LSU axed the deal it had with Caesars Entertainment. As a result, the latter can no longer advertise sports wagering on the Baton Rouge campus. Also, providers expected pay per head bookie to last longer than two years.
The 2021 deal gave Caesars the right to place signs in Tiger Stadium. Also, it can name the new club seating arrangement located at the south end zone. According to gambling news reports, they called it the Caesars Sportsbook Skyline Club. It has a seating capacity of 1,500 and features a buffet with an option to buy wine and beer.
Most students who see the ads are not old enough to legally wager on sports in the state. Thus, the deal faced criticism from professors and students. Critics were worried about high addiction rates, underage betting, and students wasting money on the activity.
LSU Axed the Deal with Caesars
This week, State Senator Gary L. Smith (D-19) introduced legislation making it illegal for postsecondary educational institutions to enter promotional partnerships with gambling firms. The legislature approved the law, and it is now in the hands of Governor John Bel Edwards. Capone said the conversation about terminating the arrangement started in March when the law was first suggested.
A few days ago, Smith announced that the university would terminate its partnership with Caesars. On Thursday, it was verified by Cody Worsham, who serves as the chief brand officer for LSU Athletics.
The American Gambling Association recently revised its marketing standards to include prohibiting gaming companies from establishing contracts with educational institutions. As a result, in addition to the University of Louisiana at Lafayette, the University of Maryland and Michigan State have terminated their partnerships with various sports betting organizations.
According to Capone, all Caesars signage should have been removed from the campus by the beginning of the second month.
The National Council on Problem Gaming estimates that in any given year, two million adults in the United States meet the criteria for having a severe gambling problem and that four to six million adults are considered to have gambling problems that are either mild or moderate.
According to studies, most people prefer to gamble responsibly. On the other hand, a subset of people is more likely to develop gambling problems. It is easy to become a bookie in 5 steps. Nevertheless, it would be best if you encouraged appropriate gambling behavior among your gamers.