A landmark deal
Caesars Sportsbook is now an official sponsor of Louisiana State University (LSU) Athletics. The two parties announced the multi-year agreement on Friday, which makes LSU the first school in the Southeastern Conference (SEC) to have a financial partnership with a gambling-related company.
no plans to have a sportsbook at LSU’s Tiger Stadium or at any other LSU sports venues
According to a source of The Associated Press, the deal will be worth millions of dollars to the university, though the two parties did not reveal any of the financial terms. There are also reportedly no plans to have a sportsbook at LSU’s Tiger Stadium or at any other LSU sports venues.
Caesars Sportsbook will have the naming rights to the Caesars Sportsbook Skyline Club at Tiger Stadium. It will also be able to have signage at the stadium, beginning this past Saturday with the team’s home game against Central Michigan. There will also be signage at the LSU baseball and basketball arenas, as well as being a part of the LSU mobile sports app. In all, Caesars Sportsbook will get brand visibility across all of the school’s 21 men’s and women’s sports programs.
Sharing a clear vision
As per a recent update to the national rules that govern college sports, college athletes are now able to profit from their name, image, and likeness without having any concerns for their eligibility. However, it is not yet clear if any LSU athletes who are not yet 21 years old will be able to take part in any Caesars Sportsbook advertising campaigns.
Talking about this new agreement was LSU athletics director Scott Woodward. He said: “We share a clear vision of how athletics and entertainment can come together to enhance the fan experience.”
In its statement announcing the deal, Caesars spoke about its commitment to “working with the Louisiana Association on Compulsive Gambling, regulators and the community to provide responsible gaming resources to all eligible sports bettors in the state.”
It has committed to not targeting fans or students who are not yet 21 years old or “highlight gaming offers inside campus facilities.” Caesars will also create an annual scholarship fund that will support local students.
Caesars has heavy presence in Louisiana
In addition to this deal with LSU, Caesars has a strong relationship with the NFL’s New Orleans Saints. It recently purchased the naming rights to the Superdome, the Saints’ home stadium. It is now called the Caesars Superdome.
Caesars Entertainment has also been expanding its presence in the state, including plans to conduct extensive renovations to the Harrah’s New Orleans casino. This property will also be renamed to Caesars New Orleans. The company will also change the Isle of Capri casino in Lake Charles to the Horseshoe Lake Charles.
Sports betting is now legal in 56 of the 64 parishes in Louisiana, but sportsbooks are yet to launch. The Louisiana Gaming Control Board is currently accepting license applications from interested parties. The initial aim was to have sportsbooks open in time for the start of the 2021 NFL season, but Hurricane Ida set back the review of applications. Caesars Sportsbook is one of the operators hoping to launch in the state.