Allied Esports said today it was giving Element Partners until 5 p.m. Pacific time on Monday to top the offer with a revised agreement to stay in the running. Allied had previously agreed to Element’s revamped proposal of $90.5 million for the WPT in the acquisition struggle.
“There can be no assurance that the company will enter into a definitive agreement with Bally’s or consummate any transaction with Bally’s,” Allied Esports said.
Shares in Allied Esports dropped 10% to $2.98 apiece for a market cap of $116.4 million after the announcement about Bally’s.
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