AESE - Allied Esports Entertainment surges after earnings topper intends to sell Esports business

Allied Esports Entertainment (NASDAQ:AESE) jumps 6.33% following a beat on the top and bottom lines. Total revenues more than doubled from the prior quarter and increased 182% Y/Y. This growth was driven by a sharp recovery of the In-person pillar of our Esports business with the U.S. economy almost fully re-opened, coupled with a steady climb in Las Vegas foot traffic and the return of live entertainment events. However, game publishers, who were Allied Esports' largest customers prior to the pandemic, have not yet resumed in-person events. The company has entered into a non-binding Letter of Intent with a third party to sell its Esports business after previously announcing it was exploring a sale. Allied Esports continues to identify potential merger partners or acquisition targets. See which other stocks are gaining or losing and why with Seeking Alpha's "On the Move" page.

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Allied Esports Entertainment surges after earnings topper, intends to sell Esports business