By Chris Wack

Allied Esports Entertainment (AESE) shares rose 10% premarket Wednesday to $2.75 after the company said Brookfield Property Partners (BPY) will become a shareholder through a $5 million equity investment.

Allied Esports said Brookfield Properties, the global real estate operating arm of Brookfield Asset Management, will bring Allied Esports' new on-mall esports venue concept to its existing retail destinations.

The two companies will collaborate on the development of dedicated esports venues and gaming experiences designed for tournament play, with PCs and consoles available for daily use, broadcast and streaming production capabilities, food and beverage options, and experiential retail.

Allied Esports recently announced that its first on-mall location will be at Mall of Georgia, and the initial Brookfield Properties location is expected to follow.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

January 15, 2020 07:47 ET (12:47 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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