Caesars agrees to sell World Series of Poker brand to NSUS for $500M

Caesars Entertainment announced the signing of a definitive agreement to sell its intellectual property rights for the World Series of Poker, WSOP, brand to NSUS Group Inc. The transaction, valued at a total of US$500 million, includes US$250 million in cash and a $250 million promissory note due five years after the transaction’s 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. Caesars Digital will also receive a license from NSUS to continue operating its recently upgraded WSOP Online real-money poker business in Nevada, New Jersey, Michigan, and Pennsylvania for the foreseeable future but 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.