According to the Business Research Company, the sports betting market is bigger than ever. In 2023, the sportsbook market grew to $96.84 billion. And in 2024, it is expected to reach $104.78 billion, growing by 8.2% in a year.
While the Russian invasion of Ukraine and the upcoming economic recession have curbed the development of the sportsbook market, it continues to grow and expand. And global sportsbook holdings play a vital role in market growth. In this GBC Time article, we are going to list the ten biggest betting companies according to their market capitalization and Yahoo Finance source.
Las Vegas Sands Corp
With a market cap of $36 billion, this global iGaming holding is at the top of our ranking. Founded in 1998 in Las Vegas, USA, this business focuses on operating luxury casinos and resorts in the US and Asia. Some of the company’s venues are:
- The Venetian in Macau;
- The Londoner in Macau;
- Cotai Strips;
- The Sands.
Although LV Sands Corp suffered a hit during the global pandemic, the company should rebound with the recovery of economic growth and the end of the Covid era. Currently, the company generates around $10 billion of revenue annually.
Flutter Entertainment
This Irish online sports betting company has the second-biggest market capitalization – $25 billion. The major online sports and game betting platform owns such sportsbook brands as Betfair, FanDuel, Fox Bet, Paddy Power, BetEasy, and more. The annual revenue of the firm is estimated at $5.8 billion. Currently, Flutter is in the process of merging with the Stars Group.
Evolution
With a market capitalization of $22 billion, the Evolution brand fairly takes third place in this list. The company provides B2B solutions for sportsbook, casino, and gaming operators. Among its products are live casino games, live game shows, and slot machines.
Evolution was founded in Sweden in 2006. Now, the company is one of the biggest in the sports betting market and generated $550 million in revenue every year.
MGM Resorts
This world-renowned sports betting brand is valued at $14 billion on the stock market. MGM is a global company that operates integrated casino destination resorts all over the world. Some of their best destinations include MGM Grand Arena, Bellagio Hotel, Mandalay Bay Resort, and more. Founded back in 1986 in Las Vegas, the company has been expanding ever since, generating around $11 billion in profits every year. Recently, the company’s share price started to increase.
Caesars
One of the largest betting companies, Caesars Entertainment operates both online and offline. With its market cap valued at $11 billion, Caesars is definitely one of the prominent players in the gambling market. The company was launched back in 1937 in the US and now owns such betting and gambling brands as Horseshoe, Harrahs, Caesars, Paris Las Vegas, and more. While Caesars Entertainment was affected by the global pandemic, the company is expected to recover in the nearest future.
Wynn Resorts
Founded back in 2002, Wynn Resorts is a luxury casino company that operates gambling venues all over the world and online betting platforms. Its brands include WynnBet, Wynn Resort Las Vegas, Wynn Macau, and Encore Boston Harbour.
Wynn Resorts have a market cap of $9 billion, which puts this company in sixth place on our list. With $6 billion annual revenue, it remains one of the most profitable sports betting brands in the world despite the subtle drops during the global pandemic.
Entain
This British sports betting brand was established in 2004 as GVC Holdings. Now, the company boasts a market cap of $9 billion, which makes it one of the most influential sportsbook brands in the world. Its annual revenue reaches $3.5 billion on average.
As of 2022, Entain operated in 31 locations, providing betting services via its brands like PartyPoker, Ladbrokes, Coral, Bwin, FoxyBingo, and PartyCasino. Besides that, the company offers an integrated gambling platform that offers bets in 42 currencies and 33 languages.
DraftKings
DraftKings is one of the newest betting brands on this list, as it was launched a little bit more than 10 years ago – in 2012. The company focuses on daily fantasy sports (DFS) betting, accepting casino and sports bets as well. With a $7 billion market cap, DraftKings is one of the biggest players in the sportsbook arena. The company also creates about $750 million in revenue every year. Considering the growth of online betting and, namely, wagering on DFS, DraftKings has a bright future.
Boyd Gaming
Launched in 1975, Boyd Gaming Corp has stayed a profitable company ever since. In 2022, the market capitalization of the betting firm reached $6 billion and annual revenue amounted to $4 billion. Nowadays, Boyd runs gambling businesses – hotels, casinos, resorts, and more – in multiple jurisdictions. The company owns such offline venues as:
- Blue Chip;
- Belterra;
- Amelia Belle;
- Aliante, and more.
Light and Wonder
This company runs an online gambling platform and was previously known as Scientific Games. With its market cap set a $6 billion, the US-based brand is among the most developed companies in the iGaming niche. Light&Wornder offers instant lotteries, gaming systems, online apps, terminals and services, and more.
Considering the company has been operating since 1973, it has greatly adapted to the new realities of business. Currently, Light&Wonder creates $3.37 billion in profits annually.
