Allied Esports Completes Sale of World Poker Tour to Element Partners

Allied Esports Entertainment has completed the sale of World Poker Tour to Element Partners. The transaction was approved at a special meeting of the Company’s stockholders on July 1.

As previously announced, the purchase price of the transaction totaled $105 million and included 100% 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. Congratulations to Adam Pliska and his entire team at World Poker Tour as they too move into a new, successful chapter,” Frank Ng, CEO of Allied Esports Entertainment, said.