Caesars Completes Sale of WSOP Brand to GGPoker for $500M

Caesars Entertainment announced the completion of the sale of the intellectual property rights to the World Series of Poker (WSOP) brand to NSUS Group, which operates GGPoker. The deal is worth $500 million, with $250 million paid in cash and the remainder in bonds that NSUS must repay over five years. 

Caesars retains the rights to host the WSOP main event at its Las Vegas casinos for the next 20 years, and the tournaments will continue to be hosted at the Horseshoe and Paris.

Caesars has also been licensed to operate WSOP Online in several U.S. states, but with restrictions on other online real-money games. WSOP staff, including CEO Ty Stewart, will join NSUS, where Stewart will serve as CEO and Gregory Shoshone as COO. 

According to Eric Hession of Caesars Digital, the deal opens up new opportunities for the growth of the WSOP brand.