The deal would give Caesars naming rights to the stadium for the next 20 years. The Superdome, which is currently sponsored by Mercedes Benz, is home to the NFL’s New Orleans Saints and regularly hosts major college football bowl games.
The Saints would earn $10m annually from Caesars as part of the contract. The deal would go into effect in July.
If officialized, Caesars would become the first gaming company to receive naming rights to a major professional sports stadium in the United States. The Miami Dolphins previously sold their stadium naming rights to Hard Rock.
Caesars is significantly growing its presence in the New Orleans market. Last year the company announced it would rebrand Harrah’s New Orleans under its name and give the casino-hotel a $325m renovation.
Caesars will add a 340-room hotel tower above the existing casino, offer new culinary and hospitality establishments and give property a full exterior and interior facelift. The project is excepted to be completed by 2024.
At the time of the announcement, Caesars CEO Tom Reeg said, "We are excited to introduce Caesars New Orleans to the city," said Tom Reeg, CEO of Caesars Entertainment. "As the only land-based gaming operator in the city, we take great pride in our 20-year history in New Orleans, and this reinvestment is a testament to our continued commitment."
