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New Gaming ETF

By Arthur B. Hill - Mon 28-Jan-08 11:11 AM EST

The Van Eck Associates launched an international gaming ETF that replicates the Global Gaming Index. There are currently 69 companies in the Gaming ETF (BJK). However, the top 10 holdings represent over 50% of the ETF. Therefore, one only needs to follow the top ten stocks to get an idea of the ETF.

The top three holdings are US-based gaming stocks: International Gaming Tech (IGT), MGM Mirage (MGM) and Las Vegas Sands (LVS). IGT, the top holding, designs, manufactures and markets computerized gaming equipment. They basically sell picks and shovels (machines) to the gold diggers (gamblers). This $12.4 billion company makes up over 10% of this ETF and serves as an industry bellwether. The demand for, and use of, poker machines and slots increases as the gaming business expands.

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