Stock Watch: Wednesday Casino Update

We just wanted to quickly update you on the three stocks that we mentioned earlier that we are watching, MGM, LVS, and IGT.

All three stocks are casino stocks with long term value but a lot of uncertainty in the short term.

LVS and MGM were up yesterday, but appear to be on their way to a negative close today, below their opening week numbers. This roller coaster ride will probably continue for a few months, so we have to determine whether or not we are tall enough to ride.

IGT is holding pretty steady around the $15.70 per share mark, and really it's our third option at this point behind LVS and MGM.

Reader par88 also mentioned Boyd Gaming Corporation (BYD) as a possible casino stock that could return to prominence when things get straightened out, and we tend to agree. Currently trading in the mid-$8 range, we are keeping an eye on that one as well.

Nothing major has happened since Monday, and we expect to ride the storm out a little longer before riding the roller coaster that is stock in casinos.