Itís not just NBA players who make money at casinos, some teams do so as well
A look at casino and corporate sponsorship in the NBA
When we talk of the NBA and casinos, the first thing that enter our minds is the image of some famous player taking a seat at a casino tables. However commonplace this image may be, the relationship between the NBA and casinos goes much deeper than that.
Letís look at the Cleveland Cavaliers as an example. In early-2013, SportsBusiness reported that the team started selling sponsorships for team owner Dan Gilbert, who also happens to own Rock Gaming. If you think the Cavs example is an isolated case brought about by the fact that they are owned by a casino magnate, think again. Again last year, the Portland Trailblazers renewed a sponsorship deal with Spirit Mountain Casino. The Memphis Grizzlies have also had deals with Isle of Capri Casinos.
One aspect of the gaming industry that hasnít yet infiltrated the NBAís corporate sponsorship arena is the online market. Online casinos are quickly becoming more and more common, as Dragonfish Total Gaming Services, the company behind the games on bubblebonusbingo.com, has already been hard at work developing games that can be played across a variety of platforms. People can soon expect to gamble on everything from their phones to the in-flight entertainment systems on commercial flights, and these brands will soon start making a mark on the NBAís myriad teams.
Casino sponsorships for NBA teams isnít as high-profile as those in major league baseball, but it is present. Itís not that surprising, really, when you consider that corporate sponsorship has long been a reality in pretty much all major league sports fields. Large corporations spend millions Ė and sometimes even billions Ė of dollars just to increase brand visibility by partnering up with popular sports teams.
According to data from Statista, sports sponsorship revenues worldwide have largely been on an upswing since 2006. In 2013 alone, it clocked in at $40.24 billion. During the lockout-plagued 2011-2012 NBA season, revenue loss was limited to only 7% despite its shortened 66-game length. This, according to Forbes, was largely a result of long-term media and sponsorship deals.
Will we be seeing something like the Mohegan Sun bar at Yankee Stadium soon? Perhaps not, but only time will tell.
By a guest writer - (This article has no affiliation with NBA-DRAFT.com and the opinions expressed are their own)