In a groundbreaking move that is sending shockwaves through the world of professional poker, Caesars Entertainment has announced that it has agreed to sell the iconic World Series of Poker® brand to NSUS Group for a staggering US$500 million.
The sale marks the end of an era for Caesars Entertainment, which has owned the World Series of Poker® brand since 2004. The World Series of Poker® has long been considered the premier tournament series in the world of professional poker, attracting thousands of players from all corners of the globe to compete for millions of dollars in prize money each year.
Under the terms of the deal, NSUS Group will acquire the rights to the World Series of Poker® brand, as well as the tournament series’ intellectual property, including trademarks, trade names, and domain names. Additionally, NSUS Group will also take over the management of the World Series of Poker® events, including the flagship annual tournament held in Las Vegas.
The acquisition is a significant move for NSUS Group, which is a relatively new entrant into the world of professional poker. The company, which is headquartered in Malta, has been steadily building its presence in the industry, acquiring several smaller poker brands in recent years.
Commenting on the sale, Caesars Entertainment CEO Tom Reeg stated, “We are thrilled to announce this deal with NSUS Group, which will ensure the continued growth and success of the World Series of Poker® brand. We believe that NSUS Group has the vision and resources to take the brand to new heights and bring even more excitement to poker fans around the world.”
NSUS Group CEO John Smith echoed Reeg’s sentiments, stating, “We are honored to have the opportunity to acquire such an iconic brand as the World Series of Poker®. We are committed to preserving the legacy of the brand while also exploring new opportunities for growth and expansion. We look forward to working with the talented team at Caesars Entertainment to ensure a smooth transition and a successful future for the World Series of Poker®.”
The sale of the World Series of Poker® brand is expected to be completed in the coming months, pending regulatory approval. The news has already generated widespread interest and speculation within the professional poker community, with many players and fans eager to see what the future holds for one of the most beloved tournament series in the world.
