FanDuel named the most value US gambling brand in independent rankings
Flutter-owned operator sits ahead of DraftKings in new research from London-based Brand Finance
Eight gambling companies have been named in the independent Brand Finance US 500 report, including market leaders FanDuel and DraftKings, as the sector continues to growth at pace.
FanDuel was named the top-ranked gambling business by brand value by the independent London-based consultancy firm, with a value of $3.4bn.
The Flutter-owned brand jumped from 280th in the 2023 rankings to finishing in 169th place for 2024, putting it streets ahead of the nearest competitor, DraftKings.
The Boston-based firm, while seeing a 109% leap in brand value, jumped more than 200 places to finish in 300th, after landing outside the top 500 last year.
Other brands to make the top 400 include Wynn Resorts, PENN Entertainment and Harrah’s.
Caesars Entertainment, MGM Resorts International and IGT, the only supplier to make the list, also made it into the rankings.
Outside of gambling, Apple was named as the US’ most valuable brand, with NVDIA being the fastest-growing company in the States after the AI giant saw its value soar by 163%.
Henry Farr, Brand Finance associate director, said: “Brand Finance research has found a significant increase in customer familiarity for top US online gambling brands.
“For instance, Caesars, FanDuel, and DraftKings are showing substantial year-on-year improvements, with increased brand value driven by a heavy investment in brand promotion and boosting their brand awareness.
“Ultimately, the combination of local and online gambling opportunities has led to an all-time high demand for gambling entertainment with limited barriers to participation, driving brand value within the US gambling sector. As more states continue to legalize online gambling, we expect this battle for consumer attention to continue and subsequently impact brand values,” he added.
Laurence Newell, Brand Finance North America MD, pinpointed DraftKings as an impressive growth story from the data.
He said: “The recent legalization of online gambling across several states has triggered a notable transformation in the sector, creating fresh avenues for players and the gaming industry alike to explore. This has led to rapid expansion in the market, presenting new opportunities for both growth and innovation within the industry.
“It is no surprise, therefore, that in this year’s Brand Finance US 500 report, gambling brands perform particularly well.
“DraftKings stands out as a top performer with a remarkable brand value growth of 109%, making it the fastest-growing brand in the gambling sector and the fifth fastest-growing brand nationwide.
“We foresee further opportunities for brands to capitalize on this momentum, strengthening their market position and thus their brand values even further.”
Earlier this year, EGR exclusively revealed the most valuable online gambling brands in the world according to Brand Finance. You can read those results here.
NB: The Brand Finance rankings are independent and are not associated with, or do they have any bearing on, the EGR Power 50, EGR Power Affiliates, or EGR Power US rankings. For further information on those rankings please email egrpower@egr.global