In recent news China has announced they will begin cutting back on some of their Covid-19 policies after public anger on a zero-tolerance method which has been isolating the country for the past few years. The new initiative will stop mandatory testing for public transport and public areas as well as pushing for vaccinations for elderly and vulnerable citizens. One ETF involved in these markets is the iBET Sports Betting and Gaming ETF (IBET) which follows many companies in the region including Las Vegas Sands Corp. (LVS) and Wynn Resorts (WYNN). IBET has been up almost 10% in the past month.
ETF Newz Says:
China has one of if not the largest casino markets in the world and the cutbacks will help them to grow back to their pre-Covid levels.