WPT sold for $78 million
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...
Source: onlinepoker.net