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Sports Betting ETFs Rebound

July 21, 2022 3

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Sports Betting ETFs Rebound

As Macau begins to curb the brunt of their largest COVID-19 outbreak, they have announced plans to reopen casino doors on Saturday after being down for almost two weeks. The reopening news was beneficial for casinos with ties to Macau as Las Vegas Sands Corp. (LVS), Melco Resorts & Entertainment Ltd (MLCO), MGM Resorts International (MGM), and Wynn Resorts, Ltd (WYNN) jumped 14.2%, 22%, 8.8% and 15.6% respectively. The iBet Sports Betting and Gaming ETF (IBET) which holds all four is up nearly 6% for the week.

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