Bally's makes proposal to buy Allied Esports Entertainment, owner of WPT

5 March 2021

(PRESS RELEASE) -- Allied Esports Entertainment, Inc., a global esports entertainment company, confirmed that it received an unsolicited proposal from Bally’s Corporation to acquire all of the outstanding equity interests of the Company for a total consideration of $100 million, payable, at the Company’s option, in cash, Bally’s capital stock, or a combination of both. The Bally’s proposal would require the Company to terminate its previously announced agreement with Element Partners, LLC to sell all of the equity interests of Club Services, Inc., an indirect wholly-owned subsidiary of the Company that directly or indirectly owns the Company’s poker-related business and assets, including the entities comprising the World Poker Tour, for consideration totaling $78,250,000.

The Company’s Board of Directors, consistent with its duties and the Company’s obligations under its existing agreement with Element, will evaluate Bally’s proposal in due course. The Company and Element continue to discuss potential updates to the current terms of their agreement.

There can be no assurance that the Company will enter into a definitive agreement with Bally’s or consummate any transaction with Bally’s.

At this time, the Company’s Board of Directors continues to recommend to the Company’s stockholders the approval of the transaction with Element. The Company has filed with the SEC and mailed to its stockholders a Consent Solicitation Statement in connection with the Element transaction. If approved by the Company’s stockholders, and subject to satisfaction of other closing conditions, the transaction with Element would be expected to close on or about 30 March 2021.

Related Links
Bally's Ownership Details

Featured Vendors
DFI
Slot Machines Unlimited
DFI
The latest industry tech in slot and VLT motherboards, embedded systems, industrial panels
Slot Machines Unlimited
Exporter of IGT, Williams, AVP, Trimline, Aristocrat, Konami, Bally, & parts over 20 yrs experience
Broadband Hospitality
Casino City Press
Broadband Hospitality
Improve these critical guest-facing amenities: In-room TV, Wi-Fi, Mobile App. Priced right. All here
Casino City Press
A leading publisher and distributor of casino and gaming business data and market research reports.
TOP ONE TECH LIMITED
Rymax Marketing Services, Inc.
TOP ONE TECH LIMITED
GLOBAL TOUCH SOLUTION PARTNER OF CHOICE,10+ years OEM manufacturing,100+ thousand units application
Rymax Marketing Services, Inc.
Leader in creating award winning player & employee loyalty programs & events proven to increase ROI
Casino Network
Betson Imperial Parts & Service
Casino Network
20+ years experience selling refurbished slot machines, parts & glass for all major brands
Betson Imperial Parts & Service
Your one stop shop for all your gaming and OEM needs!
Gaming Tickets, Inc.
Bar Maid Corporation
Gaming Tickets, Inc.
35 years in the gaming industry - premium quality slot tickets, lottery tickets on time under budget
Bar Maid Corporation
Clean and dry thousands of chips, dice and tiles per hour with the high-speed CHIP CHAMPION machine!
RSA Executive Search
TribalHub
RSA Executive Search
A Boutique Search firm specializing in the Recruitment of Hospitality and Gaming Entrepreneurs
TribalHub
22nd Annual TribalNet Conference & Tradeshow Nov 8-11, 2021 Gaylord Texan Resort, Grapevine TX


Your Guide to 15,447 Gaming Industry Suppliers