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Business
August 14, 2023
Allied Gaming & Entertainment’s Restructuring Pays Off with Strong Q2 Revenues
Q2’s impressive growth follows a significant restructuring effort Allied Gaming & Entertainment undertook last year, which aimed to realign its operations and strategic focus for improved financial performance. The company has managed to leverage its newfound financial stability to deliver sustainable financial performance and create a stable foundation for further growth in new and existing […]
Esports
December 2, 2022
Allied Gaming Plans Esports Restructuring Following Review
Allied Gaming and Entertainment, the global experimental company formerly known as Allied Esports Entertainment announced Thursday it completed a strategic review of its business. The Benchmark Company, in collaboration with Allied Gaming’s Board of Directors, monitored the review which sought to identify the best approach for further business growth. Allied Gaming Finalizes Strategic Review Although […]
Business
October 28, 2022
Jud Hannigan Wraps up Seven-Year Journey with Allied Esports
Jud Hannigan has resigned as the chief executive officer at Allied Esports. The news came via a LinkedIn announcement shared on Hannigan’s profile in which he detailed his motivation behind the decision on Thursday. He originally stepped into the position back in February 2017 and presided over the group’s growth and expansion efforts in various […]
Esports
June 27, 2022
Allied Esports Achieved Record Revenue and EBITDA in Q1 2022
Esports company Allied Esports Entertainment released today its first quarter 2022 financial results, posting its best quarterly performance of all time in both revenue and adjusted EBITDA. Business Performance Metrics For the three months ended March 31, 2022, Allied Esports Entertainment posted revenues of $2.4 million, a massive 381% increase on $501,000 in Q1 2021, […]
Esports
June 2, 2022
Allied Esports on the Slow Road to Recovery
Allied Esports Entertainment Inc. recently announced its fourth quarter and 2021 annual financial results. The esports organizer reported a net loss of $6.3million for the quarter and $15.8 million for the entire year. This marks an improvement over 2020’s results when the Irvine, California-based esports company posted net losses of $31.7million. Things Are Starting to […]
Business
February 21, 2022
Libing Wu Leaves Allied Esports, Lyle Berman Is New Interim CEO
Allied Esports Entertainment announced the resignation of its chief executive officer, Libing Wu, on Friday, February 18. Allied followed that with the appointment of Lyle Berman as the interim CEO with immediate effect. As a result, Berman relinquished his role as director. Berman Has Several Years of Working Experience at Allied Esports Berman’s appointment doesn’t […]
Esports
August 13, 2021
Allied Esports Hits 13.4m Views in 24-hour Twitch Broadcasting
Reaching more esports fans through 24-hour programming on Twitch has proven a successful stratagem for Allied Esports. Creating More Opportunities to Watch Esports Allied Esports has revealed that its 24-hour programming hosted on Twitch has managed to pull in 13.4 million live views and 7.6 million unique views. The company pushed forward with original programming back […]
Business
March 31, 2021
Fight for WPT Ownership Heats up at the Last Minute
Bally’s Corp. has been in full acquisition mode this year, having already purchased five entities before setting its sights on Allied Esports Entertainment. It first submitted an unsolicited bid to buy all of the company’s assets before handing in a new offer to purchase just the poker assets, which includes the World Poker Tour (WPT). Allied had already been […]
Business
March 5, 2021
Bally’s Proposal for Allied May Derail Element’s WPT Deal
Global eSports company Allied Esports Entertainment, Inc. announced today it received a proposal from Bally’s Corporation to acquire its outstanding equity. Bally’s is offering a price consideration of $100 million for the outstanding shares of Allied Esports, payable in cash, Bally’s shares, or a combination of both. Bally’s Looking to Hijack WPT Deal The unsolicited […]
Esports
August 11, 2020
Allied Esports Reported Second Quarter Net Loss of $10.9M
Premier esports entertainment company Allied Esports announced its second-quarter financial results, August 10, posting a net loss of $10.9 million for the three months ending June 30. The net loss figure includes a one-time non-cash conversion inducement expense of $5.2 million related to recent debt refinancing and is nearly three times higher than the $2.8 […]