When looking at valuation, Las Vegas Sands (LVS -1.48%), Melco Crown (MLCO -0.90%), MGM Resorts (MGM -1.18%), and Wynn Resorts (WYNN -1.04%) are pretty evenly matched. The big difference among these stocks right now comes down to risk and reward. Gaming analyst Travis Hoium covers who's high-risk and who's low-risk in the video below.