New Brand Finance research shows total value of top 25 gambling brands ranked hit $60.8 billion
LONDON, 30 July 2025 – The combined value of the world’s top 25 gambling brands ranked has surged by 21% year-on-year to USD60.8 billion this year, according to the Gambling 25 2025 rankings by Brand Finance, the world’s leading brand valuation consultancy.
The latest data from Brand Finance highlights the sector’s remarkable resilience and transformation, fuelled by a post-pandemic tourism rebound, rapid legalisation of online betting in the US, and rising sports sponsorships that have lifted brand awareness among millions of new fans.
Following the 2018 repeal of the Professional and Amateur Sports Protection Act (PASPA), the US has become the world’s largest regulated online gambling market, with more than 35 states now permitting sports betting. Major operators have responded with record marketing expenditure and high-profile sponsorship deals, driving strong brand growth nationwide.
Online gambling in the US is quickly catching up to Las Vegas in both brand value and public interest. Brand awareness is rising fast, with FanDuel up 26% and DraftKings up 18% since 2022. In contrast, traditional Vegas-based brands like Caesars and MGM have seen more modest gains; just 1% and 14%, respectively. With FanDuel now at 74% awareness and DraftKings at 82%, they’re closing in on Caesars (82%) and MGM (87%), signalling strong future growth for online operators.
In 2024, Americans wagered an estimated USD172 billion online, helping to drive record brand value growth among major players. Online gambling brand, FanDuel (brand value up 25% to USD7.0 billion) has risen to become the world’s most valuable gambling brand ranked this year. DraftKings (brand value up 59% to USD5.1 billion) has entered the global top three for the first time while MGM (brand value up 102% to USD3.8 billion) and Wynn Resorts (brand value up 25% to USD3.7 billion) have also posted significant gains, reflecting strong demand across both online and destination gaming.
Other prominent US names ranked include Harrah (brand value up 4% to USD2.4 billion) which has strengthened customer loyalty through revamped rewards programmes and integrated resort experiences, and Penn Entertainment (brand value down 15% to USD2.2 billion).
China’s Studio City (brand value up 118% to USD801 million) is the world’s fastest-growing gambling brand in this year’s rankings, following its Phase 2 expansion in Macau which boosted operating revenue by 40% year-on-year. Macau’s gaming industry continues to recover strongly, with visitor arrivals up 43% in the first half of 2024 and gross gaming revenue in July rising 12% compared to the previous year.
Meanwhile, Marina Bay Sands remains the strongest brand ranked in the casino and gambling sector, with a Brand Strength Index (BSI) score of 93.9/100 and an AAA+ brand strength rating, ahead of the US’ Caesars (BSI score 92.4/100) and Malaysia’s Genting (BSI score 87.7/100). These brands continue to stand out for their premium entertainment experiences and strong reputation for customer loyalty and trust.
Henry Farr, Director at Brand Finance, commented:
“Reaching a record USD60.8 billion in brand value, the gambling sector continues to demonstrate its strength and agility in meeting changing consumer demands. The US online betting boom, with FanDuel now surpassing traditional Vegas giants, alongside major sports sponsorships, has driven impressive brand growth.”
Brand Finance is the world’s leading brand valuation consultancy. Bridging the gap between marketing and finance, Brand Finance evaluates the strength of brands and quantifies their financial value to help organisations make strategic decisions.
Headquartered in London, Brand Finance operates in over 25 countries. Every year, Brand Finance conducts more than 6,000 brand valuations, supported by original market research, and publishes over 100 reports which rank brands across all sectors and countries.
Brand Finance also operates the Global Brand Equity Monitor, conducting original market research annually on 6,000 brands, surveying more than 175,000 respondents across 41 countries and 31 industry sectors. By combining perceptual data from the Global Brand Equity Monitor with data from its valuation database — the largest brand value database in the world — Brand Finance equips ambitious brand leaders with the data, analytics, and the strategic guidance they need to enhance brand and business value.
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 is a regulated accountancy firm and a committed leader in the standardisation of the brand valuation industry. Brand Finance was the first to be certified by independent auditors as compliant with both ISO 10668 and ISO 20671 and has received the official endorsement of the Marketing Accountability Standards Board (MASB) in the United States.
Brand is defined as a marketing-related intangible asset including, but not limited to, names, terms, signs, symbols, logos, and designs, intended to identify goods, services, or entities, creating distinctive images and associations in the minds of stakeholders, thereby generating economic benefits.
Brand strength is the efficacy of a brand’s performance on intangible measures relative to its competitors. Brand Finance evaluates brand strength in a process compliant with ISO 20671, looking at Marketing Investment, Stakeholder Equity, and the impact of those on Business Performance. The data used is derived from Brand Finance’s proprietary market research programme and from publicly available sources.
Each brand is assigned a Brand Strength Index (BSI) score out of 100, which feeds into the brand value calculation. Based on the score, each brand is assigned a corresponding Brand Rating up to AAA+ in a format similar to a credit rating.
Brand Finance calculates the values of brands in its rankings using the Royalty Relief approach – a brand valuation method compliant with the industry standards set in ISO 10668. It involves estimating the likely future revenues that are attributable to a brand by calculating a royalty rate that would be charged for its use, to arrive at a ‘brand value’ understood as a net economic benefit that a brand owner would achieve by licensing the brand in the open market.
The steps in this process are as follows:
1 Calculate brand strength using a balanced scorecard of metrics assessing Marketing Investment, Stakeholder Equity, and Business Performance. Brand strength is expressed as a Brand Strength Index (BSI) score on a scale of 0 to 100.
2 Determine royalty range for each industry, reflecting the importance of brand to purchasing decisions. In luxury, the maximum percentage is high, while in extractive industry, where goods are often commoditised, it is lower. This is done by reviewing comparable licensing agreements sourced from Brand Finance’s extensive database.
3 Calculate royalty rate. The BSI score is applied to the royalty range to arrive at a royalty rate. For example, if the royalty range in a sector is 0-5% and a brand has a BSI score of 80 out of 100, then an appropriate royalty rate for the use of this brand in the given sector will be 4%.
4 Determine brand-specific revenues by estimating a proportion of parent company revenues attributable to a brand.
5 Determine forecast revenues using a function of historic revenues, equity analyst forecasts, and economic growth rates.
6 Apply the royalty rate to the forecast revenues to derive brand revenues.
7 Discount post-tax brand revenues to a net present value which equals the brand value.
Brand Finance has produced this study with an independent and unbiased analysis. The values derived and opinions presented in this study are based on publicly available information and certain assumptions that Brand Finance used where such data was deficient or unclear. Brand Finance accepts no responsibility and will not be liable in the event that the publicly available information relied upon is subsequently found to be inaccurate. The opinions and financial analysis expressed in the study are not to be construed as providing investment or business advice. Brand Finance does not intend the study to be relied upon for any reason and excludes all liability to any body, government, or organisation.
The data presented in this study form part of Brand Finance's proprietary database, are provided for the benefit of the media, and are not to be used in part or in full for any commercial or technical purpose without written permission from Brand Finance.
