Caesars Entertainment Signs Agreement to Sell WSOP IP to NSUS Group
Caesars Entertainment has entered into a definitive agreement to sell its intellectual property rights for the World Series of Poker (WSOP) to NSUS Group, an investment group known for its ventures in the iGaming sector, including the online poker room GGPoker. The $500 million deal comprises $250 million in cash and a $250 million promissory note due five years after the transaction’s closing date. This note will be secured by the WSOP intellectual property assets being sold.
Despite this sale, Caesars will retain the rights to host the WSOP’s flagship live tournament series at its Las Vegas casinos for the next 20 years. Additionally, Caesars’ brick-and-mortar poker rooms will continue to feature WSOP branding, and Caesars properties will have preferential rights to host live WSOP Circuit events in the future.
Caesars Digital will also receive a license from NSUS to continue operating its WSOP Online business in Nevada, New Jersey, Michigan, and Pennsylvania for the foreseeable future. However, Caesars will be restricted from operating real-money peer-to-peer online poker operations elsewhere for a specified period.
The sale is pending customary regulatory approvals and other closing conditions but is expected to close before the end of 2024. This transaction builds on the existing partnership between Caesars and GGPoker, promising to expand the WSOP brand globally. NSUS Group CEO Michael Kim highlighted their intent to leverage GGPoker’s technology and industry expertise to enhance the WSOP experience and expand its global reach.
New Zealand to License Online Casinos in Landmark Regulatory Move
In a landmark decision aimed at minimizing harm, supporting tax collection, and providing consumer protections, the New Zealand government announced plans to license online casinos. According to Minister of Internal Affairs Brooke van Velden, a regulatory framework is expected to be in place by early 2026. A limited number of licenses will be available and allocated through an auction process, with each license lasting three years, contingent on operators meeting all regulatory requirements.
Licensed operators will be permitted to advertise within strict limits but will not be allowed to provide sponsorship. The licenses will only cover online casino games, excluding sports betting or lottery products. This move aims to regulate the online casino market to ensure consumer protection and harm minimization while ensuring operators contribute to tax revenues.
Minister van Velden emphasized that licensing would regulate online casinos similarly to other forms of gambling in New Zealand. The goal is not to increase gambling activity but to ensure operators adhere to strict standards for consumer protection and harm minimization. The new regulatory system will be implemented from early 2026, with the public given an opportunity to provide feedback during the Select Committee process. The Department of Internal Affairs will act as the regulator once the system is established.
SkyCity Entertainment Group, New Zealand’s only land-based casino operator, has long advocated for regulated online gaming. The company, which operates SkyCity Online Casino via a Malta license, expressed support for the regulation of online casino gaming in New Zealand, emphasizing the importance of host responsibility and community benefits. Further details on the regulatory framework are expected to be announced later this year.
