Elite Fun Entertainment Co. Ltd. agreed to acquire 19.89% stake in Allied Gaming & Entertainment Inc. (NasdaqCM:AGAE) for $6.6 million on December 28, 2023. In addition, the parties have agreed to negotiate and finalize a collaboration or partnership agreement under which Elite Fun Entertainment Co., Ltd. will assist the Company with organizing live shows and events in Asia.

Elite Fun Entertainment Co. Ltd. terminated the acquisition of 19.89% stake in Allied Gaming & Entertainment Inc. (NasdaqCM:AGAE) on June 15, 2024.