We knew a potential deal was in the works, and it was made official on Thursday night. After a record-breaking 2024 Main Event, GGPoker has bought the WSOP brand for a massive $500 million.
And we have questions.
1. Will GGPoker be a good custodian of the brand?
2. Is the $500 million price tag a good deal or a bad deal for GGPoker?
We also knew who we wanted to ask first, even if Daniel Negreanu, as a GGPoker ambassador, represents a slightly biased target. But Negreanu had clout with the WSOP before, and that will only increase now.
So what does he make of the news?
"I’m really excited to see this deal get to the finish line, as a lot has gone into it," Negreanu told us. "I think it really opens things up in terms of opportunities for growth both domestically and internationally."
The deal might not go through before WSOP Paradise in December, but Negreanu added that players can look forward to "a much improved [event], both from the tech side and the overall player experience."
So, the $500 million question. Is it a good deal for GGPoker at that price?
"I have no idea!" Negreanu said with a laugh. "I think the WSOP brand is the most valuable brand in poker, with unparalleled prestige and history on its side. How much is that worth? Half a billion seems reasonable to me."
We took the opportunity to ask the same questions to other prominent players. Here are their responses:
Brian Hastings: 6x WSOP bracelet winner
"Time will tell whether GGPoker will be a good custodian of the brand. In the short term, I don't anticipate much change from a player perspective. Certainly, they have done an impressive job growing their online poker site to where it is today.
"I don't have enough information to know if it's a good deal for GG, but it's certainly a logical acquisition strategically.
"I'm not going to Paradise. I would rather make the shorter trip to the Wynn [and the WPT World Championship."
Jamie Gold: 2006 WSOP Main Event winner
"From all that I've seen, GG has been a great partner for the WSOP. They want to grow poker and will put their money into it. The WSOP is such a valuable brand that it makes sense to want to buy it. I believe they will grow it well.
"I went to the Bahamas last year for their first Paradise event, and it was really impressive. I'm planning to be there again."
Matt Salsberg: 46 WSOP cashes
"I had heard rumblings about GG trying to buy WSOP for a while now, so I wasn't too surprised. I don't know much about their leadership team to form an opinion on whether they'll be good custodians, but it seems like they would probably try and keep the existing staff in place who know how to run it, but with a lot of input from their team pros like Daniel Negreanu, who will likely have many good improvements to suggest and implement.
"$500 million is probably a good deal for GG as the WSOP is definitely the most prominent poker series, although I do think WPT could compete with them or take over the summer series prestige if the WSOP somehow evaporates. I think there's enough of an appetite and a summer tradition now that all you need is a nice venue and the promise of large guarantees, and the people will come."
