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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, a subsidiary of Allied Esports Entertainment (NASDAQ: AESE), has partnered with the American Red Cross to host the first Rescue Royale charity esports tournament. This initiative aims to engage the gaming community for disaster relief fundraising. Participants can join a month-long stream-a-thon and compete in a tournament on October 16 at HyperX Esports Arena, Las Vegas. Donations during this event will support disaster relief efforts, as the Red Cross responds to over 60,000 disasters yearly, helping those affected by crises.
Allied Esports Entertainment, Inc. (NASDAQ: AESE) reported a 65% quarter-over-quarter revenue growth for Q2 2021, totaling $0.8 million, driven by increased in-person events post-COVID-19. The company completed the sale of the World Poker Tour for $105 million, significantly enhancing liquidity with over $100 million in cash. Operating losses narrowed to $4.3 million vs. $10.7 million year-over-year. CEO Libing Wu highlighted ongoing developments in the esports sector and announced AE Studios launch for original content production. Future strategic explorations for esports business are underway.
Allied Esports, a subsidiary of Allied Esports Entertainment (NASDAQ: AESE), reported significant viewer engagement with 13.4 million live views and 7.6 million unique views on Twitch since November 2020. The company added 46,752 Twitch followers and expanded its distribution through four new OTT streaming services via MuxIP. Allied Esports continues to deliver diverse esports content, featuring well-known games and events. It operates the HyperX Esports Arena in Las Vegas and is recognized for its innovative contributions to the esports entertainment sector.
Allied Esports Entertainment (NASDAQ: AESE) will report its second quarter 2021 results on August 16, 2021, after market close. A conference call to discuss the results will take place at 2:00 p.m. PT / 5:00 p.m. ET. Participants can join by dialing 1-855-327-6837 (US) or 1-631-891-4304 (international). The call will also be available via live webcast on the Company’s Investor Relations site. A telephonic replay will be accessible until August 30, 2021. For more details about the company and its services, visit alliedesports.gg.
Allied Esports, a global esports entertainment company, has partnered with NASCAR to bring gaming experiences to racing fans in 2021 through the Allied Esports Truck, a unique 18-wheel gaming arena. The tour will visit seven NASCAR Cup Series races, starting August 6-8 in Watkins Glen, NY, and concluding November 4-7 in Phoenix, AZ. Fans can participate in gameplay featuring popular games and have a chance to experience a demo of the new NASCAR 21 video game. This collaboration aims to integrate gaming into the racing experience, potentially attracting new audiences.
Allied Esports Entertainment (NASDAQ: AESE) announced the resignation of CEO Frank Ng, effective July 13, 2021. Libing (Claire) Wu has been appointed as the new CEO, President, and General Counsel. Ms. Wu, formerly an Independent Director, brings over 15 years of legal and corporate experience. The Board emphasized her crucial role in navigating the transition following the World Poker Tour sale. Wu expressed her commitment to driving growth and results for shareholders.
Allied Esports Entertainment (NASDAQ: AESE) announced the sale of the World Poker Tour (WPT) to Element Partners for $105 million. This sale was approved by stockholders on July 1, 2021, and involves all entities operating the WPT's poker-related business. Following this transaction, AESE will concentrate on expanding its esports business with additional cash resources from the sale. CEO Frank Ng emphasized this as a significant opportunity for growth and innovation.
Allied Esports, a leader in esports entertainment and a subsidiary of Allied Esports Entertainment (NASDAQ: AESE), has launched AE Studios. This new division focuses on original content development and production services beyond esports tournaments. AE Studios aims to leverage its digital content experience and production facilities in Las Vegas and Hamburg to create projects across various industries, including gaming and entertainment. Its inaugural project, CelebriTee Showdown, is set to stream on Twitch Sports, featuring celebrities competing in golf games.
Allied Esports Entertainment, Inc. (NASDAQ: AESE) announced that its virtual Special Meeting of Stockholders, initially set for June 28, 2021, was adjourned due to lack of quorum. The meeting will reconvene on July 1, 2021, to enable stockholders to vote on crucial proposals, including the sale of Club Services, Inc. to Element Partners, LLC. Stockholders of record as of May 27, 2021, can participate and vote online or by proxy. Updated proxy materials are accessible on the SEC website.
Allied Esports Entertainment (NASDAQ: AESE) announced a Special Meeting on June 28, 2021, to vote on the sale of 100% of Club Services, Inc. (CSI) to Element Partners, LLC. CSI manages the company's poker-related assets. The agenda includes a proposal to adjourn the meeting if needed. Ourgame International, AESE's largest stockholder, with a 30.6% stake, must approve the sale at its extraordinary general meeting on June 30, 2021. If AESE lacks sufficient votes on the 28th, the meeting will be postponed until after the Ourgame Meeting.
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