With sports betting set to come to the state of Louisiana in the near future, Caesars Entertainment is looking to make a big splash in the state. Caesars has agreed to a deal with the New Orleans Saints for the naming rights to the stadium.
The Caesars Superdome will be the official name of the stadium for the next 20 years after a committee in the state legislature signed off on the agreement. Both Caesars and the Saints came to an agreement early on in 2021, but it required approval from the state.
According to the announcement, Caesars will pay the team close to $138 million over the next 20 years. The Saints have already announced a new $450 million renovation project, and this money will go directly to funding those efforts.
Mercedes-Benz was the previous company that had naming rights of the stadium, but that deal came to an end in July. Now that this deal is official, it marks the first time that an NFL stadium has given naming rights to a casino company.
All of this rebranding will be done prior to the start of the 2021 season, but work will still be going on throughout the season.
Plenty of Marketing Options
Caesars is already one of the top gaming companies in the United States, but it wants to become the clear leader in the state of Louisiana. Caesars owns and operates the Harrah’s Casino in New Orleans, and the company has planned a renovation worth more than $300 million.
The famous logo of Caesars will be visible both inside and outside of the stadium, and other signage will be found throughout the stadium. Caesars uses a specific font with its logo, and all of those features will be included when the rebranding is complete.
Even though the Superdome will now be tied to a gambling company, the NCAA is still expected to use the Caesars Superdome for major events.
A 2021 Launch in Jeopardy?
When voters across the state of Louisiana approved sports betting in November 2020, it seemed as if Louisiana could be one of the first states to launch in 2021. There were already some things in place for a potential launch, but the state is still without any sports betting options.
Sports betting regulations in Louisiana have been slow to develop, just as it was when the state attempted to launch Daily Fantasy Sports. The state is still hoping to launch sports betting by the start of the 2021 NFL season, but time is running out for that to become a reality.
Saints Betting Odds
The New Orleans Saints are expected to drive sports betting in the state, but this could be a tough season for the team. Quarterback Drew Brees is no longer with the team after retiring, and the Saints are in a difficult NFC South Division.
The Tampa Bay Buccaneers are the big betting favorites to win the NFC South Division at -195. New Orleans is next on the list at +320, but the Saints are usually the betting favorites to win this division.