The US gambling giant Caesars has announced a sports betting partnership with Louisiana State University (LSU).
This is the latest partnership between a commercial sports betting company and a collegiate sports organization in the US.
Caesars’ deal with LSU
Caesars Sportsbook is set to make a significant push into Louisiana’s sports betting market after announcing a partnership with LSU last week.
According to the announcement, Caesars will become LSU’s “exclusive gaming and sportsbook partner.”
The deal was negotiated by LSU’s third-party rights holder, Playfly Sports, which had alumni and fan engagement in mind.
Caesars Sportsbook will benefit from a “multitude of marketing and sponsorship assets from LSU Athletics.”
These assets include naming rights for the new Caesars Sportsbook Skyline Club at Tiger Stadium and signage throughout Tiger Stadium beginning on Saturday 18 September for LSU’s matchup against Central Michigan.
On top of this, Caesars will benefit from signage at the Pete Maravich Assembly Center, Alex Box Stadium and an exclusive presence on the LSU Sports Mobile App.
The deal also includes broadcast and digital sponsorship rights for Caesars Sportsbook across all of LSU’s 21 men’s and women’s sports programs.
On top of this, Caesars Sportsbook customers will have opportunities to attend LSU athletic events and access VIP hospitality at Tiger Stadium through the Caesars Rewards program.
Chris Holdren, Co-President of Caesars Digital said: “LSU Athletics programs have always exemplified excellence, and at Caesars, we couldn’t be happier to partner with such an iconic brand in college athletics. We have a proud legacy in Louisiana, and bringing LSU fans and alumni closer to the sports they love while also offering scholarship opportunities will help us build upon that.”
LSU Athletics Director Scott Woodward said: “LSU has always taken pride in providing fans with unique, innovative, and world-class experiences, and our new partnership with Caesars Entertainment will do just that. We share a clear vision of how athletics and entertainment can come together to enhance the fan experience, and we are excited to join with Caesars to make that vision a reality.”
Michael Schreiber, Founder & CEO of Playfly Sports said: “As a proud partner of LSU Athletics, we are focused on creating innovative partnerships to engage sponsors and unlock meaningful new revenue sources. Given the interest in and access to gaming, we are excited to responsibly bring Caesars Sportsbook and LSU together.”
Caesars’ commitment to Louisiana sports betting
Caesars appears to be making a significant push into the Louisiana sports betting market.
At the time of writing, the US gambling giant has said it plans to make significant investments in its three Louisiana properties, which include Harrah’s New Orleans, Isle of Capri Lake Charles, and Horseshoe Lake Charles.
The operator also secured naming rights to the Superdome, where the New Orleans Saints are based, as well as several college football games.
Sports betting and college sports
The deal between Caesars and LSU marks the latest deal between a sports betting firm and a collegiate sports organization.
Earlier this month, Superbook announced a deal with the University of Denver.
Last month, Caesars partnered with the Fiesta Bowl, marking the operator’s second partnership with a sports entity in Arizona. The partnership with the college football game was on top of Caesars’ market access agreement with the Arizona Diamondbacks.
Back in September 2020, the Australian operator PointsBet announced a partnership with the University of Colorado, marking the first deal between a sportsbook operator and a college sports team.
Sports betting in Louisiana
Louisiana has made quick progress on sports betting in recent months.
During the November 2020 election, Louisiana voters in 55 of the state’s 64 parishes decided to approve sports betting. In June 2021, the state’s governor John Bel Edwards signed three pieces of legislation into law that were required to get sports betting off the ground.
In late August, the state regulator approved emergency rules for sports betting. Then, last Thursday, the Louisiana Gaming Control Board (LGCB) finalized permanent rules for sports wagering in the state.
The state has 20 land-based and riverboat casinos that could apply for a sports betting license. Each licensee can operate up to two skins for mobile sports betting in the state.
At the time of writing, at least eight of the state’s 20 potential licensees have applied for sports betting licenses. According to a USA Today interview with LGCB chairman Ronnie Johns last week, the state’s betting market could go live as soon as 1 October.