While rumors have been swirling for months, it has now become official that the Saints’ stadium will be renamed from the Mercedes-Benz Superdome to the Caesars Superdome. This comes after the Louisiana State legislature approved the naming rights for a 20-year contract between Caesars, the state, and the Saints.
Technically, the Saints do lease the stadium from the state. As per the leasing agreement, the Saints are the sole beneficiary of naming rights deals. However, this is the reason that the Louisiana State government was even involved in the decision-making process.
Sports Betting & Louisiana
Sports betting is coming to Louisiana. The state legalized sports wagering earlier this year with a series of bills that will allow both retail and online sports betting. This was following a state-wide vote where 55 of 64 parishes in the state decided to legalize sports betting.
The projected launch for online sports betting is the 2021 NFL season. This means that Caesars could not have picked a better time to secure the naming rights deal with the Saints, as the previous contract expired last week. While details of the deal start to trickle in, many expect Caesars and the Saints to unveil more betting-centric perks of the naming rights deal.
The NFL & Sports Betting
The NFL took a hard stance against gambling companies in the past. However, since sports betting became legal following the Supreme Court decision in 2018, the National Football League has slowly changed its stance. States began to see massive numbers from sports betting, and this past year the NFL partnered with three sports betting companies, FanDuel, DraftKings, and Caesars. It is also worth noting that BetMGM has several NFL team sponsorships.
We have now reached the next step, as an entire stadium is being named after the famous gambling company Caesars, who will undoubtedly be applying for licensing in Louisiana. Securing a partnership with the biggest sports team in the state and the naming rights to the stadium will be massive for Caesars’ market reach.
There are not a ton of details to disclose regarding the deal. The monetary compensation has yet to be released. However, according to NBC Sports, the Saints will reportedly be using the funds to improve the stadium, despite the stadium being a lease.
The Caesars Superdome will be home to the 2025 Super Bowl. The last time the Superdome hosted a Super Bowl, the lights went out at halftime. The NFL will want to make sure that the stadium is up to par for this go-around in New Orleans.