Element Partners has acquired the legendary World Poker Tour (WPT) from Allied Esports, the company that established the globally recognized tournament.
A genuine powerhouse in the poker realm, the WPT has captivated audiences in over 150 nations and is presently filming its 18th season, slated to broadcast on Fox Sports Regional Networks in the United States.
Approved by Allied Esports stakeholders during a special assembly on July 1, 2021, this transaction underscores the WPT’s lasting heritage as a trailblazer in the poker sector.
The previously disclosed agreement carried a substantial valuation of $105 million and encompassed complete possession of all legal entities engaged in operating or participating in the company’s poker-centric endeavors and holdings.
Subsequent to the sale, Allied Esports indicated that the company will comprise “its esports division, Allied Esports, and the net earnings from the transaction.”
“This marks a pivotal juncture for AESE and a chance to expand our operations in captivating and groundbreaking ways,” remarked Frank Ng, Chief Executive Officer of Allied Esports Entertainment.
“We extend our congratulations to Adam Pliska and the entire World Poker Tour team on this exhilarating new phase.”
