Caesars to sell WSOP brand to NSUS in $500m transaction
NSUS operates GGPoker, one of the world’s largest Poker Rooms containing a global player base.
Caesars Entertainment (Caesars) has reached an agreement with the NSUS Group (NSUS), which operates GGPoker, to sell the intellectual property rights for the World Series of Poker (WSOP) brand for $500m.
The transaction includes $250m in cash and a $250m promissory note due five years after the transaction’s closing date secured by the WSOP intellectual property assets being sold.
“We’ve enjoyed a longstanding and successful partnership with GGPoker that has helped spur the growth of the WSOP brand. This transaction is an exciting step for Caesars as a company and the WSOP brand as it continues to evolve,” Caesars Digital President Eric Hession said.
“We can’t wait to see what NSUS has in store for growing the WSOP’s legacy in poker, and we look forward to continuing to deliver an unmatched and familiar experience to poker players going forward.”
As a part of this transaction, Caesars has secured the right from NSUS to continue hosting the WSOP’s flagship live tournament series at its Las Vegas casinos for the next 20 years.
In addition, brick-and-mortar poker rooms currently operated by Caesars will continue to feature WSOP branding, and Caesars destinations will continue to have preferential rights to host live WSOP Circuit events going forward.
“After collaborating with Caesars Entertainment for years, NSUS Group, the operators of GGPoker, is thrilled to announce their new role in leading the WSOP, the world’s most renowned poker brand,” NSUS CEO Michael Kim said.
“We will leverage GGPoker’s cutting-edge technology and industry expertise to create an exciting future for WSOP, ensuring players have an increasingly improved, safe and seamless poker experience. Under the new leadership, NSUS intends to expand WSOP worldwide, positioning it at the forefront of poker’s growth.”
Caesars Digital will also receive a license from NSUS to continue operating its recently upgraded WSOP online real-money poker business in Nevada, New Jersey, Michigan and Pennsylvania for the foreseeable future. The operator will otherwise be restricted from operating online peer-to-peer real-money poker operations for a specified period of time and subject to certain exceptions.
When contacted for comment, WPT Global President Alex Scott told us: “Competition was sorely lacking in online poker for a long time, and it’s great to see that changing. We’re excited to battle it out with GG and PokerStars for the number one spot over the coming years.”
The Venetian, meanwhile, has also just unveiled its new poker room.
Tags/Keywords
Players trust our reporting due to our commitment to unbiased and professional evaluations of the iGaming sector. We track hundreds of platforms and industry updates daily to ensure our news feed and leaderboards reflect the most recent market shifts. With nearly two decades of experience within iGaming, our team provides a wealth of expert knowledge. This long-standing expertise enables us to deliver thorough, reliable news and guidance to our readers.
Latest News
