In a landmark move, Caesars Entertainment officially closed the sale of its World Series of Poker (WSOP) brand to NSUS Group, the parent company of GGPoker, on October 29th, 2024.
The transaction, which was initially announced in August, includes a $250 million cash payment and a $250 million promissory note due in five years. This sale marks a significant shift in the poker landscape, handing one of the world’s most celebrated poker brands to new owners.
The transition of the WSOP brand to NSUS Group represents a turning point for poker’s largest event series. Known for its historic moments and high-stakes action, the WSOP has thrived under Caesars’ ownership, particularly in recent years. Now, as it moves into the NSUS portfolio, poker fans and industry insiders are left to wonder: what’s next for this iconic brand?
WSOP to Remain in Las Vegas for 20 Years
One key aspect of the agreement is that the WSOP will continue to be hosted in Las Vegas at Caesars properties for at least the next 20 years. This means poker’s most prestigious tournament will remain rooted in its spiritual home, keeping the tradition alive for at least two more decades. Caesars will also retain its right to brand its poker rooms with the WSOP name and will continue hosting WSOP Circuit events at its various locations.
In the online arena, Caesars will continue to operate WSOP Online in regulated U.S. markets such as Nevada, New Jersey, Michigan, and Pennsylvania. However, the deal restricts Caesars from venturing into other online peer-to-peer poker operations, with some limited exceptions.
Key Executives Move to NSUS for Continued Growth
As part of the transition, several longtime WSOP executives will assume leadership roles within NSUS. Ty Stewart, a familiar face in the poker world, will become the Chief Executive Officer of the newly created WSOP subsidiary.
Gregory Chochon, known for his involvement in the series, steps in as Chief Operating Officer, while Erik Eidissen takes on the role of Communications Manager. Together, they bring more than 30 years of WSOP experience to NSUS, ensuring that the brand remains in capable hands as it enters this new chapter.
The WSOP’s Recent Growth
The sale comes during a period of unprecedented growth for the WSOP. Following the pandemic, the series expanded its reach, largely due to its collaboration with GG. This partnership brought about global WSOP Online events, increased online satellites, and new tournament formats like Flip & Go and Mystery Bounty, appealing especially to recreational players.
In 2024, the WSOP broke records with a staggering 136 live events in the Las Vegas series alone, generating an impressive $480 million in prize pools. This expansion demonstrates the brand’s growing popularity and robust participation, hinting at the scale that NSUS Group might aim to maintain — or even surpass.
Phot Credit: Rachel Kay Winter and Omar Sader
What Could the Future Hold?
With NSUS Group — formerly known as GGNetwork Software Limited — now at the helm, the future of the WSOP looks ripe for further expansion. NSUS already oversees several popular brands like ClubGG and SlotsVenture, giving it the resources and reach to bring WSOP events to an even broader audience. However, some players remain cautious, noting that global expansion often comes with increased costs. The WSOP Paradise in the Bahamas, for instance, introduced higher rake, hinting at what might come as the series continues to grow internationally.
For fans and players alike, this change in ownership is more than just a business deal — it’s a potential shift in the global poker ecosystem. As the WSOP becomes further embedded in the NSUS portfolio, the poker community will be watching closely to see how the new owners balance growth with the brand’s rich tradition.
One thing is certain: the WSOP’s journey is far from over, and the next chapter promises to be an intriguing one.
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