The World Poker Tour has been offered by Allied Esports Entertainment (NASDAQ: AESE) for $78,250,000. The deal, introduced on Tuesday, Jan. 19, will end in all of Allied Esports Entertainment’s poker-related enterprise and property being acquired by Element Partners, LLC. The privately-held funding automobile agreed to pay $68,250,000 up entrance, with the remaining $10 million payable over the next three years through a totally assured five-percent share of entry charges from WPT-branded tournaments.
Allied Esports Entertainment’s Board of Directors permitted the transaction, which can shut within the following weeks so long as the shareholders of the corporate approve the transaction.
“I want to thank Frank Ng and the entire AESE management team for their support in allowing WPT to flourish during this period,” said WPT CEO Adam Pliska. “My management team and I are excited about this next chapter and the tremendous new opportunities for the WPT brand and business.”
Ng, the CEO of Allied Esports Entertainment, added that, “Despite the numerous challenges brought on by the COVID-19 pandemic, the WPT enterprise has delivered substantial, impactful outcomes, particularly by its on-line platforms and companies, and has made significant contributions for the [Allied Esports Entertainment].”
The WPT was first based in 2002, and has since gone on to pay out greater than $1 billion in prize cash throughout its excursions. The WPT was offered to PartyGaming in 2009 for $12.3 million. Two years later, PartyGaming merged with bwin to develop into bwin.Party Digital Entertainment. Ourgame International Holdings Ltd. purchased the WPT in 2015 for $35 million.
The WPT merged with Allied Esports Entertainment at the beginning of 2019 after the 2 firms had been bought by WPT co-founder Lyle Berman’s Black Ridge Acquisition Corporation in a $150 million deal.
This newest deal doubtless received’t have any affect on the slate of occasions that WPT is presently internet hosting throughout the reside and on-line realms. Check out CardPlayer’s match listings for a take a look at all of the upcoming occasions from the WPT and different main excursions.
