Allied Esports Entertainment Announces $5 Million Investment by Leading Real Estate Operator
IRVINE, Calif.--(BUSINESS WIRE)--Jan 14, 2020--
Allied Esports Entertainment (NASDAQ: AESE ), a global esports entertainment company, today announced that Brookfield Property Partners (NASDAQ: BPY ), one of the world’s premier real estate companies, will become a shareholder of the company through a $5 million equity investment.
Per the agreement and strategic alliance, Brookfield Properties, the global real estate operating arm of Brookfield Asset Management, will bring Allied Esports’ new on-mall esports venue concept to its existing retail destinations. The two companies will collaborate on the development of dedicated esports venues and gaming experiences that will be designed for tournament play of all levels, with PCs and consoles available for daily use, complete broadcast and streaming production capabilities, full food and beverage options, and experiential retail.
“As esports continues a pattern of tremendous growth, infrastructure and the creation of live, in-person experiences for gamers of all levels will become paramount to the overall ecosystem and the communities that are being developed,” said Frank Ng, CEO of Allied Esports Entertainment. “Retail locations like shopping malls are the perfect foundation for this industry innovation and we’re excited to expand our on-mall presence with a global leader like Brookfield Properties.”
Allied Esports’ new on-mall concept has been created to complement its flagship location, HyperX Esports Arena Las Vegas, as well as additional brick-and-mortar and mobile facilities around the world that are part of the Allied Esports Property Network. Allied Esports recently announced that its first on-mall location will be at Mall of Georgia, and the initial Brookfield Properties location is expected to follow.
Allied Esports Entertainment will file with the U.S. Securities and Exchange Commission a Current Report on Form 8-K further describing the terms of the agreement.
About Allied Esports Entertainment
Allied Esports Entertainment (NASDAQ: AESE) is a global esports entertainment venture dedicated to providing transformative live experiences, multiplatform content and interactive services to audiences worldwide through its strategic fusion of two powerful entertainment brands: Allied Esports International, Inc. (Allied Esports) and the World Poker Tour (WPT). Allied Esports Entertainment was created in August 2019 when Black Ridge Acquisition Corp. completed its business combination with Allied Esports and WPT Enterprises.
Allied Esports is an award-winning, innovative esports company comprised of a global network of dedicated esports properties and content production facilities. Its mission is to connect players, streamers and fans around the world through integrated arenas, including its flagship venue, HyperX Esports Arena Las Vegas, its fleet of mobile esports trucks, the HyperX Esports Trucks, and affiliate members of the Allied Esports Property Network, which serve as both competition battlegrounds and everyday content generation hubs.
World Poker Tour is the premier name in internationally televised gaming and entertainment with brand presence in land-based tournaments, television, online, and mobile. WPT ignited the global poker boom in 2002 with the creation of its iconic television show, now in its 18th season, based on a series of high-stakes poker tournaments. ClubWPT.com is a unique online membership platform that offers inside access to the WPT.
For more information about Allied Esports Entertainment and its subsidiaries, please visit AlliedEsportsEnt.com.
Forward Looking Statements
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KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: ELECTRONIC GAMES COMMERCIAL BUILDING & REAL ESTATE CONSTRUCTION & PROPERTY OTHER SPORTS SPORTS OTHER RETAIL ENTERTAINMENT GENERAL ENTERTAINMENT RETAIL
SOURCE: Allied Esports Entertainment, Inc.
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PUB: 01/14/2020 04:30 PM/DISC: 01/14/2020 04:30 PM