Investors have been gambling on Wynn Resorts (NasdaqGS: WYNN) shares ahead of the casino and resort operator’s quarterly earnings Tuesday, and the stock’s rally has lifted a gaming exchange traded fund (ETF).
Market Vectors Gaming ETF (NYSEArca: BJK) counts Wynn as its second-largest holding at nearly 9% of assets.
Wells Fargo analysts said they expect Wynn to report gross gambling revenue in Macau up nearly 32% compared with the first quarter last year, Forbes reported.
Wynn shares jumped 20.6% for the month ended April 18, according to Morningstar. Market Vectors Gaming ETF was up 11.1% over the same period.
The tracking index is comprised of publicly traded companies worldwide that derive more than 50% of revenue from the global gaming industry.
“Most of the 54 companies in this ETF operate casinos and other sports-betting venues or manufacture and sell gaming equipment and technology to other industry participants,” Morningstar’s Robert Goldsborough said in an analyst report on the gaming fund. “Many investors may find that secular global trends that favor gambling — coupled with resurgent growth in Macau and in Singapore — could make this an ETF worth owning.”
Market Vectors Gaming ETF
