SEG quarterly financial performance update

Sports Entertainment Group (ASX:SEG) has revealed its financial results for the quarter ending 30 September 2024. The company reported a net cash inflow of $5.5 million, driven by $0.6 million from operating activities and $21 million from the sale of Perth Wildcats shares. Additionally, SEG repaid a significant portion of its debt, reducing it to $11.5 million. The company ended the quarter with a cash balance of $16.1 million and announced a dividend post-quarter.

SEG quarterly results and strategic outlook

Sports Entertainment Group (ASX:SEG) reported a robust financial performance for the quarter ending 30 September 2024, with a net cash inflow of $5.5 million. The company successfully generated $21 million from the sale of Perth Wildcats shares, while also achieving a net operating cash inflow of $0.6 million. SEG made significant progress in reducing its debt by repaying $12.6 million, resulting in a remaining balance of $11.5 million, with the debt facility extended until March 2027. The company's cash balance stood at $16.1 million at quarter-end. Following the quarter, SEG distributed a fully franked dividend of 2 cents per share, amounting to $5.5 million, reinforcing its commitment to shareholder returns. SEG continues to focus on strengthening its financial position and delivering value through strategic initiatives across its diverse media platforms.

Executive insights on SEG's financial achievements

We are pleased to report a strong cash flow performance this quarter, reflecting our strategic initiatives and successful sale of the Perth Wildcats shares. The substantial debt repayment enhances our financial position and demonstrates our commitment to delivering value to our shareholders.