Caesars lands betting deals with NBA and NHL teams

Caesars Entertainment has bolstered its position in the expanding legal sports betting market in the US by securing partnerships with the Philadelphia 76ers NBA basketball franchise and the New Jersey Devils NHL ice hockey team.

Both deals represent multi-year agreements for Caesars, which has a presence in a number of states that offer regulated sports wagering.

Philadelphia becomes the first NBA team to strike up an official partnership with a gambling company, following in the footsteps of the league itself, which agreed a deal with MGM Resorts in August. MGM last week also signed a similar deal with the NHL.

In terms of the Devils deal, ESPN reports that Caesars will have its own lounge inside the team’s Prudential Center home arena in an arrangement that would appear to be similar to what the franchise announced last week through its new deal with William Hill.

Both deals cover cross-platform promotion, including inside each of the team’s arenas and on social media. However, in-arena advertising will be restricted to non-sportsbook elements of the Caesars business.

American private equity investor Josh Harris owns both the 76ers and the Devils. Caesars and the teams are yet to confirm the details of the deals.

New Jersey was one of the first states to legalise sports betting after PASPA was withdrawn earlier this year, while Pennsylvania, where the 76ers are based, expects to launch its regulated market before the end of 2018 after passing the relevant legislation.

Caesars operates properties in New Jersey’s Atlantic City, which is close to both the 76ers’ and Devils’ home arenas.

A number of major league sports franchises have struck deals with gambling firms since the repeal of PASPA, including NHL team the Vegas Golden Knights with Hills.

Last month, the Dallas Cowboys also became the first NFL outfit to link up with a casino when it struck a partnership with the WinStar World Casino and Resort in Oklahoma.

Image: Keith Allison