Caesars Sportsbook pulling back from advertisement
iBET ETF Insights: Caesars executives have stated that they will pull back from advertising and look more toward profitability. CEO Tom Reeg said, “You’re going to see our commercials largely disappear from your screens.” they still have some March Madness slots they could not get out of. Reeg also stated, “We have accomplished what we set out to do. We set out to become a significant player and it’s happened significantly quicker than we thought. And I think most of you know me as someone who’s not one to spend any money needlessly.” Caesars will start to develop their phone app to meet the standards held by other operators, like FanDuel or BetMGM. Additionally, we are in a bit of a vacum in sports right now. The NCAA Tournament will be the last big push for sports betting, thereafter the baseball season is now a question mark. Customer acquistion costs have also been the big story here and Caesars is looking to improve it’s current bottom line.