Caesars inks sports betting deal with Madison Square Garden

New York’s Madison Square Garden Sports Corporation (MSG Sports) and Madison Square Garden Entertainment Corporation (MSG Entertainment) have announced a multi-year agreement with Caesars Entertainment.

This partnership comes after Caesars was one of nine operators to receive a mobile sports betting license in the state of New York.

Earlier this month, BetMGM also entered a sports betting partnership with MSG Sports and MSG Entertainment.

Caesars’ deal with MSG

Under the partnership, Caesars will become one of the official sports betting partners of the New York Knicks, New York Rangers. Caesars will also become an official partner of the Madison Square Garden Arena and MSG Networks.

As part of the deal, Caesars Sportsbook will gain a branded space within Madison Square Garden, which is undergoing a full refurbishment during the 2022-23 season.

The new space will be open during all Knicks and Rangers games and will be accessible to Caesars Reward program members.

Additionally, Caesars will gain media exposure through MSG Sports’ and MSG Entertainment’s platforms, and Caesars Reward program customers will be able to win at the stadium.

MSG Networks and Caesars Sportsbook will also team up to launch a new content series “One Course with JB Smoove”, through MSG Networks. The content series will feature Curb Your Enthusiasm star JB Smoove, who will play Caesar.

Ron Skotarczak, executive vice president of marketing partnerships at MSG Entertainment said: “We’re thrilled to welcome Caesars Sportsbook – a renowned brand in the sports betting industry– to the MSG Sports and MSG Entertainment families.

“Caesars Sportsbook is a key player in the growing world of sports betting – and we look forward to utilizing this partnership to further strengthen our brands’ connection with Caesars customers, while also providing the company with significant exposure across our unrivaled set of assets.”

“Caesars Sportsbook is ready for expansion into New York,” said Eric Hession, Co-President of Caesars Digital. “To partner with these legendary New York brands for compelling creative content and branding uniquely positions us to reach the avid sports fans in the region.”

Caesars wins New York mobile betting license

The deal between Caesars and Madison Square Gardens comes after the New York State Gaming Commission approved nine operators, including Caesars, for mobile betting in the Empire State.

The Commission recommended two bids for mobile betting licenses in New York, including the superbid from Bally Bet, BetMGM, DraftKings, and the primary applicant FanDuel was recommended by the Commission.

The other winning bid was led by B2B developer Kambi and a consortium of sportsbooks that include Caesars Sportsbook, PointsBet, Resorts World, Rush Street Interactive, and WynnBet.

The nine sportsbook operators will now be subject to a 51% tax on sports betting revenue and each license will last for 10 years, based on the tax rate.

The two successful bids managed to beat four other mobile sports betting proposals.

Kambi’s second bid with former FanDuel CEO Matt King’s new company Fanatics, and Penn National Gaming’s Barstool Sportsbook failed. The online betting giant Bet365, theScore, and Fox Bet all submitted individual sports betting license bids, but these were unsuccessful.