CBS acting CEO Joe Ianniello, speaking at the Credit Suisse Annual Communications Conference in New York, said legalized sports betting has already brought millions into the company’s coffers and he expects revenue to keep growing.
“It’s an advertising play for us,’ he said. “It’s digital advertising, the demographics are very favorable, so we are leaning into that with our trusted brands — CBS Sports HQ, CBSN, ET Live.”
Sports betting is now legal in seven state and CBS has stations in two of them.
“And it’s already generating millions of dollars of advertising revenue for us” he said.
“As that expands, there is a huge advertising opportunity, particularly in local advertising,” he said. “But then more broadly, with our platforms, CBS Sports HQ or our CBS Sports cable network, and we own Sportsline, as betting becomes legal state by state, I do think there is a bigger platform opportunity. And we are having multiple discussions with several partners to make sure we get the opportunity right.”
Ianniello did not identify the companies the network is talking to, but said he expects opportunities to grow as more states bring sports betting online.
In another story involving CBS, the network and Poker Central have signed a deal to bring this year’s World Series of Poker to a much wider audience.
Poker Central will produce 41 days of live WSOP programming, including 25 days of coverage streamed exclusively on CBS All Access. Eight days of action will air on PokerGO, and another eight days will go out across both streaming platforms, the companies said in a oppress release.
CBS Sports Network will also broadcast highlights from its 25 bracelet events through CBSSports.com, the CBS Sports app, and CBS Sports HQ.
“The World Series of Poker, which is the pinnacle of the game, will be a fantastic addition to our digital and cable channels,” said Dan Weinberg, executive vice president of programming in the release. “We’re very pleased to bring this engaging content to poker fans across platforms.”
The WSOP launched on May 28 and runs through July 16. ESPN is known for televising the Main Event of the WSOP, but preliminary events before the final championship have had much less airtime in the past.
