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NewsMarch 15, 2021·1 min read
Bally’s Entertainment Raises Bid for World Poker Tour to $105 Million
The bidding war for the World Poker Tour (WPT) and its parent entity, Allied Esports, has continued with a new offer from Bally’s Entertainment. The company has made a $105 million bid, announced on Thursday. Allied Esports had previously approved a $90.5 million offer from Element Partners LLC.
Bally’s Entertainment is not associated with the Bally’s Casino venues owned by Caesars Entertainment. The company is known for acquiring properties and business entities at below-market prices. Bally’s Entertainment owns a dozen venues itself, mostly in eastern US states.
Allied Esports includes the WPT and a small handful of other assets, currently holds a market valuation of roughly $120 million. The World Poker Tour has passed through numerous corporate hands since it was founded in 2002.
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