November 13, 2019 eSports

Luxor Esports arena owner posts Q3 revenue jump, explores asset-light approach

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Allied Esports Entertainment, the company that owns MGM Luxor’s HyperX Esports Arena, brought in $6m of revenue in Q3, up 10% year-on-year.

The arena accounted for the bulk of in-person revenue, which grew 17% to approximately $2.6m for the quarter.

Alllied Esports CEO Frank Ng said on a conference call that the company would seek out an asset-light approach that would allow Allied Esports to operate in venues without owning them.

The company is following the trend set by MGM Resorts International, which is deploying its own asset-light strategy.

Allied Esports was formed in August as a combination between Black Ridge Acquisition Corp., Allied Esports International and WPT Enterprises.

The company has held 85 events at HyperX Esports Arena including Twitch Prime Crown Cup and EVO Official Red Bull After Party.

Allied Esports’ multiplatform content wing is carried by a televised series of the World Poker Tour (WPT) in Mexico.

The WPT is coming off its 17th season which included over 60 events around the world.

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