Last Monday, September 23, 2019, a historic event for the entire poker community took place. On this day, the US Securities Commission officially announced that it had given permission to sell the famous gambling establishment.
Now the owner of Rio Caesars Entertainment, the name of this casino for documents, has become a company Imperial Companies, based in New York and specializing in real estate. The deal amounted to 516.3 million dollars.
Nevertheless, in the next two years, the former owner, that is, Caesars, will manage the gambling house. For this, she will pay the new owner a rent, which is set at $ 45 million per year.
According to Caesars CEO Tony Rodio, the sale of the casino is due to the need to consolidate funds to put in order the Las Vegas Strip complex previously acquired by the company. This will subsequently increase profits and create a new point of attraction for players.
As for the World Series of Poker, in the near future no changes are expected. Since Caesars is the owner of all WSOP rights, it will be held at Rio for at least the next two years.
This was also confirmed by Seth Palansky, who is vice president of the World Series of Poker: the venue remains the same. And the sale of a casino does not mean at all breaking up with the series, so the poker community can not worry about this.