NSUS Group is now one of the world’s largest poker powerhouses
Caesars Entertainment has completed the sale of the World Series of Poker (WSOP) to NSUS Group Inc., marking a significant shift in the poker industry. The $500 million deal, announced as finalized on October 29, transfers one of the most recognized poker brands globally into the hands of a new owner. The transaction includes a $250 million cash payment, with the remaining $250 million structured as a promissory note set to mature in five years.
Today, we announced the closing of the previously announced sale of our intellectual property rights for the World Series of Poker brand to NSUS Group Inc. As previously disclosed, the transaction includes US$250 million in cash and a $250 million promissory note due five years… pic.twitter.com/jrOCiCLphq
— Caesars Entertainment (@CaesarsEnt) October 29, 2024
The WSOP, a staple in poker for over five decades, will maintain its annual summer series in Las Vegas under the new ownership. According to the agreement, Caesars properties will continue to host WSOP-branded poker rooms, ensuring players and fans still experience the same iconic branding across various venues. This continuity appears to be part of a broader vision to keep the tournament series rooted in its Las Vegas legacy while bringing new leadership into the fold.
Several key WSOP executives will transition to leadership roles within NSUS’s newly formed WSOP subsidiary. Among these transitions, Ty Stewart, who has long served as WSOP’s executive director, will assume the role of executive officer. Gregory Chochton, previously WSOP Vice President, will take on the role of chief operating officer, while Erik Eidissen will bring his expertise as the communications manager.
The sale’s completion represents a major change for Caesars Entertainment, which had owned WSOP for nearly two decades. Now, with the tournament series under NSUS, fans and players alike can expect fresh management but steady continuity in WSOP’s long-standing traditions.
