Latest news with #RoyChoi
Associated Press
4 days ago
- Business
- Associated Press
CORRECTION -- ISS Recommends Allied Gaming Stockholders Vote Knighted's Blue Proxy Card
Concludes that Knighted Presented a 'Focused Critique' that Supports a Case for Change Recommends Allied Gaming's Shareholders Vote to Elect Knighted's Class B Nominee – Roy Choi – at Upcoming Annual Meeting on Knighted'sBLUEProxy Card Raises Concerns about the Independence of the Incumbent Board Highlights Issues with Allied Gaming's Operational Performance, Corporate Governance and 'Unfocused Strategy' LOS ANGELES, July 27, 2025 (GLOBE NEWSWIRE) -- Corrects an earlier release that contained an error––Knighted Pastures, LLC and its Manager Roy Choi, together with their affiliates, the owners of approximately 31.5% of the outstanding shares of Allied Gaming & Entertainment Inc. (NASDAQ: AGAE) ('Allied Gaming' or the 'Company'), today announced that a leading independent proxy advisory firm, Institutional Shareholder Services Inc. ('ISS'), has recommended that stockholders vote FOR the election of a Knighted Class B director candidate to the Company's Board of Directors (the 'Board'), on its BLUE proxy card, at the upcoming combined 2024 and 2025 Annual Meeting of Stockholders. Roy Choi, Manager of Knighted, said: 'We are very pleased that ISS agrees with our view that there is a need for change at Allied Gaming. As ISS highlighted, under the current Board, the Company has financially and operationally underperformed over nearly every measurement period, has failed to implement any clear strategy, and has a concerning corporate governance framework. ISS also further validated Knighted's concerns about the independence of the Board and the lack of transparency around the Company's strategy, transactions, and related financial disclosures. Our vision for Allied Gaming is clear: restore accountability in the boardroom and expeditiously enact a coherent strategic vision that serves the long-term interests of all stockholders. We firmly believe that Allied Gaming has untapped potential and that with the right strategy in place, the Company's resources could be effectively utilized to generate sustainable growth. We look forward to contributing to Allied Gaming's bright future and urge our fellow Allied Gaming stockholders to vote FOR all six of the Knighted nominees on the BLUE proxy card.' In its full report, ISS affirmed the case for boardroom change at Allied Gaming and agreed with Knighted's concerns regarding the Company's performance and governance:1 KNIGHTED URGES ALL STOCKHOLDERS TO VOTE THE BLUE PROXY CARD TODAY! About Knighted Pastures, LLC Knighted Pastures, LLC focuses on investing in promising companies to support their success. Contact Information: Sodali & Co. Michael Verrechia / Bill Dooley (212) 300-2470 [email protected] 1 Permission to quote ISS was neither sought nor obtained. Emphases added.
Associated Press
5 days ago
- Business
- Associated Press
Allied Gaming & Entertainment Urges Stockholders to Take Caution Against Misleading and Factually Incorrect Statements Issued by Knighted Pastures Regarding ISS Report
NEW YORK--(BUSINESS WIRE)--Jul 26, 2025-- Allied Gaming & Entertainment, Inc. (NASDAQ: AGAE) (the 'Company', 'AGAE' or 'Allied'), a global experiential entertainment company, announced today that a leading independent proxy advisory firm, Institutional Shareholder Services Inc. ('ISS'), has recommended withhold votes on five of the six director candidates that Knighted Pastures, LLC ('Knighted' or the 'dissident') has proposed at AGAE's upcoming combined 2024/2025 Annual Meeting on August 4, 2025. The Company also urges stockholders to take caution against relying on statements made by Knighted in its press release on the ISS recommendation. Of particular note, Knighted's claim that ISS recommended stockholders to vote for the election of Knighted's Class B director candidates to the Company's Board of Directors is factually incorrect. In fact, ISS recommended that stockholders vote for just one of Knighted's candidates, Roy Choi. Allied has previously offered Roy Choi a Board seat in an attempt to settle the proxy contest and related litigation but Mr. Choi has refused this offer. In addition, ISS recommended stockholders vote against Knighted's proposal to remove Mr. Yangyang Li, AGAE's Chairman of the Board, CEO and President, from the Company's Board of Directors. ISS also recommended stockholders support AGAE's candidate Roy Anderson. Additional findings from the ISS report that AGAE stockholders should consider include: (1) The Allied Gaming Board of Directors has been and remains 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 WHITEPROXY 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 [email protected] 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. View source version on CONTACT: Investor Contact: Addo Investor Relations [email protected] Bob Marese MacKenzie Partners, Inc. 1-800-322-2885 KEYWORD: UNITED STATES NORTH AMERICA NEW YORK INDUSTRY KEYWORD: PROFESSIONAL SERVICES ENTERTAINMENT BUSINESS OTHER ENTERTAINMENT GENERAL ENTERTAINMENT EVENTS/CONCERTS ELECTRONIC GAMES SOURCE: Allied Gaming & Entertainment, Inc. Copyright Business Wire 2025. PUB: 07/26/2025 11:50 AM/DISC: 07/26/2025 11:50 AM
Business Wire
5 days ago
- Business
- Business Wire
Allied Gaming & Entertainment Urges Stockholders to Take Caution Against Misleading and Factually Incorrect Statements Issued by Knighted Pastures Regarding ISS Report
NEW YORK--(BUSINESS WIRE)--Allied Gaming & Entertainment, Inc. (NASDAQ: AGAE) (the 'Company', 'AGAE' or 'Allied'), a global experiential entertainment company, announced today that a leading independent proxy advisory firm, Institutional Shareholder Services Inc. ('ISS'), has recommended withhold votes on five of the six director candidates that Knighted Pastures, LLC ('Knighted' or the 'dissident') has proposed at AGAE's upcoming combined 2024/2025 Annual Meeting on August 4, 2025. The Company also urges stockholders to take caution against relying on statements made by Knighted in its press release on the ISS recommendation. Of particular note, Knighted's claim that ISS recommended stockholders to vote for the election of Knighted's Class B director candidates to the Company's Board of Directors is factually incorrect. In fact, ISS recommended that stockholders vote for just one of Knighted's candidates, Roy Choi. Allied has previously offered Roy Choi a Board seat in an attempt to settle the proxy contest and related litigation but Mr. Choi has refused this offer. In addition, ISS recommended stockholders vote against Knighted's proposal to remove Mr. Yangyang Li, AGAE's Chairman of the Board, CEO and President, from the Company's Board of Directors. ISS also recommended stockholders support AGAE's candidate Roy Anderson. Additional findings from the ISS report that AGAE stockholders should consider include: (1) 'The dissident has presented a case for only limited change. ' '[S]upport for class B dissident nominee Choi is warranted. Shareholders should withhold votes from all other dissident nominees...' 'Over all periods of measurement through the unaffected date, AGAE's TSR outperformed the median of its peers …' 'TSR over the one-year period is positive …' '[T]he company's cash balances remain healthy …' The Allied Gaming Board of Directors has been and remains 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@ Remember, you may be able to vote your shares by telephone, internet, and QR code voting may be available. Please refer to your proxy card/voting instruction form for details. If you have any questions or need assistance in voting your shares, please contact our proxy solicitor: MacKenzie Partners, Inc. 7 Penn Plaza, #503 New York, New York 10001 (212) 929-5500 (Call Collect) or Call Toll-Free (800) 322-2885 Email: AGAE@ Expand 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.
Business Insider
27-06-2025
- Entertainment
- Business Insider
I've been to Las Vegas over 50 times. Here are the 8 best places to eat on The Strip.
I've been to Las Vegas over 50 times, and I usually go there for the food. The Chef Truck is a great place to grab a quick bite, and Lago has great views. Giada's is one of my favorite places to eat in Vegas, and I love splurging at Ocean Prime. Some people go to Vegas to gamble; I go to eat. After visiting Las Vegas over 50 times, my husband and I have a dining strategy: We return to a few of our favorite spots and then try a couple of new ones. Here are some of my favorite restaurants on The Strip. The Chef Truck is the perfect spot for delicious Cuban food at reasonable prices As a fan of the movie "The Chef," I knew I had to try The Chef Truck, a bright-yellow food truck parked inside the Park MGM. The truck serves Cuban-inspired food and is a collaboration between celebrity chef Roy Choi and actor/director Jon Favreau that opened in late 2023. I suggest starting with a warm sandwich, like the Cubano, and ending with the chocolate lava cake. The prices are reasonable — every dish is under $20 — and there's a small seating area nearby, making this the perfect lunch stop between gambling or shopping on The Strip. I'm a sucker for a restaurant with a view of the Bellagio Fountains —especially at night — so I often head to one of the restaurants in the Bellagio Hotel & Casino for a romantic dinner. Lago by Julian Serrano serves upscale Italian fare, my favorite cuisine. During our last visit there, we shared the delicious seafood linguine and prime rib with peppercorn sauce. Both were accompanied by a bottle of Chianti recommended by our server. Try to snag a table on the outdoor patio for the best possible views. You have a better chance of getting a spot if you reserve a table in advance. You can't go wrong with lunch or dinner at Giada's We first discovered GIADA shortly after it opened in 2014 in the Cromwell. We had reservations for lunch and liked it so much we returned that evening for dinner. Now, it's one of our regular dining spots. I always request a window table so we can enjoy the view of The Strip while dining. The Giada De Laurentiis -created restaurant serves upscale Italian food. If we're here for dinner, we share the bone-in ribeye topped with a sunny-side-up egg and pair it with one of the pastas. Ocean Prime is a splurge-worthy restaurant perfect for celebrating special occasions In 2023, Ocean Prime opened on the corner of Las Vegas Boulevard and Harmon Avenue — it even has a rooftop terrace overlooking The Strip. The upscale restaurant chain is known for steak and seafood, and we dined here for our 32nd anniversary. We began with oysters and bubbly, moved on to scallops and martinis, and ended with warm butter cake. Everything was delicious, and Ocean Prime had excellent service. It's a splurge — most appetizers are $25 or more — but worth it for a special occasion. Catch is Instagram-worthy with seriously good brunch entrées and creative cocktails Catch is filled with beautiful decor and photo opportunities that make it obvious it was designed to be a place where visitors can take the perfect Instagram photo. At first, that made me doubt the quality of the food — but I've learned the food is even better than the decor. On a recent trip to Catch, I got the best French toast I've ever eaten. The French toast offerings vary by season, but the one I tried was filled with a delicious Meyer-lemon cream. We topped off our meal with a couple of cocktails with fun names like Lush Lemonade and Detox Retox. Bardot Brasserie offers a French-inspired brunch menu reminiscent of a Parisian café Another great brunch option on The Strip is Bardot Brasserie, located inside the Aria Resort & Casino. The decor is all dark wood and marble, which reminds me of cafés in Paris. On a recent visit, we started with deviled eggs topped with caviar and steak tartare — both were excellent. For entrées, I enjoyed the French omelet, and my husband got eggs Benedict with smoked salmon. Although both items were delicious, I was especially obsessed with Bardot Brasserie's version of hash browns. The small, crispy squares of layered potatoes were perfectly seasoned, putting any other hash browns to shame. The best New York slice in Las Vegas can be found at Secret Pizza I'm not even sure the official name of this place is Secret Pizza because there's no signage at the entrance, and it doesn't appear on the website of the Cosmopolitan Resort & Casino where it's located. What I do know is that this is great New York-style pizza, and we never go to Vegas without stopping here for lunch. To find this place, head to the third level of the Boulevard Tower of the Cosmopolitan and look for a long hallway next to Jaleo. The line can get long, so come with patience. You can order a slice or a whole pie. There's limited seating insid,e so we usually take our pizza and beer to the communal seating areas nearby. Mon Ami Gabi has long been my go-to spot for lunch with a view We've been eating at Mon Ami Gabi for over 20 years, mostly for lunch. Located inside Paris Las Vegas, the French eatery has a patio directly across the street from the Bellagio Fountains. We love to sit and watch the fountain show while we eat. Showtimes vary, so I usually check them and make our dining reservations accordingly. The food is French bistro fare featuring entrées like steak au poivre and trout almondine. We always start with a baguette and a starter, such as the chicken-liver-mousse páté, and complete our meal with glasses of wine or classic cocktails. This story was originally published on May 6, 2024, and most recently updated on June 27, 2025.
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.
