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Wednesday, June 29, 2022

What’s going on with the Allied Esports Entertainment Inc (AESE) stock price

The AESE stock price is rising significantly and it is increased by 18.40% in after-hours trading as of this writing. In the normal trading session on March 3, 2021, it was also up by 3.73% and closed at $2.50 per share. The company has been trading on increased volume for the last three months.

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About the company

The company Allied esports is one of the top companies in Esports with a global presence and with dedicated esports properties around the world. The company aim is to connect Esports enthusiasts via integrated arenas and mobile esports trucks which have both facilities such as gaming battleground and content generation hubs.

The company holds 11 properties in the top three esports markets. North America’s HyperX Esports Arena Las Vegas; HyperX Esports Truck “Big Meta”; Esports Arena Orange County and Esports Arena Oakland; Europe’s HyperX Esports Truck “Big Betty” and HyperX Studio in Hamburg, Germany.

The recent news and developments:

On January 19 2021, AESE sold a world poker tour (WPT) to Element. The element will acquire World Poker Tour for a total of $78,250,000, consisting of a $68,250,000 upfront payment and a fully guaranteed revenue share of 5% of WPT-branded tournament entry fees on Element-owned or licensed gaming platforms, up to a maximum of $10 million, payable over three years after closing. The company shares jumped significantly after the announcement and increased by 17% in value.

During the pandemic, more and more people are getting involved with video games and esports to kill the time during the lockdowns. Like other gaming companies, AESE is experiencing an uprise in its share price. Other gaming companies and related business are also doing well during the pandemic.

The recent uprise inits share price has no reason despite we can assume that more and more people are getting interested in esports and now more people are looking to do esports business. The company stock is also considered as volatile because of sudden uprise and decline in the price.

The company management:

Frank Ng is a director and CEO of Allied Esports Entertainment. Before joining AESE, he served as the CEO of Ourgame International. He also worked as a CFO of Ourgame beginning in 2004. He has 20 plus years of working experience in the gaming industry.

Adam Pliska is a director and President of Allied Esports Entertainment and the President and CEO of the World Poker Tour. He is looking after the entire portfolio of WPT(world poker tour). He is one of the longest-serving executives in the poker industry. He won many awards for his work and was named the American Poker Awards Industry Person of the Year for 2014.

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