The ball got rolling last week when VICI Properties ( NYSE: VICI) said it’s purchasing rival MGM Growth Properties ( NYSE: MGP) for $17.2 billion in equity in a deal creating the largest owner of casino real estate in the U.S. August isn’t even two weeks old, yet three BJK components have already acquired competitors. Now, BJK is proving to be an ETF epicenter of a wave of consolidation activity in the gaming industry. Over the past year, the VanEck ETF is higher by 30.87%, an advantage of 250 basis points over the S&P 500 Consumer Discretionary Index. BJK is home to multiple land-based casino operators and that thesis largely paid offer for investors.
