LSU and Caesars Sportsbook announced Friday that the two parties have entered into a multi-year agreement, making the bookmaker an official sponsor of LSU Athletics.
With the agreement, LSU becomes the first SEC school to enter a financial partnership with a sportsbook.
The value of the deal is said to be in the multi-million dollars, according to a source who spoke to the Associated Press on the condition of anonymity because the numbers were yet to be disclosed to the public. The source added that there is no plan to put a sportsbook in any of the game venues.
Chris Holdren, Co-President of Caesars Digital, said they are pleased to partner with the LSU Tigers.
“LSU athletics programs have always exemplified excellence, and at Caesars, we couldn’t be happier to partner with such an iconic brand in college athletics,” Holdren said. “We have a proud legacy in Louisiana, and bringing LSU fans and alumni closer to the sports they love while also offering scholarship opportunities will help us build upon that.”
The partnership comes right when the state of Louisiana appears to be getting ready to legalize sports gambling, with the state’s Gaming Control Board already accepting casino applications for sports betting licenses.
The sportsbook also recently bought the naming rights to the Superdome, the home stadium of the New Orleans Saints, after the stadium's previous deal with Mercedes-Benz ended over the summer.
As part a part of the LSU deal, Caesars will receive the naming rights to the box seats in Tiger Stadium and signage throughout Death Valley, beginning with LSU’s home game against Central Michigan on Sept. 18.
Caesars will also have additional signage at the Pete Maravich Assembly Center (basketball), Alex Box Stadium (baseball), and will have a presence on LSU’s mobile sports app.
“We share a clear vision of how athletics and entertainment can come together to enhance the fan experience,” LSU Athletic Director Scott Woodward said. “We are excited to join with Caesars to make that vision a reality.”
Caesars presence has steadily increased throughout the state of Louisiana. They are making huge renovations to transform Harrah’s New Orleans to Caesars New Orleans, as well as Isle of Capri Casino, in Lake Charles, to Horseshoe Casino Lake Charles.
Caesars said they won’t be marketing to anyone under 21 or in campus facilities, and with the new NIL rule, it makes it unclear whether athletes under 21 can be used in marketing material for the company.
Caesars Sportsbook has committed an annual scholarship fund to support LSU students who come to Baton Rouge from in-state.