Gaming Stocks Show Upward Trend Tuesday

Positive news from Atlantic City helped spur a rise in many gaming stocks.

Gaming companies rebounded Tuesday from the doldrums suffered over the past few months as the usual drumbeat of poor economic indicators was broken by good news.

Positive news from Atlantic City, where casinos revenues grew in relation to last year for the first month in almost a year, helped spur a rise in many gaming stocks. Also, companies with properties in Macau reported revenue there over twice that of the Las Vegas Strip, causing investors to think strongly of their stocks.

The Macau advantage in revenue over Vegas has grown at a spectacular rate, caused mostly by elite and high-roller play.

Wynn Resorts rose $5.04 a share, or 5.5%. Las Vegas Sands rose $1.53, or 2.2%. MGM Mirage rose $2.07, or 3.5 %. All three have extensive investment in Macau.

Even casino stocks without Macau locations did well. Boyd Gaming rose 60 cents, or 3.25%. Pinnacle Entertainment rose 47 cents, or 3.6%.

The gaming industry has generally been considered recession-proof. The last few months have shown that even the strongest sectors can be slowed by worldwide economic patterns; but perhaps the casinos, last to feel the deletirious effects, may also feel them least.