Caesars Sportsbook (CZR-2.3%) is the first sportsbook to sign a deal with Power Five college athletics program, announcing a multi-year exclusive partnership with the Louisiana State University athletics department.
Caesars will receive a multitude of marketing and sponsorship assets from LSU Athletics, including naming rights for the new Caesars Sportsbook Skyline Club at Tiger Stadium and promotions on the LSU Sports mobile app, in exchange for a financial commitment. The sportsbook will also set up an annual scholarship fund to support Louisiana-resident LSU students.
Broadcast and digital sponsorship rights for all of LSU's 21 men's and women's sports programs and opportunities for Caesars Sportsbook customers to attend LSU athletic event are also included.
The gambling company will not market on campus or to students under 21.
Eilers & Krejcik Gaming estimates that annual gambling revenue in the United States could reach $40B, from $2B currently, if all 50 states legalized betting.