A momentous change
While the exact value of the deal wasn’t disclosed, SportsBusiness sources suggested that it was one of the five most lucrative naming-rights deals for an NHL arena.
In addition to hosting the Wild’s games, the Xcel Energy Center in downtown Saint Paul hosts more than 150 sports and entertainment events annually. That includes concerts, comedy shows, monster truck rallies, church gatherings, and more.
The 18,000-seat, $130 million arena opened in Sept. 2000. Xcel Energy paid $3 million per year for a 25-year naming-rights deal.
The Mille Lacs Band, operator of the Grand Casino Mille Lacs and Grand Casino Hinckley, said that renaming the energy mirrored the group’s growth in the gaming industry.
This is more than a name change — it’s a signal of where we’re headed as a business,” said Grand Casino CEO Ronda Weizenegger. “Grand Casino Arena represents the strength of tribal enterprise, and our ongoing investment in Minnesota’s future. We’re proud to partner with the Minnesota Wild to bring this vision to life.”
Xcel Energy, which has a market cap of about $39.3 billion, will continue as a partner of the Wild in an unknown capacity.
Betting sponsors continue to flourish
The first NHL team whose stadium rebranded after a gambling partner was the Arizona Coyotes. In 2014, their deal with the Gila River Indian Community saw their home stadium renamed after the tribe, though the Coyotes left after the 2021-22 season.
Mille Lacs Band Chief Executive Virgil Wind said that naming-rights deals are a “bold step” to get past the confines of traditional advertising.
“This will put the Grand Casino brand in front of millions of Minnesotans and visitors every year at hockey games, concerts, and major events,” he said. “Traditional advertising isn’t enough anymore if we want Grand Casinos and the band’s economic future to thrive.”
The majority of Minnesota’s retail casinos are tribally-owned. According to 500 Nations, 11 federally-recognized tribes oversee 21 casino locations.
The Mille Lacs Band contributed more than $1.1 million in taxes in 2024 to local counties, Mille Lacs Corporate Ventures announced. The company has a goal of reaching $1 billion in revenue by 2030.
