Caesars Sells WSOP Brand to GGPoker in $500m Deal

02 Aug 2024

Jonathan Raab 02 Aug 2024

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GG Poker Owner NSUS Group buys WSOP brand for $500M.
Caesars retains rights to host WSOP in Las Vegas.
Sale expected to close by end of 2024, pending approvals.
Possible changes to WSOP schedule explored

Jason Alexander attends the World Series of Poker (WSOP) Free-To-Play App's poker tournament at Paris Las Vegas on July 13, 2024 in Las Vegas, Nevada

Caesar's sells WSOP Brand to GGPoker in $500m Deal

Caesars Entertainment has agreed to sell the World Series of Poker (WSOP) brand to NSUS Group the powerhouse behind GGPoker, for a landmark $500 million, according to GGPoker news site gopoker.io. The deal, announced on August 1st 2024, includes $250 million in cash and a $250 million promissory note.

Despite the sale, Caesars isn't stepping away from the WSOP. 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 assumed the status of the world's largest poker site in recent years and 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 win accolades, including the Online Poker Operator of the Year Award in 2022.

As NSUS Group takes the helm of the WSOP brand, the poker community is anticipating what the future might hold for the most loved live poker brand the world has ever known. The sale is set to close by the end of 2024, pending regulatory approvals.

What might change at the WSOP?

Assuming the deal goes ahead, what changes might players expect to see at future editions of the WSOP?

As part of the deal ensures that the WSOP remains in Las Vegas at Caesar’s properties for the next twenty, there isn’t likely to be a change of venue any time soon. The 56th Annual WSOP and presumably many more will be held at the interlinked venues of the Horseshoe and Paris Casinos, right at the heart of the Las Vegas strip.

It remains to be seen what the price of a banana will be under the new owners, as there was a mild storm in a teacup at the 2024 WSOP over the inflated $6 that was being charged. Some also were unhappy about the $12 price tag for a hotdog. Perhaps GG Poker can revolutionise the price of these items back to...let's say...2005 prices.

The bracelet schedule could see some changes, however these might happen gradually rather than in a single swathe. Perhaps an Omaholic event will be included as a bracelet event in the future?

The GG Million$ also seems like a strong candidate for an event that could become a live bracelet event. The event is already a regular event on the Triton Poker Series and could easily find its way onto the WSOP live bracelet schedule.

A permanent WSOP tab in the GG Poker client is another distinct possibility. The site already hosts several online WSOP festivals per year, as well as satellites to the WSOP, WSOP Europe and WSOP Paradise.

An annual major WSOP event in Asia seems like another strong possibility. The World Series of Poker did hold the WSOP Asia Pacific in 2013 and 2014 and the establishing of an annual event, perhaps sponsored by Natural 8 Poker, could be on the cards for 2025.