, holders will receive cash in lieu, based on the closing price on Nasdaq on July 31, 2026.
Sports Entertainment Gaming Global Corporation entered into a financing deal with Amorua Global, Inc. by issuing an unsecured convertible promissory note with an original principal amount of $3,500,000. The note carries 12% annual interest, has a 24‑month maturity from May 26, 2026, and includes a 15% original issue discount.
Amounts outstanding, including interest, may be converted into common stock at the lower of the closing price on the issuance date or 95% of the lowest daily VWAP over the five trading days before conversion, subject to a 9.99% beneficial ownership cap. The company plans to use the net proceeds for general corporate purposes, including about $500,000 to repay indebtedness under the Alumni Capital note, and has agreed to file a Form S‑1 to register the resale of conversion shares.
Jane Street group reported shared beneficial ownership of 5.5% of Sports Entertainment Gaming Global Corp common stock, equal to 698,188 shares (CUSIP 54570M306). The ownership is held across Jane Street Group, Jane Street Capital and Jane Street Global Trading, with shared voting and dispositive power reported. Signatures are dated 05/26/2026.
Sports Entertainment Gaming Global Corporation reported that it received a notice from Nasdaq’s Listing Qualifications Department stating it is not in compliance with Nasdaq Listing Rule 5250(c)(1) because it did not timely file its Quarterly Report on Form 10-Q for the period ended March 31, 2026.
The notice does not immediately affect the listing of the company’s common stock on Nasdaq. The company has 60 calendar days from the date of the notice to submit a plan to regain compliance, and Nasdaq may grant up to 180 calendar days from the original Form 10-Q due date if it accepts that plan. The company states it intends to submit a plan within the required timeframe and is working to complete and file the Form 10-Q as soon as practicable.