WSOP Finalizes $500 Million Sale to GGPoker Parent Company
Level 24
: 250,000/500,000, 500,000 ante
Caesars Entertainment has finalized the $500 million sale of the biggest brand in poker to GGPoker's parent company, according to an announcement in late October.
Back in August, Caesars Entertainment shocked the poker world when it announced that it would be selling World Series of Poker (WSOP) to NSUS Group Inc, a leading investment group and operator GGPoker. The deal was solidified Tuesday and includes a $250 million cash transaction and a $250 million promissory note due in five years.
Though the WSOP sale marks a shakeup in the industry, poker players can still expect the summer WSOP to be held in Las Vegas for the next 20 years. Additionally, poker rooms at Caesars properties will continue to feature WSOP branding.