After spending considerable time as a drag on the once high-flying consumer discretionary sector, casino and gaming stocks are rebounding this year thanks to signs of stability in Macau, the world's largest gambling center.
The combination of stability in Macau, a Chinese territory, and steadiness in Las Vegas has contributed to a year-to-date gain of nearly 6 percent for the Market Vectors Gaming (ETF) (NYSE: BJK). BJK's performance should be viewed as especially solid when considering softness in other U.S. gaming markets excluding Las Vegas.
“Recovery in U.S. regional gaming revenues continues to be tepid. Longer-term secular headwinds such as slower wage growth, less certain retirement ...
/www.benzinga.com/trading-ideas/long-ideas/16/04/7833492/macauvegas-baby-casino-etf-looks-for-another-ace alt=Macau/Vegas, Baby: Casino ETF Looks For Another Ace>Full story available on Benzinga.com
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