Reports from Shanghai, China are that Alibaba Sports Group (AliSports) – a subsidiary of the Chinese internet commerce giant Alibaba – held a press conference this week to announce the formation of a new poker tour that will embrace Asia, Europe and North America.
Titled International Poker Tour, the initial set up includes plans for over $7 million in guaranteed prizes, with the first outing likely to be in Shanghai with an initial $870,000 investment that could see the winner taking home around $200,000.
Local reports indicate that there are also plans to introduce chess and bridge events, perhaps in an effort to cross-market between different potential audiences.
The reports note that there has been significant interest in poker competitions held in Macau over recent years, and there is clearly considerable interest in poker across the region.
Certainly Alexandre Dreyfus, a respected poker entrepreneur and founder of the Global Poker League, is enthusiastic about the development, observing that the two largest tech companies in China – Ten Cent and Alibaba – are now promoting poker in a region which holds massive potential.