June 28, 2019 / 1:36 PM / 19 days ago

Mall operator Simon to invest $5 million in Allied Esports

FILE PHOTO: Shoppers ascend and descend escalators at the King of Prussia Mall, owned by Simon Property Group, United State's largest retail shopping space, in King of Prussia, Pennsylvania, U.S., December 8, 2018. REUTERS/Mark Makela

(Reuters) - Simon Property Group Inc (SPG.N), the largest mall operator in the United States, will invest $5 million in Allied Esports, the companies said in a statement.

Simon Properties’ unit Simon Equity Development LLC will make the equity investment through Black Ridge Acquisition Corp (BRAC.O) - a company formed to takeover Allied and its sister company, World Poker Tour.

The investment announcement comes days after Mexican broadcaster TV Azteca agreed to form an alliance with Allied Esports and Black Ridge Acquisition Corp to create a digital channel broadcasting electronic sports.

Reporting by Vibhuti Sharma in Bengaluru and Hilary Russ in New York; Editing by James Emmanuel

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