Caesars To Become Founding Partner of Raiders Stadium in Las Vegas
According to the Las Vegas Review-Journal, Caesars Entertainment has agreed to a 15-year deal to be one of the founding partners of the new football stadium in Las Vegas. Financial terms of the agreement were not disclosed, however.
As a founding partner, Caesars will have all sorts of influence in the venue, which will eventually be home to the Oakland Raiders. Per the Review-Journal, the deal will allow Caesars, which operates 9 casino properties in the Las Vegas area, to put their brand on the stadium’s entrance. Caesars will also have digital signage as well as the rights to player, cheerleader and alumni appearances in the future.
Raiders president Marc Badain said, “The Raiders are proud to welcome Caesars Entertainment as a founding partner of Las Vegas Stadium. 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.”
With this deal, Caesars becomes the first local casino company in Las Vegas to come to terms on an agreement with the Raiders. Some customers and Total Rewards loyalty club members will be offered exclusive experiences in connection with the team, as well. Some particularly wealthy members will be granted access to the Caesars-branded owners suite right at the 50-yard line. Things like VIP dinners and fantasy camps will also be offered.
Chris Holdren, the chief marketing officer for Caesars, said, “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.”
It’s been a busy week for Caesars, who also announced partnerships with the NBA’s Philadelphia 76ers and the NHL’s New Jersey Devils. This kind of deal has become popular since the Supreme Court’s decision to strike down the Professional and Amateur Sports Protection Act (PASPA) back in May. William Hill and MGM Resorts have also been aggressive in attempting to pursue deals with American professional sports leagues and teams. The NBA has a deal with MGM, while the Vegas Golden Knights are sponsorship partners with William Hill.
Last month, Caesars agreed to a sponsorship deal with the Baltimore Ravens. In September, the Dallas Cowboys announced a partnership with WinStar World Casino, which is located just a few miles north of Dallas in southern Oklahoma. Earlier this week, MGM struck a deal with the New York Jets. Expect more and more of these types of deals to keep coming down the pike as the NFL and other leagues around the country grow more comfortable with aligning with casino companies.
Because the SCOTUS struck down PASPA, states may now decide on an individual basis whether to legalize and regulate sports betting. New Jersey became the first state outside of Nevada to do so, while a number of others, including Mississippi and West Virginia, have followed. More states will do so in the months and years ahead.
The Raiders are slated to leave Oakland for their cushy new digs in Las Vegas ahead of the 2020 season. Of course, the team still has to figure out where it will be playing football next season, as their lease with their current home, the Oakland Coliseum, will expire at the end of this season. A few potential options are to share Levi Stadium in Santa Clara with the San Francisco 49ers, or use a local college venue like the ones at Cal or Stanford. Less likely options for the Raiders would be to head south and play in the Los Angeles Coliseum, the temporary home of the L.A. Rams, or Qualcomm Stadium in San Diego, which is the former home of the now-Los Angeles Chargers. Another potential option would be to move to La Vegas a year early and play at UNLV’s Boyd Stadium, which seats just 40,000 people.
The Raiders’ new venue, which opens in 2020, will ultimately cost just south of $2 billion to build.
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