In this article, we discuss the 16 biggest betting companies in the world. If you want to read about some more betting companies, go directly to 5 Biggest Betting Companies In The World.
The betting industry comprises sports betting as well as gambling and lottery businesses. The betting sector was hit hard by the pandemic and the prolonged coronavirus lockdowns in China but has started on the road to recovery in the past few months as Macau reopens and online betting trends, with the advent of world sporting events like the NFL, the UEFA Champions League, the NBA, and the FIFA World Cup, continue to grow at a rapid pace. The global betting market is expected to grow to $8 billion in revenue over the next few years. Overall, the market size for the industry will hit $200 billion within this decade, growing at a scary compound annual growth rate of around 9% from 2022 onwards. The legalization of sports betting in countries like the US, where betting firms offer services in fifty states, is expected to have a huge impact on the global betting market. The US typically accounts for more than 40% of total gambling revenue worldwide, mostly as a result of activities concentrated in the betting hub of Las Vegas.
Some of the top firms operating in the betting sector include Caesars Entertainment, Inc. (NASDAQ:CZR), MGM Resorts International (NYSE:MGM), and Las Vegas Sands Corp. (NYSE:LVS). Generally, bets allow people to put money on the line keeping in sight the outcome of an event. For example, the desired outcome results in the one who placed the bet getting paid in an enhanced manner, while if the desired outcome is not achieved, the money on the line is lost in the wager.
Our Methodology
These were picked from a careful assessment of the betting industry. The details of each betting company are mentioned alongside a discussion around top firms in the sector in order to provide readers with some context for their investment decisions.
Pixabay/Public Domain
Market Capitalization: $500 Million
888 Holding is one of the most popular betting companies. Some of the services it provides include online casino, game card room and game betting in a safe and secure area. It also provides full-house products, technological solutions to game development and gaming websites. Its headquarters are in Gibraltar, Spain and it was founded in 1997. The annual revenue of the firm is around $850 million.
Market Capitalization: $700 Million
Better Collective is a Denmark-based betting firm. It offers services such as iGaming and sports gambling media. Its aim is to promote responsible gambling solutions that tackle addiction as well. Some of the value-added services it provides include editorial content, bookmaker information, data insights, educational tools and gambling or betting tips for fans of sports and esports. It was founded in 2004 and its revenue is over $156 million.
Just like Caesars Entertainment, Inc. (NASDAQ:CZR), MGM Resorts International (NYSE:MGM), and Las Vegas Sands Corp. (NYSE:LVS), Better Collective is one of the biggest betting companies in the world.
Market Capitalization: $1 Billion
Tabcorp was founded in 1994 in Melbourne and is the largest betting company of Australia. It provides a diversity of operations in various sectors like sports gambling, casinos gaming, lotteries, keno and media on a secure platform. The firm is exploring different digital avenues to maximize earnings. The revenue of this company is in excess of $3.15 billion.
Market Capitalization: $1 Billion
Bet365 is a United-Kingdom based betting firm founded in 2000. It is one of the few betting firms with a female executive, namely Denise Coates. The revenue of the firm is more than $3.13 billion and the company is closely associated with the British royal family as well.
Market Capitalization: $2 Billion
Kindred Group was founded in Malta in 1997 and is one of the largest betting groups consisting of 9 brands including Unibet, Maria, Casino and 32red. It offers products like online casino, game betting, online poker and online bingo. The betting platforms of the firm serve over 2000 people of 60+ nationalities. It earns more than $800 million in revenue per year.
Market Capitalization: $5 Billion
Penn Entertainment, Inc. (NASDAQ:PENN) provides integrated entertainment, sports content, and casino gaming experiences. Penn’s core bricks and mortar casino business remains strong, and the company has a healthy regional casino business and a strong balance sheet to fund its digital losses. Founded in 1972, in Pennsylvania, USA, it is one of the largest property holders, with about 43 betting properties in the USA and Canada. It has an annual revenue that exceeds $3.1 billion.
Among the hedge funds being tracked by Insider Monkey, Washington-based firm HG Vora Capital Management is a leading shareholder in Penn Entertainment, Inc. (NASDAQ:PENN) with 7.5 million shares worth more than $206 million.
In its Q2 2022 investor letter, Baron Funds, an asset management firm, highlighted a few stocks and Penn Entertainment, Inc. (NASDAQ:PENN) was one of them. Here is what the fund said:
“PENN Entertainment, Inc. (NASDAQ:PENN) declined 28.3% in the quarter and penalized performance by 71 bps. This was due to investor concerns that a potential recession would result in a slowdown or decline in growth. The company has seen no material change to its visitation or spending levels, and its earnings remain strong. Penn is generating strong cash flow to more than offset investments in its digital growth opportunity. It is using excess cash to buy back its stock. Penn is well positioned to weather a slowdown or recession and, if one does occur, the company should still generate revenue and EBITDA above pre-pandemic levels.
Management continues to use its excess cash for share repurchases and debt reduction as well as continuing investments in its digital businesses. We think the $50 million of losses this year from its digital business is modest in relation to Penn’s $1 billion of casino EBITDA. The losses from its digital business represent customer acquisition costs incurred as additional states legalize online gambling. Since it is far less expensive to retain existing customers than to acquire new ones, we expect marketing costs to decline as Penn builds its customer base.”
Market Capitalization: $6 Billion
Light & Wonder, Inc. (NASDAQ:LNW), formerly known as Scientific Games, is an online gaming platform from Nevada, USA. It provides instant lottery games, lottery gaming systems, terminals and services, internet applications, server based interactive gaming machines and game control systems. It was founded in 1973 and is increasing its employee base for better functions in the gaming world. It is now providing an OpenGaming content platform for users as well as numerous opportunities for new businesses. The revenue of the firm is in excess of $3.37 billion.
Market Capitalization: $6 Billion
Boyd Gaming Corporation (NYSE:BYD), together with its subsidiaries, operates as a multi-jurisdictional gaming company. It was founded in 1975. It also provides online gambling and gaming opportunities and owns over 25 casinos in the country. In 2018, Boyd Gaming started a partnership with MGM Resorts. It earns more than $4 billion in revenue annually.
At the end of the third quarter of 2022, 36 hedge funds in the database of Insider Monkey held stakes worth $809 million in Boyd Gaming Corporation (NYSE:BYD), compared to 35 in the previous quarter worth $898 million.
In its Q2 2022 investor letter, Baron Funds, an asset management firm, highlighted a few stocks and Boyd Gaming Corporation (NYSE:BYD) was one of them. Here is what the fund said:
“Boyd Gaming Corporation (NYSE:BYD) is one of the largest and most successful casino entertainment companies in the U.S. The company owns and operates 28 casino gaming properties in 10 states with a large presence in Las Vegas. Business conditions have been strong, yet the shares are valued at only 6 times 2022 estimated cash flow versus a long-term average of more than 9 times cash flow. The company maintains a strong and liquid balance sheet. Insiders own approximately 27% of the company. We believe Boyd is a compelling acquisition target.”
Market Capitalization: $7 Billion
DraftKings Inc. (NASDAQ:DKNG) operates as a digital sports entertainment and gaming company. It was founded in 2012 in Massachusetts, USA. The firm allows the people to participate in daily fantasy sports (DFS), online casino and sports-related contests. The firm earns over $750million in revenue through betting activities.
At the end of the third quarter of 2022, 34 hedge funds in the database of Insider Monkey held stakes worth $830 million in DraftKings Inc. (NASDAQ:DKNG), compared to 27 the preceding quarter worth $682 million.
In its Q4 2021 investor letter, Baron Funds, an asset management firm, highlighted a few stocks and DraftKings Inc. (NASDAQ:DKNG) was one of them. Here is what the fund said:
“Shares of DraftKings Inc. (NASDAQ:DKNG) fell in the quarter, as stocks of online gaming companies were under pressure. Sports betting and i-gaming are rolling out with great fanfare and success across the country; however, investors seem concerned about competition and margins. Most participants are spending heavily on marketing and promotions, which is cutting into margins. We see this as worthy investment in customer acquisition at a moment in time when revenues are just building. We continue to believe that online sports betting and gaming will be enormous industries, that DraftKings will be a leading player. We think the business will have high margins as it matures. We believe we are underwriting the business conservatively and see much upside in the long term.”
Market Capitalization: $9 Billion
Entain is an international sports betting company that trades on the London Stock Exchange and is present on the FTSE100 index as a gaming firm. It has an online and retail sector presence, operating in about 31 territories. The company holds a portfolio of two types of brands — sports brands including BWIN, Coral, Ladbrokes, and Crystalbet, as well as game brands including partypoker, PartyCasino, FoxyBingo and Gala. It provides a fully integrated tech platform for the purpose and has a full products suite. The bets are accepted in 33 languages and 42 currencies. It was founded in 2004 as GVC Holdings and has a revenue of $3.50 billion.
In addition to Caesars Entertainment, Inc. (NASDAQ:CZR), MGM Resorts International (NYSE:MGM), and Las Vegas Sands Corp. (NYSE:LVS), Entain is one of the biggest betting companies in the world.
Market Capitalization: $9 Billion
Wynn Resorts, Limited (NASDAQ:WYNN) is a Las Vegas-based corporation that owns and operates luxury hotels and casinos. Established in 2002, the firm earns over $6 billion in revenue every year. It operates worldwide casinos, luxury resorts and gambling platforms where the WynnBet brand is helping the company rise in the iGaming space. The firm currently owns venues in Las Vegas that include Wynn Las Vegas and Encore Las Vegas, as well as the Encore Boston Harbour in Massachusetts, and the Encore at Wynn Macau and Wynn Palace.
At the end of the third quarter of 2022, 23 hedge funds in the database of Insider Monkey held stakes worth $191 million in Wynn Resorts, Limited (NASDAQ:WYNN), compared to 26 the preceding quarter worth $142 million.
In its Q3 2021 investor letter, Baron Funds, an asset management firm, highlighted a few stocks and Wynn Resorts, Limited (NASDAQ:WYNN) was one of them. Here is what the fund said:
“In the most recent quarter, we exited the Fund’s holdings in Wynn Resorts, Limited (NASDAQ:WYNN) due to: (i) ongoing COVID-19-related travel restrictions in China, Macau, and Singapore; and (ii) the Macau government’s announcement to tighten its casino regulatory oversight.”
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Disclosure. None. 16 Biggest Betting Companies In The World is originally published on Insider Monkey.
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