Agassi Sports Entertainment Corp.

What they do

The company's historical operations were a Las Vegas golf center and All-American SportPark, which opened in October 1998 and was disposed of in May 2001, and its 51% interest in All-American Golf Center, Inc., which was sold in 2016. Management now says it plans to create and manage content and build sports communities around entertainment, media, wellness, education, commerce and charitable efforts, aiming to become a media and entertainment company in racket sports. Filings reference pickleball and padel, a planned platform and mobile application, and agreements with counterparties called the IBM Parties. No revenue-generating product or event is described as operating.

Revenue drivers

• Legacy golf operations (discontinued) — Revenue reported in the early 2010s was about $2.1M annually and fell to $560,980 in 2014; the sport park and golf-center interests were disposed of in 2001 and 2016, so this is not a current revenue source.
• Planned racket-sports event content — The company cites a planned World Series of Pickleball among its forward-looking initiatives, but filings describe venues, permits, sponsorships and participants as items still to be secured, with no event revenue reported.
• Planned platform and mobile application — Management intends to develop, launch and commercialize a platform and mobile application, and lists consumer adoption and willingness to pay as unproven risks; no associated revenue is disclosed.
• Media, sponsorship and commerce around racket sports — The stated plan contemplates co-branding, partnering and acquisitions in sports entertainment; no segment-level revenue has been reported in recent periods.

Recent performance

Annual net losses widened from $98,362 in 2021 to $574,428 in 2022, $69,875 in 2023, $793,749 in 2024 and $9.5M in 2025. Operating cash flow was negative each year, using $109,833 in 2021, $59,558 in 2022, $56,229 in 2023, $149,377 in 2024 and $2.2M in 2025. The most recent reported revenue in the data set is from 2015, at $2.0M for the year. As of June 30, 2026, the balance sheet showed total assets of $4.7M, total liabilities of $2.0M, shareholder equity of $2.6M and cash and equivalents of $74,196.

Strategy

Management describes its plan as creating and managing unique content and building sports communities around entertainment, media, wellness, education, commerce and charitable efforts, with the goal of becoming a leading media and entertainment company in racket sports. The company identifies co-branding, partnering and acquisitions as ways to develop trusted sports-entertainment brands. It references agreements with the IBM Parties, a planned platform and mobile application, and a planned World Series of Pickleball. Funding for these plans is expected to require additional capital, which the company flags as potentially dilutive. The company also uses press releases and its Instagram account as disclosure channels.

Risks

• Going concern and funding need — The company states that its need for additional capital raises substantial doubt about its ability to continue as a going concern, and that financing may not be available on favorable terms or at all.
• No revenue and unproven model — The company reports a limited operating history, no experience in the court sports industry, losses since inception and a business model it describes as unproven.
• Uncertain benefit from IBM Parties agreements — Management says the anticipated benefits of the IBM Parties arrangements are uncertain and may not be realized, while those obligations demand substantial management attention and resources.
• Planned platform and event execution — Risks include failure to develop or timely launch the planned platform and application, consumer reluctance to adopt or pay for it, and operational, permitting, sponsorship and logistics challenges for events such as the planned World Series of Pickleball.

Outlook

Management says its next 12 months center on executing the plan of operations — content creation, community building and the planned platform, application and World Series of Pickleball — and it states that required funding has not yet been secured. The company has continued to announce agreements in mid-2026, including an August 10, 2026 material agreement, and it flags reliance on additional capital as a going-concern matter. It gives no revenue guidance in the excerpts provided.