As retail sportsbook locations are looking to open at stadium venues in Chicago; professional organizations are looking to extend partnerships with sportsbooks.
The Chicago White Sox and Caesars Entertainment signed an agreement on Thursday to become the team’s exclusive casino partner and its official sports betting partner.
What Does This Mean Going Forward
Caesars Sportsbook gained market access in Illinois by buying out William Hill. The deal the partnership in place, Caesars has gained even further access to the third-largest city in the United States.
Caesars Entertainment and Caesars Sportsbook will now have access to the team’s logos and marks, rotational LED signage, and digital and social media assets. Members of the Caesars Rewards program will have access to exclusive White Sox experiences.
Caesars will have its presence in the stadium by having signage in the right field promoting its gaming destinations, as well as lettering over the left-field video board.
On the other hand, the franchise will be able to integrate both Caesars Entertainment and Caesars Sportsbook for numerous marketing strategies that include team merchandise and experiences. Concerning the sportsbook side of the business, the team can offer promotions and other offers to increase fan engagement.
How This Will Help Caesars in Illinois
A number of sportsbook operators in Illinois have already established partnerships with venues in the state. DraftKings is already in the process of building a retail sportsbook location at Wrigley Field. They have partnered up with the Chicago Cubs.
FanDuel is building a lounge at the United Center, where the Chicago Bulls and Chicago Blackhawks play. PointsBet has also become the official sportsbook of the Hawthorne Race Course in Stickney.
Caesars has struggled since entering the Illinois sports betting market as the bookmaker has failed to gain considerable market share and users compared to its competitors. Caesars’ overall market handle is slightly below $170 million and has only exceeded $20 million once since launch.
Both FanDuel and DraftKings have accepted over $200 million in mobile wagers in just February. However, the company has been pushing for partnerships in other jurisdictions as well.
In a press release, Tom Reeg, CEO of Caesars Entertainment, stated;
“It’s a perfect time for Caesars to align with an iconic franchise like the Chicago White Sox.”
As of this moment, there is no plan to construct a retail sportsbook location, Guaranteed Rate Field, but this could help them gain more exposure in the prominent sports betting market. Caesars has market access in 24 states which includes 17 mobile sports wagering markets.
What Other States Does Caesars Have Partnerships in
Caesars also has partnerships with franchises in both Ohio and New York. Caesars offered the biggest promotion in the industry’s history since the Empire State’s mobile sports betting market launched on January 8th. Since then, FanDuel has taken most of the market share and revenue.
Even with the underwhelming results, Caesars became the New York Mets’ official sports betting partner at the beginning of April. During the regular season, Caesars plans to open a 13,000-square-foot venue on the Excelsior Level of Citi Field.