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NEW YORK - Allied Gaming & Entertainment, Inc. (NASDAQ:AGAE) is set to collaborate with Beijing Modern Sky Cultural Development Co. and Macau Elite Fun Entertainment Co. to launch a new music festival in Macau. The RythmX x Strawberry Music Festival, scheduled for October 2025, will be hosted at Macau’s latest 50,000-capacity outdoor venue.
The event, spanning three days, will commence with an exclusive pre-night concert and continue with two days of performances by leading international and Asian artists. The festival is designed to rival the energy of Asia’s top music events, incorporating Macau’s distinctive cultural elements.
Yinghua Chen, CEO of Allied Gaming & Entertainment, highlighted the significance of the festival in expanding the company’s entertainment reach, stating the partnership aims to create a standout experience for Asian music enthusiasts and establish the event as an annual highlight in the region’s music calendar.
AGAE’s role will encompass coordination with western artists, project management, and marketing efforts. The company anticipates revenue through ticket sales, sponsorships, and on-site activities, including food, beverage, and merchandise sales. Further details on the festival lineup and ticketing will be released in the months ahead.
This information is based on a press release statement from Allied Gaming & Entertainment, Inc.
In other recent news, Allied Gaming & Entertainment Inc. has been granted an extension by the Nasdaq Stock Market to hold its annual shareholder meeting and regain compliance with Nasdaq’s listing rules. This extension, detailed in a recent SEC filing, allows the company until June 30, 2025, to meet the requirements. Previously, Allied Gaming had faced a notice of noncompliance due to not holding an annual meeting within twelve months of its fiscal year-end. Additionally, Allied Gaming has successfully regained compliance with Nasdaq’s minimum bid price requirement. The company had been at risk of delisting after its stock price fell below $1.00 per share for 30 consecutive business days. Following a 180-day grace period, Allied Gaming confirmed compliance with the bid price rule on February 6, 2025. This confirmation ensures that the company’s stock will continue to be listed and traded on the Nasdaq Capital Market. These developments are pivotal as Allied Gaming works to maintain its standing on the Nasdaq exchange.
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