Le Lézard
Classified in: Sports and recreation
Subject: Divestiture

Allied Esports Entertainment Completes Sale of World Poker Tour® to Element Partners, LLC


Allied Esports Entertainment, Inc. (NASDAQ: AESE) (the "Company"), a global esports entertainment company, today announced the completion of the sale of the entities comprising the World Poker Tour®, to Element Partners, LLC. 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 $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," 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.

About Allied Esports Entertainment

Allied Esports Entertainment (NASDAQ: AESE) is a global esports entertainment venture dedicated to providing transformative live experiences, multiplatform content and interactive services to audiences worldwide. For more information, visit alliedesports.gg.

About World Poker Tour

World Poker Tour (WPT) is the premier name in internationally televised gaming and entertainment with brand presence in land-based tournaments, television, online, and mobile. Leading innovation in the sport of poker since 2002, WPT ignited the global poker boom with the creation of a unique television show based on a series of high-stakes poker tournaments. WPT has broadcast globally in more than 150 countries and territories, and is currently producing its 18th season, which airs on FOX Sports Regional Networks in the United States. Season XVIII of WPT is sponsored by ClubWPT.com. ClubWPT.com is a unique online membership site that offers inside access to the WPT, as well as a sweepstakes-based poker club available in 43 states and territories across the United States, Australia, Canada, France and the United Kingdom. WPT also participates in strategic brand license, partnership, and sponsorship opportunities. For more information, go to WPT.com.

Forward-Looking Statements

This communication contains "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Forward-looking statements may relate to future results, strategy and plans of Allied Esports Entertainment, Inc. and the World Poker Tour (collectively, the "Companies") (including certain projections and business trends, and statements, which may be identified by the use of the words "plans", "expects" or "does not expect", "estimated", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", "projects", "will" or "will be taken", "occur" or "be achieved"). Forward-looking statements are based on the opinions and estimates of management of the Companies as of the date such statements are made, and they are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, each Company's respective revenues and operating performance, general economic conditions, industry trends, legislation or regulatory requirements affecting the business in which it is engaged, management of growth, its business strategy and plans, the result of future financing efforts and its dependence on key personnel, and the ability to retain key personnel. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. These forward-looking statements are made only as of the date hereof, and no Company undertakes any obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.


These press releases may also interest you

at 04:00
Sportradar and Oddin.gg, an award-winning B2B betting-solutions provider for esports, today announced they have entered into a multi-year strategic partnership to offer audiovisual streaming of Oddin's exclusive esports content to Sportradar's...

at 02:00
Realeague, the creator of the recent high-profile global sports business summit in Macao and the proposed new East Asia club basketball competition, announces the addition of Greg Stolt to its leadership team as Senior Vice President of Basketball...

27 mar 2024
For many people, the city of Ningbo may not sound as well-known as metropolis such as Beijing and Shanghai in China, but it may be closer to the daily life: the Chinese-made hardware tools, rice cookers and even new energy vehicles people bought are...

27 mar 2024
Emerald Acres Sports Connection and the Sports Facilities Companies proudly announce the appointment of Tyler Yoder as its General Manager. His extensive experience in athletics and event management will play a pivotal role in positioning Mattoon,...

27 mar 2024
Hiboy has announced the launch of its first folding Electric bike - the Hiboy C1. This folding electric bike enhances the rider's riding style and performance for a fantastic urban riding experience while ensuring complete safety and security....

27 mar 2024
Alta Global Group Limited ("Alta" or the "Company") , a technology company that is enabling the global martial arts and combat sports industry to maximize the monetization opportunities available to the sector by increasing...



News published on and distributed by: