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May 14, 2018, 10:40 a.m. EDT

Gaming ETF rallies after Supreme Court ruling on sports gambling

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By Ryan Vlastelica

An exchange-traded fund that tracks gaming and casino stocks rallied on Monday, turning sharply higher after the U.S. Supreme Court ruled in favor of New Jersey in a case that could open sports betting around the country. The VanEck Vectors Gaming ETF /zigman2/quotes/209424070/composite BJK +0.21% gained 1.6% and hit its highest level since February. In a 6-to-3 vote, the Supreme Court in Murphy vs. National Collegiate Athletic Association ruled the Professional and Amateur Sports Protection Act doesn't make sports gambling a federal crime. New Jersey has sought to legalize sports gambling schemes in Atlantic City and at horseracing tracks. Among specific stocks, MGM Resorts International /zigman2/quotes/209932643/composite MGM -0.30% rose 1.9% and Caesars Entertainment Corp. /zigman2/quotes/207192848/composite CZR +0.25% was up 5.7%. The Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +0.13% rose 0.6% on Monday, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.03% rose 0.5% and the Nasdaq Composite Index /zigman2/quotes/210598365/realtime COMP -0.11% was up 0.7%.

/zigman2/quotes/209424070/composite
US : U.S.: NYSE Arca
$ 37.68
+0.08 +0.21%
Volume: 429.00
Sept. 18, 2019 8:00p
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/zigman2/quotes/209932643/composite
US : U.S.: NYSE
$ 29.51
-0.09 -0.30%
Volume: 5.87M
Sept. 18, 2019 6:30p
P/E Ratio
85.31
Dividend Yield
1.76%
Market Cap
$15.43 billion
Rev. per Employee
$213,874
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/zigman2/quotes/207192848/composite
US : U.S.: Nasdaq
$ 11.91
+0.03 +0.25%
Volume: 7.81M
Sept. 18, 2019 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$8.05 billion
Rev. per Employee
$127,136
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
27,147.08
+36.28 +0.13%
Volume: 215.60M
Sept. 18, 2019 6:20p
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/zigman2/quotes/210599714/realtime
US : S&P US
3,006.73
+1.03 +0.03%
Volume: 1.71B
Sept. 18, 2019 5:35p
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/zigman2/quotes/210598365/realtime
US : U.S.: Nasdaq
8,177.39
-8.62 -0.11%
Volume: 1.80M
Sept. 18, 2019 5:16p
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