RTTNews | Mar 5, 2021 08:30AM EST

08:30 Friday, March 5, 2021 (RTTNews.com) - Allied Esports Entertainment, Inc. (AESE) has received an unsolicited proposal from Bally's Corporation to acquire all of the outstanding equity interests of Allied Esports for a total consideration of $100 million, payable, at the company's option, in cash, Bally's capital stock, or a combination of both. Allied Esports said its Board of Directors will evaluate Bally's proposal in due course.

The Bally's proposal would require Allied Esports to terminate its previously announced agreement with Element Partners. Allied Esports said, at this time, its Board continues to recommend to the stockholders the approval of the transaction with Element.

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