Casino Stocks Jump Following Wells Fargo Report

Casino stocks rallied on Monday following a report out of Wells Fargo. Analysts stated that Macau gaming revenues had risen by roughly 5-10% and were nearing a monthly record. Wells Fargo went on to say that they expect a slowdown in September -- historically a slow month -- but this did not stop the casino stocks from jumping. Following the report, Melco Crown Entertainment ADR was trading up 3.1% to just under $12, while Las Vegas Sands LVS was trading up 3.72% around $42.95. Shares of Wynn Resorts WYNN were also trading up, rallying roughly 1.5%.