Casino stocks stay on hot streak

|By:, SA News Editor

Casino stocks start the week off in fine fashion as the sector remains hot.

A bullish note from Wells Fargo on explosive growth of the mass-market segment in Macau is boosting sentiment. Positive forecasts on the prospects for gaming revenue in Singapore and Japan are also helping to tip sentiment.

A solid start to online gambling in New Jersey has seen analysts lift long-term profit forecasts for some of the U.S. regional casino players as analysts weigh how the online story will play out.

The Market Vector Gaming ETF (BJK)  has trailed some of the larger U.S.-based casino stocks over the last 3 months due to its weighting toward global firms.

Gainers: Melco Crown (MPEL) +2.3%, Caesars Entertainment (CZR) +2.3%, Boyd Gaming (BYD) +2.3%, Las Vegas Sands (LVS) +2.0%, Wynn Resorts (WYNN) +2.0%.