The National Hockey League and Caesars Sportsbook have come to terms on a multi-year extension of their partnership, the league and sportsbook announced on Thursday morning.
The deal, first agreed to in 2019 with Caesars predecessors William Hill, expands upon the prior agreement, most notably with the introduction of access to league-owned intellectual property, according to the press release, to build and promote NHL-branded iCasino games in North America.
“Since the inception of our partnership with Caesars, together we have focused on innovative ways to engage our passionate fanbase,” NHL vice president of business development Jason Jazayeri said in the release. “We look forward to the next chapter of our relationship focused on delivering unparalleled access to our sport for NHL fans.”
Caesars Sportsbook’s deal also comes just in time for the Stanley Cup Playoffs and will provide additional opportunities for promotion and visibility during broadcasts.
"With the defending Stanley Cup Champions residing in our home city of Las Vegas, we have a front-row seat to the excitement and passion that the NHL provides,” said Eric Hession, president of Caesars Digital. “This partnership extension with the league continues our efforts to build on that fan passion by bringing unforgettable experiences to all of our valued customers across both sports betting and online casino.”
NHL embracing sports betting
The deal comes in the wake of a continued push from the NHL to further embed itself within the iGaming and sports betting landscape.
In recent months, the NHL has also come to terms on agreements with betting giants such as BetMGM to extend their partnership, as well as forming a new partnership with PENN Entertainment, Inc., the corporation behind ESPN Bet in the United States and theScore Bet in Ontario.
As for Caesars Sportsbook, their parent company Caesars Entertainment recently reported a subpar Q4, reporting a net loss of $72 million in their February release. Despite underwhelming overall numbers, however, the company’s digital segment, specifically its online gaming and sports betting division, saw a near 30% year-over-year increase in revenues, burgeoning to $304 million and up from $237 million in Q4 of 2022.
“On our Q4 call last year, I talked about how the benefits of scaling net revenues in our digital segment would drive improved profitability given the high flow-through nature of this business," Hession said at the time in a conference call. “This transpired as strong revenue growth in Q4 and for the full year of 2023 led to several notable records within our digital business.”
