Fourth quarter net income was $201.6 million, or $0.69 cents per share, on revenue of $2.02 billion, compared with $97.8 million, or 33 cents per share, on revenue of $1.82 billion, during the same period a year ago. For all of 2006, profit increased 46.3% to $648.3 million, or $2.22 per share, on revenue of $7.8 billion, from $443.3 million, or $1.50 per share, on revenue of $6.69 billion, in 2005.

The company said it saw $86 million in fourth quarter income from Hurricane Katrina insurance recoveries. Profits from the sale of condominium units in Tower 2 of The Signature at MGM Grand in Las Vegas contributed $0.15 cents per share to earnings during the quarter while property transactions, which include Katrina insurance recoveries, contributed an additional $0.17 cents per share.

Gaming revenue climbed 13% during the quarter thanks to strong results in Las Vegas and at the Beau Rivage in Biloxi, Miss., which was fully reopened during the quarter after having been damaged by Hurricane Katrina. The company's revenue from hotels gained 8% during the quarter.