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PokerMergers & Acquisitions

Allied Esports completes sale of World Poker Tour to Element Partners

Allied Esports Entertainment has announced the sale of World Poker Tour to Element Partners.  

pokertour

World Poker Tour has been broadcast globally in more than 150 countries and is currently producing its 18th season, which will air on Fox Sports' regional networks in the US.  

The tour has become a premier name within the poker industry and its sale was approved at a special meeting between Allied Esports stockholders on 1 July 2021.  

As previously announced, the purchase price of the deal is $105m, which includes 100% of the outstanding capital stock of each of the legal entities that operated or engaged in the company’s poker-related business and assets. 

Following the completion of the deal, Allied Esports said it is “comprised of its esports business, Allied Esports, and cash resources from the sale.” 

Frank Ng, CEO of Allied Esports Entertainment, said: “This is a momentous day for AESE and an opportunity to focus on growing the business in exciting and innovative ways. 

“Congratulations to Adam Pliska and his entire team at World Poker Tour as they too move into a new, successful chapter.”

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