Online Casinos might be bidding for the Internet WSOP
The World Series Of Poker has advanced a lot recently, as stated by the gaming industry experts. In fact, Harrah’s Entertainment is being pushed to give up a number of possessions in order to avoid bankruptcy and alleviate their liquidity issues. The wish of the online casino operators out there is that Harrah’s will decide to sell off its brand rights to the WSOP - World Series of Poker.
The WSOP brand has been under Harrah’s control since the day it got Binion’s to purchase the world’s top poker tournament. Nevertheless, the firm has never made use of its rights online, and doubts have been raised that an online poker room holding the WSOP logo would be a great outcome. Harrah’s is keen to hold these rights and to gear up its own internet casinos once the UIGEA is revoked, but the current financial situation may push them to sell out.
Moving the online licence of WSOP up for bid would definitely elevate the cash for Harrah’s without them having to give up the other hotel-casinos. At the moment rumour has it that the Rio All-Suite Hotel and Casino in Las Vegas might be on the market soon. Harrah’s official representatives’ focus is to avoid divesting the firm of more casinos.
Internet gambling sites would jump at the chance to take over control of the WSOP’s Internet usage. This would mean that any casino that is looking to expand into the poker field would have this top-known name in the business at its reach. Likewise, the established online poker websites yearn to block competitors from using this powerful brand against them, as well as using it to boost up their own existing identity.
If the income reported so far continues to leap down at Harrah’s casinos, the sale of their current assets to convert into cash will be obligatory. Harrah’s Entertainment showed a loss over $4 billion in their last quarter, that together with their debt payments on the bank loans. Hannah’s would hate to give up the WSOP online, but this may be hard to avoid at this point and circumstance.