Allied Esports Entertainment (NASDAQ: AESE) announced that it has received a $5 million equity investment from Brookfield Property Partners (NASDAQ: BPY). The latter will become a shareholder of the company through this investment.
Allied Esports receives $5M investment
“As esports continues a pattern of tremendous growth, infrastructure and the creation of live, in-person experiences for gamers of all levels will become paramount to the overall ecosystem and the communities that are being developed,” said Frank Ng, CEO of Allied Esports Entertainment, in a release.
“Retail locations like shopping malls are the perfect foundation for this industry innovation and we’re excited to expand our on-mall presence with a global leader like Brookfield Properties.”
The two companies will collaborate on the development of dedicated esports venues and gaming experiences as part of the partnership. This will include PCs and consoles available for daily use, broadcast and streaming production capabilities, full food and beverage options, and experiential retail.
Brookfield Properties, the global real estate operating arm of Brookfield Asset Management, will bring Allied Esports’ on-mall esports venue concept to its existing retail destinations.
The entertainment company recently announced its first on-mall location at the Mall of Georgia, which will be developed to open in the second half of 2020. The on-mall concept was created to complement its flagship location in the HyperX Esports Arena in Las Vegas.