BREAKING NEWS: GGPoker Buys World Series of Poker for $500 Million; WSOP to Remain in Vegas for 20 Years
Caesars Entertainment sells World Series of Poker intellectual property rights to NSUS group home of GGPoker for $500 million
Caesars Entertainment has today announced that they will be selling the iconic World Series of Poker Brand will be sold to NSUS Group Inc, a leading investment group and operators of leading online poker room GGPoker.
According to a press release, the deal is set to be worth $500 million — $250 million in cash and a $250 million promissory note “due five years after the transaction’s closing date.
The release also states that Caesars have secured the rights to continue hosting the WSOP’s flagship live tournament series at its Las Vegas properties for the next twenty years. Caesars can also still use the WSOP branding at its brick-and-mortar poker rooms, and Caesars destinations will continue to enjoy “preferential rights” to host WSOP Circuit events in the future.
WSOP Set to “Expand Worldwide”
As part of the announcement, Michael Kim, Chief Executive Officer of NSUS Group Inc, said that after collaborating with Caesars Entertainment for years, NSUS Group Inc was thrilled to announce their new role.
“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.”
The World Series of Poker already has a long history of international expansion, starting first with the introduction of WSOP Europe in 2007 and the WSOP APAC in 2013 and 2014.
Most recently, the Bahamas hosted WSOP Paradise for the first time in 2023. Less than a month ago, it was announced that the festival will return to the Caribbean in December this year.
This story is breaking and will be updated shortly
Based in the United Kingdom, Will started working for PokerNews as a freelance live reporter in 2015 and joined the full-time staff in 2019. He now works as Managing Editor. He graduated from the University of Kent in 2017 with a B.A. in German. He also holds an NCTJ Diploma in Sports Journalism.
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