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Caesars inks sports betting deal with Cleveland Cavaliers

Cleveland Cavaliers NBA betting news

America’s largest casino and wagering company, Caesars Entertainment Inc., has announced a multi-year sports betting deal with the Cleveland Cavaliers.

The agreement, which makes the gaming giant an official sports betting and casino partner of the NBA franchise, will see Caesars put up a state-of-the-art retail sportsbook at Rocket Mortgage FieldHouse.

The 10,355-square-foot Caesars-branded sportsbook will be located on the ground level of the north atrium, near the junction of Huron Road and Ontario Street. The book will feature a VIP lounge, full-service bar, an extensive food menu, sports viewing on wall-to-wall TVs, and live betting windows for those who will need the assistance of a ticket writer when placing wagers. The venue will remain open to eligible patrons all year round, including those without event tickets.

According to the partners, the construction of the sportsbook will commence soon although the agreement is subject to regulatory approvals and statutory approvals. The venue will open before the end of the year.

The announcement comes just two weeks after the Cavaliers signed a mobile sportsbook partnership with Fubo Gaming.

A historic partnership for Caesars

The Caesars Sportsbook at the Rocket Mortgage FieldHouse will be America’s second sportsbook inside an NBA arena, and the operator is thrilled to partner with the team for this historic project. The FanDuel Sportsbook at the Phoenix Suns’ Footprint Center, which opened in September, was the first NBA in-stadium sports wagering venue in the country.

“We’re ready to welcome Ohio sports fans into Caesars Sportsbook Empire, while also making history with our second sportsbook at an NBA arena,” said Caesars Digital Co-President Chris Holden in a statement about the partnership with the Cleveland Cavaliers.

“Building upon our already established roots with Scioto Downs in Columbus, we’re excited to announce our partnership with the Cavaliers at an exciting time in their franchise’s history. As we prepare to launch sports betting in Ohio later this year, this wide-ranging partnership enables us to connect with the Cav’s passionate and highly engaged fanbase. Caesars Sportsbook at Rocket Mortgage FieldHouse will be a first-class venue providing an exciting atmosphere for sports betting and more.”

The deal also marks Caesars’ second sports betting partnership in Ohio following its online market access agreement with Eldorado Gaming Scioto Downs in Columbus. The racino is owned by Caesars Entertainment, and it is one of the venues eligible to operate both retail and mobile sportsbooks when the regulated market launches.

Pro sports franchises continue to embrace betting boom

Professional sports leagues were among the strongest opponents of expanding sports betting in the United States outside of Nevada, but the hard stance seems to have changed since the SCOTUS repealed the 1992 PASPA rule in May 2018.

As legal wagering continues to expand, the leagues are gradually warming up to the industry, which is evident through the numerous partnerships with data providers and national operators like FanDuel, DraftKings, Caesars, and BetMGM. Sports organizations and franchises also played a significant role in pushing for sports betting legislation in states like Illinois, Arizona, Ohio, Maryland, and the District of Columbia.

The District was the first jurisdiction to allow pro sports organizations and venues to actively participate in the market when it passed legislation to authorize the activity in December 2018. Among the entities allowed to operate sportsbooks in the jurisdiction are Capital One Arena, Nationals Park, Audi Field, and the Entertainment and Sports Arena at St. Elizabeth East Campus.

Capital One Arena made history when it opened the country’s first in-stadium sportsbook through a partnership with Caesars and Monumental Sports in May last year. Since then, three more arenas including the Footprint Center and Chase Field in Downtown Phoenix and Nationals Park in DC have joined the bandwagon, and several others are in the process of putting up their retail sportsbooks. Those looking to join the market in the near future include TPC Scottsdale and the State Farm Stadium, both of which are located in Arizona, and the United Center and Wrigley Field in Illinois.

In addition to opening retail wagering venues, pro sports organizations and arenas also offer statewide mobile betting in Arizona. Ohio and Maryland also permit professional teams and sporting venues to operate online sportsbooks, although mobile wagering is yet to take off in the two states.

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