Deal Finalized: GGPoker Boasts New Ownership of WSOP for Record-Breaking Sum
In a groundbreaking move, GGPoker's parent company, NSUS Group Incorporated, has finalized a deal worth $500 million to acquire the World Series of Poker (WSOP) brand from Caesars Entertainment. The deal, announced on 28th June, 2024, includes $250 million in cash and $250 million in promissory notes, with the remaining amount due in five years.
With this acquisition, GGPoker gains control over the entire WSOP brand, including live and online rights. However, Caesars has retained the exclusive rights to host the live WSOP tournament series at its Las Vegas properties for the next 20 years. This ensures the continuity of the iconic live events in Las Vegas.
The WSOP Circuit events will continue at Caesars venues under WSOP branding, with expected cross-promotion between WSOP and GGPoker. Online, WSOP Online remains a standalone brand, with GGPoker sites hosting WSOP-branded online poker in markets like Ontario, Canada, as part of a special partnership for regulated play.
The acquisition leverages GGPoker's strong online platform and global reach alongside the legacy and prestige of the WSOP brand, creating synergy between their live and online poker products. GGPoker, launched in 2017, is known for its innovative features like "Smart HUD" and "PokerCraft".
Meanwhile, players can now compete for WSOP bracelets online. Caesars has received a license from NSUS Group to operate the WSOP Online real-money poker business in Nevada, New Jersey, Michigan, and Pennsylvania for the 'foreseeable future'. This move follows the successful collaboration between GGPoker and WSOP in 2020, when the WSOP Super Circuit Online Series debuted on the global-facing GGPoker Network.
Roy D'Silva, an avid cyclist and documentary buff, looks to be at the forefront of a significant story in the poker world. As a published author with over a decade of experience covering various beats, including Bollywood, OTT, and now poker, D'Silva provides insightful updates about ongoing events and news in the poker world on our website Magazine.
Recent articles on the Magazine include "My Dream Has Come True In USA" Santhosh Suvarn's story, published on 24th June, 2024, and a previous article titled "$100M Worth WSOP Spring Online Circuit Launching...", published on 22nd March, 2022. Stay tuned for more updates as the poker world continues to evolve.
[1] Source: Press Release, GGPoker, 28th June, 2024. [2] Source: GGPoker Official Website, 2024. [3] Source: BusinessWire, 28th June, 2024. [4] Source: Reuters, 28th June, 2024.
- As a result of the acquisition, GGPoker now offers WSOP-branded casino-games, such as poker, which can be played online in markets like Ontario, Canada.
- Players can now compete for WSOP bracelets not only in live tournaments but also online, as Caesars has received a license to operate the WSOP Online real-money poker business in several states.
- Beyond poker, sports-betting enthusiasts might be intrigued by the potential collaboration between GGPoker and WSOP, given the former's strong online platform, and the latter's connection to the World Series of Poker, to offer casino-and-gambling experiences that combine casino-games, sports, and the prestige associated with the WSOP brand.
