Casino Stocks Jump On News Japan Is Looking To Legalize Gambling

Casino stocks are up big this morning. Japan's PM Shinzo Abe is looking to legalize gambling in the state before the 2020 Tokyo Olympics. Growth in Japan has stalled over the years and the country ranks the lowest in the G7 for projected 2015 growth rates, according the Wall Street Journal:

As a means to turn around the faltering economy, PM Abe stated his party would seek to pass a law in the next parliament session (August 2014) to legalize casinos.  This morning the Casino Sector is gaining on the news.

As of 11AM Eastern Time:

Las Vegas Sands LVS - Up 1.33 percent, currently trading $76.12

Ceasar's Entertainment CZR - Up 2.24 percent, currently trading $18.24

Melcro Crown Entertainment MPEL - Up 2.20 percent, currently at $33.94

Wynn Resorts WYNN - Up 1.85 percent, currently $204.89

MGM MGM - Up 1.99 percent, currently $26.15