30-second summary
- Turner Broadcasting to add broadcast studio inside Caesars Palace Las Vegas sportsbook
- First-ever deal between casino operator and major sports broadcasting network
- Caesars will be presenting sponsor of gambling programming?on Turner Sports
- New studio will focus on Bleacher Report
For the first time, a casino operator and major sports broadcasting network have teamed up. Caesars Entertainment Corp. and Turner Broadcasting will be working together to capitalize on the continually growing sports betting industry. As part of the deal, Turner Broadcasting will be adding a studio in the sportsbook area of Caesars Palace of Las Vegas.
Working together
The deal between the two major companies is a first, but it will most likely lead to similar partnership deals. The broadcasting company is behind such television channels as TNT, TBS, and CNN. The experience of the broadcasting network will ensure that a quality studio is created within the casino.
The studio will provide the Bleacher Report brand, the digital option of Turner’s that focuses on a younger audience. In addition to being home to the new studio, Caesars has also been named the presenting sponsor of all programming involving gambling across Turner Sports. This segment is a division of WarnerMedia, of AT&T Inc.
Turner President David Levy said: “Sports gambling is one of the most unique opportunities that’s happened in quite a long time in this industry. We’re all scratching around, looking for engagement with our fans and our customers, and we know that gaming and legalized sports gambling is going to increase engagement with sports.”
Engaging a younger audience
Turner Broadcasting’s Bleacher Report reaches over 250 million fans via social media such as Facebook, Instagram, and Twitter. The Bleacher Report website is a top destination for Gen Z and millennial sports fans, so Caesars hopes to capitalize on this audience with the new partnership.
Aligning with Turner, Caesars will be able to reach out to this demographic via the new studio. The goal is to expose millions of people to the exclusive year-round sports and gaming opportunities available today.
Through the studio, the Caesars’ brand will be featured in video content. This will help the Las Vegas-based company to reach sports fans nationwide as sports betting spreads to more states in the US. With Bleacher Report, the content of the studio will reach sports fans ranging in age from 18 to 34. Caesars will be able to promote its offerings within the age group, with the opportunity to use their own bets or odds within the content.
Caesars is not paying affiliate fees to Turner as part of the partnership. For now, the broadcasting company will not receive a payment for referring bettors to the sports book of Caesars. However, that could change in the future as the partnership develops.
The new deal with Turner Broadcasting is one of several that Caesars has signed involving sports betting. The brand is the first casino partner of the NFL, though the partnership does not include advertising for sports betting. Team deals have also been signed with the Philadelphia 76ers of the NBA and the NHL’s New Jersey Devils.