Caesars Entertainment will cut back on advertising spending for its sports betting division, CEO Tom Reeg said Tuesday on a fourth-quarter earnings call. For consumers, that means there could be fewer of those all too familiar commercials involving JB Smoove, Halle Berry and more recently the Manning family.
“You are going to see us dramatically curtail our traditional media spend, effective immediately,” Reeg said. “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.”
According to Reeg, Caesars Sportsbook held 21% of the United States sports betting market through last month after previously being “an afterthought in the market.”
