3 Casino Stocks To Buy Now

Perhaps it’s because trading stocks can often mirror the thrill of winning big at the blackjack tables, or maybe it’s because Las Vegas conjures images of the world’s most flashy brands and businessmen. Regardless of the reason, it’s clear that casino stocks are always among the most popular on Wall Street.

Luckily for investors, now is also a great time to be buying casino stocks, as continued domestic strength and a great recovery in Macau have led to rising share prices. In fact, the overall gaming industry currently sits in the top 26% of the Zacks Industry Rank.

With casino stocks this hot right now, investors are not going to want to miss out. Luckily, we can use Zacks’ proven stock-picking methods to find solid stocks in any industry. Check out these highly-ranked casino stocks today:

1.       Wynn Resorts (WYNN - Free Report)

Led by the legendary Steve Wynn, this iconic gaming brand once again posted impressive earnings results in the most recent quarter. Wynn reported earnings of $1.24 per share and revenues of $1.48 billion, surpassing our respective consensus estimates of $0.74 and $1.34 billion. The company’s new Macau resort, the Wynn Palace, marked its second full quarter of operations, lifting total revenue figures 48% on a year-over-year basis.

Since the report, we’ve seen a flurry of earnings estimate revision activity for WYNN, lifting its current-quarter Zacks Consensus Estimate by 31 cents and giving the stock a Zacks Rank #1 (Strong Buy). And looking down the road, Wynn is positioned well in Macau and Vegas; the company just finalized plans for the Le Reve which it has designed to be the preeminent luxury hotel and destination casino resort in Sin City.

2.       Melco Crown Entertainment (MLCO - Free Report)

Melco Crown was another casino giant that really impressed in the most recent earnings season. The company, which gets the majority of its revenue from Macau, posted adjusted earnings of $0.24 per share, crushing the Zacks Consensus Estimate of $0.08. Revenues of $1.28 billion also topped our consensus estimate and soared 15.7% year-over-year.

Revenues in Macau grew 24% in the month of May, beating estimates and marking the tenth-straight month of growth in the region. This is great news for Melco Crown, which has steadily risen all year. Indeed, shares are up 40% year-to-date. Nevertheless, this Zacks Rank #1 (Strong Buy) stock is poised to break even higher.

3.       Golden Entertainment (GDEN - Free Report)

Formed in 2015 after the merger of Golden Gaming and Lakes Entertainment, Golden Entertainment is a regional casino and tavern operator that has been on an absolutely insane run this year, with shares gaining nearly 45% so far.

And while some investors may say that means GDEN is trading at a premium, all signs point to continued growth for this stock. Shares could certainly still march higher, as indicated by its Zacks Rank #2 (Buy) ranking, and it is fundamentally sound, evidenced by its “A” grades for Value and Growth.

Disclosure: Zacks.com contains statements and statistics that have been obtained from sources believed to be reliable but are not guaranteed as to accuracy or completeness. References to any specific ...

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