In a groundbreaking move that has sent shockwaves through the poker world, Caesars Entertainment has announced the sale of the rights to the prestigious World Series of Poker (WSOP) for a staggering $500 million. The deal, which was finalized on Friday, marks the end of an era for the iconic poker tournament, which has been a cornerstone of the Las Vegas gambling scene for over 50 years.
The buyer of the WSOP rights is a consortium of investors led by tech entrepreneur Matt Savage, a familiar face in the poker world who has been involved in organizing major tournaments for decades. The deal includes the rights to host the annual WSOP Main Event as well as all other tournaments under the WSOP banner, both in Las Vegas and at international locations.
Caesars Entertainment, which has owned and operated the WSOP since 2004, expressed confidence in the new owners’ ability to continue the tournament’s legacy of excellence. In a statement, Caesars CEO Tony Rodio said, “We are pleased to announce this historic agreement with Matt Savage and his team. We believe they have the vision and expertise to take the WSOP to new heights and ensure its continued success for years to come.”
The sale of the WSOP rights comes at a time of great uncertainty for the poker industry, with live tournaments having been severely impacted by the COVID-19 pandemic. The 2020 WSOP was postponed and ultimately held online, while the 2021 edition faced numerous logistical challenges and restrictions due to the ongoing public health crisis.
Despite these challenges, the WSOP remains one of the most prestigious and lucrative poker tournaments in the world, attracting thousands of players from around the globe each year. The Main Event, in particular, is known for its high-stakes action and million-dollar prize pools, making it a must-attend event for top players and amateur enthusiasts alike.
With the sale of the WSOP rights to Savage and his team, the future of the tournament looks bright. Savage, who is known for his innovative approach to tournament organization and his commitment to player satisfaction, has expressed his excitement about the opportunity to take the WSOP to the next level.
“I am honored and thrilled to be entrusted with the future of the World Series of Poker,” Savage said in a statement. “I am committed to upholding the tournament’s legacy of excellence while also exploring new ideas and initiatives to make the WSOP even more exciting and engaging for players and fans.”
The $500 million sale of the WSOP rights is expected to have a significant impact on the poker industry, with many experts predicting a new era of growth and innovation for the tournament. Fans and players alike are eagerly anticipating the changes and improvements that Savage and his team will bring to the WSOP, making this historic moment in the world of poker one to remember.
