Caesars Sportsbook announces partnership with Memphis Grizzlies
August 4, 2022
Caesars Entertainment, a casino and entertainment company, announced that it will sponsor the Memphis Grapplies during the NBA season.
Chris Holdren, the company's digital co-president, said that the partnership with the Grizzlies is an excellent opportunity for the company to connect with the fans in Tennessee. He noted that the team is an exciting young organization and that it is an essential part of the company's business.
"The Memphis Grizzlies are an exciting young NBA team and it's great to announce this partnership ahead of what should be a special season for the franchise," said the Co-President. "Tennessee is an important state for us, filled with passionate sports fans."
The multi-year deal provides Caesars Entertainment exclusive access to the Grapplies' merchandise, the team's logo, and game-day promotions. It also allows the company to create a gaming lounge inside the FedEx Forum, the team's home.
The company's presence in Tennessee was also critical in its negotiations with the Grizzlies. It also wanted to provide the team's fans with experiences they've never experienced.
The company's partnership with the Grizzlies allows it to strengthen its connection with the community through the legacy of its nearby property, the Horseshoe Casino. He noted that the partnership will enable the company to reach out to more fans and provide them with unique experiences.
The partnership also coincides with the team's rise to prominence. Last season, the team was able to secure the second seed in the Western Conference playoffs. It was the franchise's 56th win, which tied the record for most in a single season.
One of the team's most prominent players is Ja Morant, a talented point guard who plays with an alien-like skill set. His ability to keep the team in the news and increase its visibility will help boost the team's visibility.
Team President pleased with partnership
Team president Jason Wexler was pleased when the company announced its partnership with the Grizzlies. He noted that the partnership with Caesars Entertainment will allow the company to develop and deliver the best possible content for its customers. It also allows the company to work with the local media company, Grind City Media.
"We also look forward to the opportunity to welcome our fans to FedExForum to visit the newly rebranded Caesars Sportsbook Lounge to watch their favorite sports programming or for hosting a private event," said Wexler.
Sports betting has become more common in the US, with several professional sports teams and arenas partnering with online gambling companies. During the recent legislative battle in Missouri, the owners of the state's professional sports teams worked together to help pass legislation that allowed sports betting.
Other sports have also started to catch up with the growing popularity of sports betting. DC United, a Major League Soccer team, became the first professional organization to allow betting operators to enter its facilities.
The NBA is also seeing a boost in viewership due to the increasing number of games. During the season, the Golden State Warriors and the Boston Celtics reached an average of 12.4 million viewers each. This was significantly higher than the previous two seasons' Finals, which only got around 10 million viewers.
It's believed that the increasing number of games and the league's parity have contributed to the viewership growth. The Memphis Grapplies are among the many teams that have jumped to prominence.