Latest Entertainment Sector News

FortifAI Limited reported a 15% decline in game revenue to $4.3 million for FY2025 but achieved a significant 72% reduction in net loss to $1.99 million, supported by operational cost cuts and a $3.6 million capital raise.

EVT Limited has announced a fully franked ordinary dividend of AUD 0.22 per share for the financial year ending June 30, 2025, payable in late September. This move underscores the company’s steady commitment to shareholder returns amid a dynamic entertainment sector.

Reef Casino Trust faces a new takeover challenge as Morris Group submits a conditional $191.7 million cash offer, competing with the board-backed Iris proposal. The trust’s Independent Board Committee urges unitholders to hold off while assessing the competing bids.

Swift Networks launches Swift TV, a Google-certified connected TV platform featuring a plug-and-play device and pre-loaded Netflix app, aiming to transform commercial entertainment spaces.

Donaco International Limited’s shares have been suspended from trading on the ASX following court approval of its acquisition by On Nut Road Limited. This marks a significant step in the company’s transition under new ownership.

Pentanet Limited has secured a $2 million finance facility to fund the final payment for its 5G spectrum licence, reinforcing its growth strategy in telecommunications and cloud gaming.

MIXI Australia Pty Ltd has initiated an all-cash off-market takeover bid for PointsBet Holdings Limited at $1.20 per share, a significant premium recommended unanimously by the PointsBet Board. The offer promises certainty of cash consideration amid competing bids and regulatory conditions.

Sports Entertainment Group upgrades its FY25 EBITDA forecast to $9m-$10m, driven by strategic divestments and new media initiatives, setting the stage for continued growth in FY26.

Reef Casino Trust reported stable 2024 financial results with steady distributions, while confidential takeover proposals from two groups are under board review. Operational challenges include rising regulatory costs and inflationary pressures.

ARN Media Limited’s 2025 AGM update highlights robust financial health, a strategic $40 million transformation program, and strong digital audio momentum despite a modest revenue dip year-to-date.

Mighty Kingdom Limited has completed its entitlement offer, raising approximately A$475,000 through the issuance of 95 million new shares, yet a significant shortfall remains to be placed with investors.

NZME Limited has received eight director nominations from major shareholders ahead of its June 2025 Annual Shareholders’ Meeting, prompting the Board to propose an alternative composition focused on digital transformation and governance stability.