Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Why Are Traders Piling Into These 5 Stocks Thursday?

Casino Stocks Spike on Macau Strength

Wynn Resorts, Limited (NASDAQ:WYNN)Las Vegas Sands Corp. (NYSE:LVS), and Melco Crown Entertainment Ltd (ADR) (NASDAQ:MPEL) are up by 5%, 5%, and 7% respectively, after new data showed that aggregate gambling revenue in Macau rose by 1.1% for the month of August. Analysts were expecting a 1.5% decline instead. The rise in Macau gambling revenue for the month of August is the first monthly year-over-year rise for the region in around two years. Gambling revenue in Macau has fallen substantially since 2014 due to China’s crackdown on corruption, which has sharply curtailed high-margin VIP activity in many Macau casinos. Given today’s numbers, bullish investors hope August’s results will mark a turning point in terms of demand.

Follow Wynn Resorts Ltd (NASDAQ:WYNN)
Trade (NASDAQ:WYNN) Now!

Of the 750 hedge funds in our system that filed 13F’s for the June 30 reporting period, the smart money liked Wynn the most, with 30 of them reporting long positions in the stock as of the end of June. In second place was Las Vegas Sands Corp. (NYSE:LVS), with 23 funds being long the stock, while Melco Crown Entertainment Ltd (ADR) (NASDAQ:MPEL) brought up the rear, with the stock being in the portfolios of 16 hedge funds in our database.

Follow Las Vegas Sands Corp (NYSE:LVS)
Trade (NYSE:LVS) Now!

Disclosure: None

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.