Gambling 25 2024

The annual report on the most valuable and strongest Gambling brands

Brand Finance Gambling 25 2024

Gambling brand values surge across the industry as Singapore's Marina Bay Sands jumps to the top

Marina Bay Sands Soars to New Heights: Now the World's #1 Gambling Brand with $6.2 Billion Valuation

Marina Bay Sands has emerged as the world’s most valuable brand in the global gambling industry. This shift is highlighted by an 89% increase in brand value, reaching USD6.2 billion, and an improvement in brand strength from 86.83 to 91.81, becoming one of a  handful of brands in any industry to achieve an AAA+ strength rating. Marina Bay Sands has risen from its previous ranking of 5th most valuable gambling brand to now be the world’s #1. The resort's status as a key landmark in Singapore, akin to iconic structures like the Eiffel Tower or Sydney Opera House, contributes to its brand identity. 

Henry Farr, Associate Director at Brand Finance, said:

“The unique positioning of Marina Bay Sands, combining its role as an iconic landmark with its commercial success, distinguishes it within the industry. This dual aspect of the brand contributes to its distinct market identity.”

Brand Finance research has found that this recognisability supports the brand's market extremely high familiarity rating, despite significant segments of the Singaporean community not participating in gambling activities due to religious and cultural factors.

In the Singaporean market, research by Brand Finance indicates a strong reputation for Marina Bay Sands, with a high proportion of locals familiar with the brand expressing a willingness to use its facilities. This domestic strength contributes greatly to the brand's  overall success. A key factor in the brand's value growth is the capacity of the brand to achieve significant revenue diversification. Beyond its primary casino operations, Marina Bay Sands encompasses a hotel, shopping centre, restaurants, and entertainment facilities. This diversification strategy extends the brand's market reach and helps mitigate potential industry-specific risks.

FanDuel's Winning Streak: Brand Value Leaps by 67% to $5.6 Billion, Securing 2nd Place in the Gambling Industry

FanDuel has exhibited substantial growth, with its brand value soaring by 67% to reach USD5.6 billion. This remarkable increase has elevated FanDuel from 4th to 2nd in the industry rankings, reflecting its growing prominence and influence in the gambling sector.  Additionally, the brand's strength has improved, rising from 74.41 to 77.73, and achieving an AA+ rating, signifying a robust and healthy brand status. 

The revenue growth of FanDuel, a key factor in its rising brand value, is estimated based on the H1 and Q3 reports released by its parent company, Flutter. In 2022, Brand Finance estimates that FanDuel generated over USD$3 billion in revenue, marking a substantial 62% increase from the previous year. This growth highlights FanDuel's successful strategies and its strong market presence. In terms of market share, FanDuel has established itself as a dominant player. The brand is now the gross gaming revenue (GGR) market leader in 15 of the 18 states where it offers mobile sports bets. Impressively, in seven of these states, FanDuel commands more than 50% of the GGR market share. This dominance in multiple states underscores its widespread appeal and  effective market penetration.Flutter, the parent company of FanDuel, anticipates substantial long-term growth for its US business. They project revenue to increase by 4.5 to 5 times, potentially  reaching around $15 billion. This optimistic outlook is supported by FanDuel's 42% share of the sports betting market in the United States, a market that has rapidly expanded following the introduction of local regulatory regimes on a state-by-state basis.

In terms of brand perception, FanDuel has seen a significant boost in familiarity and consideration among consumers. However, these jumps in brand perception metrics are not as pronounced as those seen by DraftKings, indicating a slightly different trajectory in  brand development and consumer engagement. 

DraftKings Races Ahead: Brand Value Skyrockets to $3.2 Billion, Climbing to 4th in Industry Rankings

DraftKings has emerged as the fastest-growing brand in the gambling industry, more than doubling in brand value to USD3.2 billion. This growth has seen DraftKings leap from the 13th to the 4th position in brand rankings. The increase in brand value was driven by a significant increase in brand strength, and also future revenue projections. DraftKings has achieved a big brand strength rise from 60.63 to 72.26. Brand Finance research indicated a substantial increase in both consideration and familiarity for DraftKings. These improvements in brand perception and market presence are critical components of the brand's overall growth and are indicative of its strengthening position in the market.

Revenue growth at DraftKings has been significant, with big increases throughout the last year. This growth is primarily attributed to the strong performance of their Sportsbook and iGaming product offerings, bolstered by effective customer acquisition and retention strategies, expansion into new jurisdictions, and improved promotional investment in these areas.

Caesars' Remarkable Comeback: Brand Value Jumps 68% to $2.2 Billion, Achieving AAA- Rating

Caesars has achieved remarkable growth this year, with its brand value surging by 68% to reach USD2.2 billion. This significant advancement has propelled Caesars from the 16th to the 7th position in the industry rankings. The brand’s strength has also seen a substantial rise, moving from 66.45 with an AA- rating to 79.72, achieving an AAA- rating. This growth is a testament to Caesars' strategic advancements and its increasingly strong position in the gambling sector. With all Caesars properties now operating in a post-COVID environment, Brand Finance research has found that Caesars' brand strength has been boosted by marked increases in brand familiarity and consideration. These elements are crucial as they directly impact consumer choice and loyalty, contributing significantly  to the brand’s overall strength and market position. Caesars has reported a better-than expected performance on revenue, reflecting a robust operational strategy and effective market engagement.

Consumer demand appears to remain strong for the various products, underscoring the brand's positive trajectory and its optimistic outlook for the future. This trend indicates a broader market recovery and expansion within the gambling industry. Additionally, Brand Finance’s research includes considering non-gambling activities, especially with the recovery in banquets and conventions, increased international visitation, and strategic initiatives in food and beverage offerings focused on improving operating margins and product mix. The resurgence in live entertainment events following COVID-19's  impacts also contributed to this growth.

bet365 Faces Headwinds: Brand Value Dips to $2.8 Billion Despite Strength Improvement

bet365, last year's leader, has experienced a notable decline in brand value. The brand's value decreased by 29%, bringing it to USD2.8 billion and resulting in a drop from 1st to 6th place in the rankings. Despite this decrease in brand value, bet365 saw an improvement in brand strength, climbing from 78.42 to 82.32.

The primary reason for the decline in bet365's brand value is attributed to a fall in operating profits. While the company's revenue only dropped by 2%, its profits  plummeted dramatically, falling by 90% compared to the previous year.  This significant decrease in profit is largely due to higher customer acquisition costs in new markets. These expenses were driven by advertising costs in new markets and investments in additional computing resources needed for expansion.

Moreover, bet365's workforce expanded substantially, from 5,400 to over 6,000 employees to support product launches in Buenos Aires, Colorado, Ontario, and the Netherlands. Despite the decline in brand value, bet365's brand strength showed a positive trajectory. Brand Finance research found that bet365's familiarity remains extremely high, suggesting that the brand still holds a strong presence in the minds of consumers. However, there was a marginal drop in consideration for bet365, which was partially offset by the brand's high volume premium and promotion scores. These scores indicate that while there may be slight hesitancy in consumer consideration, the bet365 brand continues to maintain a significant premium in the market and is broadly successful in its promotional effort.