According to the latest news, the poker brand the World Poker Tour doesn’t belong to Allied Esports Entertainment after a recent deal.
The company, focused on the esports sector, decided to sell the WPT to Element Partners, LLC.
Details of the deal
As it has been revealed, the esports giant will get 78 million dollars for its poker brand. However, the sum is divided into two parts: Allied Esports will receive $68 250 first, and the other part will be paid out through the competition entry payments. The company will get five percent of every fee. Allied Esports has great plans for its further development. It is going to change the niche and switch to the iGaming vertical. To do this, it has the intention to sell its esports business as well.
As for the WPT, its future events will face a problem: a place for holding them. New owners should consider more opportunities for competitions. Previous events have been cancelled because of the pandemic, so now there is a question whether they will return in 2021 and, if yes, what their venues will be.
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