{"id":23,"date":"2024-06-11T04:24:47","date_gmt":"2024-06-11T01:24:47","guid":{"rendered":"https:\/\/slotsgardennodepositbonus.icu\/2024\/06\/11\/allied-esports-ditches-element-deal-in-favor-of-ballys-100-million-offer\/"},"modified":"2024-06-12T10:38:01","modified_gmt":"2024-06-12T07:38:01","slug":"allied-esports-ditches-element-deal-in-favor-of-ballys-100-million-offer","status":"publish","type":"post","link":"https:\/\/slotsgardennodepositbonus.icu\/2024\/06\/11\/allied-esports-ditches-element-deal-in-favor-of-ballys-100-million-offer\/","title":{"rendered":"Allied Esports Ditches Element Deal in Favor of Ballys $100 Million Offer"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/CkPilnJ1Zrg\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>Allied Esports Entertainment has chosen to terminate its purchase contract with Element Partners, favoring a more attractive proposition from Bally&#8217;s Corporation. <\/p>\n<p>The esports and card game organization, financially supported by Chinese provider Ourgame International, had initially consented in January 2021 to divest its poker-centric operations and holdings to Element. This transaction would have resulted in Element obtaining Allied&#8217;s World Poker Tour for $78.3 million (\u00a356.3 million).<\/p>\n<p>Element&#8217;s strategy involved an initial disbursement of $68.3 million, with the balance of $10 million paid over three years following the deal&#8217;s finalization. This acquisition was projected to be concluded on March 30th, contingent upon endorsement from Allied&#8217;s stakeholders.<\/p>\n<p>Nevertheless, Bally&#8217;s intervened with an unrequested bid of $100 million in March. This proposition, encompassing $90 million in immediate payment upon closure, has been deemed a &#8220;superior proposition&#8221; by Allied. Element retains the opportunity to present a counter-offer.<\/p>\n<p>In an official declaration, Allied clarified, &#8220;The organization has informed Element that unless, by 5:00 p.m. Pacific Time on March 19, 2021, both entities have commenced discussions concerning an alteration to their existing stock purchase contract such that the Bally&#8217;s proposal would no longer represent a superior proposal, the company plans to dissolve the Element stock purchase agreement.&#8221;<\/p>\n<p>However, they also included a caveat, &#8220;There is no guarantee that the company will formalize a definitive agreement with Bally&#8217;s or execute any transaction with Ballys.&#8221; <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Allied Esports Entertainment has chosen to terminate its purchase contract with Element Partners, favoring a more attractive proposition from Bally&#8217;s Corporation. The esports and card game organization, financially supported by&hellip;<\/p>\n","protected":false},"author":47,"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>Bally<\/title>\n<meta name=\"description\" content=\"Say goodbye to the deal! 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