For the long haul: LSU has extended its athletics marketing and multimedia rights agreement with New York-based outdoor advertising agency OUTFRONT Media Sports Inc. through the 2025-26 season. According to a news release, the agency will continue to provide LSU’s corporate partners with single-source media sponsorship across all platforms including online, social, print, radio and others. The agreement also allows the university to access the agency’s out-of-home displays for out-of market communications. LSU has contracted with the agency for 11 years. Recent examples of the agency’s work for LSU include an integration of its billboard resources in Monroe and New Orleans for a Football National Signing Day campaign that was designed to welcome 24-signees to LSU. It also created the partnership involved in signing 3 Doors Down to perform with the LSU March Band during at the Nov. 28 football game. Read the full release.
Flooding impact: As a result of the closure of Interstate 10 between Texas and Louisiana due to mid-March flooding, L’Auberge Casino & Hotel parent company Pinnacle Entertainment says preliminary first quarter 2016 results show earnings before interest, taxes, depreciation and amortization, EBITDA, were negatively impacted by $2.9 million. The figure is the result of lost business volume at its Lake Charles casino. Pinnacle has yet to finalize its results for the first quarter results, but it expects net revenues to be between an estimated $577 million and $583 million. Total consolidated adjusted EBITDA is expected to be between $168 million and $174 million. During the first quarter, Pinnacle repaid $105 million in debt, with total principal in debt being $3.5 billion. Read the full preliminary report.
Slashed: Three of the world’s largest energy companies, all of which have plants or offices in Louisiana, had their credit ratings lowered by Moody’s Investors Service due to expectations that oil prices will stay low for longer and cause leverage concerns, FuelFix.com reports. Chevron Corp. and Royal Dutch Shell had their ratings reduced by one level, while Total SA’s was cut two steps, according to statements by the New York-based rating company on Friday. Chevron will generate negative cash flow amid rising debt for at least the next two years, while Shell will have elevated leverage following its acquisition of BG Group Plc, Moody’s says. Oil prices are expected to stay low through next year and continue to pressure Total’s operating cash flows and credit metrics, Moody’s says. Read the full story.
