Caesars Entertainment is selling the World Series of Poker to a Toronto-based iGaming investment group for $500 million. The World Series of Poker has been sold. (Image: WSOP) The deal to the NSUS Group, the investment company that owns GGPoker and other online gambling sites, is for the intellectual property rights for the WSOP. The NSUS Group agreed to pay $250 million in cash, with the rest coming in five years. “After collaborating with Caesars Entertainment for years, NSUS Group, the operators of GGPoker, is thrilled to announce their new role in leading the World Series of Poker, the world’s most renowned poker brand,” said Michael Kim , Chief Executive Officer of NSUS Group. “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.” Series staying in Las Vegas
As part of the agreement, the WSOP will continue hosting the WSOP’s summer slate at its Las Vegas casinos for the next 20 years. Caesars will also continue using WSOP branding at its brick and mortar casinos, and “will continue to enjoy preferential rights to host live WSOP Circuit events going forward,” according to the press release .
But since GGPoker operates globally, expect many more events — both live and online — to be spread throughout Asia, Europe, South America, and Canada. GGPoker is already the home to WSOP events and satellites, and it is certain it will leverage its newly-acquired brand as the largest online poker site in the world. Future of WSOP Online in U.S.?
Kim’s statement wasn’t only about WSOP’s live events. The deal includes the WSOP Online sites owned by Caesars Digital that operate in Nevada, New Jersey, Michigan, and Pennsylvania.
Caesars Digital will continue operating the online rooms “for the foreseeable future, but 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.”
Here’s guessing that NSUS Group is anticipating […]
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