Caesars Entertainment Sells World Series of Poker Brand for $500 Million

Caesars Entertainment Inc. has sold the World Series of Poker (WSOP) brand to NSUS Group, the investment group behind the popular online poker platform GGPoker.

The deal, valued at $500 million, will see half of the payment made immediately and the other half paid over the next five years.

Despite the sale, Caesars will continue to host the flagship summer WSOP tournaments at their Las Vegas casinos for the next 20 years. Caesars also retains the rights to use the WSOP brand in their land-based casinos and online poker platforms, which operate in Nevada, Michigan, New Jersey, and Pennsylvania.

NSUS Group plans to expand the WSOP brand globally, according to Michael Kim, CEO of the group.

“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,” said Kim. “Under the new leadership, NSUS intends to expand WSOP worldwide, positioning it at the forefront of poker’s growth.”

Established in 1970, the World Series of Poker stands as the premier poker tournament, often dubbed the unofficial world championship of poker. This year’s WSOP saw a turnout of nearly 230,000 players, generating a prize pool exceeding $438 million.

We previously reported that the WSOP Main Event is among the top 5 richest poker tournaments in the world.

Doyle Brunson, The King of the WSOP