Louisiana Lawmakers Approve Caesars $138M Superdome Naming Rights Deal

Lawmakers inwards LA on Thursday sanctioned a business deal that gives Caesars Entertainment naming rights for 20 years to the Superdome in New Orleans.

Not long after the Joint Legislative Committee on the Budget approved the business deal at its group meeting inward Baton Rouge workers began installing signage with the Las Vegas-based gaming company’s brandmarks within the iconic sports stadium that seats more than 73,000 people. Within the next month, the Caesars logo testament be installed on the exterior of the dome’s roof.

Mercedes-Benz antecedently held the rights, with that 10-year accord conclusion earliest this month.

According to documents presented at the commission meeting, the rights package is valued at $138 million and testament ravel through and through the 2041 NFL season. The New Orleans Saints, which negotiated the deal with Caesars after conducting a worldwide search, testament retain 100 percent of the proceeds from the transaction.

News of a possible trade between the two sides was firstly reported inwards Mar past The Athletic.

Specifics of the financial organisation were not disclosed as the deal included a confidentiality concord on both sides. According to the handout, the Saints indicated revealing such terms could place them at a disadvantage with the other 31 NFL teams. However, the Saints did say the revenue from the naming rights sell would lead dorsum into renovations for the 46-year-old facility.

The Caesars Superdome represents the nation of Louisiana’s most prominent sporting and multi-purpose case facility, which is also recognised around the world,” the selective information document detailing the arrangement explained. “Caesars testament promote this prominent readiness inward their marketing efforts and service as a ‘brand ambassador’ for events hosted inward New Orleans.”

Last year, Louisiana voters in 55 of the state’s 64 parishes sanctioned a referendum finally yr to legalize sports betting inwards those jurisdictions. The documents did non include any information most possible sports betting lounges within the sports stadium or other gaming partnerships.

A message to Caesars officials was not returned on Thursday.

Caesars Betting on New Orleans

The naming rights deal for the Superdome comes as the largest gaming companion in the US is provision to upgrade its cassino inwards the popular tourist town.

Last December, fellowship officials revealed plans for a $325 million overhaul of the city’s only if land-based casino. It’s currently branded below the Harrah’s name, but with the renovations, the gambling casino will follow renamed Caesars New Orleans.

Caesars’ plans for the New siege of Orleans gambling casino include constructing a new 340-room hotel tower, adding new dining options, and developing division of the casino’s indorse base that currently is vacant.

Company leaders await to consummate the translation by 2024.

Caesars operates currently operates IV other casinos inward Louisiana, but deuce of those properties have been sold.

Superdome Still Attracts Major Events

Besides the Saints games, the Superdome also serves as nursing home to the Sugar Bowl, ane of the top of the inning college football postseason games annually. College football’s BCS National Championship spunky was played thither quaternity times, and the College Football Playoff, the replacement to the BCS, played its 2020 title spirited there. It also has hosted heptad Super Bowls and will legion it once again inwards 2025.

The Superdome will boniface the men’s NCAA Final Four for the sixth clip next year. State officials were told that affiliating with a gaming companionship will non hinder efforts to pull in future tense college or other amateur sporting events.

With the Superdome deal, Caesars at present joins Gila River Hotels and Casinos as a gaming fellowship that holds naming rights for a sporting locale not connected to a casino property.

Five years ago, Hard Rock Entertainment secured the naming rights for the Miami Gardens, Fla., arena that’s place to the NFL’s Miami Dolphins and college football’s Miami Hurricanes. However, that deal, which was consummated before PASPA was overturned, prohibited Hard John Rock from promoting its gaming business.

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