Gaming Stocks Mixed on MGM Treasure Island News (MGM, LVS, WYNN)

After gapping substantial higher at this morning's open on news that MGM MIRAGE (NYSE: MGM) has found a buyer of its Treasure Island Hotel & Casino, gaming stocks have now moved off session highs. The sector is also seeing some upside today as Goldman Sachs raised its sector rating on gaming from In Line to Attractive.

Shares of MGM initially moved nearly 18% higher on the news, but have since given up gains. The stock most recently traded at $11.46, up 7.2% from yesterday's closing price. Las Vegas Sands (NYSE: LVS) is now up just 3% to $6.11 after trading up about 10% at the onset of today's trading session. Meanwhile, Wynn Resorts (Nasdaq: WYNN) appears to be the laggard in the sector today, currently down 3.8% to $40.48 after initially trading 6% higher over the $44 level at today's open.

The gaming stocks are mostly higher on the MGM news as it shows that there is still hope in this badly beaten up part of the consumer discretionary market.

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