Marina Bay Sands Leads, FanDuel, Wynn Also Among Most Valuable Gaming Brands
Posted on: February 9, 2024, 03:56h.
Last updated on: February 9, 2024, 04:06h.
Las Vegas Sands’ Marina Bay Sands was named the world’s most valuable gaming brand in a survey released last month by Brand Finance. The initial rankings were of roughly 500 global brands across a variety of industries.
Brand Finance recently released industry-specific rankings of brand value, giving companies, consumers, and investors a sense of some of the other valuable gaming marks. After Marina Bay Sands, the top five are rounded out by FanDuel, Genting, DraftKings, and Wynn Resorts.
FanDuel and DraftKings are the two largest online sportsbook operators in the US and boast combined brand value of $8.8 billion, according to Brand Finance. The former is a unit of Ireland-based Flutter Entertainment. Genting is a sprawling industrial conglomerate that includes significant casino gaming exposure. Its holdings in the industry include Resorts World Sentosa, the only competitor in Singapore to Marina Bay Sands, Resorts World Las Vegas, and gaming venues in New York.
Brand Finance’s top 10 most valuable gaming brands are rounded out by Bet365, Penn Entertainment, Caesars-owned Harrah’s, Caesars Entertainment, and Galaxy Entertainment. Galaxy is the second-largest Macau operator behind Sands China.
DraftKings Fastest-Growing Brand
In the US, FanDuel and DraftKings control what’s essentially a sports wagering duopoly. As highlighted by the operators’ rankings in brand value, that’s conducive to success in terms of fostering increased brand awareness. Prolific advertising and reach into almost all of the states that have competitive mobile betting markets are among the factors driving staggering growth in DraftKings’ brand awareness.
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,” noted Brand Finance. “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.”
Based on brand value growth, Caesars is another operator that stands out.
“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),” added the research firm. “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.”
Brand Strength Important, Too
Brand strength and value are different concepts, but one can beget the other. As such, Brand Finance ranked gaming brands based on strength in addition to value.
For this year, Marina Bay Sands ranked as the strongest gaming brand followed by Bet365. Genting, MGM Grand, and Caesars filled out the top five. MGM Resorts International uses the MGM Grand designation on several of its US casino hotels.
Rounding out the top-10 strongest gaming brands, Wynn paced ahead of FanDuel and those two were followed by Harrah’s, SkyBet, and Sands China’s Venetian Macau.
Source: casino.org
