Caesar promises to reduce the cost of advertising bookmakers

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JB Smoove, the star of the Caesars Sportsbook brand, is speaking during an event dedicated to the opening of the Caesars bookmaker at Chase Field in Phoenix.

NETWORK OF THE REPUBLIC OF ARIZONA-USA TODAY

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Caesars Sportsbook showcased one of the most unique advertising campaigns compared to other bookmakers, with JB Smoove being the headliner as a spokesperson who promoted the company’s sports betting offerings through Roman-themed advertising.

TV commercials included Peyton, Ellie and Archie Manning in addition to other episodic celebrity roles.

Caesars announces change of plans for advertising

While this ad has been significant, don’t expect much more advertising from Caesars in the future.

“You’ll see how we’ve drastically reduced our traditional media spending immediately,” said the CEO of Caesars Entertainment Inc. Tom Rigg during the earnings report on Tuesday in the fourth quarter. “We did what we set out to do. We decided to become a significant player and it happened much faster than we thought. And I think most of you know me as a person who is not one to spend money unnecessarily.

“We’ve got to where we need to be. You’ll see that our commercials pretty much disappear from your screens … There are some media costs that we haven’t been able to get around from coming to the March Madness in several states, but we’ll mostly abandon traditional media other than new ones launch of the state from here and launch dates in both iGaming and sports ”.

According to Riga, Caesar accounts for 21% of total sports betting in the United States in January. This includes larger pen markets such as Pennsylvania and Illinois, where Caesars holds only 1% and 2% market share since they have not yet released the Liberty brand.

“Note, I do not choose markets where we are doing well, and I leave markets where we are not,” said Rigg. “It exceeded our expectations.

“Initially, of course, we had market share expectations. We have already surpassed them. So what you will see from us as we move forward is you will see how we move towards profitability. ”

Revenues are reported to be sold in Gaza

Caesars reported a net loss of $ 434 million on net revenue of $ 2.6 billion for the three-month period ended Dec. 31. In the fourth quarter of 2020, Caesars lost a net loss of $ 555 million with revenue of $ 1.6 billion.

Caesars ’total revenue for 2021 was $ 9.6 billion, almost three times the revenue it had in 2020. The company reported a net loss of about $ 1 billion for the full year.

Caesars also remains open for sale on one of its properties on the Las Vegas Strip. Its Las Vegas Strip resorts include Caesars Palace, Paris Las Vegas, Planet Hollywood, The Cromwell, Flamingo, The LINQ, Harrah’s and Bally’s.

“The next time we talk to you about selling Strip’s assets, we’ll announce the sale,” Rigg said during the interview.

Responsible gambling

Always play the game responsibly. All licensed and legal operators in the United States have resources available to bettors, including educational guides on how to detect problematic games, links to support services, and tools for self-exclusion for a period of time. Support is available at National Council for Problem Games, 1-800-HAMBLER and American Addiction Centers. Be sure to bet only on licensed gambling sites and regulated by the gambling regulator in your state. This guarantees the fairness of the games, the execution of bets, the security of customer funds and legal protection of the consumer.

Sports betting and gambling are not legal in all places. Be sure to follow the laws that apply where you live.

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