UPDATE 1-Caesars Entertainment, ESPN tie-up for sports betting content
The deal includes building a new ESPN-branded studio at the LINQ Hotel & Casino in Las Vegas, where sports betting-themed content will be created, along with segments for ESPN's recently launched sports betting-related show, Daily Wager. Caesars' data and branding will also be integrated across ESPN programming within the coming weeks, the company said.
Bleacher Report (B/R) struck a similar deal in February to open a production studio inside Caesars Palace. B/R is a division of WarnerMedia, which is owned by AT&T Inc. Tuesday marks one year since the U.S. Supreme Court overturned a 1992 federal ban on sports wagering outside of Nevada. States can now pass legislation that legalizes, regulates and taxes the activity.
Eight states currently offer sports wagers, but several others have already approved legislation and even more are considering it. Media companies have been experimenting with creating content and alternative live-streams to include discussions about betting and odds. One media company, theScore, plans to launch its own sportsbook.
And FanDuel, a unit of Paddy Power Betfair PLC, said last month that it will start streaming some live games on its mobile app through a deal with Sportradar AG, allowing wagers right from the screen. The new American market is also a huge opportunity for media companies, leagues and teams to cash in on sportsbook operators' need to reach betters through advertising and marketing.
On Tuesday, U.S. casinos agreed to a code of conduct for responsible marketing of sports betting, including limiting ads to adult audiences. A deluge of betting ads backfired in the UK, where online bookmakers have now agreed to not advertise during games out of concern about the impact on children. (Reporting by Arjun Panchadar in Bengaluru; Additional reporting by Hilary Russ in New York; Editing by Shounak Dasgupta and Tom Brown)
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