US-based brand, FanDuel, saw a 259% brand value growth this year, soaring to fourth position in the annual Brand Finance Gambling 25 2023 ranking with a brand value of USD3.4 billion. This makes it the fastest growing brand in the ranking, and highest new entrant. It is also the fastest growing large American brand across all economic sectors, not just gambling.
Every year, leading brand valuation consultancy Brand Finance puts 5,000 of the biggest brands to the test, and publishes over 100 reports, ranking brands across all sectors and countries. The world’s top 25 most valuable and strongest Gambling brands are included in the annual Brand Finance Gambling 25 2023 ranking. This ranking is not a valuation of the companies as a whole, but rather an estimation of the value of the intangible assets related to the brand.
Parent company and gambling powerhouse, Flutter, which also owns brands such as Sportsbet (brand value up 135% to USD1 billion), has made substantial investments in the US gambling sector since 2018. This strategic move has fuelled significant success for FanDuel, with an impressive year-on-year growth with no signs of deceleration.
Henry Farr, Associate Director of Brand Finance, commented:
“FanDuel is thriving in the expanding US online gambling market, ignited by the 2018 repeal of restrictive gambling regulations in select states, with more states since following suit. By tapping into the sportsbook, daily fantasy sports, horse racing, and online casino markets, as well as forging partnerships with many of the best-known franchises and leagues across US sports, FanDuel is riding a wave of brand growth in the US gambling industry, with its meteoric rise in brand value showing little signs of slowing down.”
Fellow US brands such as Wynn Resorts (brand value up 36% to USD3.5 billion), MGM (brand value up 17% to USD2.2 billion), and Harrah’s (brand value up 45% to USD1.9 billion) have also seized the opportunity to expand their reach and offerings. With the relaxation of regulations in select states and the broader acceptance of online gambling, US gambling brands have successfully connected with a broader audience of enthusiasts, through strategic investments, innovative technologies, and enticing partnerships.
As a result, the US now accounts for nine brands in the ranking with a collective brand value of USD20.2 billion, up 44% year-on-year. This makes it more than double the value of the next largest contribution by a country in the ranking, the UK, with a collective brand value of USD8.4 billion.
UK brand Bet365 (brand value down 1% to USD4 billion) has overtaken Malaysia’s Genting (brand value down 19% to 3.6 billion) to become the world’s most valuable Gambling brand. Genting’s brand value fall can primarily be attributed to lower forecasts and a fall in brand strength in 2023.
While Bet365 has faced challenges with rising administrative and staffing expenses, its gaming operations have experienced significant success. Additionally, the brand's expansion into Argentina, Canada, the Netherlands, and Colorado (U.S.) has helped propelled it to the top of the gambling ranking.
In addition to calculating brand value, Brand Finance also determines the relative strength of brands through a balanced scorecard of metrics evaluating marketing investment, stakeholder equity, and business performance. Compliant with ISO 20671, Brand Finance’s assessment of stakeholder equity incorporates original market research data from over 100,000 respondents in 38 countries and across 31 sectors.
Singapore’s Marina Bay Sands had the biggest brand strength increase, rising 4 places to the top of the ranking for brand strength, with a Brand Strength Index score of 87 out of 100 and AAA ranking. The brand scored particularly well in Familiarity and Consideration metrics and capitalises on its resort’s position as a world-renowned landmark on the Singapore skyline.