Protection against coronavirus is the top priority

The global poker scene is wondering whether and in what form the World Series of Poker (WSOP) will take place this year. In mid-February, a raffle on wsop.com provided hope. Shortly after, insider and poker player Kevin Kevmath Mathers explained that the world's most famous and prized poker tournament will return to Las Vegas as a live tournament in 2021.

Mathers has been in charge of the WSOP's social networks for the past few years, which is why his statements caused a stir. According to his own statements, he had spoken to a high-ranking WSOP manager that a live edition of the WSOP would take place, but at a later date than usual. The prerequisite is that the Covid-19 infection numbers in Nevada continue to improve.

However, WSOP boss Ty Stewart has taken the wind out of the scene again: In a statement, he stated that the time has not yet come to make concrete statements about the WSOP 2021. Whether the tournament takes place still depends on the restrictions of the states and the distribution of the vaccines. It is aware that many players and fans are expecting a comeback, but the safety of the players remains the top priority.

The World Series of Poker (WSOP) is the largest poker tournament series in the world and is traditionally held once a year over a period of one month at the Rio All-Suite Hotel and Casino in Las Vegas. The No Limit Hold’em variant is played in the main tournament and the buy-in is $10,000. The WSOP is considered the most prestigious poker tournament of all, and the winner can officially call themselves the poker world champion. Because of the Corona crisis, the WSOP 2020 was largely played online.

WSOP is looking for a new venue

The question of the future venue of the WSOP is causing further speculation, as in October Caesars sold the Rio All-Suite Hotel & Casino to Imperial Companies, a real estate group from New York City, for over 516 million US dollars. The establishment has been the venue for the WSOP since 2005. Caesars had agreed to operate the property for two more years at a rental rate of $45 million per year.

At the beginning of 2021, the contract for the casino sale will be enforced. Caesars now needs a new venue for the WSOP. There is currently no information about where the tournament will take place in the future. Management had stated that Caesars continues to hold all hosting rights to all WSOP tournaments starting in 2021. Maintaining the glorious tournament is a key factor in the company's agenda.

The legendary Rio All-Suite Hotel & Casino opened in 1990 just a few hundred meters off the Strip, primarily for locals. The two iconic hotel towers – Ipanema and Masquerade Tower – were completed in 1993 and 1997. The Rio offers 117,330 square meters of gaming space. In addition, the hotel only has suites, each of which is at least 55 square meters in size. Caesars took over the establishment in 1999, then under the name Harrah's, for around $888 million. The main theme of the resort was actually the Brazilian Carnival, but today it is primarily famous as a poker casino.

Hyatt takes over the Rio branding

A recent report now makes it clear to the scene that the WSOP will actually never take place at the Rio again: the new branding will be taken over by the Chicago-based hotel giant Hyatt. The group is planning a comprehensive renovation. The two towers of the Rio will become two separate Hyatt hotels. In addition, areas such as casinos and poker rooms will be renovated and renovated Rebranding subjected.

It is already clear that one of the towers will become a Hyatt Regency with 1,501 rooms. Another Hyatt luxury hotel is expected to be established in the other tower. However, the casino stronghold of Las Vegas is new territory for Hyatt. For this reason, the company has already signed a franchise agreement with the real estate development company Dreamscape, which will oversee the renovation of the Rio.

It remains to be seen whether the measures will be worthwhile for Hyatt Las Vegas is fighting for survival. The corona crisis has hit the former GLItzer metropolis badly. Casino and hotel occupancy is still below 50 percent. The crowds on the Strip are gone. It will likely be years before Las Vegas recovers from the damage caused by the crisis.

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Author: Alex Morgan