Most days, NJ sports betting news is about the latest sponsorship agreement between a major sports league and a gaming company.
Today is no different.
Caesars inked deals with the Philadelphia 76ers and New Jersey Devils. The announcement marks the first time a casino has signed agreements with teams in both the NBA and NHL.
The latest deal comes just one day after MGM signed a sponsorship deal with NHL and on the heels of MGM’s latest deal with the NFL’s New York Jets. Now the company has agreements in place with both the NBA and NHL.
What we know about the NJ sports betting deals
The multi-year deal between Harris Blitzer Sports & Entertainment, owner of the Philadelphia 76ers and New Jersey Devils, and Caesars is designed to introduce fans to the sports betting experience.
The Caesars Club will debut in the main concourse of the Prudential Center. In addition to providing a sports betting experience, the 5,000-square-foot restaurant and bar will introduce patrons to the Caesars sports betting app.
Adam Davis, chief revenue officer with the NJ Devils and Prudential Center, talked about the partnership with Forbes:
“Prudential Center and Caesars Entertainment are industry leaders in sports and entertainment. Caesars Club is a natural way to recreate the world-class Caesars experience for New Jersey Devils Premium Seat members and one million event goers that attend concerts and live events at ‘The Rock’ annually.”
There were no details on when the Caesars Club might open. Financial terms of the deal are being kept confidential.
Let the promotions begin
Caesars has permission to showcase Harrah’s Philadelphia and a few of its other signature hotels to Philadelphia 76ers’ fans. Additionally, the casino will promote both teams at many of its properties worldwide.
The Philadelphia Business Journal is reporting two promotions allowing fans to win weekend getaways and cash prizes.
Sixers fans will enjoy Score for the Shore, an in-game and on-court promotion. Additionally, the casino will be running a social media contest, “Live Like a Caesars VIP.” Prizes include a stay at Caesars Atlantic City Hotel & Casino and a weekend at the LINQ Hotel & Casino in Las Vegas.
Switching over to the ice, hockey fans can take part in the Caesars-branded Shoot for a Million. During the course of 10 regular season games, a few lucky fans will have the chance to win $1 million.
Is two company or a crowd?
The deal between Caesars and the NJ Devils is the second of its kind within the week. Recently, the Devils partnered with William Hill US to create a sports lounge. The sports lounge will also provide a sports betting experience to fans.
Neither the William Hill sports lounge or the Caesars Club will accept live sports wagers, however. The NHL frowns upon actual sports betting in its venues. Even so, fans can place bets on the NJ mobile sports betting app.
That makes two “sports betting experiences” in the main concourse of the Prudential Center. Both William Hill and Caesars are probably thinking that is one too many.
So far, partnerships have been mostly non-exclusive, most likely because the cost of exclusivity is high. After having to pay to get a prime location in front of very enthusiastic sports fans, both companies will be fighting to get those fans inside their door.
Fighting for every customer
Customer acquisition is the name of the game for the nascent New Jersey sports betting industry.
A gambling study by Rutgers University shows customers are very loyal and most of them register for a single account. Granted, the study only took into account online casino gambling since sports betting was not legal at the time.
But it is not too far of a stretch to say people like to spend their money where they are comfortable. And they are usually most comfortable in the first place they enter — whether it is online or in real life.
Likely, fans of the Sixers and the Devils will witness two strategic competitions. One on the court or the ice, and the other on the concourse of the venue.
Expect fans to benefit from the competitive nature of customer acquisition as it will be on full display inside the Prudential Center.