GGPoker Buys World Series of Poker for $500 Million; WSOP to Remain in Vegas for 20 Years
Level 18
: Blinds 5,000/10,000, 10,000 ante
Caesars Entertainment has announced that they will be selling the iconic World Series of Poker brand to NSUS Group Inc, a leading investment group and operator of leading online poker room GGPoker.
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", according to the press release.
The sale comes off the back of the largest WSOP Main Event in history and less than four months before the return of WSOP Paradise to the Bahamas.