Genting enters the arena as NEC Group announces second major sponsorship deal
THE NEC Group has announced its second major sponsorship deal in a month for the naming rights to its showpiece venues.
The group, which is currently up for sale (although a buyer is expected to be revealed before the end of the year), has announced that following Barclaycard’s deal with the NIA, casino operator Genting UK – which is building a multi-million pound resorts complex next to the NEC – is to take over as the official sponsor of what is now called the LG Arena.
The deal, which comes into force in January, will see the concert venue become known as the Genting Arena. The agreement with the company will apply for the next 10 years.
The NEC Group said the deal enhanced its already successful partnership with Genting and would raise the casino operator’s profile both regionally and nationally.
The Genting facility, which will be known as Resorts World Birmingham, is set to open next spring and will be the UK’s first fully-integrated destination leisure and entertainment complex.
Genting said that the arena deal in addition to driving brand awareness supported its strategy to position the Genting name beyond that of a purely gaming focussed business to a major provider of entertainment and lifestyle experiences.
Paul Thandi, CEO of the NEC Group, said: “This is a genuinely exciting development in the relationship between the NEC Group and Genting UK. We see the Genting UK partnership as a natural fit for the NEC Group, not only because of the link with Resorts World Birmingham, but because we both put the customer experience at the heart of what we do.
“The powerful combination of our knowledge and experience in the arena business with Genting’s proven expertise in the global leisure market will strengthen the offering of the Arena to both promoters and customers and importantly continue to build its reputation as one of the world’s top entertainment venues.
“The sponsorship will provide clear opportunities for the Arena and Resorts World Birmingham to provide content, experience, retail and leisure possibilities for both sets of customers and of course those customers using both experiences. In doing so we hope to begin delivering an impressive twenty four seven leisure and entertainment destination for all future customers.”
He said the deal also portrayed the NEC Group in a positive light to would be buyers and demonstrated the organisation’s ability to attract big name sponsorship and investment.
While companies may be attracted to the business because of this, it is highly unlikely that any fresh bidders will now emerge.
Thandi said at the Genting announcement last night that a deal to complete the sale of the group was near, with final due diligence now being completed.
There has been speculation that the group – which comprises the NEC, LG (Genting) Arena, ICC and Barclaycard Arena (NIA) together with ticket agency The Ticket Factory and catering arm Amadeus – will be sold as a single entity, possibly to a large private equity company.
On the latest sponsorship deal, Peter Brooks Genting UK President and Chief Operating Officer said: “We are delighted that from January 2015 this superb venue will be known as the Genting Arena. Over several years, in parallel with developing Resorts World Birmingham we have been working closely with the NEC Group and enjoyed a very productive partnership. The sponsorship of the Arena is a very strong symbol of that working relationship and of the exciting opportunities that lie before us to further enhance and develop the experiences of visitors to the NEC.”
The Arena first opened in 1980 as the NEC Arena and was later transformed into the LG Arena following a £29m refurbishment in 2009. It has gone on to become one of the world’s top entertainment arenas hosting over 100 shows per year and attracting nearly one million visitors a year. LG Technology’s sponsorship deal expires at the end of 2014.
