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World Poker Tour Sold to Private Investors for $78 Million 1 Allied Esports Entertainment announced the sale of its major poker brand, the World Poker Tour, to Element Partners, LLC, a move that seemingly came out of left field. The World Poker Tour has a new owner. (Image: worldpokertour.com) Element paid $78 million for the WPT to Allied Esports Entertainment, the esports company that owns the Luxor’s HyperX Esports Arena in Las Vegas. That arena plays host to the WPT’s televised final tables. Element will pay $68,250,000 upfront. The remaining $10 million balance will be paid via WPT ...

World Poker Tour has changed hands once again. Element Partners LLC, a private investment company, has acquired the popular brand in a deal that could potentially be worth $78 million, the WPT announced via a Tuesday morning press release. Assuming shareholders approve the transaction, Element will pay $68,250,000 for the WPT, plus an additional 5% of "WPT-branded tournament entry fees on Element-owned or licensed gaming platforms, up to a maximum of $10 million, payable over three years after closing." "We think this deal will allow the World Poker Tour to do a number of things thats it's a...

The World Poker Tour has been sold to Element Partners, LLC for a reported $78 million. Element Partners acquired the WPT from Allied Esports Entertainment in a deal that was officially announced on Tuesday. As part of the deal Element Partners will pay Allied Esports $68,250,000 upfront, and the remaining $10 million will be paid over three years from a guaranteed five percent share of entry fees from WPT tournaments. The deal was approved by Allied Esports’s board of directors, and it is expected to close in a few weeks once it receives approval from Allied Esports shareholders. In a vide...

Article content (Bloomberg) — Just five years after being recruited for an executive post at General Motors Co., Barry Engle in November 2019 ascended to president of the automaker’s $100 billion North American business, the company’s profit center. Then in August, not even a year in that post as one of the automaker’s top five executives, he quit. Engle already had been pondering a move to a place where he could be a CEO. At 56, he’s just two years younger than Mary Barra and unlikely to get a crack at the chief executive job. One defining moment, he said, was the March news that ...