NFL increases revenues thanks to gambling partnerships
The sports league reported an increased in revenues thanks to a new series of sponsorships, including the one with Caesars.
US.- According to new research released by IEG this week, total sponsorship spending on the National Football League (NFL) and all its teams increased 5.1% to US$1.39 billion in the 2018-2019 season, and this was driven by new sponsorships, including the one with Caesars Entertainment.
The growth was due to a new wave of sponsorships, which include casino and gaming, such as the one with Caesars Ent which became the league’s first-ever “Official Casino Partner” in a US$30 million deal per year. The company also has deals with seven NFL teams.
Moreover, despite an increase in spending from gambling companies in the league, daily fantasy sports operators have cut their investment in NFL teams or dropped deals altogether.
“The NFL and its teams have successfully leveraged the increased ability to sign betting and gambling partners. It allowed the league to defy the odds and increase sponsorship revenue by a decent margin coming off a season of declining ratings in 2017-18 and no new stadiums opening in 2018-19,” said Peter Laatz, Global Managing Director of IEG.
