World Series of Poker to award trophy to $50,000 event champion in memory of 'Chip' Reese

"A true gentleman and the youngest person admitted to the Poker Hall of Fame, Chip Reese was recognized by his peers as the most successful player in the biggest mixed cash games of all time," Pollack said. "But he was also a great tournament player with three WSOP bracelets, including one for his historic victory in the inaugural $50,000 buy-in HORSE tournament in 2006.

"As a tribute to this great player who embodied the very best of our game, next year's $50,000 HORSE World Championship will be played in Chip's honor and memory," Pollack said. "And the winner will receive the 'David "Chip" Reese Award,' as well as a WSOP bracelet, to commemorate their achievement."

Harrah's Entertainment, Inc., which operates the WSOP through a subsidiary, is the world's largest provider of branded casino entertainment.