GGPoker buys WSOP...
GG I guess!
first thing they should do is change that horrible software and switch to gg software for the online site
thats gonna be tricky if not impossible.
I think GG would have a hard time getting approved by US regulators with all the black and grey markets they operate in.
Stars (and party to less of an extent) had to sacrifice so ****ing much to appease NJ regulators
So is cheating-enthusiast Jack Effel now an employee of GG Poker?
caesars pocketed $500m and retained all the parts of WSOP brand that matters to it for 20 years? would say wp but caesars stock is down 6% so maybe i'm missing something
caesars pocketed $500m and retained all the parts of WSOP brand that matters to it for 20 years? would say wp but caesars stock is down 6% so maybe i'm missing something
Maybe those are investors who don’t understand poker and how the WSOP operates and makes money. They just think they’re not involved anymore and dumped their shares.
Or it could be that we don’t understand how the WSOP operates and makes money so it doesn’t make sense to us.
From my understanding, Caesar’s made a heck of a deal.
I expect some things will change, some will stay the same.
-Room promos will probably be reduced, as the hotels/parent will no longer receive a benefit from guest entry fees.
-Event "fees" will almost certainly go up to pay for leasing of space, and to cover for operation changes due to the new two-party arrangement .
-GG will be able to dictate their own rules as they see fit. For example, they may desire their VIPs to be eligible for discounted buy-ins to events based on their activity on GG online. Basically free-rolling if GG does not cover their buy-in.
-I presume GG will own all of the WSOP IP. Unless contractually obligated, GG will be free to manage this IP as they see fit. For example requiring paid subscription to GG or affiliated sites to get current event information, as well as historical information.
-GG may decide to forgo leasing of selected space, for example Normandy/Provence satellite rooms, for whatever reason (e.g. they deem it unprofitable).
-I suspect there will be an increase of online events, and possibly a decrease of live events to compensate for cost of leasing space.
-I am unclear how the tournament area cash game space will be accommodated. I assume that the Horseshoe poker room will be unaffected.
-Do players need to worry about GG comingling event prize funds with other areas of GG? I doubt this was ever a concern with Caesars previously running the show, but fiscal responsibility will now fall on GG.
-I suspect concern will increase in the WSOP community that GG may not be able to satisfactorily manage the events. (FWIW Caesars did not do a great job in this area, but 2024 seemed to be a well run series IMO, except ME "cheating").
Gg soon creating a monopoly
caesars pocketed $500m and retained all the parts of WSOP brand that matters to it for 20 years? would say wp but caesars stock is down 6% so maybe i'm missing something
Maybe those are investors who don’t understand poker and how the WSOP operates and makes money. They just think they’re not involved anymore and dumped their shares.
Or it could be that we don’t understand how the WSOP operates and makes money so it doesn’t make sense to us.
From my understanding, Caesar’s made a heck of a deal.
Yea, you missed a horrible day for the market in general. Lots of stocks ate it today.
Rough day for the gambling sector. Wynn, MGM, Boyd, and Sands also tanked.
CZR gapped upward Wednesday after their earnings report said that their 2Q24 loss was smaller than 2Q23's. Yesterday's loss still left it better off than Tuesday. (Trading so far today has it down more.)
IMO, Caesars didn't charge NSUS enough for the sale.
Other possible outcomes:
-Benefits for Caesars Rewards Platinum+ members may be reduced. Instead, GG may provide service benefits to GG VIP customers.
-I will be interested how security is managed. I'm guessing GG will contract that out to Caesars to make it as seamless as possible. Maybe not.
-As GG will have an incentive to reduce usage of leased space, the likelihood of event buy-ins going up should increase. Fewer players, less space, same (or perhaps more) rake.
-Will there be an increase of 10 player tables?
-Who will be responsible for recruiting dealers? As it seems GG has no expertise in this area, they may contract this out to Caesars as well. With that in mind, Caesars may have little/no incentive to recruit and/or train competent dealers, as dealer proficiency no longer affects Caesars' bottom line.
Nick Jones, co-founder of both Pokerfuse and Poker Industry PRO, posted this thread to the social media site formerly known as Twitter this morning: https://twitter.com/pokerprojones/status....
Cliffs: It's about GGPoker getting into the US online poker market.
They are taking that "active leadership role" with this deal. This is the deal they wanted. Caesars remains the "operator" so that this deal (which they hope to close by end of year) passes regulators. But GG gains a foothold. ...
This would give GGPoker the control it wants for the US online poker experience, without the regulatory approvals of full interactive gaming licenses in every state.
Jones also discusses the possibility that WSOP.com will switch to the GG software -- after 2026, when WSOP.com's agreement with 888 Poker expires.
Jones does not touch upon the question of why GGPoker/NSUS bought the entire World Series of Poker brand rather than simply its use online. My own (IANAL) guess would be along the lines that trademarks might not be able to be split in half.
GG should benefit immediately from the solid earnings provided by WSOP live events. How soon GG becomes a substantial online presence in US remains to be seen, as WSOP online is not a big earner.
Nick Jones, co-founder of both Pokerfuse and Poker Industry PRO, posted this thread to the social media site formerly known as Twitter this morning: https://twitter.com/pokerprojones/status....
Cliffs: It's about GGPoker getting into the US online poker market.
Jones also discusses the possibility that WSOP.com will switch to the GG software -- after 2026, when WSOP.com's agreement with 888 Poker expires.
Jones does not touch upon the question of why GGPoker/NSUS bought the entire
Alright, yeah, that makes sense that they have a US online plan. Sounds like it’s still a bit of a gamble but if it goes their way, they’d profit pretty darn big from it.
Very bad news for poker IMO! GGPoker needs to die. Even having WPN be the leading poker network would be better than GG.
I did read (not sure if that's the same article I read) that Caesars retained the right to run WSOP Online in the USA, so that's good. It does say that they're doing it with a license from NSUS - hopefully that means rake will remain as it is.
Solve for Why Podcast talking about this starts around 1 hour in.
If you want actually useful information like a timestamp, it is 1:02:05.
Online sites are a license to print money. They are all just horribly mismanaged or purposely pilfered into dust.
GG has proven they can successfully run a site. They might even push for expansion
It would be nice if they offered bracelet events on ClubGG so people like me living in countries where real money poker is illegal could play for one without going overseas.
So now the WSOP will be run like GG with anything goes cheating maybe superusers.
I suspect we have seen the peak of live WSOP.
I wonder if we'll start to see more hybrid tournaments, ones that start online, run there until the money bubble breaks, and then go live for the few days needed to finish. A hybrid format eases the logistics of running massive field sized events, and would save money on the live overhead.
I wonder if we'll start to see more hybrid tournaments, ones that start online, run there until the money bubble breaks, and then go live for the few days needed to finish. A hybrid format eases the logistics of running massive field sized events, and would save money on the live overhead.
That would be the slow death of live WSOP, I’d guess vast majority of live WSOP attendees have no interest in being holed up in their rooms playing online poker by themselves. There’s a subset of online guys that are ok with that. Just my opinion.
That would be the slow death of live WSOP, I’d guess vast majority of live WSOP attendees have no interest in being holed up in their rooms playing online poker by themselves. There’s a subset of online guys that are ok with that. Just my opinion.
Agree. I haven't missed a WSOP summer since 2003, but if GG tries to turn the WSOP into some sort of online hybrid, I'll find some other way to spend my summer.
