Caesars Trades $500M In WSOP Brand Sale To NSUS Group
Casinos industry pioneer Caesars Entertainment announced today that it has finally agreed to sell the intellectual property rights of the World Series of Poker (WSOP) to NSUS Group, a prominent figure in iGaming investment. The landmark $500 million deal consists of $250 million in cash and equivalent promissory notes due in five years for WSOP assets.
Strategic Partnerships and Licensing Details:
Under the terms of this important deal, Caesars has ensured that WSOP’s major live tournament events will continue at the Las Vegas Stadium for the next 20 years. In addition, the Caesars-branded poker stadium will maintain the WSOP insignia to ensure continued brand consistency. In addition, Caesars will maintain its priority to host WSOP-C (WSOP-C) events, ensuring its continued presence in the competitive poker circuit environment.
Caesars Digital, the online arm of Caesars Entertainment, will also benefit from licensing agreements that will allow it to operate upgraded WSOP online platforms in key states such as Nevada, New Jersey, Michigan and Pennsylvania. However, the agreement limits Caesars’ ability to participate in other online incontinence P2P poker ventures for the agreed period of time, with specific exceptions specified.
“We have enjoyed a long and successful partnership with GGPoker, which has helped fuel the growth of the WSOP brand,” said Eric Hession, president of Caesars Digital. In an official press release, he expressed his passion for the future, saying, “This deal is an exciting step as the Caesars and WSOP brands continue to evolve. We can’t wait to see what NSUS is preparing to grow the legacy of WSOP in poker, and we look forward to continuing to deliver unrivalled and familiar experiences to poker players in the future.”
According to Poker News, Michael Kim, CEO of NSUS Group Inc., shared the joy of taking the helm of the world-famous poker brand. “We will leverage GGPoker’s cutting-edge technology and industry expertise to enable players to have an increasingly improved, safe, and seamless poker experience to create an exciting future for WSOP. Under the new leadership, NSUS plans to expand WSOP globally to position it at the forefront of poker growth.”
Way forward and regulatory approval:
The ownership transition will redefine the game for professional poker as Caesars continues to play a pivotal role in the branding and operations of the WSOP event. The deal, poised to be finalized by the end of 2024, awaits approval from regulators and the fulfillment of customary closing conditions. The legal advisory role was held by Caesars’ Kirkland & Ellis LLP, while NSUS was represented by Greenberg Traurig LLP.
As Caesars and NSUS prepare for the finalization of the deal, the poker community is watching in anticipation of being ready to witness the next chapter of the WSOP heritage unfold under new stewardship. 바카라사이트 추천
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