Allied Esports Entertainment has completed the sale of the entities comprising the World Poker Tour, to Element Partners. The transaction was approved at a special meeting of the Company’s stockholders on July 1, 2021.
As previously announced, the purchase price of the transaction totaled $105m and included 100 per cent of the outstanding capital stock of each of the legal entities that collectively operated or engaged in the Company’s poker-related business and assets.
“This is a momentous day for AESE and an opportunity to focus on growing the business in exciting and innovative ways,” said Frank Ng, CEO of Allied Esports Entertainment. “Congratulations to Adam Pliska and his entire team at World Poker Tour as they too move into a new, successful chapter.”
Following the completion of the WPT Business transaction, the company is comprised of its esports business, Allied Esports, and cash resources from the sale.