Caesars Sells WSOP Brand For $500 Million

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Caesars Entertainment has decided to part ways with one of its iconic brands – the World Series of Poker (WSOP). The Las Vegas-based casino operator has agreed to sell the  poker franchise to NSUS, a Canadian online gaming company, for $500 million.

The terms of the agreement dictate that NSUS will initially pay $250 million to acquire the WSOP brand, with an additional $250 million due in five years.

While parting ways with the iconic brand, Caesars Entertainment has ensured that it will continue to host live WSOP events in Las Vegas for the next two decades.

Alongside the sale of the WSOP brand, Caesars Digital has secured a licensing agreement with NSUS, granting it the right to operate online cash poker businesses in four key states: Nevada, New Jersey, Michigan, and Pennsylvania. This move positions Caesars to fortify its online poker offerings, leveraging the expertise and cutting-edge technology of its new partner.

Eric Hession, the president of Caesars Digital, expressed enthusiasm about the transaction, highlighting the longstanding and successful partnership between Caesars and GGPoker. He emphasized the company’s excitement for the future growth and evolution of the WSOP brand under NSUS’s stewardship.

Michael Kim, the CEO of NSUS, outlined the company’s ambitious plans to leverage GGPoker’s industry-leading technology and expertise to create an exciting future for the WSOP brand. The overarching goal is to expand the World Series of Poker’s global footprint, positioning it at the forefront of poker’s growth and ensuring players have an increasingly improved, safe, and seamless poker experience.

The World Series of Poker (WSOP) can trace its origins back to 1970, when the inaugural event was held at the Horseshoe Casino in Las Vegas, the WSOP has evolved into a highly coveted championship that attracts players from around the world.

In its early years, the WSOP was a relatively modest affair, with a handful of participants vying for modest prize pools. However, as the popularity of poker skyrocketed in the late 20th century, fuelled by the advent of online poker and televised tournaments, the WSOP experienced a surge in interest and participation.

While Caesars Entertainment is parting ways with the iconic WSOP brand, it is simultaneously strengthening its position in the online poker market. The licensing agreement with NSUS enables Caesars Digital to operate online cash poker businesses in key states, positioning the company to capitalize on the burgeoning digital gaming sector.

NSUS, the Canadian online gaming conglomerate behind the acquisition of the WSOP brand, is no stranger to the world of online poker. With its flagship platform, GGPoker.

By acquiring the WSOP brand, NSUS aims to leverage its cutting-edge technology and industry expertise to elevate the World Series of Poker experience to new heights. The company’s vision involves creating a seamless and secure poker ecosystem that combines the prestige of the WSOP with the convenience and accessibility of online gaming.