
Allied Gaming &amp; Entertainment Inc. (NASDAQ:AGAE) (&#34;AGAE&#34; or the &#34;Company&#34;) today acknowledged its awareness of a recent public disclosure issued by Ourgame International Holdings Limited concerning legal actions and

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Allied Gaming &amp; Entertainment Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/AGAE">AGAE</a>) ("AGAE" or the "Company") today acknowledged its awareness of a recent public disclosure issued by Ourgame International Holdings Limited concerning legal actions and investigations involving Mr. Frank Ng, a former chief executive officer of AGAE (<a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.hkexnews.hk%2Flistedco%2Flistconews%2Fsehk%2F2026%2F0119%2F2026011900891.pdf&amp;esheet=54403020&amp;newsitemid=20260123924266&amp;lan=en-US&amp;anchor=https%3A%2F%2Fwww.hkexnews.hk%2Flistedco%2Flistconews%2Fsehk%2F2026%2F0119%2F2026011900891.pdf&amp;index=1&amp;md5=379fd14e73bb237327cf431829c8bcc1" shape="rect">https://www.hkexnews.hk/listedco/listconews/sehk/2026/0119/2026011900891.pdf</a>).

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AGAE takes such disclosures seriously and will continue to closely monitor the development and outcomes of any related investigations and legal proceedings as information becomes available through public and lawful channels.

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In addition, AGAE confirms that it will review and investigate, as appropriate, any matters potentially relevant to the period during which Mr. Ng served as Chief Executive Officer of AGAE, including during the construction and development phase of the Company's flagship esports arena in Las Vegas. Any review will be conducted in accordance with applicable laws, governance standards, and the advice of independent legal and professional advisers.

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AGAE remains committed to strong corporate governance, transparency, and the protection of shareholder interests. The Company will provide updates if and when further disclosure is deemed appropriate or required.

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<b xmlns="http://www.w3.org/1999/xhtml">About Allied Gaming &amp; Entertainment Inc.</b>

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Allied Gaming &amp; Entertainment Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/AGAE">AGAE</a>) is a global experiential entertainment company focused on creating world-class live experiences, content, and interactive services across gaming, esports, and entertainment. The Company owns and operates a portfolio of premier assets and brands designed to connect fans, players, and communities worldwide. For more information, please visit alliedgaming.gg.

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Allied Gaming &amp; Entertainment
<br xmlns="http://www.w3.org/1999/xhtml"></br>Investor Relations: <a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="mailto:ir@alliedgaming.gg" shape="rect">ir@alliedgaming.gg</a>

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AGAE

Allied Gaming & Entertainment Inc. Issues Statement Regarding Recent Disclosure by Ourgame International Holdings Limited

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>Allied Gaming &amp;amp; Entertainment Inc. (NASDAQ:AGAE) (&amp;#34;AGAE&amp;#34; or the &amp;#34;Company&amp;#34;) today acknowledged its awareness of a recent public disclosure issued by Ourgame International Holdings Limited concerning legal actions and</p>
  </section>

  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>Allied Gaming &amp; Entertainment Inc. is facing scrutiny due to investigations involving former CEO Frank Ng, which may affect its operations. The company is committed to transparency and governance while undertaking reviews relevant to Ng&#039;s tenure.</p>
  </section>

  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>AGAE acknowledges investigation involving former CEO Frank Ng related to Ourgame.</li><li>The company will review matters relevant to Mr. Ng&#039;s tenure as CEO.</li><li>AGAE emphasizes its commitment to corporate governance and shareholder interests.</li><li>Legal actions could impact AGAE&#039;s reputation and operations.</li></ul>
  </section>

  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>Allied Gaming &amp; Entertainment Inc. (AGAE)</strong>: Ongoing investigations may significantly affect AGAE&#039;s pricing and operations.</li><li><strong>Ourgame International Holdings Limited (2026.HK)</strong>: Involvement in legal issues may reflect adversely on AGAE.</li></ul>
  </section>

  <section data-block="category">
    <h3>Corporate Developments</h3>
    <p>This news falls under &#039;Corporate Developments&#039; due to the legal scrutiny involving AGAE’s former leadership. Such issues often lead to stock price volatility and require careful monitoring by investors.</p>
  </section>

  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>Investigations could lead to legal repercussions affecting AGAE&#039;s financials.</li><li>Changes in leadership may prompt stock volatility.</li><li>Any reputational damage could impact AGAE&#039;s market position.</li><li>Increased scrutiny may affect investor confidence.</li></ul>
  </section>

  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>Ourgame filed a disclosure on legal actions against Frank Ng on January 19, 2026.</li><li>AGAE confirmed an investigation during Ng&#039;s CEO tenure.</li><li>The companies&#039; flagship esports arena is in Las Vegas.</li><li>AGAE aims to uphold corporate governance and transparency.</li></ul>
  </section>

  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>Investors should closely monitor AGAE for potential volatility due to ongoing investigations, with a cautious short-term outlook.</p>
  </section>
</section>


<p xmlns="http://www.w3.org/1999/xhtml">
Allied Gaming &amp; Entertainment Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/AGAE">AGAE</a>) ("AGAE" or the "Company") today acknowledged its awareness of a recent public disclosure issued by Ourgame International Holdings Limited concerning legal actions and investigations involving Mr. Frank Ng, a former chief executive officer of AGAE (<a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.hkexnews.hk%2Flistedco%2Flistconews%2Fsehk%2F2026%2F0119%2F2026011900891.pdf&amp;esheet=54403020&amp;newsitemid=20260123924266&amp;lan=en-US&amp;anchor=https%3A%2F%2Fwww.hkexnews.hk%2Flistedco%2Flistconews%2Fsehk%2F2026%2F0119%2F2026011900891.pdf&amp;index=1&amp;md5=379fd14e73bb237327cf431829c8bcc1" shape="rect">https://www.hkexnews.hk/listedco/listconews/sehk/2026/0119/2026011900891.pdf</a>).

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AGAE takes such disclosures seriously and will continue to closely monitor the development and outcomes of any related investigations and legal proceedings as information becomes available through public and lawful channels.

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In addition, AGAE confirms that it will review and investigate, as appropriate, any matters potentially relevant to the period during which Mr. Ng served as Chief Executive Officer of AGAE, including during the construction and development phase of the Company's flagship esports arena in Las Vegas. Any review will be conducted in accordance with applicable laws, governance standards, and the advice of independent legal and professional advisers.

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AGAE remains committed to strong corporate governance, transparency, and the protection of shareholder interests. The Company will provide updates if and when further disclosure is deemed appropriate or required.

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">About Allied Gaming &amp; Entertainment Inc.</b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
Allied Gaming &amp; Entertainment Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/AGAE">AGAE</a>) is a global experiential entertainment company focused on creating world-class live experiences, content, and interactive services across gaming, esports, and entertainment. The Company owns and operates a portfolio of premier assets and brands designed to connect fans, players, and communities worldwide. For more information, please visit alliedgaming.gg.

</p><p xmlns="http://www.w3.org/1999/xhtml"><img xmlns="http://www.w3.org/1999/xhtml" alt="" src="https://cts.businesswire.com/ct/CT?id=bwnews&amp;sty=20260123924266r1&amp;sid=benz2&amp;distro=nx&amp;lang=en" style="width:0;height:0"></img><span xmlns="http://www.w3.org/1999/xhtml" class="bwct31415"></span></p><p xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink"><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-phrase">View source version on businesswire.com: </span><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-link"><a xmlns="http://www.w3.org/1999/xhtml" href="https://www.businesswire.com/news/home/20260123924266/en/" rel="nofollow">https://www.businesswire.com/news/home/20260123924266/en/</a></span></p><p xmlns="http://www.w3.org/1999/xhtml">
Allied Gaming &amp; Entertainment
<br xmlns="http://www.w3.org/1999/xhtml"></br>Investor Relations: <a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="mailto:ir@alliedgaming.gg" shape="rect">ir@alliedgaming.gg</a>

</p>

Allied Gaming & Entertainment Inc. is facing scrutiny due to investigations involving former CEO Frank Ng, which may affect its operations. The company is committed to transparency and governance while undertaking reviews relevant to Ng's tenure.

Allied Gaming & Entertainment Inc. Issues Statement Regarding Recent Disclosure by Ourgame International Holdings Limited

AI Summary

Sentiment Rationale

Trading Thesis

Market-Moving

Key Facts

Companies Mentioned

Corporate Developments

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