Marc Bircham
Executive Chairman of the Board

Good morning, and welcome to the 2025 Annual Meeting of Stockholders of Sports Entertainment Gaming Global Corporation. I am Marc Bircham, Chairman of the Board, I will serve as Chair of today’s meeting.

This meeting is being held virtually via live audio webcast. Before turning to the formal items of the business, I would like to welcome the other members of our Board of Directors to today’s meeting. Mr. Tam Hassan; Mr. Christopher Gooding; Mr. Paul Jordan; and Mr. Warren Macal.

I’d also like to acknowledge the other members of our management team who are present at today’s meeting, including Rob Stubblefield, our Chief Financial Officer, Interim CEO and President; who will act as secretary of the meeting; Dennis Ruggeri, our Compliance Officer; and Greg Potts, our Chief Operator; also joining us today is Amar Ali, the company’s outside General Counsel; and Boladale Lawal & Co, the managing partner of our company’s independent accounting firm.

Finally, I would like to welcome Vito Cirone, representative of Continental Stock Transfer and Trust Company, who is with us today and has taken an oath of the inspector of election. That oath will be filed within minutes of this meeting. This meeting is now called to order. We will conduct the formal part of the meeting and most of votes have been taken and the polls are closed. The votes will be report concluding the formal part of the meeting. Therefore, they will answer any appropriate questions during the meeting from stockholders that was submitted in advanced and posted in accordance with the meeting rules of conduct and

As artificial intelligence continues to redefine how information is created, summarized, and distributed, news organizations face one of the most significant structural challenges in modern media history.

Search engines increasingly rely on AI-generated responses, social platforms prioritize algorithmic summaries, and audiences often encounter journalism through fragments rather than full articles.

At the center of this transformation is Dev Pragad, President, Chief Executive Officer, and co-owner of Newsweek, who has emerged as one of the most outspoken media leaders addressing the long-term implications of AI on journalism. Rather than framing artificial intelligence as a short-term disruption, Pragad has described it as a permanent shift that requires publishers to rethink the foundations of their business models.z

AI and the Changing Economics of Information

For more than two decades, digital publishing operated on a relatively stable formula: create content, rank in search engines, generate page views, and monetize traffic through advertising. Artificial intelligence has begun to destabilize that system.

AI-powered interfaces now summarize news events, answer complex questions, and extract insights directly from publisher content—often without directing users back to the source. This development has intensified concerns across the media industry about declining referral traffic and diminishing visibility.

According to Pragad, this trend signals the end of an era in which traffic alone could serve as the primary indicator of success. Instead, publishers must now prepare for a future in which distribution is increasingly mediated by AI systems rather than traditional search results.

He has noted that while AI tools rely heavily on journalism as a source of information, the value exchange between platforms and publishers remains uncertain. This imbalance has prompted Newsweek to focus on resilience rather than dependency.

From Traffic Optimization to Structural Resilience

Under Dev Pragad’s leadership, Newsweek has gradually shifted its internal priorities away from pure traffic maximization toward what he describes as organizational resilience.

The goal is not to eliminate traffic as a metric, but to ensure that the business remains sustainable even as traffic becomes less predictable.

This philosophy represents a notable departure from earlier digital media strategies that prioritized viral reach and search dominance above all else.

AI as Both Threat and Catalyst

While artificial intelligence presents clear risks to publishers, Pragad has also characterized it as a catalyst for overdue change within the media industry.

In his public commentary, he has emphasized that journalism has long been overly dependent on intermediaries—search engines, social networks, and aggregators—that control distribution but not content creation. AI, in this view, merely accelerates a dynamic that already existed.

Rather than attempting to outcompete AI systems directly, Newsweek’s strategy has been to focus on what AI cannot easily replicate:

• original reporting
• expert interviews
• verified data-driven rankings
• long-form analysis
• video and visual storytelling

By investing in these areas, the organization aims to preserve relevance even as automated summaries become more prevalent.

Developing AI-Resistant Content Formats

One area of focus under Pragad has been the expansion of editorial formats that resist commoditization.

For example, structured research projects and rankings require proprietary datasets, methodological transparency, and editorial oversight—elements that are difficult for generative systems to reproduce independently. These formats also serve dual purposes: reinforcing editorial authority while supporting diversified revenue streams.

Similarly, Newsweek has increased its investment in video programming, which plays a growing role in how audiences engage with news across platforms. Video interviews, panel discussions, and explainers maintain context and nuance that text-based AI summaries often lack.

In an AI-mediated environment, such formats help anchor content to the originating brand rather than allowing it to dissolve into anonymous information.

Revenue Diversification in the AI Era

A central theme of Newsweek’s AI resilience strategy has been the diversification of revenue sources.

Historically, programmatic advertising accounted for a large share of digital publisher income. However, fluctuating traffic patterns and declining ad yields have exposed the vulnerabilities of that model.

Under Pragad’s leadership, Newsweek has pursued revenue streams that are less sensitive to algorithmic shifts. These initiatives are designed to ensure that financial stability does not depend exclusively on how AI systems choose to surface content.

By broadening its commercial foundation, Newsweek aims to maintain editorial independence even as external platforms evolve.

Brand Identity in an AI-Fragmented Landscape

Another dimension of AI resilience involves brand visibility. As news increasingly appears in partial or summarized form, recognition becomes more difficult.

Pragad has argued that strong brand identity functions as a signal of trust in environments where users may not encounter full articles or traditional layouts. This belief informed Newsweek’s recent redesign, which sought to unify typography, visuals, and editorial tone across formats.

The objective was not aesthetic modernization alone, but strategic clarity: ensuring that when Newsweek content appears within AI-generated environments, social feeds, or multimedia platforms, it remains identifiable.

In an era of fragmentary consumption, brand coherence becomes a form of editorial defense.

Editorial Trust in the Age of Synthetic Content

The proliferation of AI-generated text has intensified concerns around misinformation and authenticity. In response, Pragad has emphasized the importance of transparency, sourcing, and accountability.

As synthetic content becomes easier to produce at scale, established news organizations face renewed responsibility to differentiate verified journalism from automated narratives.

Newsweek’s editorial framework under Pragad stresses the role of human judgment, fact-checking, and institutional oversight—elements that AI systems depend on but cannot independently guarantee.

In this context, trust becomes not only an ethical imperative but a competitive advantage.

Leadership Perspective on AI Regulation and Collaboration

While public debate continues around AI regulation, Pragad has advocated for dialogue between technology companies and publishers rather than unilateral solutions.

He has suggested that sustainable information ecosystems will require clearer frameworks governing attribution, licensing, and value sharing between AI platforms and content creators.

Although no single regulatory model has yet emerged, Pragad has positioned Newsweek to remain adaptable regardless of outcome—another reflection of the organization’s resilience-first mindset.

What Dev Pragad’s Strategy Signals for the Industry

The approach taken by Dev Pragad offers broader insight into how media organizations might navigate AI disruption.

Rather than relying on short-term defensive measures, his strategy emphasizes:

• long-term adaptability
• diversified economic foundations
• brand-centered distribution
• editorial credibility as infrastructure

This model does not eliminate the challenges posed by artificial intelligence, but it reduces existential risk by ensuring that journalism’s value extends beyond raw traffic.

Conclusion

As artificial intelligence reshapes the flow of global information, the decisions made by media leaders today will influence the future of journalism for decades.

Through a focus on resilience, diversification, and editorial trust, Dev Pragad has positioned Newsweek to confront these changes with strategic clarity rather than reactionary fear.

In an age when information increasingly travels through automated systems, his approach highlights a central truth: while technology may transform distribution, the enduring value of journalism lies in credibility, context, and human judgment.

A High Court judge has ruled that thousands of people affected by a major data breach at Capita can continue with their legal action against the outsourcing group, in a decision being described as a landmark for large-scale data privacy claims in the UK.

In a judgment handed down on 9 February, Master Dagnall rejected arguments from Capita’s legal team that solicitors acting for more than 8,000 claimants had abused the court process. Capita had claimed that the use of repetitive or generic descriptions of mental distress following the 2023 cyber attack undermined the validity of the claims.

The ruling allows the case, brought by Barings Law, to proceed and is likely to be closely watched by companies, regulators and claimant law firms involved in data protection litigation.

Barings launched the action in 2023 after a cyber attack exposed the personal data of around 6.6 million individuals, including Capita employees. The compromised information is understood to include sensitive financial and pension details.

Capita’s lawyers had applied to have the claims struck out, alleging that Barings improperly influenced evidence relating to claimants’ anxiety and psychological distress following the breach. However, Master Dagnall concluded that Capita had failed to demonstrate that any abuse of process had occurred.

In his judgment, the judge said solicitors had a “real basis” and were entitled to a “wide latitude” when preparing evidence in cases involving large numbers of claimants. He also noted that clients had given informed consent to Barings to act on their behalf. Striking out the claims, he added, would have been a “draconian step”.

Adnan Malik, head of data protection at Barings Law, said the decision was a significant victory for those affected. “From day one this case has centred on the rights of ordinary individuals against a major corporation which catastrophically failed to protect their privacy,” he said.

“For Capita to attempt to play down the seriousness of the impact was wrong, and today’s judgment affirms that the welfare of data breach victims is being taken seriously by the courts.”

Robert Whitehead, chairman of Barings Law, said the ruling reinforced the firm’s commitment to pursuing accountability in large-scale privacy cases. “Capita has played fast and loose with its customers’ data, and that has had an inevitable impact on the health and wellbeing of those affected,” he said. “We see today’s decision as a vindication of our claimants’ rights and an important signal for future data breach cases.”

While the ruling does not determine whether claimants will ultimately succeed, it clears a major procedural hurdle. The court said substantive questions around the extent of harm suffered by victims will be examined at a later trial, as the case against Capita now moves to its next phase.

Amy Ingham

Amy is a newly qualified journalist specialising in business journalism at Business Matters with responsibility for news content for what is now the UK’s largest print and online source of current business news.

Gibfield Park scheme also includes new trunk road

Plans have emerged for a new neighbourhood including 500 homes and a country park.

The plans to create Gibfield Park, between Atherton and the Daisy Hill area of Weshoughton, also include 45,500 sqm of employment floorspace and creating a section of trunk road which is part of a strategy to better link the M61 to the M6 in an east west direction.

Developers Peel Land said Gibfield Park is allocated for development in the regional Places for Everyone Plan (PfE), the long-term joint development plan of nine Greater Manchester authorities.

The policy requires the site to be brought forwards in accordance with a masterplan that is approved by Wigan council.

The masterplan is currently being prepared by Peel Land, as landowner. It has launched a public consultation on the draft proposals.

The masterplan includes up to 500 new homes across two sites close to North Road and Gibfield Park Way, 45,500 sqm of employment floorspace, the extension of Gibfield Park Way northwards and the creation of a country park.

Peel said the park would ‘preserve green belt land between Atherton and Westhoughton’.

A consultation website, set up by Peel Land, said: “Gibfield Park is strategically located within NorthFold growth corridor, one of the key growth locations within the city-region.

“The NorthFold strategic vision was established in 2025 as a collaboration between Wigan and Bolton councils, working together with Greater Manchester Combined Authority and development partners including Peel Land.

“Peel Land is proud to be bringing forward this proposed masterplan, continuing our commitment to sustainable development and strong community partnerships.”

Another Peel Group developer, Northstone, along with with affordable housing provider Torus is currently completing the construction of 113 affordable homes, known as Popple, off Stothert Street, Atherton, next to Gibfield Park.

Peel Land, added: “A key element of the emerging proposals is a country park for all to use, approximately 29 hectares in size (equivalent to around 40 football pitches). The Country Park will be accessible from both the east and west to integrate it into the new and existing communities.

“The park will deliver habitat enhancement, creation and long-term protection through ecologically led landscape design.

“The focus will be on improving existing habitats and creating new features, including a series of wetland pockets in the central area.

“The park will include a 1km walking and running loop that will be accessible to all, as well as a heritage trail providing information about the coal mining history of the site. “

Peel said following the consultation, feedback will be reviewed as they move towards finalising the masterplan for approval by Wigan Council.

Each of the proposals for housing and employment space will require separate planning applications, subject to the masterplan being approved.

The consultation information can be found at https://gibfieldpark.consultationonline.co.uk/.

The business secretary, Peter Kyle, has urged small businesses to rediscover Britain’s exporting spirit, calling on entrepreneurs to take a “leap of faith” and start selling overseas with the backing of government finance and advice.

Speaking to an audience of small business owners at the UK Trade and Export Finance Forum in London last week, Kyle warned that the UK was losing momentum as an exporting nation. Official figures show that the proportion of UK companies that have ever exported has fallen from 45 per cent to 38 per cent in recent years.

Kyle said reversing that trend was a priority for the government, arguing that international demand for British goods and services remains strong. Drawing on recent visits to China, Japan and the World Economic Forum in Davos, he told delegates there was a “great thirst for Britain”.

“I accept that exporting for the first time is different, it’s difficult and it’s novel,” he said. “Anything that’s novel takes a bit of getting used to and a bit of confidence and enthusiasm to jump into. Sometimes it takes a leap of faith.”

Kyle suggested many SMEs underestimate both the level of overseas demand and the support available to help them expand internationally. He pointed to the £11 billion trade finance lending package announced at the end of January, funded through the balance sheets of five major high street banks.

Under the scheme, UK Export Finance will guarantee up to 80 per cent of loans, while also providing advisory support to help businesses navigate international markets.

“I understand that the world looks intimidating at the moment,” Kyle said. “I’m not sitting here saying everything’s perfect. But what investors are seeing is the right direction of travel.”

However, business groups warned that encouragement alone would not be enough. Tina McKenzie, policy chair at the Federation of Small Businesses, said many small firms were willing to take the risk of exporting — but only if the government improved its offer.

“Small businesses need clear, practical help to navigate trade rules, paperwork and market access, particularly when trading with the EU and beyond,” she said. “If we want more firms to export, policy needs to make it simpler, cheaper and more predictable, so businesses can take that step with confidence rather than crossing their fingers.”

On stage, Kyle highlighted four trade agreements signed since the government took office, with India, China, the US and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, arguing they provided a foundation of stability. But he acknowledged that signing deals was only the beginning.

“It takes time to get goods flowing and services delivered,” he said. “And it takes a while to get the legal aspects nailed down so the agreements can be fully enforced.”

Some business leaders questioned how much smaller firms would really benefit. Simon Holloway, commercial director at Dynisma, a Bristol-based developer of simulators for Formula 1 drivers, said the complexity of trade deals often left SMEs struggling to engage.

“We don’t have time to figure out what is going on,” he said. “We’re running 100 miles an hour trying to scale our businesses and secure jobs.”

Tim Reid, chief executive of UK Export Finance, accepted that awareness remained a challenge. “Small businesses are good with ideas, but short on time,” he said. “We need to make it as easy as possible for them.”

Despite the obstacles, Kyle argued that periods of uncertainty could also create opportunity. “Be bold and confident in yourself, your skills and fundamentally the products and services your business offers,” he said.

Some companies are already doing just that. Urban Apothecary, a Leicester-based home fragrance brand, now sells into 35 countries. Liz Ripley, its head of global partnerships, said using distributors had helped the business manage risk, with support from the Department for Business and Trade helping it enter new markets such as South Korea.

Paul Sopher, director at Joe & Seph’s, which exports its artisan popcorn from north London to 19 countries, said the department had also been a useful sounding board when assessing new overseas customers.

Kyle ended with a clear message for hesitant entrepreneurs: “I want to see more start-ups and scale-ups taking risks, building up, branching out and breaking into new markets, backed up by government action.”

Jamie Young

Jamie is Senior Reporter at Business Matters, bringing over a decade of experience in UK SME business reporting.
Jamie holds a degree in Business Administration and regularly participates in industry conferences and workshops.

When not reporting on the latest business developments, Jamie is passionate about mentoring up-and-coming journalists and entrepreneurs to inspire the next generation of business leaders.