Ticketek parent company appoints debt specialists following major losses

The owner of the Australian event ticketing platform Ticketek has brought in debt specialists to assist with its financial difficulties, the Daily Mail reported. Private equity fund Silver Lake appointed two distressed-debt specialists to the board of TEG, the parent company of Ticketek, in September 2026. The Daily Mail said the move followed a recorded loss of about 140 million dollars in the previous financial year under former chief executive officer Brad Banducci. [1]

The Daily Mail reported that Silver Lake has also sought an emergency loan of 52.5 million United States dollars to keep the business operational. The California-based asset management firm originally purchased TEG in 2019. The company has faced financial pressure alongside a series of high-profile event cancellations. [1]

Ticketek is an Australian event ticketing company headquartered in Sydney that handles ticketing operations for entertainment and sporting events in Australia and New Zealand. The company was originally established in 1979 by Kerry Packer's Publishing and Broadcasting Limited as Best Available Seating Service Pty Ltd to process central ticket sales for World Series Cricket. The entity rebranded to Ticketek as it expanded, and it is currently owned by TEG Pty Ltd. [2][3]