Baltimore Ravens Reach Partnership with Caesars Entertainment
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For more information on expected launch details and promotions, check out our Caesars Maryland sports betting page.
On Wednesday, the Baltimore Ravens and Caesars Entertainment announced a five-year, multi-faceted agreement to make Caesars Sportsbook a premier sports betting partner of the NFL team. Additionally, the Ravens announced plans to expand upon its existing partnership with Horseshoe Baltimore, a Caesars casino. Maryland is currently in the process of regulation and plans to launch its sports betting market sometime later this year. At that time, Caesars would have a strong advantage with an existing partnership with the Baltimore Ravens.
Maryland Sports Betting Legal Status
Following an extensive legislative process, the Maryland House and Senate passed HB940 to allow for up to 60 mobile sports betting licenses. The bill was signed by Governor Larry Hogan on May 18, 2021 and the Maryland Lottery and Gaming Control Commission (MLGCC) approved a set of regulations for sports betting on July 15. The Sports Wagering Application Review Commission met for the first time on August 16 and will continue to meet to pass on designated licensees to the MLGCC. On August 27, the MLGCC began a 30-ay public comment period on its proposed regulations. Sports betting is expected to begin sometime later this year, but there is not yet a firm timetable and mobile betting is not expected to be ready in time for the 2021 NFL season.
Baltimore Ravens Caesars Partnership
The Ravens and Caesars Entertainment have agreed to a number of activations in their partnership that will benefit both parties. Caesars will get increased visibility at M&T Bank Stadium, where the Ravens play, in the form of both LED board displays and naming rights throughout the club level. Horseshoe will be able to host a number of events on the club levels, some even with former Ravens players. Caesars will also be the title partner on the Ravens’ digital pre-game show before regular-season home games.
In partnership with Caesars and Horseshoe and pending regulatory approval, the Ravens will provide their fans with a premium sports betting experience with a mobile app accessible from the stadium and a retail sportsbook at Horseshoe Casino Baltimore. Earlier this year, the Ravens agreed to a partnership with BetMGM, so this Caesars partnership was a bit surprising. It’s unclear if they will be able to have competing retail sportsbooks with multiple skins.
There was certainly pressure on the Ravens to speed up their sports betting partnership plans as the Washinton Football Team already has a permit in Virginia in conjunction with FanDuel Sportsbook that is already up and running. In addition, the Ravens have to compete with a number of East Coast football teams in states that have already reached further milestones on their sports betting legislative journey.
South Baltimore District
It’s expected that this new and expanded partnership between the Baltimore Ravens and Caesars Entertainment will play a major role in current plans for an expanded entertainment district in South Baltimore. This district would surround Camden Yards, M&T Bank, and Horseshoe, and would help drive increased foot traffic in the area with appealing features even for non-game days. The district will include a 4,000 seat concert hall and a Topgolf driving range, and now, premium sports betting offerings. Horseshoe had struggled as of late as its revenue had not approached projections by consultants prior to opening and it had been hurt by state-mandated COVID-19 shutdowns, so this partnership is a massive boon to the casino’s financial future.
