In a groundbreaking strategic move that has sent shockwaves through the world of professional poker, Caesars Entertainment has officially closed a $500 million deal to sell the iconic World Series of Poker brand to online poker giant GGPoker.
The World Series of Poker (WSOP) has been a staple in the poker community for over 50 years, hosting the most prestigious and lucrative poker tournament series in the world. Acquiring the brand will allow GGPoker to further solidify its position as a leader in the online poker industry.
The deal marks a significant shift in the landscape of professional poker, as GGPoker looks to expand its reach and appeal to a wider audience of players. With the WSOP brand under its belt, GGPoker will now have the ability to host online WSOP bracelet events, as well as leverage the brand’s immense popularity and history to attract new players to its platform.
“We are thrilled to announce the acquisition of the World Series of Poker brand,” said Dan Bilzerian, CEO of GGPoker. “This partnership represents a monumental step forward for our company, and we look forward to bringing the excitement and prestige of the WSOP to our players around the world.”
The sale of the WSOP brand comes at a time when online poker is experiencing a surge in popularity, as more players turn to online platforms to hone their skills and compete in high-stakes tournaments. With the global pandemic forcing the cancellation of live poker events, online poker has become the primary avenue for players to satisfy their competitive urges.
“We believe that GGPoker is the perfect partner to take the WSOP brand to new heights,” said Tom Reeg, CEO of Caesars Entertainment. “Their dedication to innovation and player experience aligns perfectly with our vision for the future of the WSOP.”
As part of the deal, GGPoker will also gain access to the WSOP’s extensive archive of historical data, which includes detailed records of every WSOP event and player since its inception in 1970. This valuable resource will allow GGPoker to create new and exciting events that pay homage to the storied history of the WSOP.
The sale of the WSOP brand to GGPoker represents a significant milestone in the evolution of professional poker, as online platforms continue to reshape the way players engage with the game. With the backing of GGPoker, the WSOP brand is poised to reach new heights and attract a new generation of poker players who are eager to test their skills against the best in the world.
