Element Partners has acquired the World Poker Tour (WPT) from Allied Esports.
A giant in the realm of poker, the WPT is presently in its 18th season and airs in over 150 nations globally, including broadcasts on Fox Sports Regional Networks in the USA.
This transaction, a significant development for the poker sector, received approval from Allied Esports stakeholders during a special assembly on July 1, 2021.
The acquisition price for the agreement reached a substantial $105 million, encompassing complete possession of all legal entities connected to the company’s poker-related ventures and holdings.
Subsequent to the sale, Allied Esports indicated that it will comprise its esports division, Allied Esports, and will leverage the cash influx from the transaction.
“This marks a pivotal moment for AESE and a chance to concentrate on expansion prospects that are attractive and harmonious with our esports enterprise,” remarked Frank Ng, Chief Executive Officer of Allied Esports Entertainment.
“We extend our congratulations to Adam Pliska and the entire staff at the World Poker Tour, who will be embarking on a fresh chapter of achievements as well.”
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