Last-Minute Bid Could End Element Deal and See Bally’s Buy the WPT for $100 Million
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Element Partners’ bid to buy the World Poker Tour may be in jeopardy following a surprise bid from Bally’s Corporation.
Bally’s, owner of 12 casinos and racetracks across the US, wants to buy the WPT’s parent company Allied Entertainment for $100 million. (Image: Greyhound.com)
The global entertainment company made an unsolicited offer to buy the WPT’s current owner, Allied Entertainment, on Friday. The $100 million bid can be cash or a combination of cash and stocks, according to a statement from Allied Entertainment.