Alliance Entertainment Holding Corporation (Nasdaq: AENT)
(“Alliance Entertainment”, “Company”), a global distributor and
wholesaler specializing in music, movies, video games, electronics,
arcades, and collectibles, announced today an exclusive
distribution agreement executed with Arcade1Up for retail and
website fulfillment of the complete line of arcade and gaming
products in North America.
Arcade1Up licenses and
manufactures home arcade consoles with over 95% market share and
over 90% of key licenses in the retro gaming space. These include
some of the most well-recognized arcade games like PAC-MAN, Ms.
PAC-MAN, Mortal Kombat, NBA Jam, Golden Tee, Big Buck and more.
Arcade1Up has also launched the Infinity Gaming line, which
includes the Infinity Game Table (IGT) and the Infinity Game Board
(IGB). This unique platform brings home fun for the entire family
via digital versions of classic and iconic board games, including
Hasbro’s Monopoly, Scrabble, Trivial Pursuit, Chutes and Ladders,
Candy Land, Yahtzee and more. The Infinity Gaming line also
includes puzzles, card games, coloring books, educational and many
more licensed games.
Alliance has been a
significant distributor for Arcade1Up since 2021. During Alliance’s
fiscal year ending June 30, 2024, Arcade1Up product sales exceeded
$74 million.
“We are excited to
become the exclusive distributor for Arcade1Up and to further grow
sales and customer reach. With our FY2024 sales of Arcade1Up
products over $74 million this is a significant line of business
for Alliance, which we are committed to growing substantially,”
said Jeff Walker, CEO of Alliance. “We are focused on expanding our
distribution of Arcade1Up products to retailers and ecommerce
consumers. These are products that bring smiles and joy to
consumers of all ages. PAC-MAN, for example, is one of the most
globally recognized brands and will continue to drive demand for
years to come.”
Over the last three
years, Alliance has developed robust in-store and online sales for
Arcade1Up products. Major retailers including Best Buy, Walmart,
Amazon, Target, Kohl’s, Wayfair, BJ’s Wholesale Club, Nebraska
Furniture Mart, Dell, QVC, HSN, Home Depot, PC Richard and many
more have had success with Arcade1Up products. Alliance has
expanded the reach of Arcade1Up products through its consumer
direct fulfillment division to many of these major retailers. A
robust assortment of Arcade1Up products is stocked in the Alliance
warehouse and shipped directly to our retail partners’ consumers.
This represents significant sales for these retailers with zero
inventory risk.
“The entire Arcade1up
team is thrilled to solidify our Alliance partnership. Alliance is
reliable and the staff is truly an extension of ours. We rely on
the Alliance team to develop retail relationships and assist us
with new opportunities. Alliance has the ability to service our
entire fan base throughout North America and they are positioned to
help up grow and most importantly Alliance is flexible during our
busy times, ensuring we are in stock for our customers,” said Dora
Dvir, CEO of Tastemakers. “We have overcome a lot of challenges
recently and as we improved our supply chain we were able to rely
on Alliance to be part of the solution. We have finally found a
partner that allows us to focus and do what we love: make video
games!”
About
Arcade1UP
It's time to play
again! Home entertainment titan Tastemakers and creators of
Arcade1Up, a line of award-winning, innovative ¾ scale home arcade
and pinball machines featuring licensed retro games from the golden
age of arcades. Arcade1Up's classic titles include NBA
JAM™, Golden Tee 3D, Terminator 2, Tron™, Street
Fighter™, X-Men, Mortal Kombat, PAC-MAN, Star Wars™, Marvel Super
Heroes™, Teenage Mutant Ninja Turtles™, Killer Instinct™, Dragon's
Lair, Ridge Racer™, Golden Axe™, Simpsons™, Big Buck Hunter®, and
others. Arcade1Up's digital board game, The Infinity Game Table™
and the portable, Infinity Game Board™. Arcade1Up allows people to
play in the comfort of their homes, with an authentic retro arcade
experience, and Wi-Fi for online play, at an accessible price.
Check
out Arcade1Up.com, Facebook, Instagram, Twitter, TikTok,
and YouTube.
About Alliance Entertainment
Alliance Entertainment (NASDAQ: AENT) is a premier distributor
of music, movies, toys, collectibles, and consumer electronics. We
offer over 325,000 unique in-stock SKU’s, including over 57,300
exclusive compact discs, vinyl LP records, DVDs, Blu-rays, and
video games. Complementing our vast media catalog, we also stock a
full array of related accessories, toys, and collectibles. With
more than thirty-five years of distribution
experience, Alliance Entertainment serves customers of
every size, providing a robust suite of services to resellers and
retailers worldwide. Our efficient processing and essential seller
tools noticeably reduce the costs associated with administrating
multiple vendor relationships, while helping omni-channel retailers
expand their product selection and fulfillment goals. For more
information, visit www.aent.com.
Forward Looking Statements
Certain statements
included in this Press Release that are not historical facts are
forward-looking statements for purposes of the safe harbor
provisions under the United States Private Securities Litigation
Reform Act of 1995. Forward-looking statements generally are
accompanied by words such as “believe,” “may,” “will,” “estimate,”
“continue,” “anticipate,” “intend,” “expect,” “should,” “would,”
“plan,” “predict,” “potential,” “seem,” “seek,” “future,”
“outlook,” and similar expressions that predict or indicate future
events or trends or that are not statements of historical matters.
These forward-looking statements include, but are not limited to,
statements regarding estimates and forecasts of other financial and
performance metrics and projections of market opportunity. These
statements are based on various assumptions, whether identified in
this Press Release, and on the current expectations of Alliance’s
management and are not predictions of actual performance. These
forward-looking statements are provided for illustrative purposes
only and are not intended to serve as and must not be relied on by
an investor as, a guarantee, an assurance, a prediction, or a
definitive statement of fact or probability. Actual events and
circumstances are difficult or impossible to predict and will
differ from assumptions. Many actual events and circumstances are
beyond the control of Alliance. These forward-looking statements
are subject to a number of risks and uncertainties, including risks
relating to the anticipated growth rates and market opportunities;
changes in applicable laws or regulations; the ability of Alliance
to execute its business model, including market acceptance of its
systems and related services; Alliance’s reliance on a
concentration of suppliers for its products and services; increases
in Alliance’s costs, disruption of supply, or shortage of products
and materials; Alliance’s dependence on a concentration of
customers, and failure to add new customers or expand sales to
Alliance’s existing customers; increased Alliance inventory and
risk of obsolescence; Alliance’s significant amount of
indebtedness; our ability to refinance our existing indebtedness;
our ability to continue as a going concern absent access to sources
of liquidity; risks and failure by Alliance to meet the covenant
requirements of its revolving credit facility, including a fixed
charge coverage ratio; risks that a breach of the revolving credit
facility, including Alliance’s recent breach of the covenant
requirements, could result in the lender declaring a default and
that the full outstanding amount under the revolving credit
facility could be immediately due in full, which would have severe
adverse consequences for the Company; known or future litigation
and regulatory enforcement risks, including the diversion of time
and attention and the additional costs and demands on Alliance’s
resources; Alliance’s business being adversely affected by
increased inflation, higher interest rates and other adverse
economic, business, and/or competitive factors; geopolitical risk
and changes in applicable laws or regulations; risk that the
COVID-19 pandemic, and local, state, and federal responses to
addressing the pandemic may have an adverse effect on our business
operations, as well as our financial condition and results of
operations; substantial regulations, which are evolving, and
unfavorable changes or failure by Alliance to comply with these
regulations; product liability claims, which could harm Alliance’s
financial condition and liquidity if Alliance is not able to
successfully defend or insure against such claims; availability of
additional capital to support business growth; and the inability of
Alliance to develop and maintain effective internal controls.
For investor
inquiries, please
contact:MZ GroupChris Tyson / Larry
Holub(949) 491-8235AENT@mzgroup.us
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