Latest news with #AGAE


Business Wire
6 days ago
- Business
- Business Wire
Allied Gaming & Entertainment Releases Investor Presentation Underscoring Proven Strategy and Commitment to Sustained Stockholder Value
NEW YORK--(BUSINESS WIRE)--Allied Gaming & Entertainment, Inc. (NASDAQ: AGAE) (the 'Company', 'AGAE' or 'Allied'), a global experiential entertainment company, announced that it has filed an investor presentation with the Securities and Exchange Commission ("SEC") in connection with its combined 2024/2025 Annual Meeting of Stockholders to be held on August 4, 2025. Stockholders of record as of June 25, 2025, will be entitled to vote at the meeting. Key highlights of the presentation include: Through strong and focused leadership, Allied's Board and Management have driven substantial progress and built a compelling, actionable plan to sustain and accelerate long-term growth. The Company has laid out a clear-cut strategy for future growth and long-term value creation. With AGAE's rock solid balance sheet, the Company will continue to focus on unlocking stockholder value through: Organic growth by investing in our existing businesses. Strategic partnerships that are not capital intensive. Accretive acquisitions and investments in gaming, proprietary content IP, live and experiential entertainment. The Company has demonstrated significant progress advancing its strategic initiatives and consistently grown revenue in the last 4 years. Outperforming our peer set over the prior 1-year, 3-year and 5-year periods. Knighted Pastures LLC ('Knighted') has provided no plan or path forward whatsoever. Despite Allied's attempts to constructively engage with Knighted, they have been uninterested in discussing their ideas for the Company. Knighted showed no interest in voting in each of the past two annual meetings, and has turned down our offer to join the Board repeatedly, only showing interest in gaining complete control through the launch of a proxy contest and pursuing costly and time-consuming litigation. Their proxy statement also provides no clear details on how they would use your cash should they take control of the Company. The Allied Gaming Board of Directors is committed to acting in the best interests of all stockholders and unanimously recommends that stockholders vote "FOR" all six of AGAE's director nominees standing for election – Jingsheng (Jason) Lu, Guanzhou (Jerry) Qin, Mao Sun, Roy Anderson, Yushi Guo and Chi Zhao – on the WHITE proxy card today. PROTECT YOUR INVESTMENT IN ALLIED GAMING. REJECT ROY CHOI AND HIS NOMINEES BY VOTING THE WHITE PROXY CARD TODAY 'FOR' ALL SIX OF ALLIED GAMING'S NOMINEES, AND 'WITHHOLD' ON THE THREE KNIGHTED NOMINEES WE URGE YOU NOT TO SIGN OR RETURN ANY PROXY CARD OR VOTING INSTRUCTION FORM THAT MAY BE SENT TO YOU BY KNIGHTED. If you have any questions or need assistance in voting your WHITE proxy card, we encourage you to call our proxy advisers, MacKenzie Partners, Inc., Toll-Free at (800) 322-2885 or (212) 929-5500 or by email at AGAE@ We are committed to acting in your best interests, and we appreciate your continued support as we work to strengthen and evolve our business. Thank you for your investment in Allied Gaming. Sincerely, The Board of Directors of Allied Gaming & Entertainment Inc. Advisors Paul Hastings LLP is serving as legal counsel, MacKenzie Partners, Inc. is serving as proxy solicitor and ADDO IR is serving as strategic communications advisor to AGAE. About Allied Gaming & Entertainment Allied Gaming & Entertainment Inc. (Nasdaq: AGAE) is a global experiential entertainment company focused on providing a growing world of gamers and concertgoers with unique experiences through renowned assets, products and services. For more information, visit Forward Looking Statements This press release contains certain forward-looking statements under federal securities laws. Forward-looking statements may include our statements regarding our goals, beliefs, strategies, objectives, plans, including product and service developments, future financial conditions, results or projections or current expectations. In some cases, you can identify forward-looking statements by terminology such as 'may,' 'will,' 'should,' 'expect,' 'plan,' 'anticipate,' 'believe,' 'estimate,' 'predict,' 'potential,' 'intend' or 'continue,' the negative of such terms, or other comparable terminology. Specific forward-looking statements include, but are not limited to, statements regarding our ability to execute on strategic and business plans and drive stockholder value, our projections on Allied Gaming's future financial performance and expense structure and our beliefs on the impact of Knighted director nominations and other actions of Knighted on the performance of the Company. These statements are subject to known and unknown risks, uncertainties, assumptions and other factors, many of which are outside our control, that may cause actual results to be materially different from those contemplated by the forward-looking statements. The inclusion of such information should not be regarded as a representation by us, or any person, that the objectives of Allied Gaming will be achieved. Important factors, among others, that may affect actual results or outcomes include: risks associated with our strategy, future direction or governance; the substantial uncertainties inherent in the acceptance of existing and future products and services; risks associated with our ability to retain key personnel; risks related to our common stock and the listing of our common stock on the Nasdaq Capital Market; risks associated with intellectual property; uncertainty around current and potential litigation and related legal expenses; and general economic, political and market conditions and events. You should consider the areas of risk described in connection with any forward-looking statements that may be made herein and other risk factors discussed from time to time in our filings with the U.S. Securities and Exchange Commission (the 'SEC'), including those factors discussed under the caption 'Risk Factors' in our most recent annual report on Form 10-K, filed with the SEC on June 9, 2025, as well as subsequent reports filed with the SEC. Readers are also urged to carefully review and consider the various disclosures we made in such Annual Report on Form 10-K and in subsequent reports with the SEC. We assume no obligation and do not intend to update these forward-looking statements, except as required by law, to reflect events or circumstances occurring after today's date.


Washington Post
07-07-2025
- Business
- Washington Post
Allied Gaming & Entertainment: Q1 Earnings Snapshot
NEW YORK — NEW YORK — Allied Gaming & Entertainment Inc. (AGAE) on Monday reported a loss of $4.8 million in its first quarter. The New York-based company said it had a loss of 11 cents per share. The company posted revenue of $2.3 million in the period. In the final minutes of trading on Monday, the company's shares hit $1.87. A year ago, they were trading at $1.38.

Yahoo
07-07-2025
- Business
- Yahoo
Allied Gaming & Entertainment: Q1 Earnings Snapshot
NEW YORK (AP) — NEW YORK (AP) — Allied Gaming & Entertainment Inc. (AGAE) on Monday reported a loss of $4.8 million in its first quarter. The New York-based company said it had a loss of 11 cents per share. The company posted revenue of $2.3 million in the period. In the final minutes of trading on Monday, the company's shares hit $1.87. A year ago, they were trading at $1.38. _____ This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on AGAE at Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data


Business Wire
26-06-2025
- Business
- Business Wire
Allied Gaming & Entertainment Announces CEO Transition to Accelerate Strategic Growth and Innovation
NEW YORK--(BUSINESS WIRE)--Allied Gaming & Entertainment Inc. (Nasdaq: AGAE) ('AGAE', 'Allied' or the 'Company'), a global experiential entertainment company, today announced a CEO transition to further strengthen the Company's execution of its unique content and technology-driven growth strategy. Ms. Yinghua Chen, the current Chief Executive Officer of AGAE, will transition to serve the Company in a senior strategic capacity. Ms. Chen will remain as the Chief Executive Officer of the Company's wholly owned subsidiary, Allied Esports International. This will enable her to fully focus on advancing Allied's unique content strategy, including the development and integration of global animation IPs and gaming assets. The Company's Board of Directors has unanimously appointed its current President and Chairman of the Board, Mr. Yangyang (James) Li, as Chief Executive Officer of AGAE. Mr. James Li will continue to serve as President, as well as Chairman of the Board, and no changes will be made to his current compensation package. The transition is effective immediately. As the new CEO, Mr. James Li will lead the Company in further solidifying its core strengths in gaming and immersive entertainment, while actively pursuing the tokenization of real-world assets (RWA), and exploring a deeper integration of cryptocurrency and blockchain technologies within entertainment and gaming. He will also continue to pursue strategic acquisitions to build out a comprehensive industry ecosystem. This leadership transition underscores the Company's continued commitment to innovation, its deep roots in the United States, global expansion, and long-term value creation—further advancing Allied's mission to deliver greater returns for all stakeholders. 'The Board would like to sincerely thank Ms. Yinghua Chen for her outstanding leadership during a pivotal period of growth and transformation at Allied,' said Guanzhou (Jerry) Qin, an independent director of the Company. 'Under her guidance, the Company began stabilizing and growing its business over the past three years and initiating a number of transformative projects. Even amidst a series of baseless attacks and costly litigation brought by dissident shareholders, she remained resolute. Her vision has laid a solid foundation for the Company's future, and the Board looks forward to continuing our collaboration to maintain this momentum with Mr. James Li's leadership as the Chief Executive Officer.' 'I am thrilled and excited to take on this new leadership role at AGAE,' said Mr. James Li. 'At this critical juncture, as we embark on a new phase of strategic advancement, the Company is under attack by Roy Choi, an individual with a documented history of regulatory penalties and prior misconduct, including past criminal charges. Records indicate that this individual, in coordination with former executives, their relatives, and business partners, is attempting to gain control of the Company without paying a control premium to all our shareholders. This group has known ties to gambling services and financing operations for professional gamblers. Mr. Choi's relentless attack will only lead to a lose-lose outcome for the Company. We have made multiple attempts to communicate and seek a resolution but were unsuccessful. At this point, we have no choice but to confront it head-on. 'In this crucial moment, I am fully committed to lead the Company forward to the next phase of growth and expansion. Over the next three years, it is the mission of this next generation of management to overcome these crises, achieve our strategic goals, and create maximum value for all shareholders, not just a select few. In the coming months, we will release a comprehensive strategic plan, roadmap, and series of governance reforms to safeguard shareholder rights, enhance asset value, and drive business growth—positioning the Company to take part in the sweeping changes of our time. 'Lastly, I want to extend my heartfelt appreciation to our high-caliber Board of Directors. Your persistence, trust, and unwavering dedication over the past two years have carried us to this point. The future of Allied is full of promise, and I look forward to working alongside all our shareholders to make history together.' Advisors Paul Hastings LLP is serving as legal counsel, MacKenzie Partners, Inc. is serving as proxy solicitor and ADDO IR is serving as strategic communications advisor to AGAE. About Allied Gaming & Entertainment Allied Gaming & Entertainment Inc. (Nasdaq: AGAE) is a global experiential entertainment company focused on providing a growing world of gamers and concertgoers with unique experiences through renowned assets, products and services. For more information, visit Forward Looking Statements This communication contains certain forward-looking statements under federal securities laws, including statements regarding the future growth and prospect of AGAE and leadership transition In some cases, you can identify forward-looking statements by terminology such as 'may,' 'will,' 'should,' 'expect,' 'plan,' 'anticipate,' 'believe,' 'estimate,' 'predict,' 'potential,' 'intend' or 'continue,' the negative of such terms, or other comparable terminology. These statements are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause actual results to be materially different from those contemplated by the forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside our control, that could cause actual results or outcomes to differ materially from those discussed in these forward-looking statements. The inclusion of such information should not be regarded as a representation by the Company, or any person, that the objectives of the Company will be achieved. IMPORTANT ADDITIONAL INFORMATION REGARDING the 2024/2025 Annual Meeting of Stockholders and Where to Find It The Company has filed a proxy statement and WHITE proxy card with the U.S. Securities and Exchange Commission (the 'SEC') in connection with its solicitation of proxies for its 2024/2025 Annual Meeting. THE COMPANY'S STOCKHOLDERS ARE STRONGLY ENCOURAGED TO READ THE DEFINITIVE PROXY STATEMENT (AND ANY AMENDMENTS AND SUPPLEMENTS THERETO) AND ACCOMPANYING WHITE PROXY CARD WHEN THEY BECOME AVAILABLE AS THEY WILL CONTAIN IMPORTANT INFORMATION. Stockholders may obtain the proxy statement, any amendments or supplements to the proxy statement and other documents as and when filed by the Company with the SEC without charge from the SEC's website at Certain Information Regarding Participants The Company, the President and Chairman, Yangyang Li and each of its non-employee Directors (namely, Mao Sun, Jingsheng (Jason) Lu, Guanzhou (Jerry) Qin, Yushi Guo, Yuanfei (Cliff) Qu and Chi Zhao) are deemed to be 'participants' (as defined in Section 14(a) of the Exchange Act) in the solicitation of proxies from the Company's stockholders in connection with the matters to be considered at the Annual Meeting. Information about the compensation of our President and Chairman, Yangyang Li and each of its non-employee Directors is set forth in the section titled 'Executive and Director Compensation' in the Company's preliminary proxy statement on Schedule 14A filed on June 24, 2025 (the 'Preliminary Proxy'), at pages 34 to 37, and is available here. Information regarding the participants' holdings of the Company's securities can be found in the section titled 'Ownership of Certain Beneficial Owners, Management and Directors' in the Company's Preliminary Proxy on pages 42 to 43 and is available here. When filed, supplemental information regarding the participants' holdings of the Company's securities can be found in SEC filings on Statements of Change in Ownership on Form 4 available on the Company's website at or through the SEC's website via the links referenced above. Updated information regarding the identity of potential participants, and their direct or indirect interests, by security holdings or otherwise, will be set forth in the Company's proxy statement on Schedule 14A and other materials to be filed with the SEC in connection with the 2024/2025 Annual Meeting of Stockholders.


Business Wire
25-06-2025
- Business
- Business Wire
Allied Gaming & Entertainment Reports Nasdaq Communication Related to Procedural Delays
NEW YORK--(BUSINESS WIRE)--Allied Gaming & Entertainment, Inc. (NASDAQ: AGAE) (the 'Company' or 'AGAE'), a global experiential entertainment company, today announced that on June 18, 2025, it received a notice from the staff of The Nasdaq Stock Market ('Staff') indicating that, based on the Company's non-compliance with Listing Rule 5620(a), which requires holding an annual meeting of shareholders within twelve months of the end of the Company's fiscal year end, the Staff determined to initiate procedures to delist the Company's securities unless the Company requests an appeal to a Nasdaq Hearings Panel (the 'Panel') by June 25, 2025. Additionally, the Staff notified the Company of its non-compliance with Listing Rule 5250(c)(1) for failing to timely file its Form 10-Q for the period ended March 31, 2025 serves as a separate and additional basis for delisting. On June 25, 2025, the Company submitted a hearing request and extended stay request, which will stay any delisting of the Company's common stock pending the decision of the Panel or any extension the Panel may provide. Importantly, the Company wishes to inform shareholders that these administrative delays were not the result of business performance or internal deficiencies, but were the unfortunate collateral consequence of actions taken by activist shareholder Knighted Pastures LLC ('Knighted'), led by Mr. Roy Choi. Over the past 18 months, Knighted has launched two lawsuits against the Company, both of which demanded expedited judicial proceedings. These lawsuits required significant allocation of management's time and legal resources, disrupted corporate operations, and materially delayed the Company's ability to finalize disclosures and organize its annual meeting on the originally scheduled timeline in 2024. The Company believes these lawsuits were designed to damage other shareholders' confidence in the Company and its board of directors, and obstruct the execution of its long-term strategy, for the purpose of pursuing Mr. Choi's personal interest. Despite these disruptions, Allied remains committed to transparency, compliance, and protecting shareholder value. The Company has made meaningful operational progress in 2024 and 2025, including launching new entertainment initiatives and achieving revenue growth, and is confident in its strategic trajectory. AGAE's combined 2024/2025 annual meeting of stockholders is now scheduled to take place on August 4, 2025. AGAE will take all appropriate steps to remain listed on Nasdaq and will continue to act in the best interests of its shareholders. Advisors Paul Hastings LLP is serving as legal counsel, MacKenzie Partners, Inc. is serving as proxy solicitor and ADDO IR is serving as strategic communications advisor to AGAE. About Allied Gaming & Entertainment Allied Gaming & Entertainment Inc. (Nasdaq: AGAE) is a global experiential entertainment company focused on providing a growing world of gamers and concertgoers with unique experiences through renowned assets, products and services. For more information, visit Forward Looking Statements This communication contains certain forward-looking statements under federal securities laws. In some cases, you can identify forward-looking statements by terminology such as 'may,' 'will,' 'should,' 'expect,' 'plan,' 'anticipate,' 'believe,' 'estimate,' 'predict,' 'potential,' 'intend' or 'continue,' the negative of such terms, or other comparable terminology. These statements are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause actual results to be materially different from those contemplated by the forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside our control, that could cause actual results or outcomes to differ materially from those discussed in these forward-looking statements. The inclusion of such information should not be regarded as a representation by the Company, or any person, that the objectives of the Company will be achieved. IMPORTANT ADDITIONAL INFORMATION REGARDING the 2024/2025 Annual Meeting of Stockholders and Where to Find It The Company has filed a proxy statement and WHITE proxy card with the U.S. Securities and Exchange Commission (the 'SEC') in connection with its solicitation of proxies for its 2024/2025 Annual Meeting. THE COMPANY'S STOCKHOLDERS ARE STRONGLY ENCOURAGED TO READ THE DEFINITIVE PROXY STATEMENT (AND ANY AMENDMENTS AND SUPPLEMENTS THERETO) AND ACCOMPANYING WHITE PROXY CARD WHEN THEY BECOME AVAILABLE AS THEY WILL CONTAIN IMPORTANT INFORMATION. Stockholders may obtain the proxy statement, any amendments or supplements to the proxy statement and other documents as and when filed by the Company with the SEC without charge from the SEC's website at Certain Information Regarding Participants The Company, the President and Chairman, Yangyang Li and each of its non-employee Directors (namely, Mao Sun, Jingsheng (Jason) Lu, Guanzhou (Jerry) Qin, Yushi Guo, Yuanfei (Cliff) Qu and Chi Zhao) are deemed to be 'participants' (as defined in Section 14(a) of the Exchange Act) in the solicitation of proxies from the Company's stockholders in connection with the matters to be considered at the Annual Meeting. Information about the compensation of our President and Chairman, Yangyang Li and each of its non-employee Directors is set forth in the section titled 'Executive and Director Compensation' in the Company's preliminary proxy statement on Schedule 14A filed on June 24, 2025 (the 'Preliminary Proxy'), at pages 34 to 37, and is available here. Information regarding the participants' holdings of the Company's securities can be found in the section titled 'Ownership of Certain Beneficial Owners, Management and Directors' in the Company's Preliminary Proxy on pages 42 to 43 and is available here. When filed, supplemental information regarding the participants' holdings of the Company's securities can be found in SEC filings on Statements of Change in Ownership on Form 4 available on the Company's website at or through the SEC's website via the links referenced above. Updated information regarding the identity of potential participants, and their direct or indirect interests, by security holdings or otherwise, will be set forth in the Company's proxy statement on Schedule 14A and other materials to be filed with the SEC in connection with the 2024/2025 Annual Meeting of Stockholders.