Bally’s is offering $100 million to buy Allied Esports Entertainment.
The bid was revealed by Allied, which said in a statement only that its board of directors would “evaluate” the offer “in due course.”
“There can be no assurance that the company will enter into a definitive agreement with Bally’s or consummate any transaction with Bally’s,” the statement said.
Rhode Island-based Bally’s, a sizable player in the regional casino space, has been aggressive of late in diversifying the portfolio with digital betting products, acquiring sportsbook technology platform Bet.Works last fall, then in January striking a deal for daily fantasy business Monkey Knife Fight, and last month acquiring free-to-play games provider SportCaller.
Allied, a force in the burgeoning esports market, has a deal in the works to sell the World Poker Tour to private equity firm Element Partners for $78.3 million.
The sale is slated to go before Allied’s shareholders for a vote on March 31. It would, however, be scrapped if the board decides to accept the Bally’s offer.
According to news reports, the board continues to favor the Elements deal.
