Casino stocks were mostly trading higher on Wednesday.

MGM Mirage ( MGM) rebounded some from Tuesday's selloff, rising 4% to $4.63.

Boyd Gaming ( BYD) was up 2.4% to $5.07.

Melco Entertainment ( MPEL) was up 4.7% to $4.24.

Wynn Entertainment ( WYNN) was up 2.3% to $27.32.

Penn National Gaming ( PENN) was higher by 0.2% to $25.74.

Las Vegas Sands ( LVS) shares were down 2.2% to $3.94. The company made its pitch at the Texas Statehouse on Wednesday in support of casino gambling in the Lone Star State.

"Not all casinos are created equal," said Sheldon Adelson, Las Vegas Sands chairman and CEO. "Destination resort is the way to go."

Adelson predicted his company and others would be interested in vying for casino licenses in Texas. He said construction money would be available despite the economy, which is weighing heavily on casino industry profits.

Gambling interests have pressed for casinos in Texas for several legislative sessions but haven't been successful.
Copyright 2009 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. AP contributed to this report.

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