The athletics department of Louisiana State University has signed a multi-year, seven-figure deal with Caesars Sportsbook, which will sponsor a new club space at Tiger Stadium.
The deal, which was facilitated by LSU’s multimedia rights holder Playfly Sports, names Caesars Sportsbook as the exclusive gaming and sportsbook partner of LSU Athletics.
LSU becomes the first state university in the Southeastern Conference (SEC) to sign a financial partnership with a gambling company. Financial terms of the deal were not disclosed but the Associated Press news agency reported that the agreement will be worth “multiple millions” of dollars.
Caesars’ deal will include naming rights for the new Caesars Sportsbook Skyline Club at Tiger Stadium, the 102,000-seat home of LSU’s American football team. Caesars will benefit from additional signage throughout the stadium, as well as signage at the Maravich Center basketball venue and Alex Box Stadium baseball facility, and an exclusive presence on the LSU Sports Mobile App.
Additionally, Caesars will receive broadcast and digital sponsorship rights, as well as visibility throughout all of LSU’s 21 men’s and women’s varsity athletics programmes. Caesars will also create an annual scholarship fund to support LSU students.
Caesars has committed to working with the Louisiana Association on Compulsive Gaming, regulators and the community to provide responsible gaming resources to all eligible sports bettors in the state. Once sports betting is approved in Louisiana, LSU Tigers fans above the age of 21 will be able to enjoy Caesars’ offerings.
Scott Woodward, LSU Athletics director, said: “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.”
Michael Schreiber, founder and chief executive of Playfly Sports, added: “As a proud partner of LSU Athletics, we are focused on creating innovative partnerships to engage sponsors and unlock meaningful new revenue sources. Given the explosive interest in and access to gaming, we are excited to responsibly bring Caesars Sportsbook and LSU together.”
The deal strengthens Caesars’ position in the state of Louisiana after the company recently acquired naming rights to the Superdome, home of the New Orleans Saints NFL team. The 20-year partnership was confirmed in July and is said to be worth $138m (£101m/€118m).
Last week, Caesars Entertainment signed a new deal with the NFL’s Indianapolis Colts to become a premier sports betting partner and the only casino partner of the team.