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Element Partners Now Official Owner Of The WPT


Monday, July 5th, 2021 | Written by Renee
Element Partners LLC has now officially become the newest owner of the World Poker Tour (WPT). Allied Esports Entertainment, Inc, and Ourgame International Holdings, Ltd, approved the sale via two separate shareholder votes conducted a few days ago.
The $105 million acquisition deal should have been finalized several weeks earlier, but an internal dispute among Ourgame’s board members delayed the entire process. Allied Esports needed to wait for those issues to be resolved before it could conduct a vote on the sale, since 30 percent of the company is still owned by Ourgame.
WPT Sale Timeline and Challenges ....

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WPT Sale to Element Partners Delayed


Monday, June 28th, 2021 | Written by Renee
Element Partners, LLC is poised to become the new owner of the World Poker Tour (WPT), but internal conflicts within Ourgame International, which currently owns 30 percent of WPT’s parent firm Allied Esports, is delaying the entire acquisition process.
Element emerged victorious in a bidding war against Bally’s Corporation to acquire the WPT by upping the ante to $105 million back in March. But the private venture-capital firm will have to wait a little longer for the sale to get final approval, as Ourgame’s board of directors appear to be at odds with each other in terms of the manner by which proceeds of the sale would be distributed. ....

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World Poker Tour Sold to Private VC Investors for $78 Million


World Poker Tour Sold to Private Investors for $78 Million
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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 tournament entry fees, with 5% of each buy-in being shipped to Allied. The WPT parent is currently seeking to sell off its esports business as well, and will then rebrand under a new business name. The company will focus on online entertainment, including internet gambling. ....

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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 video released on Twitter, WPT CEO Adam Pliska said, “We think this deal will allow the World Poker Tour to do a number of things that it’s always wanted to do. For myself and my management team, we’re still here and it’s business as usual. We look forward to this exciting opportunity and the next chapter of the World Poker Tour. We look forward to continuing to bring the best ....

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