If you want to follow the Casino 2023 news, we recommend that you start with this new hot new. Have seen talked about the World Poker Tour (WPT)?
It will be sold, pending regulatory approval for $ 105 million. Allied Esports is the seller and the buyer is Element Partners, LLC, a Wayne-based private-capital company in Pennsylvania.
A high-stakeholder war auction for WPT quickly stepped up in the last month between Element and the new Bally's Corporation company. After Allied initially planned to discharge the element poker activity for $ 78 million in January, Bally did an unsolicited offer of $ 100 million for WPT, as well as Element Esport Assets.
An offer to $ 105 million for the only WPT
A back and forth was ensuited, Bally's earlier this month amending its offer at $ 105 million for the only WPT. Allied said in his call to investors this week that element corresponded to the offer. After examining the two proposals, Element was considered winner.
On March 24, 2023, Allied Esports announced that Bally had offered $ 100 million. A short after, $ 105 million for the World Poker Tour, "said Frank Ng, CEO of Allied Esports Entertainment. "On March 30, Allied Esports announced that element had offered $ 105 million for the World Poker Tour, which Allied Esports accepted. Allied Espports Entertainment was trained in August 2019 when Black Ridge Acquisition Group combined Allied Espports and WPT in one entity and made public combined unity. The actions of the company were flat yesterday at the announcement of the sale of the WPT. However, they were up 2.78% today to close at $ 2.96 per share.
Services financiers WPT
The results of Allied Esports in the fourth quarter 2023 revealed that the World Poker Tour had completed the year. WPT generated a turnover of $ 5.9 million in the last three months, a € 30.7% gain compared to the fourth quarter of 2019. Net profit was approximately $ 900,000, against a loss of $ 100,000 the previous year.
"While restrictions on the organization of events since the beginning of the pandemic have been stricter in the United States than in some parts of the world during the fourth quarter, WPT was able to organize live and online events In other countries, "said Tony Hung, Chief Financial Officer of Allied Esports. Explain.
In just 18 days, the WPT organized 154 poker events with more than 60,000 entries and a total prize pool of more than $ 2 million.
Allied getting rid of the WPT returns the company to a group exclusively dedicated to electronic sports. The main asset of the company is its Hyperx Esports Arena at Luxor Hotel & Casino in Las Vegas. The site at several levels of 30000 square feet is the first arena dedicated to electronic sports on the strip.
Allied returned live competitions to the arena at the end of June. The Hyperx Night Speedway Saturday with Mario Kart 8 is also back. The listing of players starts at only $ 10 and the qualifying races start at 18:45. A $ 700 jackpotte is to win. The ability of tournaments remained limited to 35% in the fourth quarter. However, this limit has been increased to 50% as of March 15th.