-MGM Mirage, the world's second-
largest casino company, said second-quarter profit fell 69
percent as cash-strapped U.S. gamblers spent less at its Las
Vegas casinos.
Net income dropped to $113.1 million, or 40 cents a share,
from $360.2 million, or $1.22, a year earlier, the Las Vegas-
based company said today in a statement. Net revenue slid 2.1
percent to $1.9 billion from $1.94 billion.
MGM Mirage owns 10 casinos on the Las Vegas Strip, where
casino revenue slumped 16 percent in May, the fifth straight
monthly decline. The sluggish U.S. economy, exacerbated by the
worst housing slump since the Great Depression and [...]