Casino Winners: Boyd Gaming, MGM
NEW YORK (
) --
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
, 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.
