Element Partners has purchased the World Poker Tour (WPT) from Allied Esports. The tournament, a genuine powerhouse in the poker realm, is presently recording its 18th season. Viewers can tune in on Fox Sports regional channels throughout the United States, contributing to its remarkable coverage spanning over 150 nations and regions.
The transaction, approved at an extraordinary gathering of Allied Esports investors on July 1, 2021, witnessed the WPT acquired for a substantial $105 million. This considerable figure encompasses complete possession of all the legal bodies that oversee the WPT and administer its poker-associated holdings.
With the agreement concluded, Allied Esports is undergoing a simplification process. They are fully committing to their primary esports enterprise while also receiving a significant cash infusion from the sale.
Frank Ng, Chief Executive Officer of Allied Esports Entertainment, concisely stated: “This marks a pivotal moment for AESE, presenting us with promising prospects to concentrate on expansion. We are enthusiastic for Adam Pliska and the entire World Poker Tour staff as they commence this fresh chapter.”
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