Home Business NewsBusinessBusiness Growth News Gambling brand values surge across industry

Gambling brand values surge across industry

by Thea Coates Finance Reporter
7th Feb 24 9:37 am

Marina Bay Sands (brand value up 89% to USD6.2 billion) is the world’s most valuable gambling brand, replacing bet365, last year’s most valuable brand, according to new data from Brand Finance, the world’s leading brand valuation consultancy.

Last year, Marina Bay Sands was the fifth most valuable brand. FanDuel (brand value up 67% to USD5.6 billion) jumps two spots from fourth to become the second most valuable gambling brand in the wake of an increasing number of US states passing laws that allow online betting.

Marina Bay Sands also has an improved brand strength rating of 91.8 out of 100, up from 86.8, and is now one of a handful of brands in any industry to achieve an AAA+ brand strength, Brand Finance’s highest rating.

The resort is a recognisable landmark in the Singapore skyline, which boosts brand strength despite the relatively small number of Singaporeans who gamble.

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.”

DraftKings has emerged as the fastest-growing brand in the gambling industry, more than doubling in brand value to USD3.2 billion and leaping from 13th to 4th position in the brand ranking.

Brand Finance research indicated a substantial increase in both consideration and familiarity for DraftKings, in parallel to the company’s reports of strong revenue growth.

Another brand that appears to benefit from US states’ legalising online gambling is FanDuel, with its brand value soaring by 67% to reach USD5.6 billion, elevating the brand from 4th to 2nd in industry rankings.

That said, last year’s top-ranked brand, bet365, dropped to 6th place with a 29% decline in brand value – bet365’s brand value is now USD2.8 billion, a decline attributed to a 90% drop in operating profits, although the company’s revenue decreased a mere 2%.

Caesars is the 2024 brand growth success story, with a brand value up 68% to reach USD2.2 billion, taking the 7th spot in the rankings (up from 16th last year).

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, elements that directly impact consumer choice and loyalty, contributing to the brand’s overall strength and market position.

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