The tournament will be held at the Rio All-Suite Hotel & Casino in Las Vegas on July 1, 2012 and intends to be structured as a three-day tournament. The event will have a limited capacity of 48 players. A percentage of each tournament buy-in (11.1%) will be donated to ONE DROP, with $889,889 going towards the prize pool. The tournament is expected to pay out 20% of the field, double the typical poker tournament payout structure, and is expected to generate one of the largest prize-pools in the tournament’s history. The winner of this event will receive a millionaire prize plus a specially-designed WSOP platinum bracelet. The event will be televised on ESPN as part of its coverage of the 43rd Annual World Series of Poker in 2012.
So far, 15 participants have committed to take part in this event, including Guy Laliberté, Chair of ONE DROP and Founder of Cirque du Soleil; Bobby Baldwin, four-time WSOP gold bracelet winner and President & CEO City Center Group; Phil Ruffin, Owner, Treasure Island Resort and Casino in Las Vegas; poker professionals Patrik Antonius, Gus Hansen, Daniel Negreanu, Johnny Chan, Tom Dwan and Tony Guoga.
Quebec’s Casinos and a European group will offer satellites to the event. In addition, Las Vegas casino and hotel operator and owner of the WSOP brand, Caesars Entertainment, intends to offer two additional entries though a Mega Satellite and a special promotion set to be announced in the coming weeks.
“We are proud to align the planet’s premiere poker event with the foundation created by one of our generation’s most creative entrepreneurs, Guy Laliberté, to help make the world a healthier place,” said Gary Loveman, Caesars Entertainment Corporation’s chairman, president and chief executive officer.