Wide-ranging deal

Caesars Entertainment has officially partnered with Major League Baseball’s (MLB) Chicago White Sox. In the deal announced Thursday, Caesars becomes the exclusive casino partner of the team and Caesars Sportsbook becomes its official betting partner.

Caesars will now be able to use the team’s marks and logos. It will also gain exposure through the White Sox’ social media and digital assets and at the team’s home venue, Guaranteed Rate Field. Caesars will have fixed television-visible signage around the stadium.

White Sox-related promotional offers available to fans

The White Sox will work alongside Caesars through marketing campaigns, fan experiences, and team merchandise. There will also be White Sox-related promotional offers available to fans through Caesars Sportsbook.

Nothing about a retail sportsbook

Through the agreement, Caesars is looking to build on its legacy in Illinois and nearby Indiana. It has a number of gaming destinations in the vicinity, including Harrah’s Joliet, Horseshoe Hammond, and Harrah’s Metropolis.

Caesars Entertainment CEO Tom Reeg believes that it is the perfect time to partner with the White Sox, saying: “Caesars can provide White Sox fans and sports fans across the state with the very best in sports experiences through our world-class resorts and the recent relaunch of the Caesars Sportsbook app now available for mobile registration.”

Chicago White Sox chief revenue and marketing officer Brooks Boyer also welcomed the partnership with Caesars and the ability to provide exciting new programs and experiences to fans.

There was no mention of the setting up of a retail sportsbook at Guaranteed Rate Field. DraftKings is in the process of building a retail sportsbook at the Chicago Cubs’ Wrigley Field, FanDuel is developing a sports betting lounge at the United Center, home of the Chicago Bulls and Blackhawks, and PointsBet has a retail sportsbook open at the Hawthorne Race Course.

Some struggles

Caesars Sportsbook is already one of the MLB’s authorized gaming operators. It has a presence in 24 states, 17 of which have online betting markets. It also operates more retail sportsbooks in the country than any other operator.

only once had a monthly betting handle of more than $20m in Illinois

Caesars has had an online sportsbook operational in Illinois since September 2020, originally a William Hill platform before rebranding to Caesars Sportsbook. It has not been very competitive, however, when it comes to market share. It has only once had a monthly betting handle of more than $20m in Illinois, while FanDuel and DraftKings took in over $200m worth of wagers in February alone.

The news of the partnership with the White Sox also comes the same week Caesars Entertainment released its first quarter financial results. The company’s digital division suffered a net loss of $576m in Q1, in large part because the company spent large sums on marketing expenses in an effort to acquire new customers.