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Allied Esports Completes Sale Of WPT, Announces Resignation Of Frank Ng

On July 12th, Allied Esports Entertainment, Inc. announced it had completed the sale of its Wolrd Poker Tour entities to Element Partners, LLC. The deal was worth $105 million.

“This is a momentous day for AESE and an opportunity to focus on growing the business in exciting and innovative ways,” said Frank Ng, the former CEO of Allied Esports Entertainment. “Congratulations to Adam Pliska and his entire team at World Poker Tour as they too move into a new, successful chapter.”

Just two days after the sale’s completion, Frank Ng announced he had resigned from his position as the company’s Chief Executive Officer. According to the Orange County Business Journal, Claire Wu will be taking over as the organization’s new CEO.

Wu had previously served as the independent director of the company’s board before assuming her new role as CEO. She has experience working at Asia Pacific Capital, Inc., Davidoff Hutcher & Citron LLP, and Ourgame.

(All information was provided by Business Wire, Orange County Business Journal, and Yahoo! Finance)

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