NSUS acquires World Series of Poker brand for $500Mn
ONTARIO, CANADA and NEVADA, UNITED STATES — Caesars Entertainment, Inc. has agreed to sell the World Series of Poker (WSOP) brand to NSUS Group Inc. for $500 million.
The deal includes $250 million in cash and a $250 million promissory note due in five years.
NSUS Group’s global expansion plans
NSUS Group is an IT firm that offers management consulting, business solutions, CRM, business intelligence, and outsourcing.
The company, which operates in the iGaming sector through its flagship GGPoker brand, is poised to expand the WSOP’s global presence. Specializing in investments, consulting and marketing, NSUS provides fun and entertainment to over 1 million players around the world.
Michael Kim, CEO of NSUS Group, emphasized the company’s commitment to enhancing the WSOP experience through innovative technology and strategic growth.
“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,” Kim stated.
NSUS has a strong foothold in the iGaming industry, particularly in Europe and Asia, where it has introduced poker innovations. The acquisition of the WSOP brand positions NSUS to further solidify its leadership in the global poker market.
Based in Toronto, Canada, NSUS has offices in Dublin, Malta, Isle of Man, Manila, and Seoul. NSUS Group has an estimated annual revenue of $27.8 million.
Caesars Entertainment’s continued involvement
Under the agreement, Caesars will retain the right to host the flagship WSOP summer series on the Las Vegas Strip for the next 20 years. The company will also continue to use WSOP branding in its brick-and-mortar poker rooms and maintain preferential rights to host WSOP Circuit events.
“We’ve enjoyed a longstanding and successful partnership with GGPoker that has helped spur the growth of the WSOP brand,” said Eric Hession, President of Caesars Digital.
“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.
The sale is expected to close by the end of 2024, subject to regulatory approvals and other closing conditions.
