WPT on the move The World Poker Tour has a new home. On Monday, Allied Esports Entertainment announced that it has completed the sale of the venerable poker institution to Element Partners, LLC. Allied stockholders officially approved the divestiture on July 1. Element’s total purchase price was $105 million for all of Allied’s poker-related businesses… Read more »
Look, I don’t know what the World Poker Tour is actually worth, but Allied Esports Entertainment is certainly wringing all it can out of it. On Tuesday, the company announced that it once again going with Element Partners after amending its stock purchase agreement with the equity fund. Element has now agreed to buy Allied’s… Read more »
Looks like the sale to Element is back on Something fascinating happened on Monday. I was proven wrong. I know, I know, impossible, but it happened. Last week, when Bally’s Corporation made a new offer to Allied Esports Entertainment for the World Poker Tour and Allied announced that it was considering it, I wrote that… Read more »
When you have two invitations to the prom When Element Partners agreed to acquire the World Poker Tour from Allied Esports in January, the companies said that they expected the deal to close later that month or in early February. Element is probably kicking itself right now that it didn’t happen, as Bally’s not only… Read more »
Building cash for future opportunities The World Poker Tour has its fifth home. On Tuesday, Allied Esports Entertainment announced that it has agreed to sell the WPT and its related assets to Element Partners LLC, a private investment company, for $78.25 million. The bulk of Element’s payment – $68.25 million – will be in cash,… Read more »
