Caesars Entertainment Sells WSOP Brand to NSUS Group for $500M

Caesars Entertainment has finalized a significant deal with the NSUS Group, which operates GGPoker, to transfer the intellectual property rights of the World Series of Poker (WSOP) for a substantial $500 million. This agreement, announced recently, includes $250 million in cash and a $250 million promissory note, due five years after the transaction’s closure. The promissory note is secured by the WSOP intellectual property assets.

“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,” said Eric Hession, President of Caesars Digital. Hession expressed enthusiasm about the future, highlighting the ongoing collaboration with NSUS and the potential for growth.

Continued Presence and Future Plans

As part of this agreement, Caesars will maintain its role in hosting the WSOP’s flagship live tournament series at its Las Vegas properties for the next two decades. Additionally, Caesars’ brick-and-mortar poker rooms will retain the WSOP branding. Caesars destinations will also keep preferential rights to host live WSOP Circuit events.

NSUS CEO Michael Kim expressed excitement about the acquisition, stating, “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.” Kim emphasized that NSUS plans to use GGPoker’s advanced technology and industry know-how to enhance the WSOP experience. He also noted the company’s intent to expand WSOP’s reach globally, positioning it as a leader in the poker industry.

Under the new arrangement, Caesars Digital will receive a license from NSUS to continue operating its upgraded WSOP online poker business in key states including Nevada, New Jersey, Michigan, and Pennsylvania. However, Caesars will face restrictions on running online peer-to-peer real-money poker operations for a set period, with some exceptions allowed.

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This strategic sale marks a pivotal moment for both Caesars and NSUS, reflecting a forward-looking approach to expanding the WSOP’s global presence and enhancing player experiences.

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