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Allied Esports Entertainment Announces $5 Million Investment by Leading Real Estate Operator
Agreement to Allow Allied Esports to Further Expand New On-Mall Esports Venues IRVINE, Calif.--(BUSINESS WIRE)-- Allied Esports Entertainment (NASDAQ: AESE),
About this update from Allied Gaming & Entertainment Inc.
[{"type":"text","content":"\nAgreement to Allow Allied Esports to Further Expand New On-Mall Esports Venues\n\n IRVINE, Calif.--(BUSINESS WIRE)--\nAllied 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.\n\n\nPer 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.\n\n\n“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.”\n\n\nAllied 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.\n\n\nAllied 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.\n\n\nAbout Allied Esports Entertainment\n\n\nAllied 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...