The National Football League and Caesars Entertainment Company have just made an agreement, making it the first casino to partner with the league.
This has many implications for the future of the NFL and its relationship with casinos and sportsbooks. Previous to this move, the NFL had a policy that did not deal with any kind of casino or sportsbook. Even after MGM acquired the rights the the NBA, MLB, and NHL, the NFL had restrained from making a deal with a casino. Until now.
This move seems to be more about the future, and less about the present opportunities. The legalization of sports gambling seems to be right around the corner, and Caesars Entertainment seems to have positioned themselves for the future well. The deal, reported by Yahoo!News, is worth $10 million a year, and will run for three years. It
It is interesting to witness the shift of stance that the NFL is going through regarding gambling. About a year ago, the NFL announced that the Raiders would be moving to Las Vegas. Now, the NFL partners with a huge casino company in Vegas, with all signs indicating a future deal involving legal sports betting on the NFL being done with the same company. Yahoo!News estimates that their is $2.3 billion that is to be made in the untapped legal gambling market, and there's no doubt that a NFL presence is needed in Vegas if they are to make the biggest splash possible.
If the NFL are going to endorse the sports betting of the future, it makes sense to get in the game now. That is what this move looks like from the National Football League, an anticipation move to be ahead of legality of sports betting. After the news broke, Caesars Entertainment Stocks rose just 4% on the day. The gambling market is a hot topic as of late, and will only get hotter in the future.