Caesars Entertainment has finalized the $500 million sale to GGpoker’s parent company as the shocking news that one of the biggest brands throughout poker would sell to NSUS Group Inc, a leading investment group.
Caesers Entertainment made the shocking announcement of their intention to sell back in August of this year and the deal officially closed on Tuesday, with the deal including a $250 million cash transaction and a $250 million promissory note due in five years.
The official announcement noted that several WSOP executives “will transition into key leadership roles” at NSUS and a newly formed WSOP subsidiary will see WSOP executive director Ty Stewart serve as executive officer and Vice President Gregory Chochton serve as chief operating officer, with WSOP Content Manager Erik Eidissen joining as a communications manager.
“With more than 30 years of combined experience managing the WSOP brand, these employees will lead the next phase of growth and integration under new ownership,” the company said in an official release.
“Under the new leadership, NSUS intends to expand WSOP worldwide, positioning it at the forefront of poker’s growth,” NSUS CEO Michael Kim said when the sale was initially announced back in August.
