• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Thursday 28 August 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
No Result
View All Result

Chinese-owned Allied Esports Entertainment sells World Poker Tour for US$78 million

Ben Blaschke by Ben Blaschke
Wed 20 Jan 2021 at 05:36
World Poker Tour to partner with Delta Corp’s Adda52 for first ever WPT Online India series
33
SHARES
831
VIEWS
Print Friendly, PDF & Email

Allied Esports Entertainment, Inc has signed a definitive agreement to sell off its entire poker-related business and assets, including the entities comprising major international poker brand the World Poker Tour (WPT), to growth equity firm Element Partners, LLC.

Allied Esports is a Nasdaq-listed eSports and poker venture formed in 2019 and jointly owned by Chinese online games operator Ourgame International Holdings and Minnesota-based oil and gas company Black Ridge Acquisition Group.

Under the terms of the deal, Element will acquire the WPT for a total of US$78.25 million, comprising a US$68.25 million upfront payment plus a fully guaranteed revenue share of 5% of WPT-branded tournament entry fees on Element-owned or licensed gaming platforms, up to a maximum of US$10 million and payable over three years after closing.

The transaction is expected to close in late January or early February.

“Despite the many challenges caused by the COVID-19 pandemic, the WPT business has delivered substantial, impactful results, specifically through its online platforms and services, and has made meaningful contributions for the company,” said Allied Esports CEO Frank Ng.

“Due to COVID-19’s impact on the company’s overall revenue generation and profitability timeline, we believe the forthcoming sale of the WPT business will garner significant capital and an avenue to determine new opportunities that will deliver accelerated returns for our stakeholders.”

Allied said it is also exploring opportunities to sell its eSports business and has engaged Lake Street Capital Markets to assist with the process, although no potential buyer has yet been identified.

Should such a sale take place, “Allied Esports Entertainment would proceed, under a new name, as a publicly traded holding company focused on using its cash resources to explore opportunities in online entertainment, including but not limited to, real money gaming and other gaming sectors,” it said.

The WPT has long been one of the world’s leading poker brands. It is credited with helping spark the global poker boom of the early 2000s via its late night tournament broadcasts featuring insightful commentary from Mike Sexton and Vince Van Patten.

RelatedPosts

Aristocrat’s acquisition of ETG supplier Interblock said to have stalled over price

Aristocrat Gaming launches new “positive play” website

Thu 28 Aug 2025 at 05:30
Mario Ho, son of Macau’s Stanley Ho, becomes co-owner and board member of NBA team Boston Celtics

Mario Ho, son of Macau’s Stanley Ho, becomes co-owner and board member of NBA team Boston Celtics

Wed 20 Aug 2025 at 15:23
Genting’s KT Lim moving to take New York’s Resorts World Catskills private

Maybank IB: Genting Malaysia earnings to climb 24% in FY26 on “positive” sale of New York resort’s non-gaming assets

Tue 19 Aug 2025 at 05:26
Genting Malaysia to form part of new merged entity taking full ownership of New York’s Empire Resorts

Genting Malaysia to eliminate Empire Resorts debt via sale and lease back agreement for non-gaming assets of New York’s Resorts World Catskills  

Mon 18 Aug 2025 at 05:14
Load More
Tags: Allied eSportsChinaeSportsFrank NgNorth AmericaWorld Poker TourWPT
Share13Share2
Ben Blaschke

Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

Current Issue

Editorial – Better late than never

Editorial – Better late than never

by Ben Blaschke
Thu 31 Jul 2025 at 07:13

Inside Asian Gaming has in recent weeks been hearing increasing chatter around a possible move by Vietnamese authorities to introduce...

Angel’s Yasushi Shigeta

Angel’s Yasushi Shigeta

by Ben Blaschke
Thu 31 Jul 2025 at 07:08

Yasushi Shigeta, Chairman and owner of one of the world’s largest gaming industry suppliers, Angel Group, sits down with Inside...

The Magic Number

The Magic Number

by David Bonnet
Thu 31 Jul 2025 at 06:41

In this in-depth deep dive into the evolution of the Asian gaming landscape, David Bonnet argues that many regional jurisdictions...

Rashid Suliman – A road well traveled

Rashid Suliman – A road well traveled

by Ben Blaschke
Thu 31 Jul 2025 at 02:45

Rashid Suliman, Vice President of Global Gaming Asia-Pacific for casino solutions provider TransAct Technologies, provides some insight into his unique...

Evolution Asia
Your browser does not support HTML5 video.
Aristocrat
GLI
Nustar
SABA
Mindslot
Solaire
Hann
Tecnet
HKUST
NWR

Related Posts

Crown Resorts found suitable to retain Melbourne casino license but China investigation ongoing

Crown Melbourne given two-year extension to deadline for implementation of mandatory carded play across table games

by Ben Blaschke
Thu 28 Aug 2025 at 06:47

Crown Melbourne will have an additional two years to expand its mandatory carded play technology to all table games after the Victorian government agreed an extension until December 2027. According to a report by The Sydney Morning Herald, legislation was...

Solutions Showcase: LT Game – Game Time

Macau’s Paradise Ent sees revenue rise 19% in 1H25 but notes need for regional expansion as impact of satellite casino closure nears

by Ben Blaschke
Thu 28 Aug 2025 at 06:06

Macau’s Paradise Entertainment has outlined its efforts to expand both its gaming equipment supply business and casino management experience across Asia after admitting it will suffer a material decline in revenue and profit once its contract to provide management services...

Analysts puzzled as combined market cap of Macau concessionaires falls back to 2022 COVID levels

Hong Kong Stock Exchange confirms delisting of LET Group and Summit Ascent scheduled for 1 September

by Newsdesk
Thu 28 Aug 2025 at 05:32

Following the recent announcement by Hong Kong’s LET Group Holdings and its subsidiary Summit Ascent Holdings that they were scheduled to be delisted at the end of this month, the Hong Kong Stock Exchange has confirmed that the listing of...

Aristocrat’s acquisition of ETG supplier Interblock said to have stalled over price

Aristocrat Gaming launches new “positive play” website

by Newsdesk
Thu 28 Aug 2025 at 05:30

Aristocrat Gaming has launched a new responsible gaming website designed to educate and enable players on smarter, more informed play. Part of the company’s “Know Your Max” campaign launched in 2023, the new website, KnowYourMax.com, provides a suite of positive...

Your browser does not support the video tag.


IAG

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • English