Caesars Entertainment Corporation (NASDAQ: CZR) announced Thursday that it had inked a landmark 15-Year partnership with Las Vegas Stadium, securing sponsorship rights with the -soon to be- Las Vegas Raiders when the team relocates from Oakland, California in 2020.
“The Raiders are proud to welcome Caesars Entertainment as a founding partner of Las Vegas Stadium,” Raiders President Marc Badain said in a?statement?released on Thursday. “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.”
Select customer perks:
The Raiders first deal with a gaming?company, the historic partnership with the member club of the National Football League’s (NFL) American Football Conference West division will provide “select customers” of Caesars Entertainment and Total Rewards members a variety of perks including access to:
- customized Caesars-branded Owners Suite at the 50-yard line of the Las Vegas stadium
- training facility events
- ?VIP Dinners on the field
- stadium tours
- fantasy camp participation
- tickets to home games and most stadium events.
Caesars essential part of the game:
Chief Marketing Officer for Caesars Entertainment Corporation, Chris Holdren, said,?“Sports have long been a core part of the Caesars’ experience. With this deep partnership, Caesars will become an essential part of the game time ritual for Raiders fans everywhere. From activations to exclusive experiences, fans of the silver and black will see Caesars as their home on game day.”
Owners approve move:
In March last year?at the annual league meeting in Phoenix, a 31-1 vote by NFL owners approved the Raiders relocation to?Las Vegas?after 45 seasons in the Bay Area.?The city of Oakland wanted to keep the team, which has been based in the East Bay region of the San Francisco Bay Area since 1960, only relocating to Los Angeles from Oakland in 1982, and then returning in 1995. However, a last-ditch effort by the city’s mayor, Libby Schaaf, and particularly because of a?$750 million public subsidy?from Las Vegas toward the new stadium, was too little too late.
Baltimore Ravens deal:
Courtesy of the partnership, Caesars will earn branded stadium entrances,?media, radio and print assets, digital signage, as well as?alumni, player and cheerleader appearances. The Raiders aren’t the gaming giant’s first NFL partnership, however, as the company via its Horseshoe Casino Baltimore?inked a multi-year marketing deal last month with another NFL team, the Baltimore Ravens.?The Ravens deal is Maryland’s only partnership between an NFL team and a casino.
PASPA serves as catalyst:
Just months after the Supreme Court?overturned a U.S. ban on states accepting bets on professional and college sports, early in September, Brian Rolapp, President and Chief Executive Officer of NFL Network and Executive Vice President of Media for the National Football League, revealed that the league’s longstanding ban against casino advertising would be lifted enabling land-based casino operators the opportunity to sponsor its team franchises during NFL 2018/19 games.
Dallas Cowboys led the charge:
The?Dallas Cowboys?and owner Jerry Jones were the first NFL team to take advantage?of the new lucrative sponsorship opportunity and just days after the announcement by Rolapp named the?Chickasaw Nation of Oklahoma-owned and operated?casino and resort?in Thackerville, Oklahoma the official casino of the team.