MGM MIRAGE OPTIMISTIC DESPITE GLOOMY REPORT

February 02, 2002 1:03 AM
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Profits at the MGM Mirage fell 65 percent for the fourth quarter of last year.

Company bosses attributed the earning slide to the Sept. 11 terrorist attacks that dramatically reduced travel to Las Vegas.

MGM Mirage reported profits for the year at $220.5 million, down from $251.6 million in 2000. The company has an interest in 19 casinos on three continents, including seven in Las Vegas, three at Primm and one in Laughlin.

"What we employed as a strategy is clearly working," said company chairman Terry Lanni. "Our revenues have been recovering."