��Planet Poker Tour Purchased By Black Ridge Acquisition Corp B. Solomon,December 26, 2018 11:52 WPT Enterprises, mother or father firm of the World Poker Tour and Allied Esports International, has signed a merger deal with US firm Black Ridge Acquisition Corp. The $150 million acquisition is anticipated to be finalized in early 2019, with the company to be referred to as Allied Esports Entertainment Inc., and publicly traded on Nasdaq as AESE. Company BackgroundsInterestingly, Black Ridge Acquisition Corp is managed by Lyle Berman (photo), a 3-instances WSOP bracelet holder, who with each other with Steve Lipscomb originally founded the Planet Poker Tour in 2002. The brand has considering that grown into the world's premier identify in televised gaming and entertainment. In 2015, the WPT was subsequently acquired by Ourgame Worldwide Holdings Ltd for $35 million. The Hong Kong-listed firm is 1 of Asia's best social gaming companies, with its item variety including a variety of card and board video games offered by way of on the web and mobile platforms. Fascinating OpportunityOnce the deal is finished, Black Ridge Director Lyle Berman will presume AESE's chairman part, even though existing Ourgame chief executive Frank Ng will grow to be its CEO. Commenting upon the merger, Berman mentioned that it was the most thrilling chance" he had encountered in far more than 4 decades in the gaming and enjoyment market. He also additional that capital raised would be employed to broaden AESE's international residence portfolio, and accelerate its initial-mover advantage within Esports. Meanwhile, Frank Ng stated that the transaction would give the Esports local community with a globally linked Esports organization with the volume and depth of merchandise that the industry has more and more been demanding. Elaborating further, Ng stated: By applying WPT's confirmed organization model to the considerably larger, higher-growth global Esports organization, we are creating an Esports enjoyment platform that is long-lasting and positioned to capture the Esports monetization chance." Deal Unanimously ApprovedBoth the boards of Black Ridge and Ourgame have unanimously approved the deal, but need to now await regulatory and stockholder approval before going ahead. All becoming nicely, the transaction is anticipated to be finalized sometime for the duration of the the first three months of 2019. Ourgame will subsequently get $118 million in Black Ridge shares, and be given the selection to purchase a more three.8 million in Black Ridge shares for $11.50 per share. Options For WPTAs component of the deal, Adam Pliska will carry on to be the World Poker Tour's President and CEO, as effectively as AESE President. Joining him will be Eric Yang as Vice Chairman, Ken DeCubellis as Chief Fiscal Officer, and David Moon as Chief Working Officer. Meanwhile, Pliska has assured the poker neighborhood that WPT possibilities would only enhance as a end result of the deal, and that the WPT will proceed to stay the poker world's gold standard for years to come. It would look, nonetheless, that the WPT's association with Esports will be instrumental in assisting it attain the subsequent level of development. This tallies with a statement produced by the WPT in Could 2018 that poker and Esports take pleasure in cross synergies and complement 1 yet another. At existing, information are sketchy as to how this will be attained. Nonetheless, the HyperX Esports Arena at the Luxor Hotel & Casino in Las Vegas is expected to kind element of the major alterations previously hinted at by the WPT. Black Ridge Chairman Ken DeCubellis spoke to Bloomberg recently, and as the news source subsequently stated: The new firm programs to operate venues, sell the content material produced by those occasions, and then move viewers onto a new on the web tournament platform to be launched in 2020." In the interview, Ken DeCubellis pointed in the direction of the present gap which exists in Esports monetization right now, and a golden opportunity to monetize viewership. asianpoker88 asianpoker88