How did the Caesars become masters of their own destiny?

How did the Caesars become masters of their own destiny?

At a certain age and life stage, you begin to think about birthdays less in terms of your own development and more in terms of the people around you. While I’m going to enjoy my raspberry flourless chocolate cake tonight (my wife Denise bakes something awful), this morning a book came to my attention from Amazon yesterday.

It’s not a Florida mystery I’ve rediscovered. Or another baseball book. Or one of the many “99 Must-Read Books” I haven’t gotten yet.

This is the US News Best Colleges guide. How did we get to this point from AA Milne?

This week’s SBJ Brand Innovation Summit in Chicago included a presentation from Caesars Sports CMO Sharon Otterman outlining how the company rebranded the William Hill sportsbook and launched it behind a hard-to-miss national ad campaign in just 99 days.

You couldn’t miss the long-awaited, all-powerful arrival of Caesars – but it’s easy to forget how quickly the company had to execute, first handcuffed by the complications of the largest merger between US casino companies and then by the UK. Purchasing rules forced him to stay away from William Hill for the nearly seven months it took to complete this transaction.

When things settle down, football season is less than four months away.

As a recurring cue to count down the days, Otterman added the beeping sound of the familiar countdown from Kiefer Sutherland’s frontline Fox show “24.”

“I used to love this watch until my heart felt like this for 99 days,” Otterman said. “As the CMO of a brand new division in a newly acquired company, that’s how we felt the entire time.”

The presentation took the audience step-by-step through Caesars’ approach and timeline, highlighting key decisions the company made in wrapping its acquisition of William Hill at the end of April last year, more than three months into football season. . FanDuel and DraftKings combined about 60% of the US market share, while Caesars had unaided brand awareness of just 2% as a sportsbook. “We had an established competition, nobody knew who we were, and we had 90 days,” Otterman said.

Otterman took attendees off the fast ramp for Caesars Sportsbook

One of the more interesting stories Otterman shared summed up the hiring of Ten6 ad agency, which won the job by taking an unconventional approach to the Caesars’ eight-hour pitch slot hosted upstairs from the newly-branded retail sportsbook in Capital One in DC. Centre.

Headed by Spence Kramer, whose previous stops include JWT Atlanta, ESPN, and Wieden+Kennedy (on Nike and Coca-Cola accounts), Ten6 won the job on a pitch Otterman had never seen before and showed up with the production company. work together if he gets the job. “Not just coming up with a concept, but coming in with a production company and being there, we are ready not only to say we will create the great concept for you, but we are ready to bring it to life,” Otterman said.

With just 67 days left to its August 2 launch date, Ten6 has determined it’s ready to go. “At most agencies I work with, it takes more than 99 days to even complete the procurement process,” Otterman said, “much less than hiring an agent, hiring them, and having a clear concept and opportunity.”

The risk-free offering is mandatory for any sportsbook waiting to be considered in the hyper-competitive US market. Caesars had one, as did William Hill before. However, as NFL season approaches, the NFL has managed to return to its brand positioning in a way few people have, by rewarding punters who bet $100 or more on NFL games to spend on a jersey at its online store.

The sportsbook offered notable risk-free bets of up to $5,000 in some states, but the spread offer set it apart for many punters with first-time deposits much lower than that. “From a promotional standpoint, the business is about the risk-free $500,” Otterman said. “Bet on this, get this. We did it because you have to do it in this arena. But we also know that you have to start the NFL season with a jersey. So our promotions were about winning hearts. We would bet $100 and get an NFL jersey because that was important to us.”

The publicity was linked to positioning the Caesars brand as a sportsbook for people – in this case, fans. The origins of this positioning can be traced back to surveys of sports bettors the company conducted in search of a differentiator. “One of the things that shocks us the most is that most sports bettors feel underappreciated and unrecognized,” Otterman said. Said. “It comes from Caesars Entertainment, a hospitality company that sounds unheard of to us. But customers felt it was transactional. I deposit my money. I’ll withdraw my money. It felt more like a bank than a fun entertainment experience.”

Nearly a year after affiliate marketing firm Gambling.com Group went public on the Nasdaq through an IPO, founder Charles Gillespie sat on the porch of a Charlotte coffee shop considering the tides of a turbulent year for many U.S.-linked stocks. Sports Betting.

“What’s clear to me is the incredible disconnect between the stock market and the reality of the actual business,” said Gillespie, whose company started trading at $8 per share last July and went up to $15. Its IPO is trading at $9 at closing Thursday. “The business is far, far, far ahead of where it was at the time of the IPO. We’ve made two great acquisitions. Our core business has grown like a weed. We put big time into all our plans. And yet the share price is where it was when we went public.

“Given what’s going on with multiple IPOs and some other stocks that are below last year’s share prices. [in the sector]I am grateful that we had a relatively good result compared to many.”

Gambling.com’s business is affiliate marketing, which operates websites that are optimized to find people on the web looking for the best way to bet on a game or visit an online casino. When these searchers follow a link to a sportsbook from one of the company’s many URLs, Gambling.com collects a commission – typically $250 to $500 for each customer who signs up. Deals vary greatly with commissions based on the player’s probable or sometimes realized value.

“I would argue that what they pay us is the highest ROI investment for anything they can do, because it’s being fully tracked and they won’t do it unless the ROI is positive,” Gillespie said. “Radio and television are expensive. What we do is not expensive. They pay a lot for it because they get so much value for it.”

Gambling.com Group sites delivered 67,000 new depositors to sportsbooks in the first quarter of the year; This is a company record that doubled the same quarter from a year ago. Revenue rose 70% to $19.6 million for the first quarter from the same period in 2021, with North America reaching $10.6 million from $10.6 million of that.

Gillespie said last year’s $27.5 million acquisition of well-known fantasy news site Rotowire adds an “incredibly strong SEO presence.” The staff has grown to nearly 300, and about a third are in the United States, with offices in Charlotte and Madison, Wis.

“Many investors are asking – who will be the winner? Who will win the US market,” said Gillespie, who is from Charlotte and now splits his time between offices in Dublin and Monaco, is now alive. “Well, no one will win. It will be very fragmented. If you want exposure to this space without having to choose a winner, we offer this very elegant way of exposure to the secular growth of this industry without the risk of blowing it up and choosing the leader. This has had a lot of resonance for our business. ”

Gambling.com went public on the Nasdaq around this time last year

The first states to report May results showed the expected downward trend as summer approaches and the betting menu weakens. Arm totals in New Jersey and Iowa fell 17% from April, while Pennsylvania ($493.4 million) and Indiana ($308.4 million) fell 14%. New York ($1.27 billion) fell 9%; Oregon ($41.7 million) fell 3%.

Yet it took an unexpected turn in New Jersey. All states continued to improve their performance in the same month in 2021, as control dropped from March to April and then to May. Iowa is up 29% from May 2021. Indiana is up 21% from last year; Pennsylvania up 10%

But New Jersey not only fell from last month, the May price was down 6% from that month last year.

While this may be taken as an indication of slowing wildfire growth in the state, a closer look reveals that it may be more specific to the betting menu. Baseball bets rose 4% to $193 million. And $1.8 million in spring football bets created something out of nothing fueled by the USFL reboot.

But basketball bets, almost entirely NBA, fell 13% in May. While New Yorkers’ ability to bet from their newly discovered seats may have played a role, the home teams – or their absence – are more likely to blame. The Knicks missed the playoffs this year and the Nets were swept away by Boston in the first round. Last season, the Knicks made the playoffs and the Nets won their first-round series.

  • Streaming service FuboTV will launch free-to-play selection contests integrated into the platform’s home screen this weekend, laying the groundwork for what it describes as a single-screen experience that allows fans in legalized states to place bets on the games they play. they are watching.
  • BetMGM has entered into a new deal with Carnival for sports betting and iGaming experiences on more than 50 cruise ships with ports in the USA, which includes Carnival Cruise Line, Holland America and Princess Cruises. BetMGM’s platform will be rolled out in stages over the coming months.
  • Fan engagement platform Tally Technology has just completed a $4 million initial funding round led by Acies Investments, says my colleague Chris Smith. Co-founded by Russell Wilson in 2018, Tally offers partners with free-to-play predictive games and sports facilities to gather fan participant data and insights.

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