Gambling giants make their mark on the Forbes Global 2000
From Las Vegas to London, and Macau to Melbourne, gambling and sports betting companies have made it onto this year’s Forbes Global 2000 list. The industry is thriving, with a cohort of gaming titans firmly entrenched among the world’s most powerful public companies.
Today’s gambling firms are billion-dollar conglomerates shaping the future of entertainment, leisure, and even tech. A deeper look into this year’s Global 2000 reveals that the chips are increasingly stacked in favour of the gambling elite—companies that run mega casinos, pioneer real-money gaming apps, and develop the new iGaming technology.
“For the 23rd year, Forbes’ Global 2000 ranks the largest public companies in the world using four metrics: sales, profits, assets and market value,” explained Forbes. “The 2,000 companies on the 2025 list account for $52.9 trillion in annual revenue. We used the latest 12 months of financial data available to us as of April 25, 2025 to calculate the factors used in our ranking.”
Flutter, the titan of online betting
The U.K.’s Flutter Entertainment, ranked #967, towers over the online gambling world with a brand portfolio that includes FanDuel, PokerStars, and Paddy Power. With $14.3 billion in trailing revenue and $162 million in profit in 2024, Flutter leads both the U.S. and global online betting markets.
Casino giants betting big on global expansion
Leading the charge for the gambling industry is MGM Resorts International, ranked #596 on the Forbes Global 2000 list, with revenues of $16.2 billion in 2023. Known for its glittering resorts in Las Vegas and Macau, as well as for its digital arm, BetMGM, a joint venture with UK-based Entain, a new heavyweight in the booming U.S. sports betting market.
Not far behind is Las Vegas Sands (#836), once the undisputed king of the Vegas Strip, now operating resorts in Singapore or Macau. The company reported $1.3 billion in profit within the last 12 months.
Caesars Entertainment, the American hotel and casino company, is ranked #1561 with a market value of $6.03 billion.
Meanwhile, in Asia, Galaxy Entertainment Group—ranked #1170—continues to dominate Macau. With expansion plans into Thailand and billions in quarterly gross gaming revenue, Galaxy is doubling down on the region’s liberalising gaming laws.
Tech providers powering the gambling boom
Behind the scenes of every bet lies an engine room of technology. This year’s list features companies that don’t operate casinos but power the industry’s digital evolution.
Australia’s Aristocrat Leisure (#1340), long a leader in slot machine manufacturing, has pivoted into digital with acquisitions in iLottery and online gaming and reported $859.1 million in profit.
Evolution AB, the Swedish firm specialising in live-dealer games streamed to online casinos, ranked 1315, with a market value of $17.61 billion.
The bricks beneath the bets
While operators and tech firms get the limelight, it’s easy to overlook the landlords of gambling’s empire. However, VICI Properties, ranked #732, is a real estate investment trust (REIT) that owns and leases iconic casinos, such as Caesars Palace.
Forbes 2000: a gambling industry snapshot
The following gambling-related companies made it onto the 2025 Forbes Global 2000 list, ranked as follows:
- #596 – MGM Resorts International
- #732 – VICI Properties
- #836 – Las Vegas Sands
- #967 – Flutter Entertainment
- #1170 – Galaxy Entertainment Group
- #1315 – Evolution AB
- #1340 – Aristocrat Leisure
- #1561 – Caesars Entertainment
