{"id":71,"date":"2024-06-13T04:09:13","date_gmt":"2024-06-13T01:09:13","guid":{"rendered":"https:\/\/winadaynodepositbonus.icu\/2024\/06\/13\/allied-esports-ditches-element-deal-for-100-million-ballys-buyout\/"},"modified":"2024-06-17T13:11:06","modified_gmt":"2024-06-17T10:11:06","slug":"allied-esports-ditches-element-deal-for-100-million-ballys-buyout","status":"publish","type":"post","link":"https:\/\/winadaynodepositbonus.icu\/2024\/06\/13\/allied-esports-ditches-element-deal-for-100-million-ballys-buyout\/","title":{"rendered":"Allied Esports Ditches Element Deal for $100 Million Ballys Buyout"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/g64yuww1kBM\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>Esports and gaming organization, Allied Esports Entertainment, has opted to abandon its acquisition agreement with Element Partners in favor of a more &#8220;advantageous proposition&#8221; from Bally&#8217;s Corporation.<\/p>\n<p>A subsidiary of Chinese company Ourgame International Holdings, the esports and card game company had initially consented in January 2021 to vend its poker-centric business and holdings to Element for $78.3 million (\u00a356.3 million), encompassing the World Poker Tour.<\/p>\n<p>An initial payment of $68.3 million was to be rendered, with the balance of $10 million disbursed over a three-year period subsequent to the deal&#8217;s finalization, anticipated for March 30th, contingent upon endorsement from Allied\u2019s shareholders.<\/p>\n<p>Prior to receiving an unprompted $100 million buyout bid from Bally&#8217;s in March, Allied had already acquiesced to Element&#8217;s proposition. Bally&#8217;s tender, comprising $90 million in immediate funds, is now deemed by Allied to be the &#8220;superior proposition,&#8221; though Element retains the opportunity to enhance its offer.<\/p>\n<p>&#8220;The Company has apprised Element that unless, by 5:00 p.m. Pacific Time on March 19, 2021, both entities have commenced discussions concerning modifications to their pending stock purchase agreement such that the Bally\u2019s Amended Proposal would cease to represent a Superior Proposal, the Company intends to dissolve the Element Stock Purchase Agreement,&#8221; Allied conveyed in a declaration.<\/p>\n<p>&#8220;No guarantee can be provided that the Company will formalize a definitive agreement with Bally\u2019s or effectuate any transaction with Bally\u2019s.&#8221; <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Esports and gaming organization, Allied Esports Entertainment, has opted to abandon its acquisition agreement with Element Partners in favor of a more &#8220;advantageous proposition&#8221; from Bally&#8217;s Corporation. A subsidiary of Chinese company Ourgame International Holdings, the esports and card game company had initially consented in January 2021 to vend its poker-centric business and holdings to [&hellip;]<\/p>\n","protected":false},"author":53,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Allied Esports Ditches Element Deal, Embraces Bally<\/title>\n<meta name=\"description\" content=\"Esports organization Allied Esports has backed out of its acquisition agreement with Element Partners, opting for a more\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/winadaynodepositbonus.icu\/2024\/06\/13\/allied-esports-ditches-element-deal-for-100-million-ballys-buyout\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Allied Esports Ditches Element Deal for $100 Million Ballys Buyout\" \/>\n<meta property=\"og:description\" content=\"Esports organization Allied Esports has backed out of its acquisition agreement with Element Partners, opting for a more\" \/>\n<meta property=\"og:url\" content=\"https:\/\/winadaynodepositbonus.icu\/2024\/06\/13\/allied-esports-ditches-element-deal-for-100-million-ballys-buyout\/\" \/>\n<meta property=\"og:site_name\" content=\"Stay in the Know with Our Licensed Casino News &amp; Exciting Games\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-13T01:09:13+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-17T10:11:06+00:00\" \/>\n<meta name=\"author\" content=\"Hazel &quot;Harmony&quot; Price\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Hazel &quot;Harmony&quot; Price\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/winadaynodepositbonus.icu\/2024\/06\/13\/allied-esports-ditches-element-deal-for-100-million-ballys-buyout\/\",\"url\":\"https:\/\/winadaynodepositbonus.icu\/2024\/06\/13\/allied-esports-ditches-element-deal-for-100-million-ballys-buyout\/\",\"name\":\"Allied Esports Ditches Element Deal, Embraces Bally\",\"isPartOf\":{\"@id\":\"https:\/\/winadaynodepositbonus.icu\/#website\"},\"datePublished\":\"2024-06-13T01:09:13+00:00\",\"dateModified\":\"2024-06-17T10:11:06+00:00\",\"author\":{\"@id\":\"https:\/\/winadaynodepositbonus.icu\/#\/schema\/person\/3b8b8f817c6feb105c8187573243119b\"},\"description\":\"Esports organization Allied Esports has backed out of its acquisition agreement with Element Partners, opting for a more\",\"breadcrumb\":{\"@id\":\"https:\/\/winadaynodepositbonus.icu\/2024\/06\/13\/allied-esports-ditches-element-deal-for-100-million-ballys-buyout\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/winadaynodepositbonus.icu\/2024\/06\/13\/allied-esports-ditches-element-deal-for-100-million-ballys-buyout\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/winadaynodepositbonus.icu\/2024\/06\/13\/allied-esports-ditches-element-deal-for-100-million-ballys-buyout\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Homepage\",\"item\":\"https:\/\/winadaynodepositbonus.icu\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Allied Esports Ditches Element Deal for $100 Million Ballys Buyout\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/winadaynodepositbonus.icu\/#website\",\"url\":\"https:\/\/winadaynodepositbonus.icu\/\",\"name\":\"Stay in the Know with Our Licensed Casino News &amp; Exciting Games\",\"description\":\"Stay ahead of the curve with our fresh casino news, honest game reviews, and expert articles. 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