Caesars Leisure has agreed to promote the World Sequence of Poker model and all of its mental property to the operator of GGPoker, the NSUS Group, for $500 million. The deal ought to be finalized earlier than the tip of this 12 months and consists of $250 million in money and a $250 million promissory word payable 5 years after the deal closes.
Regardless of the sale, Caesars will retain the rights to host the annual World Sequence of Poker reside match in Las Vegas for the subsequent 20 years. Caesars Digital will even obtain a license from NSUS to proceed working its WSOP On-line real-money poker platforms in Nevada, New Jersey, Michigan, and Pennsylvania for the foreseeable future.
Nonetheless, Caesars will probably be restricted from operating on-line poker in different jurisdictions for a specified time period, topic to sure exceptions. Moreover, Caesars’s bodily poker rooms will keep WSOP branding and could have preferential rights to host WSOP Circuit occasions.
Acquired by Caesars from the Binion household in 2004, the World Sequence of Poker has grown from a single Las Vegas occasion into a world collection of tournaments and a web-based platform. The newest WSOP collection at Horseshoe Las Vegas featured 99 occasions with a complete prize pool exceeding $437 million.
