Noble Capital Markets sees the fair value of SEGG Media, the media platform that owns Sports.com, Concerts.com, and Lottery.com, at $20 per share, according to a coverage initiation report. This target price is more than 3.5 times the current share price. Analysts believe that under a new management, the company created after the collapse of Lottery.com has every chance to get back to growth.

Details

Noble has initiated coverage of SEGG Media with an "outperform" rating and a target price of $20 per share, implying more than 277% upside from the opening price today, September 15.

Noble's valuation assigns $101 million to its four domain names and $16 million to its assets while applying a 20% discount for execution risk.

Noble's rationale

The company was reconstituted following the collapse of Lottery.com, which had suffered from operational failures, liquidity shortfalls, and regulatory challenges that eroded investor confidence and forced restructuring. This reset has taken more than two years, with the final stage announced in late May. It has included a new board and management team, as well as $250 million in raised capital, which the company plans to use for acquisitions in particular. 

SEGG is pursuing an asset-light model combining digital platforms, sports media rights, and consumer venues, Noble writes, with four highly valuable domain names: Sports.com, Lottery.com, TicketStub.com, and Concerts.com. It believes this strategy positions SEGG to reestablish credibility with investors and execute a compelling growth plan.

The most significant near-term driver, Noble argues, is the acquisition of rights to the Boca Raton All-Sports Arena, a fully completed 100,000 square foot (about 9,300 square meter) featuring high-performance athletic spaces such as padel, pickleball, basketball, golf simulators, and a premium gymnasium. 

SEGG is also reviving Lottery.com as a mobile-first platform, Noble notes. It believes this is a "scalable, regulated business line with strong recurring revenue potential over time." The company announced plans to reenter the U.S. market in early September.

The AI translation of this story was reviewed by a human editor.

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