Caesars Entertainment

Caps Announce Caesars Entertainment as First-Ever Jersey Patch Partner

Published

3 years ago

September 28, 2021

Caesars Sportsbook logo debuts on home and third jerseys starting with the 2022-23 NHL season in first announced team agreement in NHL’s Jersey Advertising Program

The Washington Capitals and Caesars Entertainment Inc. announced a multi-year partnership agreement today that places the Caesars Sportsbook logo on Capitals home and third jerseys worn for games played at Capital One Arena beginning with the 2022-23 NHL season. The landmark announcement marks the first team announced agreement in the NHL’s Jersey Advertising Program.

Caesars Sportsbook, the best-in-class sportsbook offering, will have its logo worn on the Capitals home and third jerseys, with the 3 x 3.5 inch patch positioned on the upper right chest area of the jersey. An industry first, the introduction of the Caesars Sportsbook patch follows the historic opening of the Caesars Sportsbook at Capital One Arena in May 2021.

In addition to the home jersey patch, Monumental Sports & Entertainment (MSE) and Caesars Sportsbook expand their partnership with additional Casino, Gaming and Caesars Rewards programming elements. The agreement also includes the entitlement of a Caesars hospitality space and VIP seating at Capital One Arena.

European Gaming Congress 2024 (Warsaw, Poland)

“Following the successful launch of Caesars Sportsbook adjacent to Capital One Arena last spring, we are thrilled to introduce Caesars Sportsbook as the Capitals’ inaugural home jersey advertising partner in a first-of-its-kind announced partnership in the NHL,” said MSE president of business operations and chief commercial officer Jim Van Stone. “Together as two industry leaders, we’ve built a robust partnership in the gaming and casino space, and our overall relationship reflects our shared commitment to providing sports fans with world-class, unique experiences. MSE, the Capitals and Caesars share a commitment and passion toward innovation in the sports and entertainment space, and the opportunity to incorporate Caesars onto Capitals home jerseys is a wonderful development and exciting new fan engagement opportunity for both organizations in the nation’s capital.”

The NHL’s Jersey Advertising Program begins with the 2022-23 NHL season and allows up to two jersey sponsors per team when separate sponsors appear on home and away jerseys. The Capitals will announce an away jersey sponsor at a later date.

“Being woven into the Washington Capitals jersey is an exciting chapter in our collective story,” said Chris Holdren Co-President of Caesars Digital. “Like Monumental Sports & Entertainment, we love blazing trails and we are always looking for innovative opportunities that drive engagement and storytelling for fans. We are proud to extend our historic partnership with such a storied franchise after launching the sportsbook at Capital One Arena.”

MSE and Caesars Entertainment previously made history with the opening of Caesars Sportsbook at MSE’s Capital One Arena. Marking a major milestone in U.S. sports history, the sportsbook officially opened in May 2021, becoming the first ever sports betting venue to open within a U.S. professional sports facility. A first-of-its-kind, marquee destination for local, regional and global visitors, the two-story, 18,000 square-foot venue features 17 betting windows and 12 self-service betting kiosks, as well as Verizon 5G Wi-Fi capability so fans can place wagers on mobile devices.

The newly-launched and easy-to-navigate Caesars Sportsbook by William Hill app integrates mobile sports betting with Caesars Rewards, where every bet, win or lose, rewards the bettor with Tier Credits and Reward Credits that can be used to unlock unbeatable experiences within the Caesars portfolio of properties and partnerships. True to the legendary Caesars brand, the app provides an expansive array of wagering opportunities, including live in-game betting and flexible limits on the bets players want to make.

Brownstein Hyatt Farber and Schreck LLP

Caesars Entertainment Closes Sale of the LINQ Promenade

Published

5 days ago

December 18, 2024

GamingAmericas.com

caesars-entertainment-closes-sale-of-the-linq-promenade

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

Published

2 months ago

October 31, 2024

GamingAmericas.com

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

Published

2 months ago

October 30, 2024

GamingAmericas.com

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.