Caesars Entertainment is a global gambling provider, owning and operating 40 different properties in 13 states. When PASPA was repealed, Caesars was expected to act swiftly and get a lion’s share of legalized US sports betting. And so they did. Currently, Caesars Sportsbooks are at the following locations:
Another property in Mississippi, Tunica Roadhouse, is expected to soon provide MS sports betting as well. Caesars Entertainment is on the verge of opening another sportsbook in Pennsylvania, where PA sports betting just became legal.
The casino chain hasn’t wasted any time in expanding its betting portfolio. And judging by the Q3 report Caesars released recently, US sports betting does wonders for the enterprise’s revenue.
Apart from the direct revenue sports betting brings, other income channels prosper indirectly from it too. For instance, all Caesars’ restaurants and bars located in the vicinity of a sportsbook have accounted for an increase between 10 and 20 percent in clients and orders.
Caesars also decided to experiment and opened a non-traditional sportsbook. They rebranded the TAG Sports Bar at The Linq Casino in Las Vegas and turned it into a restaurant-bar-sportsbook hybrid. Called simply “The Book,” visitors can watch sporting events, order delicious food and beverages, as well as place bets all in the same place. Clients can even reserve ‘Fan Caves’ to serve as their private living rooms. Since the rebranding, The Linq is reporting a 100% increase in the consummation of meals and drinks.
That success is a good argument for Caesars planning of new NJ sportsbooks and a Mississippi sportsbook. Currently, in construction, these sportsbooks are expected to be large-scale properties, able to accommodate quite a large number of people. The launch date is set in the first months of 2019.
NJ online sports betting is also benefiting Caesars’ business in more than one way. The Caesars sports betting app has integrated Caesars Loyalty Total Rewards system, as well as Caesars Online Casino. Since the launch of the mobile sports betting service in September, the online casino has seen an increase of 20 percent compared to the same period last year.
Signing partnerships with professional sports teams shows that Caesars is heavily investing in the niche and are thinking globally. These type of deals don’t bring a direct return, but they do help raise brand awareness and incept their name into the minds of sports fans.
Caesars Entertainment recently signed sponsorship deals with the Philadelphia 76ers and New Jersey Devils. Caesars is also the first Founding Partner of the currently constructed Las Vegas Stadium. Once finished, the arena will host the home games of NFL’s Las Vegas Raiders. The stadium is expected to be ready in 2020.
All sports teams in which Caesars Casino is partnering with are located in states where the gaming entertainer has a strong presence. This is no coincidence, as Caesars Entertainment long-term goal is to become a synonym for sports betting wherever it is legal.
The entertainment world is evolving. Borders are being broken and concepts are blurring. Restaurants and sports bars are transforming into sportsbooks and sportsbooks are transforming into restaurants and sports bars. Casinos must adapt to this evolution or risk becoming an outdated form of entertainment.
It looks like Caesars is having the right idea with their hybrid settings. The casino provides more than sports betting, it provides a sporting experience, a chance for the fan to be more connected with his or her’s favorite sport. And they can do that in a pleasant and suitable atmosphere at Caesars Sportsbooks.
The new sponsor deals are also a call in the same direction. While Caesars-branded establishments at the sports team properties won’t offer direct betting services, they can act as a reminder to sports fans where they can place a bet if they ever feel the desire.
And while the casino enjoys the benefit of a broader exposure, the sports teams also profit, directly from the sponsor money and indirectly with the new technology being implemented into the game. More statistics, better analysis and more integrated fans are all factors that will help bring sporting events into a new future.