Allied Esports Entertainment Inc. announced that the Company's Board of Directors has appointed Yinghua Chen as Chief Executive Officer. Ms. Chen had previously served as the Company's President, Chief Investment Officer and Board Secretary. Given Ms. Chen's additional responsibilities, Ms. Chen will no longer serve the Company as Chief Investment Officer or Board Secretary, and will continue to serve as President.

She has served as a director of the Company since 2020. Ms. Chen assumes the position of Chief Executive Officer from Lyle Berman, who has served as Co-Chairman of the Board and Interim Chief Executive Officer since February 2022. Mr. Berman retains his position as Co-Chairman of the Board, and has been appointed as Vice President, Mergers & Acquisition, where he will be more focused on the Company's M&A activities.

Mr. Berman has served as a director of the Company since May 2017.