A committee of Louisiana lawmakers has approved Caesars Entertainment’s deal to obtain naming rights to the state’s Superdome, home of the NFL’s New Orleans Saints.
The stadium will become alternately known as the Caesars Superdome in a deal valued at around $138m, with the previous rights holders Mercedes Benz’s ten-year deal due to expire on 31 July. This will be the first casino naming rights deal for an NFL stadium, as while Hard Rock sponsors the Miami Dolphins’ stadium, it does so only as a hotel operator rather than a casino.
The agreement had to be approved in the state’s budget, however, but with the approval of the state’s Joint Legislative Committee on the Budget, it is not expected to face major opposition in the floor vote.
The Caesars deal comes into effect from August, and the twenty-year agreement will run through to the Saints’ 2041 season. The extended contract length is said to ensure the Superdome “maintains its level of expected revenue”.
ASM Global, managers of the Superdome, said: “Caesars is an international brand with a major presence in Louisiana. The Caesars Superdome represents the state of Louisiana’s most prominent sporting and multi-purpose event facility, which is also recognized around the world. Caesars will promote this
prominent facility in their marketing efforts and serve as a ‘brand ambassador’ for events hosted in New Orleans.
“The partnership does not simply stop at putting the name on the building, but instead, it will promote
further long-term business opportunities and events at the building and in the city of New Orleans that will in turn produce tourism tax benefits and economic impact to the city and state.”
After acquiring William Hill back in earlier this year, Caesars also signed as an official sportsbook partner of the NFL back in April.