Noticias del operador
US – World Poker Tour changes hands as Element Partners shuffles its deck
By Phil - 20 de enero de 2021
Allied Esports Entertainment, a global esports entertainment company, and Element Partners, a privately-held investment vehicle, today announced a definitive agreement under which Element will acquire the Company’s poker-related business and assets, including the entities comprising the World Poker Tour.
Under the terms of the agreement, Element will acquire World Poker Tour for a total of $78,250,000, consisting of a $68,250,000 upfront payment and a fully guaranteed revenue share of five per cent of WPT-branded tournament entry fees on Element-owned or licensed gaming platforms, up to a maximum of $10 million, payable over three years after closing. The company’s Board of Directors has approved the transaction, which is expected to close in late January or early February 2021, assuming the Company’s shareholders approve the transaction and following required regulatory approvals and other customary closing conditions.
Furthermore, the rapid growth and popularity of gaming and esports during the COVID-19 pandemic has driven strategic interest in the Company’s esports business, Allied Esports, and the Company’s Board has agreed to explore strategic options for the esports business, including a possible sale. The Company has engaged Lake Street Capital Markets to assist with the process. At this time, 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.
Una vez completada la transacción WPT, y asumiendo la realización y finalización de la posible venta del negocio de deportes electrónicos, Allied Esports Entertainment procedería, bajo un nuevo nombre, como una sociedad holding que cotiza en bolsa y se centraría en utilizar sus recursos en efectivo para explorar oportunidades en línea. entretenimiento, incluidos, entre otros, juegos con dinero real y otros sectores del juego.
Frank Ng, CEO of Allied Esports Entertainment, said: “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. In addition, Allied Esports, with its world-renowned HyperX Esports Arena Las Vegas and best-in-class production services, has generated market attention as the esports industry gained momentum during the pandemic.”
El Sr. Ng continuó: “Debido al impacto de COVID-19 en la generación de ingresos general y el cronograma de rentabilidad de la Compañía, creemos que la próxima venta del negocio WPT generará un capital significativo y una vía para determinar nuevas oportunidades que brindarán retornos acelerados para nuestras partes interesadas. .”
The World Poker Tour has grown considerably since its 2002 inception. Today, its iconic television show is seen worldwide by more than 150 million people annually, WPT events are held on five continents, and the company has awarded more than $1bn in prize money. WPT initially went public in 2003 and was later purchased by PartyGaming for $12m and a related revenue share. In 2015, the Company was purchased for $35 million by Ourgame International Holdings Limited and then acquired by NASDAQ-listed Black Ridge Acquisition Corp. with a value of $50m in 2019 as part of a larger deal that led to the listing of the company as Allied Esports Entertainment.
2020 was an exceptional year for WPT’s online and interactive services pillars of its business model. With in-person events postponed or cancelled due to COVID-19, WPT’s flagship online subscription platform, ClubWPT, increased new registrations by 61% through the third quarter of 2020, exceeding registrations during the full year of 2019. Total subscription revenue for ClubWPT was also up 56% year-over-year during the same time. The shift online also fostered WPT’s largest event in its 18-year history with 2,130 entries for the WPT Online Championship on partypoker and the company’s largest series, also on partypoker, the WPT World Online Championships featuring a $100m guaranteed prize pool.
El programa de televisión WPT, que ha estado en televisión lineal desde 2003, también alcanzó nuevas alturas en distribución en 2020, alcanzando su punto máximo de audiencia global tanto en plataformas lineales como OTT el año pasado. En el tercer trimestre de 2020, la audiencia OTT en hogares aumentó un 368 % en comparación con el mismo período de 2019, mientras que la audiencia lineal en hogares en el tercer trimestre de 2020 aumentó un 77 % con respecto al período del año anterior.
Adam Pliska, the long-time CEO of the WPT, stated, “I want to thank Frank Ng and the entire AESE management team for its support in allowing WPT to flourish during this period. My management team and I are excited about this next chapter and the tremendous new opportunities for the WPT brand and business.”
