The Las Vegas Convention and Visitors Authority has signed an agreement to become an official marketing partner of the Breeders’ Cup World Championships.
Under the terms of the deal, the authority will get multiple commercial units on NBC Sports Network’s broadcast of the annual horse racing event, which will be run at Santa Anita Park on Oct. 31 and Nov. 1. Additionally, it will receive on-site signage and hospitality, and the Breeders’ Cup 1 3/4-mile race on dirt will be renamed the Las Vegas Marathon.
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The 1 3/4-mile race will be renamed the Las Vegas Marathon as part of the marketing partnership.
Photo by: GETTY IMAGES
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Financial terms of the agreement were not disclosed.
The agreement is a one-year deal, but the Breeders’ Cup is looking to expand it because Las Vegas is an important market for the sports property, Breeders’ Cup Chief Marketing Officer Drew Sheinman said.
“We wanted to get a deal done for this year, let them really experience the Breeders’ Cup, understand it, and we will start the conversation for the future at this year’s Breeders’ Cup,” Sheinman said.
The Breeders’ Cup approached the authority about the deal, Sheinman said. “We could have done it with hotels and casinos, but instead we pursued the [authority] as the kind of overriding association that represents a variety of interests in Las Vegas. So what we get is the direct connection to Las Vegas that allows us the brand visibility into multiple properties, and that is of great appeal to us.”
The deal has the potential to generate an unusual benefit for a sports sponsorship — increased wagering on the two days of racing.
Last year, of the $163.5 million total Breeders’ Cup handle, about $7 million was wagered in Nevada, and about $5 million of that was bet in Las Vegas casinos. “The opportunity to increase what is already a significant amount of wagering — we believe there is a great opportunity to increase that amount — by putting our market focus in place,” Sheinman said.
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Coyle
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The Breeders’ Cup gets a slice of the amount wagered on the two days of races, although Sheinman declined to reveal the percentage.
The Breeders’ Cup is a big event already for the city of Las Vegas, as many of the resort hotels and casinos have been throwing Breeders’ Cup-themed parties and inviting their best customers for the event for years, said Caroline Coyle, the authority’s vice president of brand strategy.
“It’s a great marriage,” Coyle said. “We try to align ourselves with common brands with common goals, and we think the Breeders’ Cup really provides us with a global reach and world-class entertainment.”
The authority was interested in the deal as a way to promote Las Vegas as a destination to the Breeders’ Cup global audience both on television and at the event, which includes wealthy individuals and high rollers.
“It goes beyond money,” Coyle said. “It’s all about building relationships for Las Vegas.”
As part of the deal, the authority will have a hospitality area for some of its best customers at Clockers’ Corner, which overlooks the stretch at Santa Anita Park, in Arcadia, Calif.
“We are going to be hosting up to 50 clients there, customers of Las Vegas,” Coyle said. “And what they are going to experience is a little bit of Las Vegas in Arcadia at Santa Anita. They will have the glamour, excitement, celebrity component, great dining options, great high fashion and great fun.”
