Noble Capital Initiates Lottery.com With Outperform Rating, $20 Target

Noble Capital Markets initiated coverage on Lottery.com parent SEGG Media (NASDAQ:SEGG) with an Outperform rating and a $20 price target, citing valuable brand assets and a refreshed growth strategy.

Formed after Lottery.com’s restructuring, SEGG was repositioned under new leadership with an asset-light model focused on digital platforms, sports media rights, and consumer venues. Its portfolio includes Sports.com, Lottery.com, TicketStub.com, and Concerts.com.

Sports.com was relaunched globally in 2025, and SEGG is preparing to open the Boca Sports Complex, a 100,000-square-foot facility featuring pickleball, basketball, golf simulators, and a premium gym, expected to be a near-term revenue driver.

The company also planned to revive Lottery.com as a mobile-first platform for purchasing and redeeming lottery tickets, with an international rollout in late 2025 followed by phased re-entry into U.S. markets pending licensing.

Noble valued SEGG’s domain assets at $101 million and its Boca Sports Complex at $16 million. Applying a 20% execution risk discount, the firm derived an enterprise value of $81 million, or $20 per share, supporting its bullish rating.