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GGPoker Acquisition of WSOP Finalised For A Staggering Amount

More details about the deal in which GGPoker acquired the World Series of Poker brand are now online. GGPoker will own the World Series of Poker brand and the financial components have been revealed. While the actual deal announcement will be sometime in August, Caesars Entertainment, the company that owned the WSOP brand, has announced more details about the deal.

A social media post by Caesars said that they would be parting with their iconic brand for $500 Million to NSUS Group Inc., for $250 Million in cash and $250 Million in promissory notes.

Caesars Entertainment provides information on WSOP brand Sale

Today, we announced the closing of the previously announced sale of our intellectual property rights for the World Series of Poker brand to NSUS Group Inc. As previously disclosed, the transaction includes US$250 million in cash and a $250 million promissory note due five years… pic.twitter.com/jrOCiCLphq

— Caesars Entertainment (@CaesarsEnt) October 29, 2024

Along with the financial aspects, the post also reveals some key points that ensure both brands will remain in the poker business for most of the near future. To begin with, the flagship WSOP live tournament will be held at Caesars Casino in Las Vegas for 20 years. Caesars has also recieved a licence from NSUS Group to operate the WSOP Online real-money poker business in Nevada, New Jersey, Michigan, and Pennsylvania for the ‘foreseeable future’.

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This is truly one of the game-changing aspects for the poker industry, with two of the biggest brands now working with each other. While WSOP is famous for its various online and live series, GGPoker is the industry leader and hosts some of the most iconic online poker tournaments. GGPoker and WSOP earlier collaborated in 2020, when the WSOP Super Circuit Online Series debuted on the global-facing GGPoker Network, allowing players to compete for WSOP bracelets online, marking a significant shift in the poker industry. With a broad range of games, tournaments, and promotions, GGPoker appeals to both beginners and professionals, positioning itself as a global poker leader.

With WSOP acquired by GGPoker, it opens up several new avenues for poker players all around the world. With the live poker behemoth and the monster among online poker organisers, it becomes easier for players to connect and play the WSOP brand with them being online.

The World Series of Poker (WSOP) is the largest, most prestigious poker tournament series, held annually in Las Vegas since 1970. It attracts top players globally, competing across various poker variants like Texas Hold’em and Omaha. The main event, a $10,000 No-Limit Hold’em tournament, awards a multimillion-dollar prize and the coveted gold bracelet, poker’s ultimate symbol of skill.

With over 100 events, WSOP includes tournaments for different buy-ins and styles, catering to both professionals and amateurs. Recently, the WSOP has expanded online, allowing broader access. Its global appeal continues to grow, making it poker’s premier competitive showcase.

GGPoker is a major online poker platform that was launched in 2017 and is known for its innovative approach to online poker. It quickly gained popularity with unique features like “Smart HUD” for player statistics, “PokerCraft” for tracking gameplay, and interactive options like “emotes” to enhance the player experience.

Gutshot Magazine provides all the information and updates about the poker industry, from updates about poker series to interviews with some of the most exciting names in the industry to government regulations that might impact the real-money gaming industry.

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