The landmark casino resort Marina Bay Sands has been rated the global leading casino brand in terms of brand value in the “Gambling 25 2024” report from the United Kingdom-based consultancy Brand Finance Plc. The annual report assessing the top 25 casino brands in the world reportedly measures multiple factors to see the iconic Singapore brand rising to the top of the 2024 chart. As reported, this year’s edition also includes eight other Asia Pacific casino resorts, operators, and suppliers.
Leading Brand:
As GGRAsia reports, the valuation consultancy firm estimates that the Marina Bay Sands brand is currently worth more than US$6.16 billion to receive the AAA+ rating in the Brand Finance report. The authors of the report consider the rating extremely strong, while the brand value figure growing by 89.5 % over the 2023 rating supports the claim and takes Marina Bay Sands from the previous year’s fifth position to the top of the list, according to the source.
Brand Finance reportedly stated:“The resort’s status as a key landmark in Singapore, akin to iconic structures like the Eiffel Tower or Sydney Opera House, contributes to its brand identity.’’ The report continued that Marina Bay Sands brand had “an extremely high familiarity rating, despite significant segments of the Singaporean community not participating in gambling activities due to religious and cultural factors.” Brand Finance reportedly added: “Beyond its primary casino operations, Marina Bay Sands encompasses a hotel, shopping centre, restaurants, and entertainment facilities. This diversification strategy extends the brand’s market reach and helps mitigate potential industry-specific risks.”
2024 Brand Value Report:
As GGRAsia reports, the consultancy assessed various factors in ranking the brand values, such as the royalty relieffactor indicating the value a company would be ready to pay to license its brand if it didn’t own the brand. Brand Finance reportedly used its database of more than 3,000 brands from over 30 markets to produce the rating report. In addition to the Marina Bay Sands’ top rating, eight other casino industry stakeholders with presence in Asia Pacific region have been included in the ‘’Gambling 25 2024’’ report, according to the source.
Highest Ratings:
The Genting brand is rated third with a brand value of almost US$3.54 billion. As this is a 2.3 % lower figure y-o-y, the brand fell from the second to third place over the same period. Wynn Resorts brand of Wynn Resorts Ltd is reportedly ranked fifth with a brand value of a bit under US$2.99 billion, which is 14.2% lower result year-on-year. As reported, the Galaxy Macau brand, run by Galaxy Entertainment Group Ltd, takes the 10th place in the 2024 brand-value report with an estimated brand value of US$2.00 billion.
Other Top-25 Brands:
According to GGRAsia, the top-25 report also included the MGM brand; the Venetian Macao and Sands Macao run by Sands China Ltd in Macau; the City of Dreams brand of Melco Resorts & Entertainment Ltd; and the Macau casino brand SJM of SJM Holdings Ltd. The list reportedly also includes equipment suppliers as follows: IGT brand of International Game Technology Plc, the Aristocrat brand of Aristocrat Leisure Ltd, the Novomatic brand of Novomatic AG, and Light & Wonderbrand.