MGM's profit in the second quarter climbed 4% from the same 2005period, the company announced Thursday morning. Company executivesattributed the increase to strong performance at the Bellagio andother high-end properties. Then they cited an apparent softening inits lower-end "value" properties like Circus Circus and predicted alower-then-expected profit for the third quarter. Trading at nearlyfour times average volume, shares hit a 52-week low of $34.24before rebounding to $35.21, down just over 7% ($2.69) on theday.

MGM's second quarter net income increased to $146.4 million, or$0.50 cents per share, from $141.2 million, or $0.48 cents pershare, in the same period last year. Wall Street's averageexpectation was for $0.53 per share. MGM also projected earnings of$0.40 per share for the third quarter, about 10% below previousexpectations. MGM's revenue for the quarter rose 9% to $1.87billion from $1.72 billion in the same period a year ago, but WallStreet expected $1.8 billion. Earnings would have been $0.56 pershare save for one-time charges such as pre-opening expensesrelated to the Beatles-Cirque du Soleil show "Love" at theMirage.

Las Vegas Sands Corp. reported a 27% jump in second quarterprofit after the close of trading Wednesday. Company officialscited another record performance by its Macau casino. Then theycited inefficiencies in its operations at the Venetian in LasVegas. On Thursday, investors traded four million more shares thanusual and at the end of the day Las Vegas Sands shares stood at$60.81, off 6.85% ($4.47) on the day.