HyperX Arena Las Vegas operator Allied Gaming & Entertainment Inc. (NASDAQ: AGAE), an experiential entertainment company specializing in esports and gaming events, acknowledged today a recent public filing by shareholder Ourgame International Holdings Limited. The filing includes a legal letter sent to Allied Gaming & Entertainment's Board of Directors, in which Ourgame expressed opposition to certain recent actions taken by the board and management, citing concerns over the impact on their interests as a shareholder. Ourgame International, which previously owned...

Publicly traded gambling platform operator EBET, Inc. underwent significant changes as several key executives and board members resigned amidst ongoing financial challenges, according to a U.S. Securities & Exchange Commission (SEC) filing published on Aug. 1. The company—which went public as Esports Technologies, Inc. in April 2021 and raised $14.4M USD in gross proceeds in the process—initially operated gambling platforms focused on esports and competitive gaming. A little over a year after its IPO, the company renamed to EBET, Inc....

Alpine Sim Racing and G2 Esports announced a partnership on Friday to combine their efforts in the world of competitive sim racing. Financial terms of the deal were not disclosed. In addition to partnering with the sim racing division of G2 Esports, the esports branch of the French sports car brand—best known for their entry in the Formula 1 championship, BWT Alpine F1 Team—transitioned its branding from Alpine Esports to Alpine Sim Racing. Alpine Esports was initially established in 2021...

Publicly traded, London-based esports organization Guild Esports (LSE: GILD; OTCQB: GULDF) has filed additional regulatory news service documents linked to its most recent £250K GBP ($319K USD) financing round from Compassare Holdings. In a May 13 filing, Guild Esports informed its shareholders that the lender exercised its right to convert the £250K convertible loan into  66,666,667 new shares. As part of that filing, the British esports organization also shared that it “does not currently have sufficient headroom” to issue those...

Illinois-based gaming and esports company Midnight Gaming announced Monday that it entered into a letter of intent outlining the acquisition of certain assets of Canada-based TGS Esports. The letter of intent is similar to the non-binding term sheet Midnight Gaming signed in January 2023 with TGS Esports to acquire all of its outstanding assets. Should the deal go through, Midnight will acquire certain IP and assets of TGS in return for common shares in the company, and would also "assume...

NASCAR announced on Friday, that six new teams will enter the 2024 eNASCAR Coca-Cola iRacing series – the highest-level oval sim racing esports competition. The digital 18-race motorsports series kicks off its 14th season in less than four weeks. Once the green flag falls for the competition on Feb. 13 at the virtual counterpart of Daytona International Speedway, 40 drivers from 20 teams will fight for a share of the $300K USD prize pool, with $100K on the line for...

Esports and gaming marketing veterans Dominic Müller and Marco Niemann have announced the launch of Bright Up Agency on Thursday. Backed by the support of I3 Holding and fueled by its founders' deep-rooted industry expertise and connections, Bright Up is dedicated to establishing robust long-term partnerships that add value to all parties, including the community. It strives to “redefine the balance between results-oriented and values-oriented approaches prevailing in sales circles.” Dominic Müller's most recent role was senior director global partnerships...

After a two-year hiatus, iRacing will reintroduce the digital edition of the Indianapolis 500. The Chelmsford, MA-based sim racing platform iRacing.com Motorsport Simulations signed a multi-year licensing agreement with IndyCar to reunite the two motorsport brands. Financial details of the deal were not disclosed. The centerpiece of this renewed partnership is the much-anticipated return of the iRacing Indianapolis 500. Known as the virtual counterpart of the legendary 200-lap race at the Indianapolis Motor Speedway, it has historically attracted thousands of...

OverActive Media Corp. (TSXV: OAM), headquartered in Toronto, has entered into a non-binding letter of intent to acquire Spanish esports entities KOI and Movistar Riders. In case of a successful closing, the all-share purchase price for KOI (Goatch S.L.) and Movistar Riders (Team Randomk Esports S.L.) will be up to $5.7M CAD ($4.27M USD) each based on Overactive Media’s closing share price of $0.19 ($0.14) on January 3, 2024. The financial framework of this deal is built around an all-share...

Stockholm, Sweden-based esports and gaming company Stryda (a subsidiary of G-Loot Global Esports AB) filed for insolvency (bankruptcy) with the Swedish Companies Registration Office on Dec. 15. The bankruptcy—at least on its face and not looking into the company’s financials since its launch—seems surprising given how much money it has raised since 2016 and according to its interim Q3 2023 financial report, which noted that it had approximately SEK 23.03M ($2.3M USD) in cash on hand at the end of...