Caesars Sportsbook and National Hockey League Renew Partnership

Rhea-AI Summary

Caesars Entertainment, Inc. (CZR) extends partnership with the National Hockey League (NHL) to include IP rights for League and team-inspired casino games, exclusive experiences for Caesars Rewards members, and more. The renewal agreement allows Caesars Digital to develop and promote NHL-branded iCasino games for its online platforms in North America, along with VIP experiences and visibility on national NHL broadcasts. This partnership aims to engage fans and provide unmatched experiences through Caesars Sportsbook and iCasino platforms.

Insights

Market Research Analyst

The extension of the partnership between Caesars Entertainment and the NHL is likely to bolster Caesars' competitive position within the sports betting and iGaming sectors. The inclusion of NHL-branded iCasino games could attract a niche audience of hockey fans to Caesars' platforms, potentially increasing user engagement and retention. This move also suggests a strategic focus on leveraging brand synergies to differentiate Caesars' offerings in a crowded market.

From a market research perspective, the integration of sports betting with unique customer experiences, such as VIP treatment and exclusive rewards, is a significant trend in the industry. This approach not only enhances customer loyalty but also drives cross-platform usage. The emphasis on responsible gaming is commendable and aligns with broader industry trends prioritizing consumer protection and ethical business practices.

Financial Analyst

The partnership renewal between Caesars Entertainment and the NHL could have positive financial implications for Caesars, particularly in terms of revenue diversification and market share growth. The ability to create NHL-branded iCasino games provides Caesars with a unique product offering that can differentiate its services and potentially command higher user acquisition and retention rates. The strategic use of the Caesars Rewards program to offer exclusive experiences can also lead to increased customer spend and loyalty.

Furthermore, the visibility of Caesars Sportsbook and Caesars Rewards during NHL broadcasts, especially during the high-traffic Stanley Cup Playoffs, could significantly boost brand recognition and customer acquisition. This kind of targeted marketing is likely to result in a more efficient customer conversion funnel. Investors should monitor user growth and engagement metrics following the implementation of these new offerings to assess the partnership's impact on Caesars' financial performance.

Legal Expert

From a legal standpoint, the partnership's extension underscores the importance of intellectual property rights in the sports betting and iGaming sectors. Caesars' access to NHL-owned intellectual property to create branded games is a strategic move that requires careful management of licensing agreements. It also highlights the legal complexities surrounding the use of team logos, imagery and league alumni in promotional materials and events.

Additionally, Caesars' commitment to responsible gaming and adherence to age restrictions reflects the increasing regulatory scrutiny within the industry. Ensuring compliance with gaming laws and regulations is critical to maintaining the integrity of the partnership and avoiding potential legal challenges. The company's proactive stance on responsible gaming could also serve as a model for the industry, potentially influencing future regulatory frameworks.

Partnership extension includes IP rights for League and team-inspired casino games across Caesars Digital iGaming platforms, exclusive experiences for Caesars Rewards members and more

LAS VEGAS--(BUSINESS WIRE)-- Caesars Entertainment, Inc. (NASDAQ: CZR) (“Caesars”) and the National Hockey League (NHL®) today announced a renewal of their United States partnership. The new, multiyear partnership extension retains Caesars’ status as a Sports Betting and Gaming Partner of the NHL and, for the first time, provides Caesars Digital with access to League-owned intellectual property to build and promote NHL-branded iCasino games for its online casino platforms in North America, including the recently launched Caesars Palace Online Casino.

This renewed agreement also provides access to VIP experiences for members of the industry-leading customer loyalty program, Caesars Rewards®, and opportunities for visibility for Caesars Sportsbook and Caesars Rewards on national NHL broadcasts of Stanley Cup Playoff games in select Caesars markets. Additionally, Caesars will enjoy continued use of NHL team logos and imagery on the Caesars Sportsbook app and access to League Alumni and the Stanley Cup® for appearances.

“With the defending Stanley Cup Champions residing in our home city of Las Vegas, we have a front-row seat to the excitement and passion that the NHL provides,” said Eric Hession, President of Caesars Digital. “This partnership extension with the League continues our efforts to build on that fan passion by bringing unforgettable experiences to all of our valued customers across both sports betting and online casino.”

“Since the inception of our partnership with Caesars, together we have focused on innovative ways to engage our passionate fanbase,” said Jason Jazayeri, NHL Vice President, Business Development. “We look forward to the next chapter of our relationship focused on delivering unparalleled access to our sport for NHL fans.”

Caesars Sportsbook and Caesars iCasino platforms tie the excitement of sports betting and online casino play to unmatched experiences via Caesars Rewards for users 21 and older. Every wager placed rewards the bettor with Tier Credits for status and Reward Credits that can be used to unlock world-class Caesars Rewards experiences and discounted getaways at Caesars Entertainment destinations across the United States and Canada.

As the largest casino-entertainment Company in North America, Caesars Entertainment is an industry leader in Responsible Gaming and shares in the NHL’s emphasis on Responsible Gaming education. The Company enforces an enhanced 21+ gaming policy that limits Caesars Rewards accounts to individuals over 21 and, where allowed by law, limits all domestic gaming, pari-mutuel, sports, and iGaming options to those 21 and older.

For real-time industry updates and to join the empire of like-minded Caesars, players can engage with the @CaesarsSports and @CaesarsiCasino social handles on X (formerly Twitter), Instagram, and Facebook.

NHL, the NHL Shield, and the word mark and image of the Stanley Cup are registered trademarks of the National Hockey League. © NHL 2024. All Rights Reserved.

About Caesars Entertainment, Inc.

Caesars Entertainment, Inc. (NASDAQ: CZR) is the largest casino-entertainment Company in the U.S. and one of the world’s most diversified casino-entertainment providers. Since its beginning in Reno, NV, in 1937, Caesars Entertainment, Inc. has grown through development of new resorts, expansions and acquisitions. Caesars Entertainment, Inc.’s resorts operate primarily under the Caesars®, Harrah’s®, Horseshoe®, and Eldorado® brand names. Caesars Entertainment, Inc. offers diversified gaming, entertainment and hospitality amenities, one-of-a-kind destinations, and a full suite of mobile and online gaming and sports betting experiences. All tied to its industry-leading Caesars Rewards loyalty program, the Company focuses on building value with its guests through a unique combination of impeccable service, operational excellence and technology leadership. Caesars is committed to its employees, suppliers, communities and the environment through its PEOPLE PLANET PLAY framework. Know When To Stop Before You Start.® Gambling Problem? Call or text 1-800-GAMBLER. For more information, please visit www.caesars.com/corporate.

About the NHL

The National Hockey League (NHL®), founded in 1917, consists of 32 Member Clubs. Each team roster reflects the League’s international makeup with players from more than 20 countries represented, all vying for the most cherished and historic trophy in professional sports – the Stanley Cup®. Every year, the NHL entertains more than 670 million fans in-arena and through its partners on national television and radio; more than 191 million followers - league, team and player accounts combined - across Facebook, Twitter, Instagram, Snapchat, TikTok, and YouTube; and more than 100 million fans online at NHL.com. The League broadcasts games in more than 160 countries and territories through its rightsholders including ESPN, TNT Sports and NHL Network in the U.S.; Sportsnet and TVA Sports in Canada; Viaplay in the Nordics, Baltics, Poland and the UK; MTV3 in Finland; Nova in Czech Republic and Slovakia; Sky Sports and ProSieben in Germany; MySports in Switzerland; and CCTV5+ in China; and reaches fans worldwide with games available to stream in every country. Fans are engaged across the League’s digital assets on mobile devices via the free NHL® App; across nine social media platforms; on SiriusXM NHL Network Radio™; and on NHL.com, available in eight languages and featuring unprecedented access to player and team statistics as well as every regular-season and playoff game box score dating back to the League’s inception, powered by SAP. NHL Productions develops compelling original programming featuring unprecedented access to players, coaches and League and team personnel for distribution across the NHL’s social and digital platforms.

The NHL is committed to building healthy and vibrant communities using the sport of hockey to celebrate fans of every race, color, religion, national origin, gender identity, age, sexual orientation, and socio-economic status. The NHL’s Hockey Is For Everyone® initiative reinforces that the official policy of the sport is one of inclusion on the ice, in locker rooms, boardrooms and stands. The NHL is expanding access and opportunity for people of all backgrounds and abilities to play hockey, fostering more inclusive environments and growing the game through a greater diversity of participants. To date, the NHL has invested more than $100 million in youth hockey and grassroots programs, with a commitment to invest an additional $5 million for diversity and inclusion programs over the next year.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240307745373/en/

Brad Harwood, bharwood@caesars.com

Dominic Holden, dholden@caesars.com

Brad Klein, bklein@nhl.com

Source: Caesars Entertainment, Inc.

FAQ

What is the ticker symbol for Caesars Entertainment, Inc.?

The ticker symbol for Caesars Entertainment, Inc. is CZR.

What does the partnership extension between Caesars and the NHL include?

The partnership extension includes IP rights for League and team-inspired casino games, exclusive experiences for Caesars Rewards members, and visibility on national NHL broadcasts.

What can Caesars Digital do as part of the renewed agreement with the NHL?

Caesars Digital can access League-owned intellectual property to build and promote NHL-branded iCasino games for its online platforms in North America.

How does the partnership benefit NHL fans?

The partnership aims to engage NHL fans by providing unforgettable experiences through Caesars Sportsbook and iCasino platforms.

What age restrictions does Caesars Entertainment enforce for gaming?

Caesars Entertainment enforces an enhanced 21+ gaming policy that limits gaming options to individuals over 21.