The attached realm, this holding, and its defenders are immune to harmful events and offensive spells. If the Keep is discarded during battle but the realm isn't razed, the attacking champion may draw a card.
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TSR
Wizards of the Coast
Harmful events and offensive spells cannot target any realm with Hellgate Keep attached. This includes any cards attached to the realm besides just this holding, such as an artifact or ally. The immunity provided by this holding also covers any champion defending the attached realm in combat and that champion's attachments. Thus a champion defending a realm that has Hellgate Keep attached could not have its allies destroyed by the event Airship (118/4th).
The card provided by discarding Hellgate Keep is not considered spoils and may not be played unless the drawn card is one that may be played legally. If the attached realm is razed when Hellgate Keep is discarded the extra card for discarding it is lost.
Hellgate Keep is a great choice for a world war deck or any immune heavy theme, since it is one of the few cards that provide a realm with immunity to both spells and events. Some other cards with similar powers include Geneva Conclave (Promo 2), Moonwell (77/4th), The Deep (5/UD-chase) and The Gorgon's Crown (4/BR).
Despite the penalty of giving an opponent a possible extra card draw, this holding works very well in any deck with many Forgotten Realms realms.