Zona de Azar USA – Caesars to Sell WSOP Brand to NSUS for $500M

USA.- August 02, 2024 www.zonadeazar.com 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.

Edited by @pererarte   www.zonadeazar.com