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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.
“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.”
Henry Farr, Associate Director at Brand Finance
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.
View the full Brand Finance Gambling 25 Report
Brand Finance is the world’s leading brand valuation consultancy. Bridging the gap between marketing and finance for more than 25 years, Brand Finance evaluates the strength of brands and quantifies their financial value to help organizations of all kinds make strategic decisions.
Headquartered in London, Brand Finance has offices in over 20 countries, offering services on all continents. Every year, Brand Finance conducts more than 5,000 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 over 5,000 brands, surveying more than 150,000 respondents across 38 countries and 31 industry sectors. Combining perceptual data from the Global Brand Equity Monitor with data from its valuation database enables Brand Finance to arm brand leaders with the data and analytics they need to enhance brand and business value.
Brand Finance is a regulated accountancy firm, leading the standardization 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.
