BREAKING NEWS: GGPoker Buys World Series of Poker for $500 Million; WSOP to Remain in Vegas for 20 Years
Caesars Entertainment has today announced that they will be selling the iconic World Series of Poker Brand will be sold to NSUS Group Inc, a leading investment group and operators of leading online poker room GGPoker.
According to a press release, the deal is set to be worth $500 million — $250 million in cash and a $250 million promissory note “due five years after the transaction’s closing date.
The release also states that Caesars have secured the rights to continue hosting the WSOP’s flagship live tournament series at its Las Vegas properties for the next twenty years. Caesars can also still use the WSOP branding at its brick-and-mortar poker rooms, and Caesars destinations will continue to enjoy “preferential rights” to host WSOP Circuit events in the future.
WSOP Set to “Expand Worldwide”
As part of the announcement, Michael Kim, Chief Executive Officer of NSUS Group Inc, said that after collaborating with Caesars Entertainment for years, NSUS Group Inc was thrilled to announce their new role.
“We will leverage GGPoker’s cutting-edge technology and industry expertise to create an exciting future for WSOP, ensuring players have an increasingly improved, safe, and seamless poker experience.
“Under the new leadership, NSUS intends to expand WSOP worldwide, positioning it at the forefront of poker’s growth.”
The World Series of Poker already has a long history of international expansion, starting first with the introduction of WSOP Europe in 2007 and the WSOP APAC in 2013 and 2014.
Most recently, the Bahamas hosted WSOP Paradise for the first time in 2023. Less than a month ago, it was announced that the festival will return to the Caribbean in December this year.
This story is breaking and will be updated shortly
Based in the United Kingdom, Will started working for PokerNews as a freelance live reporter in 2015 and joined the full-time staff in 2019. He now works as Managing Editor. He graduated from the University of Kent in 2017 with a B.A. in German. He also holds an NCTJ Diploma in Sports Journalism.
FAQ
Is Chinese poker the same as poker?
Is Chinese poker the same as poker? Chinese poker is a card game in the poker family that plays quite differently from traditional game variants that most poker players are familiar with (like Texas Hold’em). Each player gets 13 cards in a game of Chinese poker, and is tasked with making two five-card hands and a three-card hand.
How do you become a WPT player?
How do you become a WPT player? Players can qualify for the WPT at the local casino where the event is held. In addition, online poker operators including partypoker offer satellites to many WPT events. Players can also qualify for free via the Club WPT app and will be able to qualify in the future at WPT Global.
How many decks are used in poker?
how many decks are used in poker? In most popular poker variants, such as Texas Hold’em and Omaha, a standard deck of 52 playing cards is used. Each deck contains four suits (hearts, diamonds, clubs, and spades) and consists of 13 ranks (Ace, 2 through 10, and the face cards: Jack, Queen, and King). However, it’s important to note that the number of decks used in poker can vary depending on the specific game or variation being played. For example, some poker tournaments or cash games may use multiple decks to speed up the gameplay or reduce the frequency of card shuffling. In such cases, it is common to use two or more decks that are shuffled together.
What forms of payment are accepted on WPT Global?
What forms of payment are accepted on WPT Global? Players can use a range of payment methods (depending on region) including Visa, bank transfer, NETELLER, Skrill, and cryptocurrencies such as Bitcoin, Ethereum, Litecoin and more via Coinspaid and Coindirect. Other methods include (available in some regions): Interac, Muchbetter, PIX, Boleto, Ecopayz, Astropay, and Luxon.
Are WPT Global deposit or withdrawal fees?
Are there deposit or withdrawal fees? No, WPT Global does not charge fees for depositing or withdrawing.
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