Asian Poker Tour Ltd has announced the sale of its live poker tournament brand Asian Poker Tour (APT) to a “newly formed” entity, called APT Events Private Ltd. The value of the deal was not disclosed in Wednesday’s press release.
The poker tournament brand was founded in 2008. It was until now controlled by Asian Poker Tour Ltd, a unit of Asianlogic Group, the latter an investor in online and land-based gaming.
APT Events Private, created on June 1, is based in Kuala Lumpur, Malaysia.
The announcement said that Jeff Mann, who was APT’s chief executive since 2010, will remain at Asianlogic and will “relinquish his role” as the brand’s CEO. He will “continue to serve as the primary consultant to ensure a smooth transition,” added the statement.
Lloyd Fontillas will continue as general manager and executive tournament director of APT, and lead the live events team, according to the release.
Mr Mann was cited in the release as saying: “It was of the utmost importance that any partnership or sale would only go to an organisation with the same passion and dedication to continue developing the Asian Poker Tour as we always envisioned. Frankly, I’m pumped up by what the future holds for APT.”
The release has also included prepared remarks from Michael Soyza, described as a partner at APT Events Private: “Jeff (Mann) and Lloyd (Fontillas) have done a tremendous job of building the APT to where it is today. All the stakeholders, including myself, have been active participants on the APT for over a decade. We are beyond excited to work with the team and hope to reach new heights as we usher in a new era for the Asian Poker Tour.”
Mr Soyza is also a strategic advisor and “will oversee the organisational restructuring” of the APT brand, the firm said in a follow-up statement to GGRAsia. Mr Soyza and Mr Fontillas “will identify and fill the necessary leadership roles that will carry the Asian Poker Tour into its next era,” it added.
According to the release, the APT has staged more than 100 events, mainly in Asia Pacific. The APT events have, in aggregate, generated over US$100 million in prize money awarded to players, it added.
(Updated at 9.30pm, Jun 2)
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