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Caesars Entertainment announced Thursday it will be a founding partner of the Las Vegas Stadium, the eventual home of the Las Vegas Raiders.
The deal does not appear to include naming rights to the $1.8 billion stadium. Those rights are expected to generate a significant portion of the Raiders' contribution to the stadium cost.
“Sports have long been a core part of the Caesars experience,” Chris Holdren, chief marketing officer for Caesars Entertainment said in a statement. “With this deep partnership, Caesars will become an essential part of the game time ritual for Raiders fans everywhere.”
The Caesars-Las Vegas Raiders deal in focus
As part of the 15-year partnership, select Caesars customers and Total Rewards members will have some exclusive perks. A few of them include:
- Branded suite at the 50-yard line
- VIP dinners on the field
- Stadium tours
- Training facility events
Raiders president Marc Badain said the organization was proud to welcome Caesars as a founding partner.
“We are honored to align with a company that shares the Raiders’ values of improving the local community and delivering exceptional customer service in creating this transformative project,” Badain said.
Additionally, the casino giant will have a branded stadium entrance, digital signage, media, radio and print assets and alumni appearances.
The Las Vegas Raiders are expected to make the move to the 65,000-seat stadium in time for the 2020 NFL season. The stadium currently is under construction across from Mandalay Bay near the Las Vegas Strip.
The state of Nevada lured the Raiders from Oakland with a $750 million contribution of tax money toward building the new stadium.
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Similar partnerships
This is the second major partnership Caesars announced this week. Three days ago, the company inked a deal with the Philadelphia 76ers (NBA) and the New Jersey Devils (NHL). Josh Harris, the owner of the teams, also has minority ownership in Caesars Entertainment through his private equity firm Apollo Global Management.
These lucrative partnerships across three of the four major sports leagues will come with substantial cross-promotion, both on-site and across social media platforms.
First reported by SportsPro, the NHL deal will see the Caesars casino and sports betting app made available inside the new Caesars Club located inside the Prudential Center. That's where the Devils play their home games.
Future trends in partnership deals
It appears that gambling companies and sports teams partnering up will be the strategy moving forward.
Earlier this week the NHL announced that MGM Resorts would become its official sports betting partner. Forty-eight hours later, MGM announced itself as the “official gaming partner” of the New York Jets.
Several other sports/gambling deals materialized over the last few months:
- NBA + MGM
- Dallas Cowboys + WinStar World
- Vegas Golden Knights + William Hill
- New Jersey Devils + William Hill
- New York Jets + 888
The post Las Vegas Raiders Sign First Major Partner For New Stadium As Caesars Makes Another Sports Betting Deal appeared first on Legal Sports Report.
Original source: https://www.legalsportsreport.com/25461/las-vegas-raiders-stadium-caesars/
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