Owners of SEN network respond to reports company is on verge of going under

Sports Entertainment Group has responded to a number of reports claiming the company is in serious danger of going under.

This week, The Age reported that a director’s note in an October-released annual report from the SEG empire – which includes SEN Radio – noted its status as a “material uncertainty”, given that it reported a loss of $9.3 million in FY23 and has only $1 million left available of a $28 million loan from Commonwealth Bank, which is due next August.

It was also reported that the company is now pitching to private investors in a bid to reduce its debt before the August deadline.