Why Diamondback Energy, Depomed, Las Vegas Sands and More Are Trending

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Las Vegas Sands Corp. (NYSE:LVS)Wynn Resorts, Limited (NASDAQ:WYNN), and MGM Resorts International (NYSE:MGM) are in the spotlight after total Macau sales beat analyst estimates again, this time for the month of September. According to Bloomberg, gross gaming revenue for the month inched up by 7.4% year-over-year to 18.4 billion patacas ($2.3 billion). Analysts were expecting around a 4% year-over-year increase. September’s rise is the second-straight monthly rise, following August’s increase of around 1.1% year-over-year. One reason for the increase is due to new casino projects opening from Wynn and Las Vegas Sands. As for the month of October, analysts are not as bullish due to the potential for Chinese Premier Li Keqiang visiting the area.

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Of the three stocks, the smart money in our system liked MGM Resorts International (NYSE:MGM) the most as of June 30, with 59 funds reporting holding stakes in the casino as of that date. Meanwhile, 23 funds were long Las Vegas Sands Corp. (NYSE:LVS) and 30 funds were shareholders of Wynn Resorts, Limited (NASDAQ:WYNN) at the end of the second quarter.

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Disclosure: None

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