- Caesars will play host to a new ESPN studio inside of the LINQ Hotel.
- Financial terms of the deal were not released but both stocks increased upon the release of the news.
- Caesars is also partnered with Turner Broadcasting for a Bleacher Report studio.
LAS VEGAS – Caesars Entertainment has entered into a partnership with ESPN to help expand their sports betting coverage.
Under the terms of the deal, ESPN will build a new studio inside the LINQ Hotel.
This will be the home to sports betting content for the network including the newest show, Daily Wager.
Expected to open in 2020, it will “play a vital role during major sporting events” according to the ESPN Press Room.
“A full studio presence in Las Vegas will help us create content that taps into that culture and grows our offerings to avid bettors and more casual fans,” said Connor Schell, the EVP of Content at ESPN.
Though financial terms of the agreement were not released, Caesars will serve as the official data supplier for betting odds across ESPN’s TV shows, online programs, and application extras.
This will certainly be a positive for Caesars, who will increase their target audience to the 86 million ESPN subscribers.
“Working with a category leader like Caesars Entertainment will help us serve these highly engaged, diverse sports fans with the best and most relevant content possible,” said Mike Morrison, the VP of Business Development at ESPN.
With the news, both Disney (DIS) and Caesars (CZR) saw their stock price increase over 2% before noon on Tuesday.
But this is just another deal that Caesars has been working on since the end of last year. The entertainment company has taken a strong stance towards being at the forefront of legal sports betting.
In January, Caesars announced their partnership with the NFL, becoming the official casino partner of the league. The company also announced their sports lounge buildout in the Prudential Center in January and more recently have paired with DraftKings to become their official sportsbook operator.
Additionally, Caesars Palace in Las Vegas will be the home for a Bleacher Report studio that was announced in February.
“Between an increased interest in sports betting among fans, regularly hosting marquee sporting events – like the upcoming NFL Draft and NBA Summer League as well as premier UFC and Top Rank bouts – and the arrival of the Golden Knights and the Raiders, Las Vegas has become an epicenter of sports culture,” said Schell.
Also, the state is now able to host NCAA Tournament games, which was announced earlier this month.
With 55 million customers in their rewards program, a mobile sports betting app in New Jersey (and more likely on the way), and 38 properties across 13 states, Caesars is doing everything in their power to remain on top of the sports betting world.
Michael began writing as an NBA content writer and has spent time scouting college basketball for Florida State University under Leonard Hamilton and the University of Alabama under Anthony Grant. A graduate of both schools, he covers topics focused on legal sports betting, betting odds, and casino reviews. Michael likes to golf, play basketball, hike, and kayak when not glued to the TV watching NBA games.