Melco Crown (NASDAQ:MPEL) has been the hottest gaming stock over the past few years, but its run may be coming to an end. An enterprise to EBITDA valuation of 16.6 makes it one of the most expensive stocks in gaming, and the upside from two new resorts may already be priced in. 

Better values for investors looking for exposure to Macau include Las Vegas Sands (NYSE:LVS), MGM Resorts (NYSE:MGM), and Wynn Resorts (NASDAQ:WYNN), which all have lower multiples than Melco Crown. Erin Miller sat down with Motley Fool analyst Travis Hoium to see why he would be leery of Melco Crown right now. 

Erin Miller has no position in any stocks mentioned. Fool contributor Travis Hoium manages an account that owns shares of Wynn Resorts. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.