When looking at valuation, Las Vegas Sands (LVS -6.33%), Melco Crown (MLCO -4.07%), MGM Resorts (MGM 0.93%), and Wynn Resorts (WYNN -6.23%) 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.