Caesars NFL Deal Details
The NFL has added a new type of sponsor to their portfolio that quite frankly no one could have seen coming 2 years ago. Caesars Entertainment Corporation is now the “Official Casino Sponsor of the NFL”.
There’s not much about the deal that is public in terms of financials other than that it is a multi-year partnership deal.
“We couldn’t be more excited to work with one of the world’s largest gaming and entertainment companies,” said Renie Anderson, senior vice president, NFL partnerships, sponsorship and consumer products. “Combining the NFL with Caesars’ expertise in world-class entertainment will provide our fans unique experiences both here in the United States and abroad.”
In the press release given by the league, they mentioned that this was strictly for casino gaming, but Caesar’s is a company that is actively trying to infiltrate the sports betting market across the country.
Today, the @NFL selected Caesars Entertainment its first-ever casino sponsor! We will be the official sponsor of #SuperBowlLIII. We're excited to provide #NFL fans unique experiences at our properties across the US and UK. https://t.co/CavatBFlZn pic.twitter.com/GeklNzWPSh
— CaesarsEntertainment (@CaesarsEnt) January 3, 2019
However, other leagues do have deals with MGM and there is a specific sports betting component, so perhaps this is just a marketing deal.
The league had more to say about the deal:
Beginning with the upcoming 2019 NFL playoffs, this multiyear sponsorship is focused on Caesars providing unique experiences for NFL fans by using its casino properties, celebrity chefs, premier music artists and a wide range of entertainment elements.
Caesars will have the exclusive right to use NFL trademarks in the United States and the United Kingdom to promote Caesars casino properties and activate at key NFL events including the Super Bowl and NFL Draft.
Caesars Sports Betting Growth
As mentioned, Caesars has quite the handle on the sports betting industry, with locations already in New Jersey Sportsbooks and Mississippi, including NJ sports betting app and soon to be in Philadelphia. Considering that just a few years ago the league barred some NFL players from attending a fantasy football conference in Las Vegas, the NFL has seemingly come a long way on sports betting, and it should only get better over time.
Caesars has gambling properties in thirteen states, plus relationships with plenty of existing NFL teams. A few of which are in the postseason:
– Atlanta Falcons
– Baltimore Ravens
– Chicago Bears
– Indianapolis Colts
– New Orleans Saints
– Oakland Raiders
– Philadelphia Eagles
“All of us at Caesars Entertainment are thrilled to be the first-ever casino partner of the NFL, the most prominent sports league in North America,” said Mark Frissora, president and CEO of Caesars Entertainment. “Combining the league’s 180 million fans with our 55 million Total Rewards loyalty program members will expose millions of people to the exclusive and exciting year-round opportunities at our properties.”
Ceasars stock price saw a small move up on the news, but overall CZR has not performed well over the past year falling from $14/share to just above $7.
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