Caesars Sportsbook Teams Up with the Cleveland Cavaliers Ahead of Sports Betting's Launch in Ohio

Rhea-AI Summary

Caesars Entertainment has announced a multi-year partnership with the Cleveland Cavaliers, designating Caesars Sportsbook as the team's 'Official Sports Betting Partner' and Caesars as the 'Official Casino Partner.' This collaboration includes the establishment of a new sportsbook at Rocket Mortgage FieldHouse, set to open by the end of 2022, pending regulatory approvals. The venue will feature betting windows, VIP experiences, and various amenities. This partnership aims to capitalize on the launch of sports betting in Ohio, enhancing customer engagement through Caesars Rewards and leveraging the Cavaliers' brand assets.

Positive

• New partnership enhances brand visibility and customer engagement in Ohio's sports betting market.
• Establishment of a retail sportsbook at Rocket Mortgage FieldHouse allows for year-round betting, attracting more visitors.

Negative

• None.

CLEVELAND and LAS VEGAS, Feb. 24, 2022 /PRNewswire/ -- Caesars Entertainment, Inc. (NASDAQ: CZR) ("Caesars") today announced a multi-year partnership with the Cleveland Cavaliers to make Caesars Sportsbook an "Official Sports Betting Partner" and Caesars Entertainment the "Official Casino Partner" of the team. This partnership includes plans to open a best-in-class retail sportsbook on the street level inside the Northwest Atrium area of the team's home venue, Rocket Mortgage FieldHouse, pending regulatory approvals.

"We're ready to welcome Ohio sports fans into the Caesars Sportsbook Empire, while also making history with our second sportsbook at an NBA arena," said Chris Holdren, Co-President of Caesars Digital. "Building upon our already established roots with Scioto Downs in Columbus, we're excited to announce our partnership with the Cavaliers at an exciting time in their franchise's history. As we prepare to launch sports betting in Ohio later this year, this wide-ranging partnership enables us to connect with the Cavs' passionate and highly engaged fanbase. Caesars Sportsbook at Rocket Mortgage FieldHouse will be a first-class venue providing an exciting atmosphere for sports betting and more."

Caesars Sportsbook at Rocket Mortgage FieldHouse will have betting windows for cash wagering and combine custom VIP and hospitality experiences for Caesars Rewards members, along with on-site activations throughout the year. The approximately 10,355 square foot venue will feature a full-service bar and VIP lounge, an extensive menu, and wall-to-wall TV's. The costs of these improvements will be paid for entirely by the Cavaliers and Caesars.

With construction starting soon, Caesars Sportsbook will be located on the street level inside the north atrium of the venue near the intersection of Huron Road and Ontario Street. The Sportsbook will be open year-round on both event and non-event days for both eligible fans with tickets to events and those without tickets who want to place wagers. Caesars Sportsbook at Rocket Mortgage FieldHouse is expected to be open by the end of 2022, subject to regulatory and other necessary approvals and further details and renderings will be announced at a later time.

In addition, Caesars Sportsbook gains access to the use of official Cleveland Cavaliers logos and marks, broadcast and digital content across Cavs properties, as well as TV-visible in-game signage.

Caesars Sportsbook made sports history with the first-ever sportsbook at a professional sports venue in May of 2021 at Capital One Arena in Washington D.C. and will soon be opening its doors to another Caesars Sportsbook at Chase Field in Phoenix, Arizona through a partnership with the Arizona Diamondbacks.

When mobile sports betting goes live in Ohio, sports fans will be able to download the Caesars Sportsbook app to make a bet anywhere in the Buckeye State. Caesars Sportsbook will have mobile market access via the Caesars Entertainment-owned Eldorado Gaming Scioto Downs Casino in Columbus. Caesars Sportsbook players can also earn Tier Credits and Reward Credits through the industry-leading customer loyalty program, Caesars Rewards, to unlock emperor-worthy experiences within the Caesars portfolio of properties and partnerships, including access to a wide range of hospitality assets and VIP experiences with the Cavaliers at Rocket Mortgage FieldHouse. 

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 1-800-522-4700. For more information, please visit. www.caesars.com/corporate. Must be 21 or older to gamble. Know When To Stop Before You Start.® Gambling problem? For help, call the Ohio Problem Gambling Helpline at 1-800-589-9966 or visit the Ohio for Responsible Gambling website at org.ohio.gov. 

ABOUT CLEVELAND CAVALIERS  
The Cleveland Cavaliers won the NBA Championship in 2016 while also taking the Eastern Conference crown in 2007, 2015, 2016, 2017 and 2018. The team plays at, and also operates, the newly transformed, publicly-owned Rocket Mortgage FieldHouse in downtown Cleveland, Ohio. The Cavaliers and Rocket Mortgage FieldHouse are part of Rock Entertainment Group. The Group also includes the Cleveland Monsters of the AHL, the Cleveland Charge of the NBA G League, Cavs Legion of the NBA 2K League, Legion Lair Lit by TCP home of Cavs Legion in Cleveland, and Cleveland Clinic Courts - the Cavaliers' training and development center in Independence, Ohio.  The Cavaliers are regularly recognized for their extensive community support and engagement programs and contributions, workplace diversity and inclusion leadership, and an on-going economic impact that now registers in the billions of dollars locally. Dan Gilbert is Chairman of the Cleveland Cavaliers. Gilbert and his family of companies have now invested over $2.0 billion in Cleveland. Gilbert is also Founder and Chairman of Rocket Mortgage, the nation's largest mortgage lender, and Founder and Chairman of Rock Ventures LLC, the umbrella entity for his portfolio of business and real estate investments. Len Komoroski is the Rock Entertainment Group CEO and Nic Barlage is the Rock Entertainment Group President and Chief Operating Officer. The Cavaliers team is led by General Manager Koby Altman and Head Coach J.B. Bickerstaff. The Cavaliers and Rocket Mortgage FieldHouse provide fans the best experience in the NBA with its extensive and stunning array of amenities and technology and signature, electrifying game presentation. 

About Rocket Mortgage FieldHouse:  
The newly transformed Rocket Mortgage FieldHouse is Northeast Ohio's premier sports and entertainment facility and major attraction for top-tier concert tours, family shows and signature events, as well as home to the Cleveland Cavaliers, Cleveland Monsters and the annual MAC Men's and Women's Basketball Tournament. Each year, Rocket Mortgage FieldHouse hosts more than 200 diverse ticketed events and 1,400 private events that draw over 2 million patrons to downtown Cleveland. Rocket Mortgage FieldHouse is established as a successful host site for high profile events of international and national scope, including the 2016 Republican National Convention, the 2007, 2015, 2016, 2017 and 2018 NBA Finals, as well as the recent 2021 Rock & Roll Hall of Fame Induction Ceremony and upcoming 2022 NBA All-Star Game. Other major upcoming events include the 2024 NCAA Division 1 Women's Basketball Final Four, 2025 Division I Men's Basketball First & Second Rounds and 2026 NCAA Division I Wrestling Championships. In Pollstar Magazine's 2021 Year-End Report of Top 200 Arena Venues Worldwide for Entertainment Ticket Sales, Rocket Mortgage FieldHouse ranked No. 27 worldwide in ticket sales for top touring attractions. Visit RocketMortgageFieldHouse.com. 

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/caesars-sportsbook-teams-up-with-the-cleveland-cavaliers-ahead-of-sports-bettings-launch-in-ohio-301489148.html

SOURCE Caesars Entertainment, Inc.

FAQ

What is the partnership between Caesars Entertainment and the Cleveland Cavaliers?

Caesars Entertainment has partnered with the Cleveland Cavaliers to become their 'Official Sports Betting Partner' and 'Official Casino Partner,' launching a sportsbook at Rocket Mortgage FieldHouse.

When will the Caesars Sportsbook at Rocket Mortgage FieldHouse open?

The Caesars Sportsbook at Rocket Mortgage FieldHouse is expected to open by the end of 2022, pending regulatory approvals.

What features will the Caesars Sportsbook include?

The Caesars Sportsbook will feature betting windows, VIP and hospitality experiences, a full-service bar, and numerous TVs for an engaging betting atmosphere.

How will this partnership benefit Caesars Entertainment?

This partnership will enhance Caesars' visibility and customer engagement in Ohio, especially with the upcoming launch of sports betting.

What is the significance of this partnership for Ohio sports fans?

Ohio sports fans will gain access to a state-of-the-art sportsbook venue, as well as the ability to place mobile bets across the state once sports betting goes live.