Casino Winners: Boyd Gaming, MGM

Casino stocks are rallying ahead of Wynn Resort's earnings report after market.
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NEW YORK (

TheStreet

) --

Casino stocks are rallying

today as several have hit or neared 52-week highs.

The stock moves come as

Wynn Resorts

(WYNN) - Get Report

gears up to release its first-quarter earnings after market. Analysts are calling for earnings of 14 cents a share on revenue of $849.8 million.

Shares of Wynn are rising 4.3% to $92.60 ahead of the report.

Boyd Gaming

(BYD) - Get Report

reached a new high of $13.40, before falling back a bit in midday trading.

MGM Mirage

(MGM) - Get Report

neared a 52-week high, up to $16.55, before falling slightly to $16.46, or a gain of 4.2%.

Pinnacle Entertainment

(PNK) - Get Report

is advancing 4.8% to $14.30 after the company said it is planning a $250 million private offering of senior notes due in 2020.

Pinnacle plans to use the proceeds from the offering to purchase all of its existing senior subordinated notes due 2012, of which $200 million are outstanding. It will also use some of the funds to pay back part of the outstanding revolving credit borrowings and for development projects.

Earlier in the week, the regional casino operator reported a surprise gain in its first-quarter earnings.

Melco Crown Entertainment

(MPEL)

investors are profiting off yesterday's dip when it reported first-quarter earnings.

During the quarter, the

Melco lost $12.5 million

, or 2 cents a share, compared with a loss of $35.3 million, or 8 cents, in the year-ago period. This was in-line with analysts' estimates.

Melco revenue more than doubled to $567.6 million from $216.5 million, receiving a boost from its City of Dreams property, which opened in June 2009. Wall Street was calling for revenue of $558.01 million.

Shares of Melco are surging 5.8% to $4.93 in afternoon trading.

Las Vegas Sands is also jumping 3% to $25.90 in Thursday's final stretch.

-- Reported by Jeanine Poggi in New York.