Wednesday, December 8, 2010

MGM Resorts (NYSE:MGM) Up, Wynn (Nasdaq: WYNN), Las Vegas Sands (NYSE:LVS) Down

MGM Resorts (NYSE:MGM) is the strongest performer in the casino sector today, seemingly on the comments by an analyst from Bernstein who said a short-term move up is probable because of the company's Macau IPO, CityCenter refinancing, and possible Internet gambling legalization.

Wynn Resorts (Nasdaq:WYNN) and Las Vegas Sands (NYSE:LVS) on the other hand are down today, as the overall casino sector is considered dubious by many in the near term. Las Vegas Sands continues to be punished from the decision by Macau to not allow development to go forward on two parcels of land they had there.

MGM was trading at $13.62, up $0.11, or 0.81 percent, as of 1:03 PM EST. Bernstein has a price target of $12 on them.

Wynn was at $101.13, down $0.34, or 0.34 percent. Las Vegas Sands was trading at $45.94, down $1.65, or 3.47 percent.

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