Deals
Esports Has New Publicly Traded Company Putting on a Poker Face
- New company is merging Allied Esports and World Poker Tour
- Black Ridge Acquisition Corp. is buying brands from Ourgame
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The rapidly expanding world of esports has a new publicly traded company, one that’s hoping to learn from the business model of another online gaming predecessor: poker.
Black Ridge Acquisition Corp. has agreed to purchase Allied Esports International Inc., an esports entertainment company, and WPT Enterprises, the creator of the World Poker Tour, from Ourgame International Holdings Ltd. for about $150 million. The new company, called Allied Esports Entertainment Inc., will have an initial enterprise value of about $214 million and trade on the Nasdaq under the symbol AESE.