To Split or Not to Split: Should I split one website into multiple?

I have a website that's been around for over 13 years built on Wordpress. Let's say it's about video games (it's not but it will serve as an analogy.) It's a news and reviews website - not a store or business. Revenue is all from ads. DA 61, for reference on age/size/popularity.

tl;dr: Is it OK to split an old website into multiple new ones (splitting off a new niche from the old general site), copy over the posts related to the new niche, and 301 redirect the old posts to the new...​

To Split or Not to Split: Should I split one website into multiple?

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