Welcome to our dedicated page for AESE news (Ticker: AESE), a resource for investors and traders seeking the latest updates and insights on AESE stock.
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) has appointed The Benchmark Company as its exclusive financial advisor to facilitate a potential business combination. The company is exploring investment opportunities to utilize its cash reserves to either acquire or merge with existing businesses. The engagement is expected to expedite this process. Co-Chairman and President Lyle Berman expressed confidence in Benchmark's ability to identify and execute a transformative merger and acquisition transaction, aiming to enhance shareholder value.
Allied Esports Entertainment (NASDAQ: AESE) is set to showcase the Allied Esports Truck at the Goodyear Cotton Bowl Classic on
Allied Esports Entertainment (AESE) reported a strong third quarter for 2021, with revenues soaring to $1.7 million, reflecting a 182% increase year-over-year. This surge was mainly attributed to the resumption of in-person events and increased traffic at its HyperX Esports Arena in Las Vegas. The company also improved its liquidity by selling the World Poker Tour for $105 million. However, despite this growth, AESE reported an adjusted EBITDA loss of $3.0 million, indicating ongoing challenges in profitability. The company is exploring strategic options for its esports business and has appointed new leadership to enhance growth.
Allied Esports Entertainment (NASDAQ: AESE) will report its third quarter 2021 financial results on
Allied Esports Entertainment (NASDAQ: AESE) announced a postponement of its third quarter earnings conference call initially set for today, due to a need for additional time to evaluate accounting for certain transactions. The company will submit a Notification of Late Filing to the SEC regarding its Form 10-Q for the quarter ending September 30, 2021, which was due on November 15, 2021. The company aims to file the report by November 22, 2021. The rescheduled call details will be announced later.
Allied Esports Entertainment (NASDAQ: AESE) announced significant changes to its Board of Directors and management team. On November 5, 2021, Alexander Misch resigned, and Jerry Qin was appointed as a Class B Director on November 11, 2021. Qin's background includes key roles at Tencent and TripAdvisor. Lyle Berman was named President, with a focus on managing investor relations and the sale of the Esports division. Yinghua Chen became Chief Investment Officer, and Adam Pliska will consult on acquisitions. These changes aim to enhance strategic direction and shareholder value.
Allied Esports Entertainment (NASDAQ: AESE) is set to host the first-ever UNO Championship Series Invitational Tournament on
Allied Esports Entertainment, Inc. (NASDAQ: AESE) announced it will release its third quarter 2021 results after market close on November 15, 2021. A conference call to discuss the results is scheduled for 2:00 p.m. PT / 5:00 p.m. ET. Participants can join by calling 1-877-407-0792 (US) or 1-201-689-8263 (international). A live webcast will be available on the company's Investor Relations site. A replay will be accessible until November 29, 2021, with dial-in options provided.
Allied Esports Entertainment, Inc. (NASDAQ: AESE) announced the adjournment of its Annual Meeting of Shareholders on October 14, 2021, due to the absence of a quorum. The meeting will be reconvened at a later date to be determined by the Board of Directors, allowing more time to solicit proxies for quorum requirements. A press release will follow to announce the new date and time.
Allied Esports Entertainment, Inc. (NASDAQ: AESE) has appointed Roy Anderson as its new Chief Financial Officer, effective immediately. Anderson succeeds Anthony Hung, who resigned last month. With over 25 years of experience in financial management and expertise in the Technology, Media, and Telecommunications sectors, Anderson is expected to strengthen AESE's financial and strategic operations. He previously held a partner position at Mazars USA and is a certified public accountant. The appointment aligns with AESE's ongoing exploration of mergers and acquisitions.
FAQ
What is the market cap of AESE (AESE)?
What is Allied Esports Entertainment, Inc.?
What are the key assets of Allied Esports?
What is the ELEVATED series?
How did Allied Esports perform financially in Q2 2023?
What recent strategic investments has Allied Esports made?
What is the significance of the HyperX Arena Las Vegas?
What are Allied Esports' plans for future growth?
How does Allied Esports support content creators?
What is the World Poker Tour (WPT)?
How can investors learn more about Allied Esports Entertainment?
