{"id":203,"date":"2024-06-18T10:19:44","date_gmt":"2024-06-18T07:19:44","guid":{"rendered":"https:\/\/luckycharmssweepstakescasinonodepositbonus.icu\/2024\/06\/18\/allied-esports-entertainment-sells-world-poker-tour-for-78-million\/"},"modified":"2024-06-20T17:06:12","modified_gmt":"2024-06-20T14:06:12","slug":"allied-esports-entertainment-sells-world-poker-tour-for-78-million","status":"publish","type":"post","link":"https:\/\/luckycharmssweepstakescasinonodepositbonus.icu\/2024\/06\/18\/allied-esports-entertainment-sells-world-poker-tour-for-78-million\/","title":{"rendered":"Allied Esports Entertainment Sells World Poker Tour for $78 Million"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/Pd8_HWvREhA\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>Allied Esports Entertainment has inked an agreement to divest its poker holdings, including its flagship asset, the World Poker Tour (WPT), for a substantial $78 million. The purchaser? Element Partners, LLC.<\/p>\n<p>Element will be making an initial payment of $68.3 million, with the balance of $10 million disbursed over the three years subsequent to the transaction&#8217;s finalization. Notably, Allied Esports has strategically incorporated a provision to receive a 5% share of all WPT-branded tournament registration fees. <\/p>\n<p>This divestiture enables Allied Esports to refine its strategic direction. They are rebranding as a publicly listed holding entity with a concentrated focus on the burgeoning online entertainment sector, particularly within the domain of real-money gaming.<\/p>\n<p>The World Poker Tour, for those less acquainted, is a titan within the poker universe.  With tournaments encompassing five continents and a broadcast viewership exceeding 150 million annually, it stands as a dominant force.  The brand boasts an impressive $1 billion in prize money distributed since its inception. While the global health crisis compelled the WPT to primarily function online in 2020, its influence and scope remain undeniable.<\/p>\n<p>Frank Ng, Chief Executive Officer of Allied Esports Entertainment, recognized the difficult circumstances while emphasizing the WPT&#8217;s adaptability and remarkable performance despite the pandemic.<\/p>\n<p>Adam Pliska, WPT&#8217;s Chief Executive Officer, conveyed appreciation for Allied Esports&#8217; backing and shared his enthusiasm for the brand&#8217;s next phase under new stewardship, suggesting significant prospects lie ahead. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Allied Esports Entertainment has inked an agreement to divest its poker holdings, including its flagship asset, the World Poker Tour (WPT), for a substantial $78 million. The purchaser? Element Partners,&hellip;<\/p>\n","protected":false},"author":46,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>World Poker Tour Sold for $78 Million! \u2660\ufe0f Who Bought It?<\/title>\n<meta name=\"description\" content=\"The World Poker Tour has a new owner! Element Partners, LLC, just dropped $78 million to acquire the WPT from Allied Esports. 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