Allied Esports Entertainment offloads World Poker Tour in $78m deal

US firm starts asset stripping ahead of potential relaunch with a focus on real-money gaming

Allied Esports Entertainment has confirmed the sale of its poker-related business, including the World Poker Tour (WPT), for $78.25m to investment vehicle Element Partners. Under the terms of the agreement, Element will acquire the WPT via a combination of upfront cash payments and a future revenue share earn-out. Element will pay Allied Esports $68.25m initially,…

esports | IPO | M&A | Poker | Strategy | US