When looking at valuation, Las Vegas Sands (LVS -2.28%), Melco Crown (MLCO -0.67%), MGM Resorts (MGM -0.79%), and Wynn Resorts (WYNN -1.77%) 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.