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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/lastsale BJK -6.55% 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/lastsale MGM -9.37% rose 1.9% and Caesars Entertainment Corp. /zigman2/quotes/207192848/lastsale CZR -2.70% was up 5.7%. The Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -4.06% rose 0.6% on Monday, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -3.37% rose 0.5% and the Nasdaq Composite Index /zigman2/quotes/210598365/realtime COMP -3.79% was up 0.7%.

/zigman2/quotes/209424070/lastsale
US : U.S.: Nasdaq
$ 25.65
-1.80 -6.55%
Volume: 46,717
March 27, 2020 4:15p
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/zigman2/quotes/209932643/lastsale
US : U.S.: NYSE
$ 12.19
-1.26 -9.37%
Volume: 37.03M
March 27, 2020 6:30p
P/E Ratio
3.07
Dividend Yield
4.92%
Market Cap
$6.00 billion
Rev. per Employee
$213,874
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/zigman2/quotes/207192848/lastsale
US : U.S.: Nasdaq
$ 6.85
-0.19 -2.70%
Volume: 15.23M
March 27, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$4.67 billion
Rev. per Employee
$127,136
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
21,636.78
-915.39 -4.06%
Volume: 591.33M
March 27, 2020 5:12p
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/zigman2/quotes/210599714/realtime
US : S&P US
2,541.47
-88.60 -3.37%
Volume: 3.59B
March 27, 2020 5:12p
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/zigman2/quotes/210598365/realtime
US : U.S.: Nasdaq
7,502.38
-295.16 -3.79%
Volume: 3.45M
March 27, 2020 5:16p
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