NFL Could Get $270 Million In Revenue from Sportsbook Deals
This week’s casino news has a laser-focus on Caesars Entertainment. The casino giant has been in the news thanks to all sorts of various deals, so let’s recap their latest moves.
NFL Could Get $270 Million In Revenue from Their Casino and Sportsbook Deals
The NFL could be on pace to bring in some monster cash before the end of 2021. Early estimations expect that the NFL could bring in $270 million in total revenue from their partnerships with sportsbook operators and a couple of casino companies. If you expand those estimations to the first decade, the NFL could see $1 billion worth of revenue. Keep in mind that not all states have legalized sports betting just yet, so that figure could be conservative.
The NFL has partnered up with Caesars Entertainment in a deal where they will now become the official casino sponsor of the league. The NFL has also grouped up with the sports betting giant DraftKings as their sportsbook partner.
Some NFL teams have even been softening their stance on sports betting and have made agreements of their own. The New Orleans Saints were able to get a 20-year, $138 million deal approved by Louisiana lawmakers that would allow Caesars to rename their stadium to the Caesars Superdome. The Houston Texans are another team that has a partnership with Caesars in a marketing type of deal even though you can’t legally place bets in the state of Texas. This is just the tip of the iceberg as many more deals like this are on the cusp.
Caesars Entertainment Partners Up With Fiesta Bowl
Caesars Entertainment continues to take advantage of sports betting being legalized around the country and they’re again expanding their footprint. The latest is that they have agreed to a deal with the Fiesta Bowl and are now going to be a partner of one of the biggest bowl games in college football.
The plan will be for them host fan lounges at both the Fiesta Bowl and the Guaranteed Rate Bowl (both bowl games are played in the state of Arizona) and will have Caesars featured in many ways. Anybody attending either of those games will have the opportunity to wager on the game they are watching through their mobile sportsbook too.
Sports betting became legalized this past year and all of the big players are locking in partnerships with content providers, sports franchises, influencers, bowl games and more. A lot of money is being thrown around and you can expect many other bowl games to get betting sponsors in the near future too.
Caesars Entertainment Inherits 24.5 Percent of NeoGames Stake
Sticking with Caesars, it turns out that their acquisition of William Hill had more positives than they could have expected. Alongside their hefty purchase, it was reported that Caesars now gets to own a 24.5 percent stake in the iLottery provider, NeoGames. Caesars stake in the company is worth approximately $258.44 million, which is certainly going to help them negate the $3.69 billion they spent to acquire William Hill in the first place.
NeoGames is currently operational in a couple of states already and has quite a lot of potential. New Hampshire, Virginia and North Carolina are all states in which they are operating in at the moment, but we could see them expand to Massachusetts, Ohio, Oregon, Missouri, Connecticut, Alaska and Maryland within the next couple of months. NeoGames is also servicing Alberta, Canada.
Caesars likely isn’t going to be handing out a ton of cash to NeoGames in order to fully invest into its future. Instead, they are probably going to try and recover financially from the William Hill purchase and slowly add onto their existing businesses. It’s a nice asset that Caesars got in the deal.