This Week in Gambling: WSOP sold, plus new Las Vegas poker room

Caesars Entertainment has sold the World Series of Poker to GGPoker. What does this mean for WSOP online poker, land-based poker rooms, and the live WSOP Tournament in Las Vegas each summer? Plus, we have a look at the renovated poker room at The Venetian Las Vegas.

Caesars Entertainment has agreed to sell the World Series of Poker brand and all of its intellectual property to the operator of GGPoker, the NSUS Group, for $500 million. The deal should be finalized before the end of this year and includes $250 million in cash and a $250 million promissory note payable five years after the deal closes.

Despite the sale, Caesars will retain the rights to host the annual World Series of Poker live tournament in Las Vegas for the next 20 years. Caesars Digital will also receive a license from NSUS to continue operating its WSOP Online real-money poker platforms in Nevada, New Jersey, Michigan, and Pennsylvania for the foreseeable future.

However, Caesars will be restricted from running online poker in other jurisdictions for a specified period of time, subject to certain exceptions. Additionally, Caesars physical poker rooms will maintain WSOP branding and will have preferential rights to host WSOP Circuit events.