|In America, Harrah's Entertainment has announced that there will be no significant changes to its annual World Series of Poker (WSOP) tournament despite its imminent $17.5 billion purchase by Texas Pacific Group Capital and Apollo Management LP.|
Harrah’s hosts the annual poker tournament in Las Vegas and WSOP Communications Director Gary Thompson stated that the sale would not affect the competition’s brand and that the it would continue to be a showcase feature for the company going forward.
Thompson said that senior management would remain intact with Jeffrey Pollack serving as the competition’s Commissioner and Gary Loveman, Chairman and Chief Executive Officer for Harrah’s, remaining as an important member of the top team.
The WSOP became an asset for Harrah's following the gambling group’s purchase of Binion's Horseshoe in 2004. Although Harrah's subsequently sold Binion's to MTR Gaming Group it retained the rights to the WSOP.