Allied Gaming & Entertainment Announces Partnership with World Poker Tour® and Wynn Macau

Rhea-AI Summary

Allied Gaming & Entertainment, Inc. (AGAE) partners with World Poker Tour and Wynn Macau to bring WPT event to Macau. AGAE to assist in marketing, production, and management of future WPT events in Macau. WPT Macau festival to run from June 18-24, featuring a Championship event and a High Roller event. Positive outlook for AGAE's expansion in the entertainment market.

Insights

Market Research Analyst

The strategic alliance between Allied Gaming & Entertainment, Inc. (AGAE), World Poker Tour (WPT) and Wynn Macau signifies a robust entry into the Asian gaming market for AGAE. This move is likely to enhance the company's visibility in Asia, particularly in Macau, which is known as the 'Las Vegas of Asia.' The introduction of the WPT event in Macau could be a catalyst for AGAE's growth, given Macau's established reputation as a gaming hub.

From a market research perspective, the partnership could potentially increase foot traffic and tourism, leading to higher revenue streams not only for AGAE but also for local businesses, including hospitality and retail sectors. The decision to host a high-profile event like the WPT can also be seen as a strategic marketing effort to reinforce Macau's position as a premier destination for global entertainment and leisure.

However, it's important to monitor the regulatory environment in Macau, as changes in gaming laws and regulations could impact the success of such events. Additionally, the success of the inaugural event will be pivotal in determining the long-term potential of this partnership and its impact on the stock's performance.

Financial Analyst

From a financial standpoint, the collaboration between AGAE, WPT and Wynn Macau should be scrutinized for its ability to translate into quantifiable earnings for AGAE. The partnership's timing is noteworthy, considering Macau's recovery from previous travel and gaming restrictions. The buy-ins for the events, HK$40,000 for the Championship and HK$200,000 for the High Roller event, suggest that the target demographic is high-net-worth individuals, which could lead to significant revenue generation.

Investors should assess the potential for increased revenue against the costs associated with hosting such events. The direct financial impact will depend on the event's success in attracting participants and spectators. The indirect impact, such as brand strengthening and expanded market reach, may have longer-term financial benefits that are not immediately quantifiable but can enhance shareholder value over time.

It is also critical to evaluate how this partnership fits into AGAE's overall growth strategy and whether it aligns with the company's financial goals. The market's reaction to this news will provide further insight into its perceived value.

Gaming Industry Analyst

The partnership between AGAE and WPT, facilitated by Wynn Macau, is a strategic move within the gaming and entertainment industry. The entry of WPT into Macau, a region with a strong gaming culture and infrastructure, can be seen as a natural progression for the brand. This partnership leverages AGAE's expertise in event management and WPT's brand recognition to deliver a high-stakes, high-profile poker event.

The gaming industry often relies on such events to drive engagement and media attention, which in turn can boost the host venue's reputation and profitability. The presence of legendary poker players and a high roller event could attract a global audience, providing AGAE with significant exposure and possibly leading to further expansion opportunities in the region.

For stakeholders, the key factors to watch will be the execution of the event, the response from the poker community and the overall attendance figures. These will serve as indicators of the partnership's effectiveness and its potential impact on AGAE's position within the gaming industry.

NEW YORK--(BUSINESS WIRE)-- Allied Gaming & Entertainment, Inc. (NASDAQ: AGAE) (the “Company” or “AGAE”), a global experiential entertainment company, today announced a partnership with World Poker Tour®, (“WPT®”), and Wynn Macau, in which the companies will work together to bring an inaugural WPT event to Macau. AGAE was instrumental in facilitating the collaboration and will assist in the marketing, production and management of this and future planned WPT events in conjunction with Wynn Macau.

“‘We are thrilled to be joining forces with two esteemed global partners, bringing the World Poker Tour to Macau, SAR, P.R. China. With a shared commitment to enhancing offerings in this burgeoning entertainment market, we are poised to make a significant impact,” said Yinghua Chen, Chief Executive Officer of AGAE. “This marks WPT’s inaugural physical presence in Macau after over two decades of operation. As we expand our Allied Experiential Entertainment business, this collaboration represents another exciting advancement, leveraging our extensive resources and expertise in hosting world-class events to create unforgettable experiences in this dynamic market.”

In partnership with AGAE, World Poker Tour will be at Wynn Macau for the first time in June to host WPT Macau. This marquee festival will run from June 18-24 and will feature the Championship event taking place from June 20-24 with a buy-in of HK$40,000. The festival will also be highlighted by a WPT High Roller event with a buy-in of HK$200,000 from June 19-20.

“Macau has long been a sought-after destination for us, wanting to deliver the WPT experience to the region,” said Adam Pliska, WPT CEO. “Thank you to AGAE and Wynn Macau for making this dream come true. We look forward to an incredible event.”

Ms. Linda Chen, President, Vice Chairman of the Board and Executive Director of Wynn Macau, Limited, said, “We are thrilled to partner with AGAE to host one of the most prestigious global poker competitions in Macau, marking its debut in this vibrant city. The World Poker Tour invites legendary poker players from across the world which will enhance Macau’s global allure and reinforce its status as a World Centre of Tourism and Leisure. This exciting mega-event further demonstrates our commitment to deliver top-tier international entertainment events to Macau and is set to captivate a new wave of global visitors eager to experience the dynamism of our city.”

About Allied Gaming & Entertainment

Allied Gaming & Entertainment Inc. (Nasdaq: AGAE) is a global experiential entertainment company focused on providing a growing world of gamers with unique experiences through renowned assets, products and services. For more information, visit alliedgaming.gg.

About World Poker Tour

World Poker Tour® (WPT®) is the premier name in internationally televised gaming and entertainment with brand presence in land-based tournaments, television, online, and mobile. WPT has hosted live poker tournaments in 48 countries, drawn more than 400,000 total entries, and awarded more than $1.5 billion in prize money. Leading innovation in the sport of poker since 2002, WPT ignited the global poker boom with the creation of a unique television show, which has broadcast globally in more than 150 countries and territories, and is currently producing its 22nd season, which airs on Bally Sports in the United States. Season XXII of WPT is sponsored by ClubWPT.com. ClubWPT.com is a unique online membership site that offers inside access to the WPT, as well as a sweepstakes-based poker club available in 43 states and territories across the United States, Australia, Canada, France, and the United Kingdom. WPT also participates in strategic brand license, partnership, and sponsorship opportunities. In 2012, the WPT Foundation was launched, which has gone on to raise $45 million over 10 years and 50 events. For more information, go to WPT.com.

About Wynn Macau

Wynn Macau is a luxury hotel and casino resort in the Macau Special Administrative Region of the People's Republic of China with two iconic towers featuring a total of 1,010 spacious rooms and suites, approximately 294,000 square feet of casino space, over 64,300 square feet of retail space, 14 food and beverage outlets, two spas, a salon and a pool. The resort proudly boasts three distinct entertainment experiences, including Macau’s only choreographed Performance Lake, blending lofty plumes of water, gracefully choreographed music from Broadway tunes to renowned Chinese songs, powerful LED lights and fire effects.

Wynn Macau is operated by international resort developer Wynn Resorts, recipient of more Forbes Travel Guide Five Star Awards than any other independent hotel company in the world. Wynn Macau continues to hold the distinct honor of being the only resort in the world with 8 Forbes Five-Star Awards for seven consecutive years. Wynn Macau opened on September 6, 2006 and its second tower – Encore opened on April 21, 2010. For more information on Wynn Macau, visit press.wynnmacau.com.

About Wynn Palace

Wynn Palace is the second luxury integrated resort from international resort developer Wynn Resorts in the Macau Special Administrative Region of the People’s Republic of China, following the launch of Wynn Macau. Located in the Cotai area, it features a 28-storey hotel with 1,706 exquisitely furnished rooms, suites and villas, versatile meeting facilities, approximately 107,000 square feet of renowned luxury retail, 14 food and beverage outlets, Macau’s largest spa, a salon, a pool and approximately 468,000 square feet of casino space. The resort also features a variety of entertainment experiences, including the dazzling 8-acre Performance Lake that mesmerizes guests with a choreographed display of water, music and light, the unique SkyCab, spectacular, large-scale floral displays and an extensive collection of art works by some of the world’s leading artists.

Wynn Resorts is the recipient of more Forbes Travel Guide Five Star Awards than any other independent hotel company in the world. Wynn Palace is the first and only resort in the world with more than one thousand rooms to receive Forbes Travel Guide Five Star Awards. Wynn Palace opened on August 22, 2016. For more information on Wynn Palace, visit press.wynnpalace.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240308315440/en/

Investor Contact:

Tyler Drew

Addo Investor Relations

ir@alliedgaming.gg

Source: Allied Gaming & Entertainment, Inc.

FAQ

What is the partnership announcement involving AGAE, WPT, and Wynn Macau?

AGAE partners with World Poker Tour and Wynn Macau to bring a WPT event to Macau, with plans for future events collaboration.

When will the WPT Macau festival take place?

The WPT Macau festival is scheduled to run from June 18-24.

Who will be hosting the WPT Macau event?

AGAE will be assisting in the marketing, production, and management of the WPT Macau event.

What are the key events at the WPT Macau festival?

The festival will feature a Championship event from June 20-24 with a buy-in of HK$40,000 and a High Roller event from June 19-20 with a buy-in of HK$200,000.

What is the significance of this partnership for AGAE?

This partnership signifies AGAE's expansion in the entertainment market and collaboration with global partners to bring world-class events to Macau.