Louisiana state officials have given the green-light to a twenty year $138m deal that will see Caesars Entertainment gain the naming rights to the Superdome stadium.
The home of the National Football League’s New Orleans Saints was previously known under the Mercedes-Benz Superdome moniker, with the ten-year deal, which was reportedly worth $50m-$60m, due to expire on July 31, 2021.
The long-mooted naming rights deal comes after Caesars became the NFL’s first official casino partner in January 2019, in an agreement lauded as a “landmark sponsorship”.
It is said that the transition to the new naming rights sponsorship is required to be implemented prior to the first Saints preseason game, which is set to take place on August 23, 2021.
The agreement adds that all signage and logo placements are to be in the same locations as the existing Mercedes Benz sponsorship branding and associated assets.
Speaking to SportBusiness, Greg Bensel, Saints spokesperson, stated: “Today, the Louisiana joint legislative committee on budget approved the naming rights convention for the Superdome.
“This approval was a procedural step in securing the naming rights for the Superdome and now we move to finalise our partnership agreement. Once that is official, we will have a formal announcement.”
The agreement will add to Caesars’ presence throughout the state, with its current footprint including the five properties of Harrah’s Louisiana Downs, Harrah’s New Orleans, Horseshoe Bossier City, Isle of Capri Casino Hotel Lake Charles, and The Belle of Baton Rouge Casino Hotel.
It is also expected that Governor John Bel Edwards will sign the bill legalising retail and mobile sports betting across the state, which analysts say could attract more than $2.5bn in annual sports wagers and more than $200m in operator revenue.
In a document outlining the final details of the partnership, which is expected to be rubber stamped, it is stated: “Caesars is an international brand with a major presence in Louisiana. The Caesars Superdome represents the state of Louisiana’s most prominent sporting and multi-purpose event facility, which is also recognised around the world.
“Caesars will promote this prominent facility in their marketing efforts and serve as a ‘brand ambassador’ for events hosted in New Orleans.”