Submitted by Folake Dosu on Thu, 08/15/2019 - 03:30

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Black Ridge Acquisition Corp., a shell company, has acquired Allied Esports International and WPT Enterprises to create Allied Esports Entertainment, an esports venue and live event creator. Allied Esports Entertainment went public as part of this “special acquisition,” VentureBeat reports.  

Known for its World Poker Tour events and developing Esports Arena at the Luxor Hotel with MGM Resorts International in Las Vegas, Allied Esports Entertainment now trades on Nasdaq under the ticker symbol AESE after Black Ridge shareholders approved the transaction on August 9. 

“Today marks the beginning of a new category in gaming – esports entertainment – that brings together the best of this burgeoning industry, including fans, streamers, professionals, entertainers, and brands, to create experiences and content around the world across all communities.”

“Today marks the beginning of a new category in gaming – esports entertainment – that brings together the best of this burgeoning industry, including fans, streamers, professionals, entertainers, and brands, to create experiences and content around the world across all communities,” said Frank Ng, CEO of Allied Esports Entertainment, in a statement. “This growing ecosystem, anchored by our three-pillar strategy, will allow us to serve the industry as a whole as we move forward into an exciting and promising future.”

American commercial real estate company Simon Property Group and major Mexican sports television network TV Azteca have made equity investments earlier into Allied Esports Entertainment and have laid plans for strategic partnerships. VentureBeat reports that Simon and Allied Esports are eyeing collaborations on integrated gaming venues at select Simon destinations throughout the U.S. while TV Azteca and Allied Esports will continue to expand esports in Mexico and across Latin America through a number of initiatives. 

“We are thrilled with the closing of the transaction and look forward to seeing Allied Esports Entertainment execute on the tremendous opportunities in the esports market. We are excited for AESE’s future as a public company and will be committed to creating value for all stakeholders involved,” said Ken DeCubellis, Black Ridge’s former Chairman and CEO, who will be CFO of the combined company, in a statement.

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