Casino Stocks Jump Following Wells Fargo Report
Casino stocks rallied on Monday following a report out of Wells Fargo. Analysts stated that Macau gaming revenues had risen by roughly 5-10% and were nearing a monthly record.
Wells Fargo went on to say that they expect a slowdown in September -- historically a slow month -- but this did not stop the casino stocks from jumping.
Following the report, Melco Crown Entertainment (NASDAQ: ADR) was trading up 3.1% to just under $12, while Las Vegas Sands (NASDAQ: LVS) was trading up 3.72% around $42.95. Shares of Wynn Resorts (NASDAQ: WYNN) were also trading up, rallying roughly 1.5%.
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