Allied Esports Selling World Poker Tour

Allied Esports Entertainment Inc. (NASDAQ: AESE) in Irvine said it is selling the World Poker Tour to Element Partners LLC, a privately held investment vehicle.

The purchase price is $78.3 million, made up of $68.3 million in an upfront payment and a fully guaranteed revenue future revenue share over the three years after the closing, which is expected this month or next.

Allied Esports Entertainment also said in statement today that a sale of the esports business is being considered, although “no potential or particular buyer has been identified and there are no initial or ongoing negotiations in respect of the sale of the esports business.”

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Categorized in: Esports News