Allied Gaming and Entertainment Inc (AGAE)

[CashCowMoo]

Simon Property Group Invests in Allied Esports

hortly after June’s announcement that TV Azteca planned to invest $5M into Black Ridge Acquisition Corporation to become a shareholder of Allied Esports, Simon Property Group announced similar plans in July with its own $5M investment in the company.

Allied Esports will work with the investor to establish dedicated esports venues and experiences at select Simon locations. Simon operates shopping malls and other retail establishments around the world. Additionally, the companies will collaborate on a Simon Cup competition tour that will be held via Allied Esports’ HyperX Esports Truck, with a grand final at the HyperX Esports Arena in Las Vegas.

Last December, Black Ridge entered a definitive agreement to acquire both Allied Esports and sister company WPT Enterprises (owner of the World Poker Tour) from Ourgame International. The deal is still going through the required approvals processes from investors, shareholders, and regulatory agencies. Once completed, the companies will be known collectively as Allied Esports Entertainment and trade on the Nasdaq.

Roundhill: Allied Esports gets another stamp of approval from a significant investor, this time in the form of a $50B public REIT, Simon Property. We continue to expect that Black Ridge will complete its transition and begin trading as Allied Esports in the future, although timing uncertainty remains.


https://esportsobserver.com/july-esports-investments-recap/