GGPoker’s parent company acquires WSOP from Caesars

GGPoker’s parent company, NSUS Group Inc., purchased Caesars Entertainment’s intellectual property rights for the World Series of Poker (WSOP) for $500 million.
NSUS will pay an initial $250 million and the remaining amount five years later. However, even after this sale, Caesars has agreed to be responsible for organizing the yearly tournament in Las Vegas for the next two decades as well as continuing to hold circuit events under its brand name within their casinos.
Additionally, they are set to run WSOP Online in Nevada, New Jersey, Michigan, and Pennsylvania except that other forms of online gambling would be subject to certain limitations.
NSUS CEO Michael Kim said in the release:
“After collaborating with Caesars Entertainment for years, NSUS Group, the operators of GGPoker, is thrilled to announce their new role in leading the World Series of Poker, the world’s most renowned poker brand. 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.”
This is not a new partnership. Previously, the World Series of Poker and GGPoker have collaborated to host international qualifications for WSOP events.