Caesars Sportsbook has expanded its reach across the state of Louisiana by becoming the official sportsbook partner of LSU Athletics, the company announced.
The multi-year deal is valued at “multiple millions” of dollars, a source told the Associated Press.
This is the second such partnership between a sportsbook operator and a collegiate athletics department, as PointsBet is an official sponsor of the University of Colorado. That five-year deal guarantees the school $1.6 million, Sports Business Journal reported.
Under its agreement with LSU, Caesars receives marketing and sponsorship opportunities, including naming rights at the Skyline Club at Tiger Stadium and signage at the stadium, Pete Maravich Assembly Center, and Alex Box Stadium. Signs were up at the football stadium in time for Saturday’s 49-21 win over Central Michigan.
The deal also includes broadcast and digital rights such as presence on the LSU Sports Mobile App and visibility with all 21 of LSU’s men’s and women’s athletics programs.
There are no plans for a sportsbook at any of the athletic facilities, per the AP report.
Caesars will also dangle tickets to LSU athletic events and VIP access at Tiger Stadium via the Caesars Rewards loyalty program.
Caesars also says it is committed to working with the Louisiana Association of Compulsive Gambling, state regulators, and the community on responsible gambling awareness and initiatives. The company vows not to market to students and fans under 21.
Additionally, Caesars plans to create a scholarship fund for Louisiana-resident students studying sports administration, commerce, and leadership.
“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,” Chris Holdren, Co-President of Caesars Digital, said in the press release announcing the deal. “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.”
Added LSU Athletics Director Scott Woodward, “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.”
Caesars In Louisiana
Caesars had already established a major presence in Louisiana, as the state prepares to launch legal sports wagering.
In July, the company’s 10-year naming rights deal at the Saints’ Superdome kicked in. SBJ reported the deal is worth $10 million annually, or $200 million over its length.
Caesars has also committed to renovations that will transform Harrah’s New Orleans to Caesars New Orleans and Isle of Capri Lake Charles to Horseshoe Lake Charles.