Bally’s wants to buy Allied Esports for $100M

Bally’s Corp. made an “unsolicited” $100 million offer to buy Allied Esports Entertainment, Inc., the esports company announced Friday.

Providence, Rhode Island-based Bally’s made its “friendly” proposal earlier this week to buy Allied Esports, which owns and operates World Poker Tour and HyperX Esports Arena Las Vegas at Luxor, according to public financial filings with the Securities and Exchange Commission.

A Wednesday offer letter from Bally’s, included in the filings, tells Allied Esports, “We are prepared to devote our entire resources to finalizing the transaction … over the next several days with a view to completing due diligence and publicly announcing a definitive agreement within ten business days of the Board’s acceptance of our proposal.”

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Categorized in: Esports News