Caesars Entertainment
Caesars Entertainment and Genius Sports Strike Major NFL, Official Sports Data, and Fan Engagement Partnership
- Multi-year agreement includes official sports data and data-driven digital advertising
- Caesars Entertainment to leverage Genius’ portfolio of official live data feeds for NFL, NASCAR and English Premier League content
Genius Sports Limited today announced a new strategic relationship with Caesars Entertainment (NASDAQ:CZR), the largest casino-entertainment company in the United States. Caesars Entertainment’s portfolio of casinos, sportsbooks and wagering entities will have access to Genius Sports’ entire official sports data content offering, including customer acquisition tools, and fan engagement solutions.
Caesars owns and operates one of the pre-eminent worldwide sports trading and betting platforms powered by data science and analytics, proprietary development, and a global team.
Genius Sports data feeds will support the Caesars trading and sportsbook platform by providing access to official NFL products, including official live sports data feeds. In addition, Genius Sports will become a programmatic advertising partner to Caesars Entertainment and supply its latest marketing technology to drive customer acquisition, engagement and retention for Caesars’ digital sportsbook and casino products.
In April 2021, Caesars Entertainment was selected as one of the NFL’s official sports betting partners. As an extension of that partnership, Caesars and Genius Sports now have entered into a deal to further Caesars’ official NFL-backed sportsbook offerings, by leveraging NFL official data, Next Gen Stats, and other offerings designed to ensure that its sportsbook users can always ‘Bet Like a Caesar’.
Alongside NFL content exclusive to Genius Sports, Caesars Entertainment will gain access to official data-powered in-play content for other top-tier US and global sports, including NASCAR, English Premier League, Argentinian and Colombian soccer, as well as Liga MX.
“True to the Caesars experience, it’s our goal to treat our sports bettors like royalty,” said Kenneth Fuchs, Head of Sports, Caesars Entertainment. “We know how exciting NFL betting is for our players and through our partnership with Genius, we can now provide bettors with the live NFL data they need to make wagers like a true Caesar. We look forward to improving our NFL sportsbook offerings through this partnership by giving customers a more engaging and exciting way to play.”
“Acquiring and retaining fans now requires a broader suite of innovative and interactive engagement tools than ever before. We are thrilled that Caesars Entertainment has recognized our investment in official sports data as it fuels the next generation of fan experiences,” said Mark Locke, CEO at Genius Sports. “Our range of live sport, in-game betting products and media services will support Caesars’ acceleration of its U.S. market growth, through exciting new brand, acquisition and monetization opportunities.”
“We are excited to see the continued growth in the relationship between Caesars and Genius, two key strategic League partners,” said Christopher Halpin, NFL Chief Strategy & Growth Officer. “NFL fans expect the best, and the combination of their data, capabilities and resources ensure they will provide our fans with exceptional betting experiences.”
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Caesars Entertainment announced the closing of the previously announced sale of the LINQ Promenade to a joint venture formed between TPG Real Estate (TPG) and the Investment Management Platform of Acadia Realty Trust (Acadia) for $275 million. Concurrent with the closing of the transaction, Caesars made a $275 million voluntary prepayment of the Term Loan B due 2030 with the proceeds from the transaction.
Latham & Watkins LLP and Brownstein Hyatt Farber and Schreck LLP represented Caesars on the transaction. Kirkland & Ellis LLP provided transaction counsel to TPG & Acadia.
Caesars Entertainment
Caesars Entertainment Enters into Definitive Agreement to Sell the LINQ Promenade
Caesars Entertainment has announced that it has entered into an agreement to sell the LINQ Promenade to a joint venture to be formed between TPG Real Estate (TPG) and the Investment Management Platform of Acadia Realty Trust (Acadia) for $275 million. The sale is subject to customary approvals and other closing conditions and is expected to close during the fourth quarter 2024.
“The sale of the LINQ Promenade represents an accretive, non-core asset sale that will accelerate our debt reduction goals. I want to thank all the team members and the tenants of the LINQ Promenade for their partnership over the last 10 years and wish them continued success,” said Tom Reeg, CEO of Caesars Entertainment.
Latham & Watkins LLP and Brownstein Hyatt Farber and Schreck, LLP represented Caesars on the transaction. Kirkland & Ellis LLP provided transaction counsel to TPG & Acadia.
Caesars Entertainment
Caesars Entertainment Closes Sale of World Series of Poker® Brand to NSUS Group for US$500 million
Caesars Entertainment, Inc. (NASDAQ: CZR) (“Caesars”) today announced the closing of the previously announced sale of its intellectual property rights for the World Series of Poker® (“WSOP”) brand to NSUS Group Inc. (“NSUS”). As previously disclosed, the transaction includes US$250 million in cash and a $250 million promissory note due five years after the transaction’s closing secured by the WSOP intellectual property assets being sold.
Caesars retains the right from NSUS to host the flagship WSOP live tournament series at its Las Vegas casinos for the next 20 years and will receive a license from NSUS to continue operating its recently upgraded WSOP Online real-money poker business in Nevada, New Jersey, Michigan, and Pennsylvania for the foreseeable future but will otherwise be restricted from operating online peer-to-peer real-money poker operations for a specified period of time and subject to certain exceptions. In addition, brick-and-mortar poker rooms currently operated by Caesars will continue to feature WSOP branding, and Caesars destinations will continue to enjoy preferential rights to host live WSOP Circuit events going forward.
Concurrent to the transaction, several long-time WSOP executives will transition to key leadership roles within the NSUS team. Ty Stewart will serve as Chief Executive Officer of the newly formed WSOP subsidiary, while Gregory Chochon has accepted the position of Chief Operating Officer. Erik Eidissen also joins as Communications Manager. With more than 30 years of combined experience managing the WSOP brand, these employees will lead the next phase of growth and integration under new ownership.
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