Element Partners has acquired the World Poker Tour (WPT) from Allied Esports. A prominent name in the poker realm, the WPT has aired in over 150 nations and is a mainstay for poker enthusiasts, presently shooting its 18th season, which will be televised in the U.S. on Fox Sports regional channels.
This divestiture, ratified at an extraordinary gathering of Allied Esports shareholders on July 1, 2021, signifies a pivotal juncture as the tour progresses under fresh proprietorship.
The acquisition cost for the deal was $105 million, as formerly revealed, and encompasses a complete stake in each legal body that manages or engages in the Company’s poker-centric operations and holdings.
Allied Esports indicated after the transaction concluded that it “will comprise its esports enterprise, Allied Esports, and the monetary gains from the sale.”
“This represents a landmark day for AESE and a chance to concentrate on expansion in its business through exhilarating and innovative means,” remarked Frank Ng, Chief Executive Officer of Allied Esports Entertainment.
“Kudos to Adam Pliska and the entire staff at the World Poker Tour, who will embark on a fresh chapter of prosperity as well.”
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