MGM MIRAGE Expects to Report Strong Fourth Quarter Results

January 08, 2001
PRNewswire
LAS VEGAS

MGM MIRAGE (NYSE: MGG) today announced that it expects its fourth quarter earnings to be in the range of 40 to 44 cents per share. This range compares to the average estimate of 39 cents a share from analysts polled by First Call Corp.

"Our business trends were strong throughout the fourth quarter," said J. Terrence Lanni, Chairman of MGM MIRAGE. "We continue to maximize the profitability of our superior portfolio of resorts."

MGM MIRAGE anticipates announcing its fourth quarter results on February 1, 2001.

MGM MIRAGE is an entertainment, hotel and gaming company headquartered in Las Vegas, Nevada, which owns and/or operates through subsidiaries 18 casino properties on three continents. Its U.S. holdings include: the MGM Grand Hotel and Casino - The City of Entertainment, Bellagio, The Mirage, Treasure Island, New York - New York Hotel and Casino, the Boardwalk Hotel and Casino and 50% of Monte Carlo, all located on the Las Vegas Strip; the Golden Nugget in Downtown Las Vegas; Whiskey Pete's, Buffalo Bill's and the Primm Valley Resort in Primm, Nevada as well as two championship golf courses at the California/Nevada Stateline; the Golden Nugget in Laughlin, Nevada; the Beau Rivage resort on the Mississippi Gulf Coast; and the MGM Grand Detroit Casino in Detroit, Michigan. The Company is a joint venture partner on a resort under development in Atlantic City, New Jersey and also controls several development sites in the ocean-front resort community. Internationally, MGM MIRAGE owns and operates the MGM Grand Hotel and Casino in Darwin, Australia and manages casinos in Nelspruit, Witbank and Johannesburg, Republic of South Africa.

For more information on MGM MIRAGE and its operating subsidiaries, visit our website at http://www.mgm-mirage.com/.

Statements in this release which are not historical facts are "forward looking" statements and "safe harbor statements" under the Private Securities Litigation Reform Act of 1995 that involve risks and/or uncertainties, including risks and/or uncertainties as described in the Company's public filings with the Securities and Exchange Commission.

SOURCE: MGM MIRAGE

Contact: investment community, James J. Murren, President and Chief
Financial Officer, 702-693-8877, or media, Alan Feldman, Vice President,
Public Affairs, 702-693-7147, both of MGM MIRAGE

Website: http://www.mgm-mirage.com/

Company News On-Call: http://www.prnewswire.com/comp/000725.html or fax,
800-758-5804, ext. 000725