Element Partners has acquired the World Poker Tour (WPT) from Allied Esports.
A prominent fixture in the poker community, the esteemed tournament enjoys broadcast distribution in over 150 countries. The WPT’s 18th season was televised on Fox Sports Regional Networks throughout the United States.
Given the green light by Allied Esports stakeholders on July 1, 2021, the transaction yielded a substantial $105 million. This acquisition provides Element Partners with full control of all legal entities associated with the WPT and its corresponding poker activities.
In the wake of the sale, Allied Esports declared its intention to expand its esports ventures utilizing the capital influx generated by the agreement.
Frank Ng, Chief Executive Officer of Allied Esports Entertainment, lauded the sale as a “historic occasion” and an exhilarating new phase for both entities. He extended his felicitations to Adam Pliska and the entire WPT staff as they commence this fresh endeavor.