Caesars Entertainment finalizes purchase of World Series of Poker® brand by NSUS Group for $500 million in US currency.
In a significant shift in the gaming industry, the World Series of Poker (WSOP) brand has been sold by Caesars Entertainment to NSUS Group Inc., the parent company of GGPoker, for a sum of $500 million. The deal, announced in August 2024, marks a major milestone in the ownership of one of the most prestigious poker brands globally.
Key details of the sale include Caesars Entertainment as the seller, NSUS Group Inc. as the buyer, a sale price of $500 million, and a sale date of August 2024. This acquisition allows NSUS Group to integrate the WSOP brand into its global poker operations, expanding its footprint in both online and live poker markets.
The sale price consists of $250 million in cash and a $250 million promissory note, secured by the WSOP intellectual property assets being sold. Caesars destinations will continue to enjoy preferential rights to host live WSOP Circuit events, and the company retains the right to host the flagship WSOP live tournament series at its Las Vegas casinos for the next 20 years.
However, Caesars is restricted from operating online peer-to-peer real-money poker operations for a specified period, with certain exceptions. Brick-and-mortar poker rooms currently operated by Caesars will continue to feature WSOP branding.
In the new leadership, Ty Stewart has been appointed as the Chief Executive Officer of the newly formed WSOP subsidiary. Erik Eidissen has joined as Communications Manager, and Gregory Chochon has accepted the position of Chief Operating Officer within the NSUS team.
Caesars Entertainment, Inc. is committed to its employees, suppliers, communities, and the environment through its PEOPLE PLANET PLAY framework. The company offers diversified gaming, entertainment, and hospitality amenities, one-of-a-kind destinations, and mobile/online gaming and sports betting experiences.
For more information about Caesars Entertainment, Inc., visit www.caesars.com/corporate. If you or someone you know may be experiencing gambling problems, call or text 1-800-GAMBLER for help.
The gaming and iGaming industries have seen a trend of consolidation and strategic expansion, and this sale of the WSOP brand reflects a major deal in the global poker ecosystem.
- The acquisition of the World Series of Poker (WSOP) brand by NSUS Group Inc., the parent company of GGPoker, for $500 million, signals a significant shift in the casino-and-gambling industry.
- Ty Stewart has been appointed as the Chief Executive Officer of the newly formed WSOP subsidiary, while Erik Eidissen has joined as Communications Manager, and Gregory Chochon has accepted the position of Chief Operating Officer within the NSUS team.
- Caesars Entertainment will continue to host the flagship WSOP live tournament series at its Las Vegas casinos for the next 20 years, while being restricted from operating online peer-to-peer real-money poker operations for a specified period, with certain exceptions.
- Brick-and-mortar poker rooms currently operated by Caesars will continue to feature WSOP branding, reflecting the enduring influence of casino culture in poker and sports betting trends.
