Kirkland 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.
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