WSOP Moving to Caesars

[CincyLady]

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I heard the WSOP was being sold.

Very credible source who happens to be involved with the group buying it. I was kind of skeptical but some of the people are very high profile and they definitely have the money.

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If this is true, I sure hope to gawd it's a group of people who will treat it with better respect than Harrah's has.

[toutatis70]

I really appreciate all the info. I have been spending alot of time at the Rio recently and have been quite discouraged at the Amazon room and all the service and management of it. Thanks so much

[woodguy]

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Jack Binion will buy the Rio and the WSOP assets. This is of course the rumor that everyone is most excited about, especially poker players. But truth be known, now that the WSOP is so huge I don't know if Jack would run it any better than Harrah's, so even if this rumor becomes fact we all might be in the exact same position next year at the 08 series.

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I think that the biggest potential money maker for whoever owns the WSOP brand is the internet poker room potential.

When online poker becomes fully "legal", the new fish will move to recognizable brand names quickly and I think the WSOP brand will be the most powerful.

I wonder if the private equity firms have a handle on those potential revenues, and what the present value of it is? I kinda doubt since there are a lot of "ifs", but I think the value is there......

Regards,
Woodguy

[Lord_Strife]

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I really appreciate all the info. I have been spending alot of time at the Rio recently and have been quite discouraged at the Amazon room and all the service and management of it. Thanks so much

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You and everybody who has entered the Rio up to and including customers, employees, locals, governers, etc

[CanIPlayII]

Of course the private equity firms are taking the Internet into account. The Sands is also being bought out.

[*TT*]

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I think that the biggest potential money maker for whoever owns the WSOP brand is the internet poker room potential.

When online poker becomes fully "legal", the new fish will move to recognizable brand names quickly and I think the WSOP brand will be the most powerful.

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The problem is poker wont be fully legal the way you want it to be in the US anytime soon. Gambling will always be controlled at the state level, and gambling across state lines will only be permitted via state compacts when all is said and done. Its highly unlikely the feds will permit a different model from the existing horse racing/lottery model. The sooner we collectively get our heads out of the sand and start to push for a realistic solution that Congress can get behind the better off we will be.

The WSOP can start a foreign online poker room today and it would be legal (there is some gray area over foreign gambling laws still and UEGIA might be applied improperly through overzealous enforcement, but MGM and WPT have already tried this with some minor success). WSOP can currently legally operate an online poker room in the state of Nevada. The could also go to any other state and operate sister rooms provided they abide by the state laws. The downside is that if WSOP/Harrah's gets licensed to operate in Nevada and California (just an example), they literally have to operate two autonomous poker rooms with separate player bases as per federal law.

[rpr]

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partially correct rumor. Lets fix it.

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This is not the rumor I was referring to.

It's a group buying a casino and they are trying to buy WSOP. And it's not a rumor, just a plan.

[*TT*]

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partially correct rumor. Lets fix it.

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This is not the rumor I was referring to.

It's a group buying a casino and they are trying to buy WSOP. And it's not a rumor, just a plan.

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You better tell that Group that Appolo Capital and Texas Pacific are in line first, they are awaiting regulatory approval in some markets (I recalled that they already received approval in Vegas but i cannot find any links), the investors have already approved the deal - its one of the largest leveraged buyout deals in history. - link

[NCAces]

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The reason they hold it at the RIO (from what I can tell anyway) is that it's off the strip and is much more easily accessible.

If they moved it to Caesar's, do you realize what a NIGHTMARE it would be to get to, park, get out of, etc.?

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I don't live in Vegas, but just got back from a short trip there, and this line of reasoning makes no sense to me. First, the size of the WSOP versus all the other conventions is actually small. I don't have numbers, but I would guess there are a number of other conventions going on at the same time as the WSOP that have similar if not greater impact on the Vegas economy. Other conventions are held at Caesars and elsewhere without/or in spite of logistical problems.

Second, it would be much easier to get to Caesars ... you could walk and/or monorail from a ton more hotels than you can now. If you aren't staying at the Rio or the casino next door, your in a taxi with little other alternatives. I suppose driving to the Rio might be easier, but don't most WSOP players not have a car in Vegas?

NCAces

[rpr]

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You better tell that Group that Appolo Capital and Texas Pacific are in line first, they are awaiting regulatory approval in some markets (I recalled that they already received approval in Vegas but i cannot find any links), the investors have already approved the deal - its one of the largest leveraged buyout deals in history.

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Uhhh ok. I'm talking about them buying WSOP, not Harrah's. Like Admo said, he's willing to bet Harrah's doesn't own WSOP next year. The group I'm talking about has the money to buy WSOP but not Harrah's.

Also thanks for fixing my rumor with news that is 7 months old that doesn't even apply to what I'm talking about.