Seaport Entertainment Group Inc.: directors' dealings · United States · SEC (Form 4)

About Seaport Entertainment Group Inc.

Seaport Entertainment Group Inc. (NYSE: SEG) is a U.S.-listed company headquartered in New York, United States, operating at the intersection of hospitality, entertainment and real estate. The company was created through a separation from Howard Hughes Holdings and became an independent public company in 2024. Since then, SEG has positioned itself as a destination-driven platform focused on owning, operating and developing experiential assets that combine consumer traffic, place-making and real estate value creation. SEG’s portfolio is anchored in two main geographies: New York City and Las Vegas. In Lower Manhattan, the company owns and operates the Seaport district, a waterfront destination with a long maritime heritage that has been reimagined as a hub for dining, events, retail and cultural experiences. In Las Vegas, SEG owns the Las Vegas Aviators, a Triple-A minor league baseball franchise, together with Las Vegas Ballpark, which together give the company exposure to sports entertainment and live-event monetization. SEG also holds a minority interest in Jean-Georges Restaurants and has interests in additional partnerships tied to entertainment and hospitality operations. From a competitive standpoint, SEG is differentiated by a hybrid model rather than a pure-play real estate profile. Its strategy blends rental income, event programming, sponsorships, sports operations and partnership-driven food-and-beverage and entertainment concepts. That creates multiple revenue streams and gives the company an ability to extract value from high-visibility assets in dense, high-footfall markets. The model also gives SEG some optionality around redevelopment and re-tenanting, particularly where iconic urban assets can be refreshed with premium operators and culturally relevant concepts. Key business lines include property and venue management, event hosting, sponsorship income, sports operations via the Aviators, and participation in restaurant and entertainment partnerships. SEG has emphasized its ability to work with category-defining brands and operators, which helps support traffic, brand relevance and destination appeal. The company’s assets are concentrated, but that concentration is also part of the thesis: management is aiming to build distinctive, difficult-to-replicate destinations rather than a broad national portfolio. Recent corporate highlights include the sale of the 250 Water Street development site for $143.0 million, the repositioning of the Tin Building with the Balloon Museum concept, and the leasing or programming of more than 153,000 square feet during 2025. The company also highlighted a strong season for the Las Vegas Aviators. For investors, SEG remains a niche, experience-led NYSE name in the United States with a clear urban leisure and entertainment focus, where execution on asset repositioning, capital allocation and leasing momentum is central to the investment case.