World renowned poker tournament organizer WPT Enterprises is listed for sale by its current owner, Allied Esports Entertainment. The buyer is Element Partners LLC, a private investment company, which will pay $ 78.25 million.
The deal has not yet taken place, it has been approved by the board of directors, but not yet by the shareholders. This is not the first time WPT has changed ownership, and the value of the company grows each time. PartyGaming bought the business in 2009 for $ 12 million. In 2015, Ourgame International Holdings bought it for $ 35 million. And three years later WPT became part of Allied Esports Entertainment after both companies passed to a new owner, Black Ridge Acquisition, for $ 150 million.
Despite the coronavirus, WPT has made a significant contribution to the company, especially through its online platform, according to the director of Allied Esports Entertainment. The forced transfer of online poker tournaments in 2020 has brought great results. The tournaments attracted a record number of players and $ 100 million in guaranteed prize money was awarded.