WSOP Brand sold to GGPoker in $500m Deal

GGPoker's Owner NSUS Group Buys WSOP Brand for $500 Million

Caesars Entertainment has agreed to sell the World Series of Poker (WSOP) brand to NSUS Group the powerhouse behind GGPoker, for a whopping $500 million according to GGPoker news site gopoker.io. The deal, announced today, includes $250 million in cash and a $250 million promissory note, highlighting NSUS Group's commitment to revolutionizing the WSOP experience.

Despite the sale, Caesars isn't stepping away from the WSOP entirely. The gaming giant retains the right to host the iconic WSOP summer series on the Las Vegas Strip for the next 20 years. Moreover, Caesars will continue to brand its brick-and-mortar poker rooms with the WSOP name and hold exclusive rights to host live WSOP Circuit events.

Caesars Digital will also keep running its WSOP Online real-money poker operations in key states like Nevada, New Jersey, Michigan, and Pennsylvania. However, their online peer-to-peer poker operations will be limited under the new agreement, ensuring NSUS Group's dominance in the digital poker space.

Eric Hession, President of Caesars Digital, expressed optimism about the transition, saying, "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 and the WSOP as it continues to evolve."

On the other side of the deal, Michael Kim, CEO of NSUS Group, shared his enthusiasm, stating, "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."

GGPoker, renowned as the world’s largest online poker room, has been a significant force in the poker industry. With innovative features like Rush & Cash poker, All-In or Fold, and the integrated staking platform, GGPoker has set new standards for online gaming. Their 2020 WSOP Online main event broke world records, and the platform continues to garner accolades, including the Online Poker Operator of the Year Award in 2022.

The sale is set to close by the end of 2024, pending regulatory approvals.