Caesars Entertainment has finalised the sale of its intellectual property rights for the World Series of Poker (WSOP) brand to NSUS Group, the parent company of GGPoker.
The transaction has been closed for the previously reported $500m price tag, which equates to $250m in cash and a $250m promissory note due five years after the transaction’s closing secured by the WSOP intellectual property assets being sold.
While Caesars has sold WSOP to NSUS, the operator will continue its relationship with the poker brand for several more years, both in a land-based and online manner.
Through the deal, Caesars’ Las Vegas casinos will retain the right to host the flagship WSOP live tournament series for the next 20 years. The live event has been hosted in the Horseshoe and Paris casinos since it moved from the Rio in 2022.
In addition, Caesars Digital will receive a licence to continue operating WSOP online for the foreseeable future in Nevada, New Jersey, Michigan and Pennsylvania.
However, the operator did note that it “will otherwise be restricted from operating online peer-to-peer real-money poker operations for a specified period of time and subject to certain exceptions”.
Caesars’ brick-and-mortar poker rooms will continue to feature WSOP branding, while the operator’s destinations will also have preferential rights to host live WSOP Circuit events.
Several WSOP executives will also now take on leadership roles within the NSUS structure, bringing more than 30 years of combined experience to help lead the brand through its next phase under the new ownership.
Ty Stewart has been named the CEO of the newly formed WSOP subsidiary, Gregory Chochon has been appointed as Chief Operating Officer and Erik Eidissen has joined as Communications Manager.
Back in August, NSUS Group CEO, Michael Kim, commented on the deal, noting that the group intends to expand the poker brand worldwide.
“After collaborating with Caesars Entertainment for years, NSUS Group, the operators of GGPoker, is thrilled to announce their new role in leading the WSOP, the world’s most renowned poker brand,” stated Kim.
“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.”
Eric Hession, President of Caesars Digital, said: “We’ve enjoyed a longstanding and successful partnership with GGPoker that has helped spur the growth of the WSOP brand.
“This transaction is an exciting step for Caesars as a company and the WSOP brand as it continues to evolve. We can’t wait to see what NSUS has in store for growing the WSOP’s legacy in poker, and we look forward to continuing to deliver an unmatched and familiar experience to poker players going forward.”
Italian casino operator Replatz has bolstered its user experience with the launch of OKTO’s digital wallet solution OKTO.WALLET.
As a result of the deal, the OKTO.WALLET will be available for Replatz players in Italy, a digital payment method that can be integrated as an option for withdrawals and deposits.
Dante Micucci, Country Manager Italy at OKTO, said: “This collaboration with Replatz exemplifies OKTO’s dedication to delivering secure and compliant payment solutions that elevate the user experience. We are glad to support Replatz in enhancing payment convenience and accessibility.”
Italy serves as the latest European country OKTO has integrated its gaming payment solutions after the firm launched into Germany and the Czech Republic this year.
OKTO previously bolstered its presence across the Italian market, having landed a partnership with Microgame.
In September, Galina Bineva, Commercial Director of OKTO, discussed OKTO’’s Latin American ambitions with Payment Expert.
Bineva stated: “Brazil’s regulatory transition is a pivotal moment, and our 360-degree approach in the region ensures that our merchant partners are well-prepared for the challenges ahead.
“One of our key offerings in Brazil is our solution for transitioning balances from the pre- to post-regulation environment. This smooth transition is vital for operational continuity, financial planning, and maintaining an optimal user experience.”
She also revealed how the firm adapts to changing regulatory frameworks, adding: “As regulatory frameworks continue to open across Latin America, processing payments across borders while ensuring compliance is a key focus for us. OKTO’s approach is built on deep, ongoing collaboration with local legal and compliance experts in each market. We actively monitor the evolving regulatory landscape, enabling us to tailor our solutions to the specific requirements of each jurisdiction. Navigating multiple regulatory environments is a dynamic challenge, but it’s one we are well-prepared for.”
“Our payment infrastructure is designed to be flexible and adaptable, ensuring seamless transactions while adhering to local laws. By implementing robust KYC procedures, anti-money laundering (AML) protocols, and real-time risk and fraud monitoring, we ensure full regulatory compliance for our operator partners.”
