When looking at valuation, Las Vegas Sands (LVS -1.18%), Melco Crown (MLCO 0.49%), MGM Resorts (MGM 0.99%), and Wynn Resorts (WYNN 1.38%) 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.