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Allied Esports Entertainment, Inc. (NASDAQ: AESE) is a global leader in esports entertainment, delivering cutting-edge infrastructure, transformative live experiences, and engaging multiplatform content to audiences worldwide. The company operates through two influential brands: Allied Esports and the World Poker Tour (WPT).
Allied Esports boasts premier assets like the HyperX Arena Las Vegas, recognized globally as a top esports facility. The company also utilizes mobile arenas, known as Allied Esports Trucks, to bring world-class gaming events directly to fans. Allied Esports is committed to hosting top-tier tournaments, live and virtual events, and creating original programming that fosters a vibrant gaming community.
The company’s recent projects include the second season of ELEVATED, a content series presented by Progressive Insurance. The competition spotlights smaller streamers, giving them an opportunity to shine in front of over 35 million followers through challenges ranging from gaming to cooking. This initiative aligns with Allied Esports’ mission to support and nurture emerging content creators.
Financially, Allied Esports Entertainment has demonstrated significant growth. In Q2 2023, the company reported revenues of $3.3 million, a 182% increase compared to the previous year. This surge was driven by successful sponsorships and original content production. Despite a net loss, the company managed to improve its EBITDA, reflecting robust operational management and strategic investments.
Allied Esports has also expanded its reach with strategic investments, such as acquiring a controlling interest in Beijing Lianzhong Zhihe Technology Co., a leading mobile games developer. This move is expected to be immediately accretive and will bolster Allied’s footprint in the mobile gaming sector.
Moreover, Allied Esports continues to enhance its partnerships, such as the extension of the naming rights agreement with HyperX/HP, ensuring the HyperX Arena Las Vegas remains a premiere destination. The company’s focus on reducing costs while expanding revenue streams underscores its commitment to profitability and delivering value to its shareholders.
With a strong balance sheet and ongoing efforts to streamline operations, Allied Esports Entertainment is well-positioned to continue its leadership in the esports and entertainment industry, providing unique and engaging experiences for gamers worldwide.
Allied Esports Entertainment (NASDAQ: AESE) reported Q4 and full-year 2021 financial results, showing a significant recovery post-COVID-19. Q4 revenues reached $1.9 million, up 108% year-over-year, while total revenues for 2021 hit $5.0 million, a 54% increase. The company's net loss narrowed to $6.3 million in Q4 from $18.9 million in the prior year, bolstered by cash reserves of $98 million. AESE is actively exploring strategic alternatives and investment opportunities as it continues expanding its esports operations.
Allied Esports Entertainment, Inc. (NASDAQ: AESE) announced that the Nasdaq Listing Qualification Department notified it about non-compliance with listing rules due to delayed filings of Form 10-Q and Form 10-K. The company has until June 20, 2022, to submit a plan to regain compliance. Following the sale of its World Poker Tour business in July 2021, AESE is coordinating with WPT for necessary details to complete its filings. The company plans to file its Form 10-K for the year ended December 31, 2021, by May 25, 2022, and will hold a conference call with investors thereafter.
Allied Esports Entertainment, Inc. (NASDAQ: AESE) announced it will release its fourth quarter and full year 2021 results on May 25, 2022, after market close. The Company will hold a conference call at 2:00 p.m. PT / 5:00 p.m. ET to discuss the results. Participants can join by dialing 1-877-407-0792 (U.S.) or 1-201-689-8263 (International). A live webcast will also be available on the Company's Investor Relations site. A replay will be accessible until June 8, 2022, with passcode 13730215.
Allied Esports Entertainment, Inc. (NASDAQ: AESE) announced it received a notice from Nasdaq regarding non-compliance with filing requirements due to the late submission of its Annual Report on Form 10-K for the fiscal year ended December 31, 2021. The Company has 60 days to submit a compliance plan, with a possible extension of up to 180 days if accepted. Failure to comply may lead to delisting. The company is currently coordinating with a third party to resolve issues related to the World Poker Tour sale to facilitate the Form 10-K.
Allied Esports Entertainment (NASDAQ: AESE) announced its intention to file a Form 12b-25, extending the deadline to file its Annual Report on Form 10-K for the fiscal year ending December 31, 2021, until April 15, 2022. The Chief Financial Officer, Roy Anderson, cited additional time required to complete the audit as the reason for the delay. Consequently, the company is postponing its earnings conference call originally set for March 30, 2022, with updated details to follow.
Allied Esports Entertainment, Inc. (NASDAQ: AESE) announced it will report its fourth quarter and full year 2021 results after market close on Wednesday, March 30, 2022. A conference call will follow at 2:00 p.m. PT / 5:00 p.m. ET to discuss the results. Participants can join by dialing 1-877-407-0792 or 1-201-689-8263. A live webcast will be available on the company’s Investor Relations website. For those unable to attend live, a replay will be accessible until April 13, 2022, using the replay passcode: 13726041.
Allied Esports has announced its entry into the NFT market with the launch of EPICBEAST. The presale starts on
Allied Esports Entertainment, Inc. (NASDAQ: AESE) has launched a new content series titled ELEVATED Presented by Progressive Insurance, aimed at promoting emerging Twitch streamers. The series will debut on
Allied Esports Entertainment (NASDAQ: AESE) announced the resignation of CEO Libing (Claire) Wu, effective February 18, 2022. Lyle Berman, co-Chairman, will serve as Interim CEO, while Yinghua Chen, previously Chief Investment Officer, will take on the roles of President and Secretary of the Board. The leadership transition aims to support ongoing M&A activities as the company seeks to maximize shareholder value. Additionally, Jerry Lewin has resigned as a Class C Director, and Yushi Guo has been appointed to the Board. This change signifies a renewed focus on operational management and strategic ventures.
Allied Esports Entertainment (NASDAQ: AESE) has renewed its partnership with NASCAR, launching the eNASCAR Arcade on the Allied Esports Truck at 17 Cup Series race weekends starting February 19-20 at the DAYTONA 500. Following successful events in 2021, the arcade will offer fans interactive racing experiences through iRacing simulators. CEO Jud Hannigan expressed excitement about providing more opportunities for fans to engage with the sport. The truck, debuting in 2018, has been a highlight at major events, enhancing the fan experience across North America.
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