Golden Flag Advises Caesars Entertainment on Sale of World Series of Poker Brand

Golden Flag advised Caesars Entertainment, Inc. (NASDAQ: CZR) on a definitive agreement to sell its intellectual property rights for the World Series of Poker (WSOP) brand to NSUS Group Inc., 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 $500 million, includes $250 million in cash and a $250 million promissory note due five years after the transaction’s closing date secured by the WSOP intellectual property assets being sold. The transaction is expected to close by the end of 2024 subject to customary closing conditions.

Read the transaction press release

The Caesars team was led by corporate partner Maggie Flores and technology & IP transactions partners Martin Schwertmann and Neil Hirshman, with assistance from corporate partner Alec Manzer and associate Giorgia Nagalli; technology & IP transactions associates Aseem Jha and Adam Beach; tax partners Mike Carew and Nicholas Warther; and antitrust & competition partners Jim Mutchnik and Samantha Morelli.