The gaming industry is in a competition of its own, sparing no expense to bring in gamblers from all walks of life. Stagnant revenues are pushing casino owners to increase sponsorships of all types of festivals, events, and sports competitions, including racing championships.
While gaming revenue is growing, it’s slow growth compared to 20 years ago. The problem is new casinos are prevalent in every market. Hoping to stand out from the competition, casinos continue to increase sponsorship spending.
More than 80 percent of sponsorship dollars go toward sports. Energy Casinos, an online casino, sponsors a racing car team. It’s an effort to increase name recognition and draw customers to convenient online gambling. As a part of its pitch, the casino offers VIP tickets to its team’s championship racing events. Casinos often use the sponsorship as a way of introducing the casino games to a new audience. It’s a part of the business plan, like online-casinos.ie, increasing customers to make a profit. Ireland recently banned casino sponsorships to fight gambling addiction.
In 2018, Foxwood Resort Casino signed on to sponsor the New Hampshire professional NASCAR race in the United States. It’s an ongoing partnership designed to leverage the popularity of NASCAR racing to bring in additional customers and revenue. One race will bear the Foxwood Casino’s name. It’s an expansion of the existing ticket incentive the casino promotes to lure customers. This partnership goes beyond incentivized gambling to affiliate the casino with fun activities. Last year, they announced a new indoor kart track.
These high-cost expenditures target non-local traffic. Casinos are turning up the heat to increase revenues. Using cross promotions as a tool, they are reaching out to customers in new and creative ways. Affiliating with other big-name brands is just one way to make the casino’s name resonate with potential gamblers throughout the world. Casinos hope the name recognition will make them the establishment of choice for gamblers.