NHL and Caesars renew sports betting and gaming partnership

Multi-year extension between sports league and gaming giant expands the contract first agreed in 2019.

March 7, 2024 • 1:15 p.m. ET

• 4 min reading

The National Hockey League and Caesars Sportsbook have agreed to a multi-year extension of their partnership, the league and sportsbook announced Thursday morning.

The deal, first agreed to in 2019 with Caesars predecessor William Hill, expands on the previous agreement, notably by introducing access to league-owned intellectual property to develop and promote iCasino games under the NHL brand, the press release said North America.

“Since the beginning of our partnership with Caesars, we have collectively focused on innovative ways to engage our passionate fan base,” Jason Jazayeri, NHL vice president of business development, said in the release. “We look forward to the next chapter of our relationship, which will focus on providing NHL fans unprecedented access to our sport.”

The Caesars Sportsbook deal also comes in time for the Stanley Cup Playoffs and provides additional opportunities for advertising and visibility during broadcasts.

“With the reigning Stanley Cup champions based in our hometown of Las Vegas, we have a front-row seat to the excitement and passion that the NHL offers,” said Eric Hession, President of Caesars Digital. “This partnership extension with the league. We continue our efforts to build on this fan passion by providing all of our valued customers with unforgettable experiences in both sports betting and online casino.”

NHL relies on sports betting

The deal comes as the NHL continues its efforts to establish itself more firmly in the iGaming and sports betting landscape.

In recent months, the NHL has also reached agreements with betting giants such as BetMGM to extend their partnership and entered into a new partnership with PENN Entertainment, Inc., the company behind ESPN Bet in the United States and theScore Bet in Ontario.

As for Caesars Sportsbook, its parent company Caesars Entertainment recently reported a subpar fourth quarter, reporting a net loss of $72 million in its February release. Despite disappointing overall numbers, the company’s digital segment, particularly its online gaming and sports betting division, posted a nearly 30% year-over-year increase in revenue, rising to $304 million from $237 million in the fourth quarter of 2022.

“On our Q4 call last year, I discussed how the benefits of scaling net sales in our digital segment would result in improved profitability given the high flow-through nature of this business,” Hession said in a conference call at the time. “This strong revenue growth in the fourth quarter and full year 2023 led to several notable records in our digital business.”

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