Tuesday January 19, 2021 at 10:20 pm

The World Poker Tour will have a new owner and news of the WPT sale broke today. Allied eSports Entertainment sold the World Poker Tour to a private group called Element Partners, LLC for $78,250,000. The deal will finalize in the upcoming weeks. Lyle Berman and Steve Lipscomb started the WPT 2002 and it's amazing to see the company grow into a multi-million dollar and global entity.

wptonlinelogo2021

It's been a difficult year for the live tournament scene during the era of COVID-19 and the coronavirus pandemic turning the poker world and casino realm upside down. The World Poker Tour will be under new ownership cannot help but wonder how the coronavirus pandemic sort of forced the action on this one because the WPT had one of their best years because of the online gambling and online poker element. The pandemic forced many gaming companies to pivot and focus on online revenue streams and the ones that relied solely on live brick and mortar events were crushed. partypoker's involvement with the World Poker Tour allowed WPT live events to take place in a safe environment online at partypoker. According to a company report, signups were boosted by 61% in late 2020 due to the pandemic. Without live poker or casinos, poker players fired up online sites.

"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," said Allied CEO Frank Ng said via a recent news release.

The WPT Online Championship was a huge success for its $100 million guaranteed prize pool. Phillip Mighall won the Main Event for $1.7 million.

Allied eSports Entertainment, publicly traded at AESE, agreed to sell the World Poker Tour to Element Partners for $78.25 million. The deal for the WPT includes cash up front for $68,250,000 plus $10 million to be paid out over the next three years via 5% of all entry fees.

"I want to thank Frank Ng and the entire AESE management team for their support in allowing WPT to flourish during this period," said WPT CEO Adam Pliska. "My management team and I are excited about this next chapter and the tremendous new opportunities for the WPT brand and business."

“2020 was an exceptional year for WPT's online and interactive services pillars of its business model,” the company's news release notes.

The World Poker Tour came to fruition in 2002 as the brainchild of TV producer Steve Lipscomb and businessman/high-stakes pro Lyle Berman. The WPT flourished thanks to a broadcast deal with the Travel Channel. Right place, right time. The WPT arrived at the cusp of the online poker boom. Wednesday nights were must-see TV thanks to the WPT on the Travel Channel. One of the juiciest times to play online poker back then was on Wednesday nights before and after airings of the WPT episodes.

In the last two decades, an estimated $1 billion had been awarded in prize money via WPT-branded events and tournaments. That's a heck a of lot of money changing hands via poker.

The WPT's first sale happened in 2009 when PartyGaming (aka partypoker) took control for a modest price worth 12.3 million. While partypoker owned the WPT, it merged forces with bwin gaming to form bwin.party. In 2016, bwin.party sold the WPT to Ourgame International Holdings LTD, a Chinese social gaming company, for $35 million in cash.

In 2018, Lyle Berman wanted back into the business and bought the WPT from Ourgame for $50 million. Berman's new company was initially known as the Black Ridge Acquisition Corporation, but then rebranded as Allied Esports Entertainment.

Allied bought the WPT for $50 million and sold it for $78 million. Not too shabby, eh? Allied is rumored to be shedding their eSports assets too.

Not much is known about the new company, Element, that purchased the WPT.

The WPT Montreal Online is currently running on partypoker. Two live WPT events are slated including the WPT Lucky Hearts Poker Open at the SHR in Hollywood, Florida and the WPT Venetian in March.

Latest news
Monday October 18, 2021 at 5:22 pm
2021 WSOP: Phil Hellmuth wins bracelet #16

On a Sunday night at the Rio Casino in Las Vegas, Phill Hellmuth won bracelet #16 as the last player standing in 2021 WSOP Event #31 $1,500 NL 2-7 Lowball Draw. Hellmuth outlasted 272 runners and banked $84,851 for his victory. He defeated Jake Schwartz heads up for the Lowball win and outlasted a final table that also included Chris Vitch, Rep Porter, Josh Faris, and Dario Sammartino.

Thursday October 14, 2021 at 4:06 pm
2021 WSOP: Daniel Lazrus binks Milly Maker for cool million

We finally have a champion in the Milly Maker. In 2021 WSOP Event #17 MILLIONAIRE MAKER, pro Daniel Lazrus outlasted a field of 5,326 runners to win his second bracelet and a cool million bucks out of the $7.1 million prize pool. Ryan Leng shipped his third bracelet in 2021 WSOP Event #23 $1,500 8-Game Mix. Michael Prendergast won his first bracelet and $127,428 with a victory in 2021 WSOP Event #24 $600 PLO Deepstack by fading 1,572 runners.

Wednesday October 13, 2021 at 5:18 pm
PokerStars launches another Dare2Stream competition on Twitch

If you ever dreamed about becoming a sponsored player and the next poker ambassador for PokerStars, then the latest Dare2Stream competition on Twitch is up your alley. Dare2Stream returns to PokerStars with a coveted PokerStars Ambassador contract up for grabs to the winner. The competition runs from October 23 to December 12 on Twitch with a one-year contract at stake.

Tuesday October 12, 2021 at 9:03 pm
2021 WSOP: Anthony Zinno, Vladimir Peck, DJ Alexander newest bracelet winners

Anthony Zinno shipped 2021 WSOP Event #19 Seven Card Stud Championship for his third career-bracelet and outlasted a tough final table that included Phil Hellmuth who was denied his 16 the bracelet. Vladimir Peck outlasted 253 runners to win Event #18 $2,500 Mixed Triple Draw Lowball for a score worth $134,390. DJ Alexander took down Event #20 $1,000 GGPoker Flip & Go and outlasted 1,240 runners to win $180,665 and his first-ever bracelet.

Sunday October 10, 2021 at 9:36 pm
2021 WSOP: John Monnette denies Nate Silver gold bracelet

The 2021 WSOP had a stacked final table in Event #16 $10,000 Limit Hold'em Championship, when John Monnette won his fourth-career bracelet by defeated Nate Silver heads-up for the gold bracelet and $245,680. The $10K LHE final table also included Eric Kurtzman, Terence Chan, Jason Somerville, John Racener, Scott Tuttle, and Chris Chung. In the other LHE event, Israel's Yuval Bronshtein won his second bracelet with a victory in Event #12 $1,500 Limit Hold'em for a $125K score.

Friday October 8, 2021 at 1:31 pm
2021 WSOP: Ari Engel, Jason Koon, Zhi Wu, Michael Perrone win bracelets

Phil Hellmuth made another final table at the 2021 WSOP in his pursuit of bracelet #16, but he could only muster up a fifth-place finish in Event #9 $10,000 Omaha 8 Championship when the Poker Brat entered the final day as the short stack. Ari Engel outlasted 134 runners to win the bracelet and $317,076 after winning a marathon heads-up battle. Jason Koon shipped Event #11 $25,000 Heads-Up Championship by defeating Gabor Szabo heads up for his first-ever bling. Meanwhile, Zhi Wu won Event #8 $600 NL Deepstack and banked $281,604 and his first bracelet by outlasting a hefty field of 4,527 runners. Also, Michal Perrone edged out Pierre Calamusa and a field of 1,640 entrants to win Event #10 $1,000 Super Turbo Bounty NL for $152,173.

Wednesday October 6, 2021 at 9:21 pm
The Card Counter: quick review of new Paul Shrader film

"The Card Counter", a film written and directed by Paul Shrader, hit the big screens last month but it's now available on VOD services. The Card Counter is more of a revenge thriller and anti-war film disguised as a gambling and poker movie. Oscar Isaac plays a small-time gambler William Tell, an ex-vet of the Iraq War who focuses on low-stakes poker and counting cards at blackjack tables in local casinos, while he tries to keep his demons at bay. He takes a college drop out on the road with him, while trying to help the kid avoid a dark path of revenge against his former boss.

Tuesday October 5, 2021 at 4:27 pm
2021 WSOP: Connor Drinan wins Omaha 8, Tyler Cornell binks $25K High Roller

The 2021 World Series of Poker at the Rio Casino in Las Vegas added two more winners. Connor Drinan emerged the victor in Event #5 $1,500 Omaha 8 after surviving a field of 607 entrants to win $163,252. Tyler Cornell snagged his first bracelet as the last player standing in Event #6 $25,000 High Roller after he outlasted 135 entrants and banked $833,289 at a tough final table that included Michael Liang, Adrian Mateos, Jonathan Jaffe, Mustapha Kanit, and Paul Newey.

Monday October 4, 2021 at 8:41 pm
GGPoker adds Jason Koon as newest brand ambassador

GGPoker expanded their roster of brand ambassadors with the addition of American pro Jason Koon, which was announced at the 2021 WSOP over the weekend. Koon won over $32.5 million in live tournaments during his career and he's currently ranked #10 all-time on Hendon Mob. Koon joins Daniel Negreanu and Fedor Holz as GGPoker's brand ambassadors.

Sunday October 3, 2021 at 3:07 pm
2021 WSOP: Jesse Klein wins Event #2 $25,000 HORSE

Cash game-specialist Jesse Klein took down the first open event at the 2021 World Series of Poker with a victory in Event #2 $25,000 HORSE for $552,182after he outlasted a field of 78 runners and survived a tough final table that included Phil Hellmuth, Benny Glasser, David Benyamine, Ben Yu, and Matt Glantz. Hellmuth was denied bracelet #16 when he busted in sixth place.

Thursday September 30, 2021 at 5:20 pm
PokerStars European Poker Tour returns with the EPT Prague

The red spade returns to live action! Get ready for the anticipated return of the European Poker Tour when the EPT springs into action with the 2021 EPT Prague. The Hilton Hotel Prague will host a full slate of live events between December 8 and 19. The €5,300 buy-in Main Event begins December 13 and satellites starting this weekend for as low as €1. Other notable events will include the return of the €1,100 EPT National and the €10K EPT High Roller.

Thursday September 30, 2021 at 1:22 am
Michael Addamo wins 2021 Super High Roller Bowl VI for $3.4 million score

Michael Addamo continued his hot streak with an impressive victory in 2021 Super High Roller Bowl VI at the Aria Casino. The Aussie pro dominated a tough field of supreme superstars to bank $3.4 million including defeating three-time SHRB champ Justin Bonomo heads up for the SHRB VI title. Addamo won the final two events at the Poker Masters two weekends ago to win the coveted purple jacket to add to his SHRB VI crown.

Monday September 27, 2021 at 4:40 pm
2021 WSOP begins this week in Las Vegas with $25K HORSE, COVID charity event

The 2021 World Series of Poker returns to the Rio Casino in Las Vegas on September 30 to kick off 99 bracelet events including 11 online events at WSOP.com and 88 live events at the Rio. The 2021 WSOP will require all players to show proof of vaccination. On Thursday, three events kick off the 2021 WSOP with Event #1 $500 NL Casino Employees Event, Event #2 $25,000 HORSE, and Event #3 $1,000 Covid-19 Relief NL Charity Event.

Thursday September 23, 2021 at 8:26 pm
Poker rooms at the Flamingo and Bally's to close during WSOP

The 2021 World Series of Poker begins in one week, but Caesars Entertainment announced that poker rooms at two of their Las Vegas Strip properties will be dark during the WSOP to assist with staffing shortages at the Rio. Bally's and the Flamingo will not spread live poker between September 26 and November 26. Both rooms expect to re-open at the end of November, but in the era of COVID and consolidation, you never know.

Wednesday September 22, 2021 at 7:55 pm
2021 World Series of Poker adds 11 online bracelets to schedule

The 2021 World Series of Poker returns to a live setting at the Rio Casino in Las Vegas, but there will be 11 additional online bracelet events at WSOP.com up for grabs. All of the online bracelet events will take place on Sundays. Ten of those events are open to anyone playing online poker in Nevada and New Jersey, while one bracelet event will exclusively be at stake for online players in Pennsylvania.

Monday September 20, 2021 at 11:03 pm
2021 Poker Masters: Michael Addamo newest champion with back-to-back event victories

Australian pro Michael Addamo was the only player to win multiple events at the 2021 Poker Masters after he won consecutive events to cap off the prestigious high roller series at the Aria Casino in Las Vegas. Addamo banked $1.84 million in combined earnings with a victory in Event #11 $50,000 NL and another win in Event #12 $100,000 NL. Addamo also won the purple jacket, presented to the top player on leaderboard.

Thursday September 16, 2021 at 4:56 pm
2021 Poker Masters: Stephen Chidwick, Daniel Negreanu, Chris Brewer, Maxx Coleman Win Events

The 2021 Poker Masters crowned a couple of new champions this week with Chris Brewer shipping Event #8 $25,000 NL, Stephen Chidwick binking Event #7 $10,000 NL, Maxx Coleman winning Event #6 $10,000 8-Game, and Daniel Negreanu victorious in Event #5 $10,000 NL. Overall, Brock Wilson is atop of the leaderboard with Brewer and Negreanu in hot pursuit of the Poker Masters purple jacket with four events remaining.

Tuesday September 14, 2021 at 9:03 pm
RIP Norm Macdonald, comedian and gambler

Norm Macdonald, a comedian from Canada known for his stint as the host of Weekend Update on Saturday Night Live, passed away at age 61 after a decade-long battle with cancer. Macdonald was an avid poker player and sports bettor. Macdonald cashed in a trio of World Series of Poker events, won two lo-fi Aria nightly tournaments, and was briefly sponsored by PokerStars during the height of the online poker boom in the late 2000s.

Monday September 13, 2021 at 7:22 pm
Russia's Aleksei Vandyshev wins 2021 WSOP Online Main Event at GGPoker

Russia's Aleksei 'Ha KoJleHu' Vandyshev outlasted a field of 4,092 runners to win 2021 World Series of Poker Online Event #27 $5,000 NL Hold'em Championship at GGPoker that had 27 different opening flights. Vandyshev won his first WSOP gold bracelet and earned a hefty payout worth $2,543,073 after he defeated Brazil's Edson 'CrownUpTsu' Tsutsumi Jr. heads up for the title.

Friday September 10, 2021 at 5:26 pm
Doyle Brunson documentary in production by 'The Last Dance' director

Doyle Brunson aka Texas Dolly is getting his own documentary film, but this one seems a little bit extra special because it will be helmed by Jason Heir, the director from Michael Jordan's "The Last Dance", which was a huge hit for ESPN and Netflix last year. Heir is producing and directing the untitled documentary about the legendary Doyle Brunson, which also does not have a release date.

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