Casino Winners: MGM Mirage, Sands

Casino stocks are advancing ahead of first-quarter earnings reports, sending MGM Mirage to reach a 52-week high.
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NEW YORK (

TheStreet

) -- Casino stocks are in the green ahead of first-quarter earnings reports, with

MGM Mirage

(MGM) - Get Report

hitting yet another 52-week high.

MGM was trading at a high of $16.53 a share, before falling back to $16.43.

This comes as

Las Vegas Sands

(LVS) - Get Report

prepares to open the first part of its $5.7 billion Singapore casino tomorrow. It will be the world's second most expensive casino, rivaling only MGM's CityCenter, which opened late last year.

Sands' newest development is expected to generate $1 billion in profit annually. Currently there is only one other casino operating in Singapore, which is owned by

Genting Singapore

.

Shares of Sands are gaining 4.7% to $26.29 in morning trading.

Casino operators have been focused on overseas expansion as the U.S. gaming market remains weak.

Wynn Resorts

(WYNN) - Get Report

, for one, opened its $600 million Encore in Macau last week and said it is considering moving its headquarter from Las Vegas to the Chinese gambling hub.

Other notable gainers are Macau-based

Melco Crown Entertainment

(MPEL)

, which is advancing 3.3% to $5.01 in early trading and

Boyd Gaming

(BYD) - Get Report

, which is climbing 2.8% to $12.16.

-- Reported by Jeanine Poggi in New York.

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