Market Vectors Gaming ETF (BJK) could see action on WYNN news

May 2, 2012 7:59 AM EDT
Market Vectors Gaming ETF (NYSE: BJK), which provides exposure to the global gaming industry, could see action on Wednesday.

One of BJK's largest holdings, Wynn Resorts Ltd. (Nasdaq: WYNN) is indicated to open higher Wednesday after the company announced Wynn Macau's Cotai land concession contract has been officially approved by the Macau government. This will pave the way for the company to break ground on the 51-acre site.

Also, data showed that gaming revenue in Macau rose 22% in April, which is down from the 27% grow in Q1 but still above the pace expected.

Wynn Resorts has a 7.11 percent weighting in BJK, its second largest holding behind Las Vegas Sands Corp (NYSE: LVS).

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