Caesars Entertainment, Inc. 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. (“NSUS”), a leading investment group in the iGaming space known for successfully launching several groundbreaking ventures, including the innovative online poker room, GGPoker. 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 (the “Closing”) secured by the WSOP intellectual property assets being sold.

Kirkland & Ellis LLP provided transactional counsel and Latham & Watkins LLP acted as finance counsel to Caesars, while NSUS was represented by Greenberg Traurig, LLP and Borden Ladner Gervais LLP (BLG).

The deal is expected to close by the end of 2024.