Sports Entertainment Gaming Global Corp is a US-listed company in the interactive home entertainment industry. Its financial year ends in December.
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Third-party market data · may be delayed
~$0.7
Price-to-sales vs peers
Base case. Range ~$0.6–$6.5. Sales per share times peers' typical price-to-sales; used only when earnings are negative.
No Buy/Hold/Sell rating is issued: only 1 valuation models apply; a rating needs 3.
Sports Entertainment Gaming Global Corp valuation: adjust assumptions and compare models →
What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.
Model value −32.4%
Sports Entertainment Gaming Global has little or no product revenue yet; it used $13m of cash in the twelve months to June 2026. That growth ranks 1 of 12 among the interactive home entertainment companies we cover. Our model value falls from $1.02 to $0.69 a share, against a share price of $1.93.
Source: 10-Q filed November 2, 2026 on SEC EDGAR · Financials · Valuation
Sports Entertainment Gaming Global has little or no product revenue yet; it used $11m of cash in the twelve months to March 2026. It passes 1 of our 2 financial-health checks. Our price-to-sales vs peers value is $1.02 a share, against a share price of $1.40.
Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.
Sports Entertainment Gaming Global Corp's trailing-twelve-month revenue grew 433.1% year on year, with a free-cash-flow margin of -280.2%. Where it stands out: revenue growth of 433.1% ranks 1 of 12 interactive home entertainment companies we cover. Where it lags: gross margin of 21.1% ranks 9 of 9 interactive home entertainment companies we cover.
Current signal Revenue growth accelerating: TTM revenue growth rose to 433.1% (+366.7pp vs the prior quarter).
Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.
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Third-party market data · may be delayed
Company announcements, filed results and changes that matter to shareholders.
We value Sports Entertainment Gaming Global Corp as an operating company, with every model that fits that kind of business. Cost of equity 7.7%: the 10-year Treasury yield (4.9%) plus a beta of 0.62 times a 4.5% equity risk premium.
| Model | Value per share | In the combined value? |
|---|---|---|
| Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. | — | Does not apply: no positive earnings in the latest twelve months |
| Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. | — | Does not apply: the model gives no positive value |
| Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. | — | Does not apply: return on equity is not positive |
| Price-to-sales vs peers Sales per share times peers' typical price-to-sales; used only when earnings are negative. | ~$0.7 ~$0.6–$6.5 | Included, half weight |
| Cash-flow model (DCF) Free cash flow after stock pay, grown then faded to 2.5%, discounted at 8.5%. | — | Does not apply: Noncontrolling ownership is material. Its fair value and share of cash flow must be valued separately; a book-value deduction is insufficient. |
| Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. | — | Does not apply: Noncontrolling ownership is material. Its fair value and share of cash flow must be valued separately; a book-value deduction is insufficient. |
| Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. | — | Does not apply: Noncontrolling ownership is material. Its fair value and share of cash flow must be valued separately; a book-value deduction is insufficient. |
| Combined value Weighted average of the models that apply: the primary model (price-to-earnings vs peers) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. | ~$0.7 ~$0.6–$6.5 | 1 model |
Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Sports Entertainment Gaming Global Corp with Interactive Home Entertainment in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.
| At fiscal year end | 2023 | 2024 | 2025 |
|---|---|---|---|
| Share price | $189.70 | $33.88 | $5.11 |
| Market value | $83m | $49m | $18m |
| + Net debt (− = net cash) | $6m | $6m | $6m |
| Enterprise value | $88m | $55m | $24m |
| Multiples | |||
| Price / sales | 11.8x | 50.8x | 32.1x |
| Price / earnings | — | — | — |
| Price / free cash flow | — | — | — |
| EV / EBITDA | — | — | — |
Weak moat
How hard Sports Entertainment Gaming Global's competitive advantage looks for rivals to wear away, judged from 9 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.
Net income has been a median -19.5% of total assets over 9 years.
Gross margin has been a median 21.1%, moving by 25.9 percentage points (standard deviation) across 5 years.
Operating margin has been a median -828.8%; its worst year was -1626.4%.
AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (17 before it).
No analyst estimates are published for Sports Entertainment Gaming Global Corp: too few analysts cover it.
| Quarter to | Estimate | Actual | Surprise |
|---|---|---|---|
| Mar 2022 | −$266.00 | −$462.00 | −73.7% |
| Dec 2021 | $0.00 | −$387.94 | 0.0% |
Adjusted EPS as companies report it, against the average analyst estimate.
| Calendar year | 2024 | 2025 | 2026 to date |
|---|---|---|---|
| Return | |||
| SEGG | −82% | −85% | −62% |
| Industry peers (median) | +10% | +1% | −39% |
| S&P 500 | +25% | +18% | +11% |
| Months that ended higher | |||
| SEGG | 33% | 17% | 36% |
| S&P 500 | 75% | 75% | 46% |
| Largest fall from a high during the year | |||
| SEGG | −92% | −97% | −93% |
| S&P 500 | −8% | −19% | −9% |
Worst fall since June 15, 2023: 100% from August 2, 2023 to October 29, 2026. Getting back needed a 51150% gain, and the shares have not yet recovered.
Source: SEC EDGAR filings. Retrieved November 2, 2026.
| Period | Revenue (TTM) |
|---|---|
| FY23 Q3 | $2.1M |
| FY23 Q4 | $7M |
| FY24 Q1 | $6.7M |
| FY24 Q2 | $6.3M |
| FY24 Q3 | $6.2M |
| FY24 Q4 | $958.6K |
| FY25 Q1 | $923.2K |
| FY25 Q2 | $857.9K |
| FY25 Q3 | $795K |
| FY25 Q4 | $559.6K |
| FY26 Q1 | $1.5M |
| FY26 Q2 | $4.6M |
Source: SEC EDGAR filings. Retrieved November 2, 2026.
| Period | Revenue growth, TTM YoY |
|---|---|
| FY23 Q3 | -75.4% |
| FY23 Q4 | 3.5% |
| FY24 Q1 | 76.7% |
| FY24 Q2 | 146.6% |
| FY24 Q3 | 192.2% |
| FY24 Q4 | -86.3% |
| FY25 Q1 | -86.1% |
| FY25 Q2 | -86.3% |
| FY25 Q3 | -87.1% |
| FY25 Q4 | -41.6% |
| FY26 Q1 | 66.5% |
| FY26 Q2 | 433.1% |
Source: SEC EDGAR filings. Retrieved November 2, 2026.
| Period | Operating margin (TTM) |
|---|---|
| FY23 Q3 | -857.0% |
| FY23 Q4 | -364.7% |
| FY24 Q1 | -421.1% |
| FY24 Q2 | -474.7% |
| FY24 Q3 | -489.4% |
| FY24 Q4 | -1905.8% |
| FY25 Q1 | -1735.7% |
| FY25 Q2 | -1626.4% |
| FY25 Q3 | -1867.9% |
| FY25 Q4 | -3146.7% |
| FY26 Q1 | -1264.6% |
| FY26 Q2 | -446.8% |
Source: SEC EDGAR filings. Retrieved November 2, 2026.
| Period | FCF margin (TTM) |
|---|---|
| FY23 Q3 | -1479.8% |
| FY23 Q4 | -30.1% |
| FY24 Q1 | -33.3% |
| FY24 Q2 | -47.6% |
| FY24 Q3 | -6.3% |
| FY24 Q4 | -196.1% |
| FY25 Q1 | -149.1% |
| FY25 Q2 | -166.2% |
| FY25 Q3 | -1160.3% |
| FY25 Q4 | -613.0% |
| FY26 Q1 | -723.7% |
| FY26 Q2 | -280.2% |
| Fiscal year | 2020 Dec 2020 | 2021 Dec 2021 | 2022 Dec 2022 | 2023 Dec 2023 | 2024 Dec 2024 | 2025 Dec 2025 | LTM Jun 2026 |
|---|---|---|---|---|---|---|---|
| Income | |||||||
| Revenue | 7 | 16 | 7 | 7 | 1 | 1 | 5 |
| Gross profit | 5 | 8 | 2 | 1 | 1 | −0 | 1 |
| EBITDA | −3 | −49 | −54 | −21 | −13 | −13 | −16 |
| Operating income | −4 | −53 | −60 | −26 | −18 | −18 | −20 |
| Net income | −6 | −53 | −60 | −26 | −28 | −20 | −21 |
| Diluted EPS | −$23.30 | −$0.72 | −$142.38 | −$58.71 | −$19.63 | −$5.78 | — |
| Growth (year on year) | |||||||
| Revenue | — | +120.0% | −58.7% | +3.5% | −86.3% | −41.6% | +433.1% |
| Margins | |||||||
| Gross margin | 60.4% | 50.3% | 36.4% | 19.3% | 66.5% | −38.5% | 21.1% |
| EBITDA margin | −41.1% | −296.8% | −802.5% | −295.0% | <−999% | <−999% | −348.2% |
| Operating margin | −49.7% | −323.0% | −885.1% | −364.7% | <−999% | <−999% | −446.8% |
| Net margin | −77.9% | −323.3% | −885.1% | −364.2% | <−999% | <−999% | −458.2% |
| Free-cash-flow margin | 62.7% | −141.5% | −463.6% | −30.1% | −196.1% | −613.0% | −280.2% |
| Cash flow | |||||||
| Cash from operations | 5 | −23 | −31 | −2 | −2 | −3 | −13 |
| Capital spending | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Free cash flow | 5 | −23 | −31 | −2 | −2 | −3 | −13 |
| Stock-based pay | 0 | 14 | 28 | 2 | 2 | — | — |
| Free cash flow after stock pay | 5 | −38 | −59 | −4 | −4 | — | — |
| Balance sheet | |||||||
| Cash | 4 | 33 | 0 | 0 | 0 | 0 | 1 |
| Total debt | 21 | 4 | — | 6 | 6 | 6 | 16 |
| Net debt (negative = net cash) | 17 | −29 | −0 | 6 | 6 | 6 | 15 |
| Diluted shares | — | — | — | — | 1m | 4m | — |
| Quarter | 2024 Q3 Sept 2024 | 2024 Q4 Dec 2024 | 2025 Q1 Mar 2025 | 2025 Q2 Jun 2025 | 2025 Q3 Sept 2025 | 2025 Q4 Dec 2025 | 2026 Q1 Mar 2026 | 2026 Q2 Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Income | ||||||||
| Revenue | 201 | 242 | 224 | 192 | 138 | 6 | 1,201 | 3,229 |
| Gross profit | 114 | 136 | 61 | 29 | −67 | −238 | 332 | 937 |
| EBITDA | −2,452 | −1,928 | −2,453 | −2,878 | −3,376 | −4,649 | −4,105 | −3,798 |
| Operating income | −3,660 | −3,125 | −3,348 | −3,820 | −4,556 | −5,884 | −5,173 | −4,822 |
| Net income | −7,934 | −8,813 | −3,175 | −3,747 | −4,442 | −8,572 | −4,721 | −3,225 |
| Diluted EPS | −$7.86 | $9.84 | −$9.42 | −$9.04 | −$1.19 | −$1.92 | −$2.49 | −$1.32 |
| Growth (year on year) | ||||||||
| Revenue | −29.7% | −95.6% | −13.7% | −25.4% | −31.4% | −97.4% | +436.5% | +>999% |
| Margins | ||||||||
| Gross margin | 57.0% | 56.5% | 27.4% | 15.1% | −48.8% | <−999% | 27.6% | 29.0% |
| EBITDA margin | <−999% | −797.7% | <−999% | <−999% | <−999% | <−999% | −341.8% | −117.6% |
| Operating margin | <−999% | <−999% | <−999% | <−999% | <−999% | <−999% | −430.7% | −149.3% |
| Net margin | <−999% | <−999% | <−999% | <−999% | <−999% | <−999% | −393.1% | −99.9% |
| Free-cash-flow margin | >999% | <−999% | −256.9% | −217.6% | <−999% | >999% | −688.2% | −65.4% |
| Cash flow | ||||||||
| Cash from operations | 2,399 | −2,833 | −575 | −417 | −5,399 | 2,961 | −8,265 | −2,113 |
| Capital spending | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Free cash flow | 2,399 | −2,833 | −575 | −417 | −5,399 | 2,961 | −8,265 | −2,113 |
| Last 12 months unless stated | SEGG | GIGM | MSGM | CTW | SNAL | GMHS | Median |
|---|---|---|---|---|---|---|---|
| Revenue, last 12 months | $5m | $3m | $15m | $83m | $86m | $105m | $166m |
| Revenue growth, last 12 months | 433.1% | 17.0% | 78.6% | −8.7% | −5.6% | −11.3% | 1.6% |
| Revenue growth, 3-year average | 21.7% | −38.6% | 19.7% | — | 16.5% | — | 16.5% |
| Revenue growth, latest quarter | >999% | — | 36.6% | — | −11.3% | — | 2.0% |
| Gross margin | 21.1% | 52.4% | 83.9% | 65.5% | 33.7% | 52.7% | 57.8% |
| Operating margin | −446.8% | −103.6% | 21.1% | −8.9% | −13.9% | 1.3% | −5.6% |
| Operating margin, 3-year average | −849.3% | −60.1% | −1.9% | — | −6.2% | — | −11.6% |
| Net margin | −458.2% | −44.7% | 16.2% | −5.0% | −11.2% | 4.1% | −4.9% |
| Cash from operations / revenue | −280.2% | −56.8% | 43.0% | −3.8% | 9.5% | 5.7% | 7.9% |
| Free-cash-flow margin | −280.2% | −58.1% | 43.0% | −4.3% | 9.5% | 5.0% | 6.7% |
| Free-cash-flow margin, 3-year average | −164.7% | −48.7% | −13.9% | — | 6.6% | — | 6.0% |
| Stock pay / revenue | 79.2% | 0.0% | 1.8% | 2.4% | 0.2% | 0.3% | 2.4% |
| Change in share count | −74.7% | 0.0% | 48.4% | 4.0% | — | 3.6% | 1.4% |
| Measure | Company | Peer median | Rank |
|---|---|---|---|
| Revenue growth Growth | 433.1% | 7.1% | 1 of 12 |
| Change in growth rate Growth | +366.7pp | +2.6pp | 1 of 12 |
| Gross margin Profitability | 21.1% | 56.0% | 9 of 9 |
| Operating margin Profitability | -446.8% | -2.4% | 12 of 12 |
| Net margin Profitability | -458.2% | -4.8% | 12 of 12 |
| Free-cash-flow margin Cash generation | -280.2% | 7.2% | 12 of 12 |
| Days sales outstanding Balance sheet | 61 days | 33 days | 10 of 10 |
Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).
| Manager | Value | Shares | Share of 13F value | Shares QoQ |
|---|---|---|---|---|
| Hollencrest Capital Management | $49 | 0K | 100.0% | — |
From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Sports Entertainment Gaming Global Corp's complete shareholder register. Values are as reported by the filers .
From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.
Next expected around August 15, 2022 estimated from the company's past filing pattern, not announced
| Data | Last updated | Source |
|---|---|---|
| Share price | Exchange closing prices | |
| Financial statements | SEC 10-K and 10-Q filings | |
| News and updates | Company releases and SEC 8-K filings | |
| Analyst estimates | Aggregated analyst estimates | |
| Valuation and scores | Our models, from the filed figures |
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