GGPoker Acquires Caesars’ WSOP for $500 Million
Caesars Entertainment Inc. is selling its World Series of Poker brand to NSUS Group Inc., the parent company of GGPoker, in a deal worth $500 million.
Caesars will continue to host WSOP tournaments at its Las Vegas properties for 20 years.
LISTEN TO THIS ARTICLE:As stated in the agreement, $250 million will be paid in cash, while the other half will be in a promissory note due in five years. Furthermore, Caesars will reserve the right to host WSOP tournaments at its Las Vegas casinos for the next 20 years and continue using the brand for its online poker business powered by 888 in Nevada, Michigan, New Jersey and Pennsylvania.
However, the agreement bars the company from expanding into additional states, such as West Virginia, for a specified time.
In May, Caesars merged player pools in Nevada, New Jersey, and Michigan alongside a WSOP Online rebrand from WSOP.com. Pennsylvania is not included in the joint pooling as its regulatory framework is yet to permit pooling with other markets.
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. 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.
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Sale Builds on Existing Partnership
The sale builds on the existing collaboration between GGPoker and WSOP, as the brands have successfully partnered on various online poker tournaments. Over the past few years, GGPoker has sent several online satellite qualifiers to WSOP events in Las Vegas and Paradise. Notably, during the COVID era, GGPoker hosted a global online WSOP tournament series, which awarded 54 WSOP bracelets.
GGPoker has also been powering WSOP.com in Ontario since the poker platform launched in the province in April 2022, making it a prominent player in the Ontario online casino market.
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. 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.
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