Caesars Entertainment revealed on the same day that its third-quarter financials were released that the projected $500 million sale of the World Series of Poker (WSOP) brand to GGPoker parent company NSUS had been completed.
The acquisition legally transfers the WSOP brand’s intellectual property rights to NSUS, although the connection with Caesars will continue for the foreseeable future, both in land-based and online poker.
For the next twenty years, the summer WSOP series will be hosted at a Caesars Las Vegas facility. Since moving from the Rio in 2022, the live event has been staged in the Horseshoe and Paris casinos.
In addition to hosting the live flagship series and having preferred access to live WSOP Circuit events, Caesars Digital will license brand rights from NSUS and continue to operate the WSOP Online poker sites in New Jersey, Nevada, Michigan, and Pennsylvania.
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Some of the core WSOP team will move to a new NSUS subsidiary, including Executive Director Ty Stewart, who will now be CEO. Stewart joined Caesars and the WSOP in 2005. Gregory Chochon, who has been with the WSOP since 2014, will serve as COO, while Erik Eidissen will be the communications manager.
The agreement does not specify how GGPoker intends to use the WSOP brand online in the rest of the world in the future. The brand, which has handled substantial WSOP satellites in recent years, has previously hosted an online bracelet series for the WSOP.
In Ontario, GGPoker runs the regulated market’s WSOP-branded site, WSOP.ca powered by GGPoker.
However, the GGPoker brand is powerful enough to overtake PokerStars as the world’s largest online poker site in 2022.
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