AESE - AESE STOCK NEWS

Allied Esports Entertainment (NASDAQ: AESE) has revised its stock purchase agreement with Element Partners, increasing the purchase price for its poker-related business to $90.5 million payable at closing. Key changes include raising the initial deposit from $4 million to $10 million and extending the termination date for conditions from March 31, 2021, to September 30, 2021. The Board of Directors unanimously approved the deal and determined Bally's Corporation's $90 million offer did not constitute a superior proposal. The transaction is expected to close in late April 2021.

Allied Esports (NASDAQ: AESE) and Brookfield Properties are hosting a three-day amateur esports event at First Colony Mall in Sugar Land, Texas, from March 26-28. This marks the first road outing for their popular "Saturday Night Speedway" featuring Mario Kart 8 Deluxe. The event includes in-person qualifiers and culminates with a live broadcast of the semifinals and finals. Players can also participate in an online qualifier on March 21. The Allied Esports Truck, a unique mobile gaming arena, will be on-site, and this event signals a return to in-person gatherings following pandemic restrictions.

Allied Esports Entertainment (NASDAQ: AESE) has noted that Bally's Corporation's revised proposal is a 'Superior Proposal' compared to the existing agreement with Element Partners, LLC. Bally's aims to acquire Club Services, Inc. for $90 million in cash, which includes the World Poker Tour assets. The company intends to terminate its agreement with Element unless negotiations are amended by March 19, 2021. Bally's had previously proposed a $100 million acquisition but revised it to mirror the current agreement's structure. There are no guarantees of a definitive agreement with Bally's.

Allied Esports Entertainment (NASDAQ: AESE) received an unsolicited acquisition proposal from Bally’s Corporation, offering $100 million for all outstanding equity interests. The proposal would require AESE to cancel its existing $78.25 million agreement with Element Partners to sell Club Services, Inc., which includes the World Poker Tour (WPT) business. The AESE Board is evaluating this proposal while recommending shareholders approve the Element transaction, expected to close around March 30, 2021, if consent is secured. No guarantee exists that a deal with Bally’s will finalize.

1,000 Dreams Fund has reopened its BroadcastHER Academy, an esports fellowship program aimed at empowering women in gaming. The initiative, funded by Allied Esports and HyperX, invites applicants to showcase their talents through a photo challenge. Selected fellows will receive a $1,000 microgrant, mentorship from industry executives, and unique opportunities, including a hands-on experience at HyperX Esports Arena Las Vegas. The program aims to address the gender pay gap and foster skilled women in a predominantly male industry. Applications for the 2021 challenge are open until March 18.

Allied Esports Entertainment (NASDAQ: AESE) has entered into an agreement with Element Partners to sell its poker-related assets, including the World Poker Tour (WPT), for $78.25 million. The deal comprises a $68.25 million upfront payment and a 5% revenue share on WPT tournament fees, capping at $10 million over three years. Post-transaction, the company plans to explore strategic options for its esports operations, potentially leading to a rebranding as a holding company focused on online entertainment.

Allied Esports, a leading esports entertainment company and a subsidiary of Allied Esports Entertainment (NASDAQ: AESE), has renewed its exclusive naming rights agreement with HyperX for the HyperX Esports Arena Las Vegas. The multiyear deal emphasizes prominent branding and co-branded events to enhance the gaming community experience. HyperX will continue to act as the Official Peripheral Partner, providing gaming equipment for tournaments. Since its opening in 2018, the arena has hosted over 500 events and attracted more than 300,000 visitors in 2019.

Allied Esports, a global esports entertainment company and a subsidiary of Allied Esports Entertainment (NASDAQ: AESE), has partnered with Trovo to launch the Trovo Holiday Royale. This event will feature three $10,000 mobile esports tournaments for popular Battle Royale games: Fortnite, PUBG Mobile, and Call of Duty Mobile, starting December 20, 2020. The competition spans nine days, with opportunities for players to win cash prizes and rewards for viewers. The initiative aims to engage the Trovo community and attract new users while rewarding loyal members.

Allied Esports, a global esports entertainment company and subsidiary of Allied Esports Entertainment (NASDAQ: AESE), has launched a 24-hour content strategy on Twitch. The initiative has garnered over 2 million live views since its pilot rollout in November, showcasing a mix of original productions, professional events, and community competitions. Notable content includes high-profile gaming events featuring stars like Ninja and Baker Mayfield. Additionally, the Saturday Night Speedway tournament is moving to YouTube to leverage its growing esports viewership.