Allied Esports Entertainment, a subsidiary of online games operator Ourgame International Holdings, completed the sale of the World Poker Tour to Element Partners, LLC for $105 million.
“This is a momentous day for AESE and an opportunity to focus on growing the business in exciting and innovative ways,” said Frank Ng, CEO of Allied Esports Entertainment. “Congratulations to Adam Pliska and his entire team at World Poker Tour as they too move into a new, successful chapter.”
Element emerged successful after a bidding war with Bally’s Corp. Bally’s tendered an offer of $100 million, far higher than the original $78 million from Element in March. Both firms then upped their bids in the same ballpark. But the original agreement stated Element would be the purchaser unless another bid exceeded theirs, according to Inside Asian Gaming.
Adam Pliska, president of Allied Esports and CEO of the World Poker Tour, will remain head of the WPT while still serving as a director of Allied.
In other transactions, Bruin Capital will purchase Oddschecker from gaming giant Flutter for $218 million, $190 million of it paid up front.
Oddschecker Global Media offers odds comparisons, tips, promotions, and data for gamblers. Bruin hopes to extend its roles—including partnerships with teams and leagues—to help finance U.S. growth.
Oddschecker “is a dynamic company with tremendous potential,” Bruin head George Pyne said in a statement. “The team has deep, fact-based intelligence and experience with the mindset and needs of bettors at every level. They’ve turned that into a very diversified, service-oriented business that uplifts its partners and its own interests.”
Affiliate sites such as Oddschecker earn money through advertising and bettor referrals, both important as sports betting expands in the U.S. and competition grows. New Jersey, for instance, has more than 15 sportsbooks competing for the same customer, according to Sportico.
“There are strong links between Oddschecker’s U.K. development and its opportunity in the U.S., where the marketplace is very fragmented, and discovery and customer acquisition experts will be highly sought after,” Pyne said.
Oddschecker, founded in 1999, has more than 120 clients in the U.S. and Europe. It processes almost 8,000-line changes per second and 260 million odds updates each day.
