The Las Vegas-based company will pay $138m for naming rights of the sports stadium, which will now go by the name of Caesars Superdome. Caesars will have naming rights for the next 20 years.
The Superdome is home to the NFL’s New Orleans Saints and hosts college football bowl games the Sugar Bowl and New Orleans Bowl.
"Today the Louisiana Joint Legislative Committee on the Budget (JLCB) approved the naming rights convention for the Superdome,” said Greg Bensel, senior vice president of communications and broadcasting for the Saints. This approval was a procedural step in securing the naming rights for the Superdome and now we move to finalize our partnership agreement," "Once that is official, we will have a formal announcement."
Caesars signage is expected to be in place by the Saints’ first regular season game on September 12, according to NOLA.com.
The naming rights agreement comes as Caesars embarks on a $325m renovation and construction project of Caesars New Orleans, the only land-based casino in the city.
Renovation plans include a new 340 room hotel tower, new culinary and hospitality offerings within the casino and full exterior and interior architectural and design enhancements.
Construction is expected to be completed by 2024.
The naming of Caesars Superdome also coincides with Louisiana’s anticipated launch of daily fantasy sports and sports wagering.
DFS is expected to soon go live in approved parishes, while sports betting could launch as early as this fall.
Voters in 55 of 64 Louisiana parishes approved a sports betting referendum in November 2020. DFS and sports betting will be geofenced to exclude the nine parishes that did not vote for the referendum.
