Most of the major U.S.-traded gaming companies have reported earnings, and there are some big trends investors need to keep an eye on. 

Cotai continues to be a boon in Macau, and Las Vegas Sands (NYSE:LVS) and Melco Crown (NASDAQ:MLCO) are cash cows there. But the surprise was the strength from Wynn Resorts (NASDAQ:WYNN), which gained share despite being on the Macau Peninsula, and it's a good sign as it builds a resort on Cotai. 

In Las Vegas, MGM Resorts (NYSE:MGM) has become the hottest stock in gaming recently, partly because it's leveraging growth in both Macau and Las Vegas. 

Gaming analyst Travis Hoium covers these trends and what you should take from them in the following video. 

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.