Casino Stocks Enjoy a New Trend

Nevada’s gambling revenue jumped 8.1% to $960.7 million in October, according to data released Friday by state regulators.

The Las Vegas Strip accounts for more than half the total. Leading the growth, there was a gain of 13.3% to $560.5 million. Revenue from slot machines on the Strip was up 5.4% while table games excluding baccarat raked in 20.9% more. Baccarat win spiked more than 74% on a volume increase of 70.3%.

“The news helped push shares of MGM Resorts (NYSE:MGM) and Las Vegas Sands (NYSE:LVS) both up more than 2% while Wynn Resorts (NASDAQ:WYNN) made fractional gains in morning action,” according to MarketWatch.

Here’s how casino stocks closed the week:

MGM Resorts International (NYSE:MGM): MGM shares recently traded at $10.03, up $0.16, or 1.62%. They have traded in a 52-week range of $7.40 to $16.94. Volume today was 12,586,180 shares versus a 3-month average volume of 21,305,200 shares. The company’s trailing P/E is 1.73, while trailing earnings are $5.79 per share.

Las Vegas Sands Corp. (NYSE:LVS): LVS shares recently traded at $43.97, up $0.74, or 1.71%. They have traded in a 52-week range of $36.05 to $51.05. Volume today was 9,480,626 shares versus a 3-month average volume of 16,526,400 shares. The company’s trailing P/E is 29.31, while trailing earnings are $1.50 per share.

Wynn Resorts Ltd. (NASDAQ:WYNN): WYNN shares recently traded at $110.86, up $0.68, or 0.62%. They have traded in a 52-week range of $99.21 to $172.58. Volume today was 4,199,486 shares versus a 3-month average volume of 3,807,450 shares. The company’s trailing P/E is 25.88, while trailing earnings are $4.28 per share.

Melco Crown Entertainment Ltd. (NASDAQ:MPEL): MPEL shares recently traded at $9.20, up $0.15, or 1.66%. They have traded in a 52-week range of $5.55 to $16.15. Volume today was 3,719,162 shares versus a 3-month average volume of 9,013,260 shares. The company’s trailing P/E is 24.34, while trailing earnings are $0.38 per share.