Shares of global esports entertainment company Allied Esports Entertainment Inc. (AESE) traded higher by 3.17% at $2.28 after hours on Monday. Allied Esports closed the regular session at $2.21, losing -2.64%. Trading volume for AESE stock remained at 1.07 million shares, higher than the average daily volume of 0.73 million shares over the past 50 days.

Within the past week, AESE’s shares have fallen by -12.65% and decreased by -3.49 % over the past 12 months. AESE stock has lost -15.00% in the past three months, and 42.58% in the past six months. According to the latest information from AESE, the company’s market value is currently $83.83 million, while its outstanding shares are 38.52 million.

The AESE stock rose in after-hours trades as the company completed the sale of some of its assets.

What asset did AESE sell?

The mission of Allied Esports is to deliver quality live experiences, interactive content, and multiplatform services to audiences worldwide through its esports entertainment venture.

Yesterday, Allied Esports announced that its World Poker Tour assets have been sold to Element Partners, LLC.

• AESE’s stockholders approved the transaction at a special meeting on July 1, 2021.
• AESE announced previously that the purchase price of the transaction was $105 million, and that it included 100% of the outstanding capital stock of each of the legal entities that were engaged in and operated poker-related businesses and assets on behalf of AESE.
• This transaction will enable AESE to focus on growing the business in an innovative and exciting way.
• World Poker Tour’s acquisition of AESE’s assets also opens up growth opportunities for it as it enters a new phase.
• AESE now comprises its esports business, Allied Esports, and cash proceeds following the selling of WPT Business.

AE Studio-AESE’s New Division:

A subsidiary of Allied Esports recently launched a new division named AE Studios. As part of the newly formed division, AESE will offer turnkey solutions outside of esports tournament operations and broadcasts for partners seeking original content, storytelling, editing, and production services. AESE has created AE Studios as a new content creation and production company for its esports entertainment needs outside of esports events and broadcasts.

What does the new division mean for AESE’s growth?

At AE Studios, Allied Esports (AESE) will rely on its rich history of digital content creation, current production team, and world-class facility to leverage its years of experience in digital content creation. AESE’s new initiative includes the HyperX Esports Arena Las Vegas and its production studio in Hamburg, Germany. Through AE Studios, AESE will develop innovative digital products and services for clients and partners from a variety of industries, including gaming, entertainment, pop culture, and music.