Caesars Entertainment announced it will sell its intellectual property rights for the World Series of Poker brand to NSUS Group Inc., a leading investment group in the iGaming space known for successfully launching several groundbreaking ventures, including the innovative online poker room, GGPoker, Caesars said in a release Thursday.
The transaction, valued at $500 million, includes $250 million in cash and a $250 million promissory note due five years after the its closing date secured by the WSOP intellectual property assets being sold.
As a part of this transaction, Caesars has secured the right from NSUS to continue hosting the WSOP’s flagship live tournament series at its Las Vegas casinos for the next 20 years.
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