Unified Amusement is divesting the Global Card Game Championship (GCGC) for $78.3 million. Element Associates, LLC, the acquiring entity, will provide an initial payment of $68.3 million, with the balance of $10 million disbursed over a three-year period. Unified Amusement will also retain a 5% portion of the GCGC branded competition registration fees.
This divestiture aligns with Unified Amusement’s broader strategy to reposition itself as a publicly listed holding corporation specializing in digital entertainment, encompassing real-currency gaming.
A prominent force in the card game realm, the Global Card Game Championship conducts competitions spanning five continents and commands a substantial online following. Notwithstanding the obstacles presented by the global health crisis, which compelled the GCGC to primarily function online in 2020, the brand has sustained its prosperity.
Both Frank Ng, Chief Executive of Unified Amusement, and Adam Pliska, Chief Executive of the Global Card Game Championship, conveyed positivity regarding the future. Ng emphasized the robust performance of the GCGC, while Pliska shared his enthusiasm for the upcoming phase of the GCGC brand under new stewardship.
