Tiger Stadium, shown April 22, 2009, is home of the LSU Tigers football team. Photo courtesy of Wikimedia Commons
Sept. 17 (UPI) -- Louisiana State University and Caesars Sportsbook announced Friday that they entered into a multiyear sponsorship agreement that will make LSU the first school in the Southeastern Conference to form a financial partnership with a gambling company.
According to a statement from the university, the exclusive partnership is a "seven-figure deal." The school didn't disclose specifics of the pact.
The landmark agreement, which was facilitated by LSU's third-party multimedia rights holder, Playfly Sports, focuses on "unique fan engagement opportunities while expanding responsible sports gaming and education."
"LSU has always taken pride in providing fans with unique, innovative, and world-class experiences, and our new partnership with Caesars Entertainment will do just that," LSU athletics director Scott Woodward said in a news release. "We share a clear vision of how athletics and entertainment can come together to enhance the fan experience and we are excited to join with Caesars to make that vision a reality."
As part of its deal with LSU, Caesars Sportsbook will receive several marketing and sponsorship assets from the school, including naming rights for the new Caesars Sportsbook Skyline Club at Tiger Stadium and additional signage throughout the venue.
Caesars also will have signage at LSU's Pete Maravich Assembly Center (basketball) and Alex Box Stadium (baseball), and the deal gives the sportsbook a presence on the Tigers' mobile sports app.
There are no current plans to put a sportsbook inside Tiger Stadium or other LSU sports venues included in the agreement.
In a statement, Caesars Sportsbook said it is "committed to working with the Louisiana Association on Compulsive Gambling, regulators and the community to provide responsible gaming resources to all eligible sports bettors in the state."
The gambling company also said it won't market to students or fans under the age of 21 or "highlight gaming offers inside campus facilities."
In addition to providing a significant financial commitment to LSU, Caesars also has committed to creating an annual scholarship fund to support in-state LSU students.
"LSU athletics programs have always exemplified excellence, and at Caesars, we couldn't be happier to partner with such an iconic brand in college athletics," said Chris Holdren, co-president of Caesars Digital. "We have a proud legacy in Louisiana, and bringing LSU fans and alumni closer to the sports they love while also offering scholarship opportunities will help us build upon that."
The historic agreement comes as Louisiana, already home to multiple casinos, prepares to allow legal sports betting. The Louisiana Gaming Control Board currently is accepting casino applications for sports betting licenses.
Caesars also recently purchased the naming rights to the Superdome, the home stadium of the NFL's New Orleans Saints. The franchise's previous naming rights deal with German automaker Mercedes-Benz expired earlier this year.