Caesars Entertainment plans to sell WSOP brand due to financial problems

11 September 2012

In the end of last week, we read in PocketFives.com information that called us enough attention. Caesars Entertainment, the company that manages hotels in Las Vegas like the Rio, Caesars Palace and the Flamingo (among others), and also possesses the WSOP ® brand, might be considering selling the rights to the brand because of the financial problems is going through.

Caesars Entertainment shares traded on the NASDAQ Stock Market under the symbol "CZR" has plummeted in recent times. In April, its shares were trading at about $15 per share. Today, its valuation has fallen by more than half, paying about $7.18 per share, which is why even speculated that Ceasars can declare bankruptcy, as a temporary solution to this cataclysm.

This is the trend of the shares of CZR Over the last few months

Much of the future of the gambling colossus will go through what happens to the legalization of online poker in the U.S. Although right now, an estimated debt of Caesars Entertainment pass the 20 billion dollars, it is also true that, as the case of the online poker a reality in the United States, the WSOP ® brand is "one of the best brands in poker and game, and if legalized nationally, would certainly be one of the big winners", as noted Motley Fool (company that provides financial advisory services to media companies).

Reaching legalized online poker in the U.S., Ceasars has everything ready to be one of the first to begin offering service. His association with 888 in the UK would be the prelude to the two giants work together well in the land of the Stars and Stripes.

So, as you can see, not only the players are hoping that online poker is legalized in the U.S., but also many dormant companies with interests in this situation.

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