Sports Entertainment Group provided its revised EBITDA and Revenue guidance

Sports Entertainment Group Limited (ASX: SEG) announced its revenue and underlying EBITDA guidance for FY23. For FY23, SEG expects the Group's underlying EBITDA to range between AU$4.5 million and AU$5.0 million. This guidance includes positive underlying EBITDA in the Australian segment, estimated to be between AU$7.0 million and AU$8.0 million, and negative underlying EBITDA in the New Zealand segment, anticipated to be between AU$2.5 million and AU$3.0 million.

The decline in underlying EBITDA compared to the corresponding prior period (pcp) and previous guidance can be attributed to significant investment costs in establishing new assets in Sydney, Queensland, and New Zealand. During FY23, SEG achieved a crucial milestone in its strategic ambition by expanding its radio presence and establishing a specialized sports media and entertainment business in Australia and New Zealand.

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