Despite unremarkable earnings reports from all across the gaming industry, gaming stocks rose on Wall Street this week; apparently things aren't as bad as analysts had theorized.

Expecting the worst, Wall Street was pleasantly surprised when casinos such as MGM posted a second quarter revenue drop of only 2%. Boyd Gaming also announced earnings of 21.6 million for the quarter, slightly down from the previous quarters $22.1. The overall Wall Street impression seems to be that despite gaming companies like the Las Vegas Sands ending the second quarter with $8 million in losses, the gaming companies as a whole are handling the current economic crisis significantly better than expected.

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