Casino Stocks (LVS, WYNN, MGM) Are Getting A Bid Today

Investors are continuing today to buy up the casino related stocks. Las Vegas Sands (NYSE: LVS) is currently trading up 12% to $12.50, MGM Mirage (NYSE: MGM) is up 8% to $8.80 and Wynn (Nasdaq: WYNN) is up 5% to $58.42.

Earlier in the week, MGM MIRAGE posted better-than-expected Q2 results. Also, recently, Jim Cramer has been extremely bullish on Wynn saying it could go to $70, but he also gave the "Don't Buy" on MGM Mirage and Las Vegas Sands. Wynn did report strong earnings last last week.

Last week, Las Vegas Sands reported strong results by better managing its assets and increasing occupancy. Las Vegas Sands expects to have fully implemented approximately $200 million in annualized cost savings across our Las Vegas operations by end of year. Also, W

As the economy strengthens, consumers will likely be more willing to spend their money on luxury vacations such as visiting Las Vegas casinos. So if we continue to see strong economic numbers (jobs this morning) then the casino stocks like LVS, MGM and WYNN should stay strong.

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