NTN Buzztime Signs a Definitive Asset Purchase Agreement to Sell Entertainment and Advertising Assets

NTN Buzztime, Inc. (NYSE American: NTN) signed a definitive asset purchase agreement to sell its social entertainment, customer engagement, and advertising technology assets to eGames.com Holdings LLC (eGames.com) for $2.0 million in cash. The proposed transaction is expected to close in the fourth quarter of 2020 subject to the satisfaction or waiver of closing conditions in the purchase agreement. eGames.com is a game publishing business. Founder Aram Fuchs said, "Close to 30 years ago, I saw Buzztime for the first time. As a hedge fund analyst and gaming aficionado, I was excited by Buzztime's prospects.  Since, Buzztime has built a formidable, loyal player network with its engaging entertainment offerings, including trivia, sports, card and arcade games. I am ecstatic to join the team now and intend to leverage the talents of eGames.com's network of independent game developers to help realize Buzztime's full potential.