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August 16 , 2021 ALLIED ESPORTS ENTERTAINMENT Allied Esports Entertainment Announces Second Quarter 2021 Financial Results IRVINE , Calif .-- ( BUSINESS WIRE ) -- Allied Esports Entertainment , Inc. ( NASDAQ : AESE ) ( the " Company " or " AESE ” ) , a global esports entertainment company , today announced financial results for the second quarter ended June 30 , 2021 , as well as an update on several key business initiatives . This release refers to " continuing " and " discontinued " operations due to the sale of the Company's subsidiaries owning and operating its poker related business , the World Poker Tour® ( " World Poker Tour , " or " WPTⓇ " ) . Therefore , unless otherwise noted , results presented in this release relate to the continuing operations of the Company and Allied Esports , and excludes the World Poker Tour , which is classified as discontinued operations . Commenting on the second quarter 2021 results , the Company's CEO , Libing ( Claire ) Wu , said , " Overall , I am pleased with the steady progress of our Esports business as demonstrated by the 65 % quarter over quarter growth in revenue . This growth was driven by the gradual recovery of the In - person pillar of our Esports business , as we slowly emerge from the COVID - 19 pandemic and continue to benefit from the easing of mandated restrictions on live events and social gatherings . In addition , during the second quarter we saw the early revenue contributions from our Multiplatform Content pillar . While the resumption of In - person events will be an important growth driver of our Esports revenue in the near term , we have also made good progress over the last several quarters building - out capabilities within our Multiplatform Content pillar . During the quarter , we announced the launch of AE Studios , which will serve as the original content development , storytelling and production services arm for partners of Allied Esports . " Ms. Wu concluded , " Subsequent to quarter end , we completed the sale of WPT to Element Partners in an all - cash transaction for $ 105 million . The sale of WPT is a key milestone as it significantly improves our liquidity position . With over $ 100 million of cash today , we have significant financial flexibility as we look to maximize shareholder value through the utilization of our cash and concluding our strategic exploratory process for our esports business . " Corporate Developments On July 12 , 2021 , the Company announced the completion of the sale of its subsidiaries comprising the World Poker Tour® ( " WPT Transaction " ) , to Element Partners , LLC . As previously announced , the purchase price of the transaction totaled $ 105 million . The rapid growth and popularity of gaming and esports during the COVID - 19 pandemic has driven significant interest in the Company's esports business , Allied Esports . With the WPT sale transaction complete , the Company has accelerated its previously announced plans to explore strategic options for the esports business , including a possible sale , in order to maximize shareholder value . The Company has engaged , and is actively working with , Lake