New price for Allied Esports Entertainment assets $90.5 million

Gambling News and Lucky Stories

The purchase deal between private equity firm Element and leading esports entertainment company Allied Esports was negotiated back in January of this year, but due to the fact that another buyer, Bally’s Corporation, was willing to pay $32 million more than Element, in the agreements There were some problems with the sale. The original buyer upped the ante and is now offering $90.5 million for Allied Esports assets including the World Poker Tour. The companies still managed to agree, but with the amendments – in the event of termination of the transaction, in a similar situation, Element Partners will receive an increased amount of compensation – it will be almost half a million more. Both sides also discussed the exact timing of a possible exit from the deal – the final date is set for September 30 this year. Provided that all shareholders of Allied Esports Entertainment approve the decision, the transaction will take place at the end of April 2021. Recall, as My Lucky Story reported in January this year, the largest sale deal between the British gambling operator Entain and MGMRI did not take place due to the fact that the parties failed to agree on a price.

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