MGM MIRAGE Reports Record First Quarter Results

April 21, 2004
PRNewswire-FirstCall
LAS VEGAS

MGM MIRAGE (NYSE: MGG) today reported its first quarter 2004 financial results. Adjusted earnings from continuing operations per diluted share ("Adjusted EPS") increased to an all-time record $0.70 in the first quarter of 2004 from $0.38 in the 2003 quarter. The increase resulted from strong visitor levels and customer spending in all areas, highlighted by a significant 11% increase in REVPAR (revenue per available room) at the Company's Las Vegas Strip resorts.

Adjusted EPS (and Adjusted Earnings) excludes discontinued operations, preopening and start-up expenses, restructuring costs, property transactions, and loss on early retirement of debt.(1) On a GAAP (Generally Accepted Accounting Principles) basis, diluted earnings per share from continuing operations more than doubled to $0.66 for the first quarter of 2004 from $0.32 in the 2003 quarter. GAAP diluted EPS, including the results of discontinued operations, was $0.72 in the 2004 period versus $0.33 in 2003.

"Our first quarter was satisfying in many regards and we achieved several milestones, including record EPS and EBITDA. This was our most profitable quarter ever, with the highest EBITDA margin since the formation of MGM MIRAGE four years ago," said Terry Lanni, MGM MIRAGE's Chairman and CEO. "These results further validate our strategy of operating the premier resorts on the Las Vegas Strip. Bellagio and MGM Grand, for example, each had their most profitable quarter ever. We expect to build momentum throughout 2004 as we continue to roll out new and exciting guest amenities at several of our resorts."

                  First Quarter 2004 Company Highlights

   *  Generated net revenues of $1.07 billion, up 12% from 2003;

   *  Produced property-level EBITDA(2) of $370.5 million, up 29% over prior
      year and an all-time Company record for any quarter, and operating
      income of $255 million, up 60% over 2003;

   *  Invested $174 million of capital in the Company's resorts, including
      the Bellagio room remodel and expansion project, and the new theatre
      for a Cirque du Soleil show scheduled to open at MGM Grand Las Vegas
      in 2004;

   *  Reduced debt by $139 million in the quarter, including the repurchase
      of $49 million of the Company's publicly-traded debt securities;

   *  Repurchased 2.9 million shares of Company common stock for
      $121 million.  The Company is authorized to repurchase 5.1 million
      shares as of March 31, 2004;

   *  Issued $525 million of 5.875% Senior Notes due 2014;

   *  Closed the sale of the Golden Nugget resorts in Las Vegas and Laughlin
      for $215 million;

   *  Announced the proposed sale of MGM Grand Australia to SKYCITY
      Entertainment Group Limited for A$195 million (approximately
      $143 million), expected to close by the third quarter.


                        Detailed Financial Results

The following table shows key financial results on a Company-wide basis for the first quarter:

                                                  Three months ended
                                                       March 31,
                                                 2004            2003
                                                     (In millions)
   Casino revenue                             $  558.7        $  496.2
   Non-casino revenue, net                       507.7           455.7
   Net revenue                                 1,066.4           951.9
   Operating income                              254.7           159.5
   Income from continuing operations              97.1            48.8
   Discontinued operations, net                    8.7             2.2
   Net income                                    105.8            51.0
   ____________________________________________________________________

   Property-level EBITDA(2)                   $  370.5        $  287.7
   EBITDA (after corporate expense)(2)           354.8           274.0
   Adjusted Earnings                             102.4            57.9


Except where noted, all references in this release to operating results, including statistical information, exclude the results of Golden Nugget Las Vegas, Golden Nugget Laughlin, MGM Grand Australia and MGM MIRAGE Online for all periods presented. The results of these operations are classified as discontinued operations.

Net revenue in the first quarter increased 12% from the 2003 first quarter. Results were strong in all operating departments. A solid convention calendar and increased visitation to Las Vegas yielded significant gains in room rates and considerable increases in gaming volumes.

Casino revenue increased by 13% in the 2004 quarter. Table games volume, including baccarat, was up 12% from the prior year's quarter, with a 15% increase at the Company's Las Vegas Strip resorts, resulting from strong Chinese New Year and Super Bowl events and continued improvement in the United States economy. Table games hold percentages were within a normal range for both periods. The Company had previously announced that table games hold percentages were below normal through Chinese New Year, but results for the remainder of the quarter, subsequent to Chinese New Year, were more favorable. Company-wide slot revenue in the quarter was up 10% from 2003, led by double-digit increases at MGM Grand Las Vegas, New York-New York, The Mirage and MGM Grand Detroit.

Non-casino revenue was up 11% in the quarter. Hotel revenue was up 10%, with occupancy of 90% in the first quarter of 2004, consistent with 2003, and a higher average daily room rate ("ADR") of $138 versus $127 in 2003. This is the highest quarterly ADR in the Company's history. As a result, REVPAR was $124, up 9% over REVPAR of $114 in 2003. REVPAR at the Company's Las Vegas Strip resorts increased 11%, impacted positively by strong conference and group business and higher rates across all segments.

Food and beverage revenue increased 16%, as new restaurants such as the Nine Fine Irishmen Pub at New York-New York, and Fiamma Trattoria and SeaBlue at MGM Grand Las Vegas have allowed guests to spend a greater share of their dining budget at the Company's resorts. Entertainment revenues were up slightly in the 2004 quarter despite the closure of the Siegfried & Roy show in October 2003 and fewer performances by Danny Gans at The Mirage. Zumanity, which debuted in August 2003, continues to perform exceptionally well at New York-New York. Retail revenues were up 10%, driven by new retail outlets and increased spending by guests.

EBITDA was up 29% for the quarter, reflecting the operating trends described above and the benefit of the results from Borgata. The percentage increase in EBITDA was higher than the percentage increase in net revenue due to the enhanced pricing power in non-gaming amenities, which largely flows through to profit. The Company's property-level EBITDA margin was 35% in 2004 versus 30% in the 2003 quarter. Operating income increased 60% over the 2003 quarter, and the Company's operating margin improved to 24% from 17% in 2003. The higher percentage increase in operating income than EBITDA was due to lower preopening and start-up expenses and lower property transactions in 2004.

First quarter Adjusted Earnings increased by 77% compared to 2003 due to the higher operating income. Net interest expense increased over the 2003 quarter due to higher average borrowings and the cessation of interest capitalization on the Company's investment in Borgata, which opened on July 3, 2003. For the first quarter of 2004, Adjusted Earnings excluded $8.0 million ($5.2 million, net of tax) of items as follows:

   *  Net property transactions of $1.7 million ($1.1 million, net of tax),
      including $0.9 million of demolition costs, primarily at Bellagio in
      connection with the room remodel and expansion projects, and other net
      losses on disposal of assets;

   *  Restructuring costs of $0.4 million ($0.3 million, net of tax);

   *  Preopening and start-up expenses of $0.4 million ($0.2 million,
      net of tax);

   *  Loss on early retirement of debt of $5.5 million ($3.6 million, net
      of tax) related to the repurchase and retirement of the Company's
      publicly-traded debt securities, classified within "Other, net".

In the first quarter of 2003, items excluded in the determination of Adjusted Earnings included $6.5 million ($4.3 million, net of tax) of preopening and start-up expenses, primarily related to Borgata and Players Club; restructuring costs of $0.6 million ($0.4 million, net of tax); and property transactions of $6.8 million ($4.4 million, net of tax) related to assets abandoned or replaced in connection with construction projects and demolition costs at MGM Grand Las Vegas.

Income from discontinued operations includes the results of Golden Nugget Las Vegas, Golden Nugget Laughlin, MGM Grand Australia, and MGM MIRAGE Online. Pretax income from discontinued operations was $14 million in the 2004 quarter compared to $5 million in the 2003 quarter. The current year quarter includes the $8 million gain on the sale of the Golden Nugget resorts. The prior year quarter included significant expenses related to MGM MIRAGE Online's start-up efforts. Interest allocated to discontinued operations was $1 million for the first quarter of 2004 and $3 million for the 2003 period.

Financial Position

The Company generated significant operating cash flow in the first quarter as a result of its positive operating results. The Company utilized available cash flow, including the $215 million received from the sale of the Golden Nugget resorts and $71 million of proceeds upon exercise of employee stock options, to repay $139 million of net debt, invest $174 million in capital projects, repurchase $49 million of the Company's publicly-traded debt securities, and repurchase $121 million of the Company's common stock.

First quarter capital investments of $174 million included $58 million for the Bellagio expansion, $43 million for construction of the new theatre for Cirque du Soleil at MGM Grand Las Vegas, costs related to the Bellagio and New York-New York room remodel projects and other routine capital expenditures.

In order to take advantage of historically low interest rates and ensure maximum flexibility for future growth prospects, the Company issued $525 million of 5.875% Senior Notes due 2014, the proceeds from which were used to repay amounts outstanding under the Company's senior credit facility. As of March 31, 2004, the Company had $1.5 billion available under its senior credit facility.

In November 2003, the Company's Board of Directors approved a 10 million share repurchase program. During the first quarter of 2004, the Company repurchased 2.9 million shares of common stock for $121 million under this authorization, leaving 5.1 million shares available for future purchase as of March 31, 2004.

"Our strong operating results and financing transactions in the first quarter have further strengthened our balance sheet and enhanced our ability to profitably grow our company," said Jim Murren, MGM MIRAGE President and CFO. "We are pleased with the operating performance of our existing resorts and are excited about the prospects of globally expanding our portfolio."

Outlook

"Our extraordinary first quarter demonstrates the tremendous operating leverage inherent in our market-leading resorts. If current trends continue, we expect to produce year-over-year gains in earnings throughout 2004. At this early stage, we believe the current earnings estimate consensus of $0.51 per share for the second quarter of 2004, as reported on First Call on April 20, 2004, is reasonable," Mr. Murren said. "Our current forecast indicates that company-wide REVPAR for the second quarter will be up approximately 7% over last year, with REVPAR at our Las Vegas Strip resorts up a vibrant 9%." The Company's guidance includes the impact of business interruption of approximately $0.01 per share, net of our preliminary estimates of insurance recoveries, resulting from the recent power outage at Bellagio.

MGM MIRAGE will hold a conference call to discuss its earnings results and outlook for the first quarter of 2004 at 11:00 a.m. Eastern Daylight Time today. The call can be accessed live at www.companyboardroom.com or www.mgmmirage.com, or by calling 1-800-526-8531 (domestic) or 1-706-634-6528 (international). A complete replay of the conference call will be made available at www.mgmmirage.com.

   (1)  Adjusted Earnings (and Adjusted EPS) is presented solely as a
        supplemental disclosure because management believes that it is 1) a
        widely used measure of performance, and 2) a principal basis for
        valuation of gaming companies, as this measure is considered by many
        to be a better measure on which to base expectations of future
        results than income from continuing operations computed in
        accordance with generally accepted accounting principles ("GAAP").
        Reconciliations of GAAP income from continuing operations and EPS to
        Adjusted Earnings and EPS are included in the financial schedules
        accompanying this release.

   (2)  EBITDA is earnings before interest and other non-operating income
        (expense), taxes, depreciation and amortization, restructuring,
        preopening and start-up expenses, and property transactions, net.
        EBITDA is presented solely as a supplemental disclosure because
        management believes that it is 1) a widely used measure of operating
        performance in the gaming industry, and 2) a principal basis for
        valuation of gaming companies.  Management uses property-level
        EBITDA (EBITDA before corporate expense) as the primary measure of
        the Company's operating resorts' performance, including the
        evaluation of operating personnel.  EBITDA should not be construed
        as an alternative to operating income, as an indicator of the
        Company's operating performance; or as an alternative to cash flows
        from operating activities, as a measure of liquidity; or as any
        other measure determined in accordance with generally accepted
        accounting principles.  The Company has significant uses of cash
        flows, including capital expenditures, interest payments, taxes and
        debt principal repayments, which are not reflected in EBITDA.  Also,
        other gaming companies that report EBITDA information may calculate
        EBITDA in a different manner than the Company.  Reconciliations of
        operating income to EBITDA are included in the financial schedules
        accompanying this release.


MGM MIRAGE (NYSE: MGG), one of the world's leading and most respected hotel and gaming companies, owns and operates 12 casino resorts located in Nevada, Mississippi, Michigan and Australia, and has investments in two other casino resorts in Nevada and New Jersey. The company is headquartered in Las Vegas, Nevada, and offers an unmatched collection of casino resorts with a limitless range of choices for guests. Guest satisfaction is paramount, and the company has approximately 40,000 employees committed to that result. Its portfolio of brands include AAA Five Diamond award-winner Bellagio, MGM Grand Las Vegas - The City of Entertainment, The Mirage, Treasure Island ("TI"), New York - New York, Boardwalk Hotel and Casino and 50 percent of Monte Carlo, all located on the Las Vegas Strip; Whiskey Pete's, Buffalo Bill's, Primm Valley Resort and two championship golf courses at the California/Nevada state line; the exclusive Shadow Creek golf course in North Las Vegas; Beau Rivage on the Mississippi Gulf Coast; and MGM Grand Detroit Casino in Detroit, Michigan. The Company is a 50-percent owner of Borgata, a destination casino resort at Renaissance Pointe in Atlantic City, New Jersey. Internationally, MGM MIRAGE also owns a 25 percent interest in Triangle Casino, a local casino in Bristol, United Kingdom. The Company has entered an agreement to sell MGM Grand Australia in Darwin, Australia, pending finalization. For more information about MGM MIRAGE, please visit the company's website at http://www.mgmmirage.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.

                         MGM MIRAGE AND SUBSIDIARIES
                    CONSOLIDATED STATEMENTS OF OPERATIONS
                    (In thousands, except per share data)
                                 (Unaudited)

                                                   Three Months Ended
                                                 March 31,      March 31,
                                                   2004           2003
  Revenues:
    Casino                                      $  558,723     $  496,221
    Rooms                                          234,961        213,298
    Food and beverage                              217,764        188,077
    Entertainment                                   67,242         65,143
    Retail                                          45,098         41,090
    Other                                           51,086         52,349
                                                 1,174,874      1,056,178
    Less: Promotional allowances                   108,438        104,304
                                                 1,066,436        951,874
  Expenses:
    Casino                                         277,603        262,016
    Rooms                                           61,832         57,906
    Food and beverage                              119,549        105,252
    Entertainment                                   46,579         46,733
    Retail                                          28,512         26,586
    Other                                           32,884         30,485
    Provision for doubtful accounts                  6,877          7,636
    General and administrative                     146,281        138,300
    Corporate expense                               15,738         13,746
    Preopening and start-up expenses                   381          6,547
    Restructuring costs                                414            605
    Property transactions, net                       1,739          6,816
    Depreciation and amortization                   97,553        100,550
                                                   835,942        803,178

  Income from unconsolidated affiliates             24,172         10,789

  Operating income                                 254,666        159,485

  Non-operating income (expense):
    Interest income                                    903          1,708
    Interest expense, net                          (89,810)       (82,798)
    Non-operating items from
     unconsolidated affiliates                      (6,205)          (151)
    Other, net                                      (7,154)           768
                                                  (102,266)       (80,473)

  Income from continuing operations
   before income taxes                             152,400         79,012
    Provision for income taxes                     (55,260)       (30,236)
  Income from continuing operations                 97,140         48,776

  Discontinued operations
    Income from discontinued operations,
     including gain on disposal of $8,186
     (three months 2004)                            13,869          4,732
    Provision for income taxes                      (5,161)        (2,505)
                                                     8,708          2,227

  Net income                                    $  105,848     $   51,003

  Per share of common stock:
    Basic:
    Income from continuing operations           $     0.68     $     0.32
    Discontinued operations                           0.06           0.02
    Net income per share                        $     0.74     $     0.34

    Weighted average shares outstanding            142,115        152,110

    Diluted:
    Income from continuing operations           $     0.66     $     0.32
    Discontinued operations                           0.06           0.01
    Net income per share                        $     0.72     $     0.33

    Weighted average shares outstanding            146,847        153,549



                         MGM MIRAGE AND SUBSIDIARIES
           RECONCILIATION OF GAAP INCOME FROM CONTINUING OPERATIONS
                     AND EPS TO ADJUSTED EARNINGS AND EPS
                    (In thousands, except per share data)
                                 (Unaudited)

                                                   Three Months Ended
                                                 March 31,      March 31,
                                                   2004           2003
  Income from continuing operations             $   97,140     $   48,776
  Preopening and start-up expenses, net                248          4,256
  Restructuring costs, net                             269            393
  Property transactions, net                         1,130          4,430
  Loss on debt retirements, net                      3,593             --
  Adjusted earnings                             $  102,380     $   57,855

  Per diluted share of common stock:
    Income from continuing operations           $     0.66     $     0.32
    Preopening and start-up expenses, net               --           0.03
    Restructuring costs, net                            --             --
    Property transactions, net                        0.01           0.03
    Loss on debt retirements, net                     0.03             --
    Adjusted EPS                                $     0.70     $     0.38

    Weighted average diluted shares outstanding    146,847        153,549


                         MGM MIRAGE AND SUBSIDIARIES
                  SUPPLEMENTAL DATA - NET REVENUES BY RESORT
                                (In thousands)
                                 (Unaudited)

                                                    Three Months Ended
                                                  March 31,     March 31,
                                                    2004           2003
    Bellagio                                    $  278,634     $  240,364
    MGM Grand Las Vegas                            223,020        184,143
    The Mirage                                     139,054        150,107
    Treasure Island                                 99,796         89,942
    New York-New York                               82,793         61,911
    MGM Grand Detroit                              103,917         94,769
    Beau Rivage                                     72,986         70,411
    Other operations                                66,236         60,227
                                                $1,066,436     $  951,874


                         MGM MIRAGE AND SUBSIDIARIES
                     SUPPLEMENTAL DATA - EBITDA BY RESORT
                                (In thousands)
                                 (Unaudited)

                                                    Three Months Ended
                                                 March 31,      March 31,
                                                    2004           2003
    Bellagio                                    $   99,019     $   68,163
    MGM Grand Las Vegas                             75,829         54,014
    The Mirage                                      40,128         42,360
    Treasure Island                                 31,303         26,223
    New York-New York                               32,124         25,515
    MGM Grand Detroit                               38,562         36,934
    Beau Rivage                                     16,789         14,849
    Other operations                                12,565          8,902
    Income from unconsolidated affiliates           24,172         10,789
                                                $  370,491     $  287,749



                         MGM MIRAGE AND SUBSIDIARIES
                 RECONCILIATION OF OPERATING INCOME TO EBITDA
                                (In thousands)
                                 (Unaudited)

                      Three Months Ended March 31, 2004

                            Depreci-   Pre-
                             ation   opening             Property
                              and      and     Restruc-   trans-
                Operating   amorti-  start-up   turing   actions,
                 income     zation   expenses    costs     net      EBITDA
  Bellagio      $ 77,091   $20,352   $    --    $   --    $1,576   $ 99,019
  MGM Grand
   Las Vegas      51,977    23,518       338        --        (4)    75,829
  The Mirage      27,411    12,657        --        --        60     40,128
  Treasure
   Island         22,651     8,660        --        --        (8)    31,303
  New York-
   New York       24,757     7,453       (86)       --        --     32,124
  MGM Grand
   Detroit        30,699     7,474        --        --       389     38,562
  Beau Rivage     11,674     5,304        --        --      (189)    16,789
  Other
   operations      8,265     4,385        --        --       (85)    12,565
  Unconsolidated
   affiliates     24,172        --        --        --        --     24,172
                 278,697    89,803       252        --     1,739    370,491
  Corporate
   and other     (24,031)    7,750       129       414        --    (15,738)
                $254,666   $97,553   $   381    $  414    $1,739   $354,753



                      Three Months Ended March 31, 2003

                            Depreci-   Pre-
                             ation   opening             Property
                              and      and     Restruc-   trans-
                Operating   amorti-  start-up   turing   actions,
                 income     zation   expenses    costs     net      EBITDA
  Bellagio      $ 40,281  $ 27,872   $    --    $   --    $   10   $ 68,163
  MGM Grand
   Las Vegas      26,879    20,188       591        25     6,331     54,014
  The Mirage      29,694    12,435        --       300       (69)    42,360
  Treasure
   Island         18,081     8,219        --        --       (77)    26,223
  New York-
   New York       19,471     5,950        52        --        42     25,515
  MGM Grand
   Detroit        28,197     8,581        --        --       156     36,934
  Beau Rivage     10,002     4,641        --        --       206     14,849
  Other
   operations      3,905     4,997        --        --        --      8,902
  Unconsolidated
   affiliates      6,716        --     4,073        --        --     10,789
                 183,226    92,883     4,716       325     6,599    287,749
  Corporate
   and other     (23,741)    7,667     1,831       280       217    (13,746)
                $159,485  $100,550   $ 6,547    $  605    $6,816   $274,003



                         MGM MIRAGE AND SUBSIDIARIES
                     SUPPLEMENTAL DATA - HOTEL STATISTICS
                                 (Unaudited)

                                                     Three Months Ended
                                                   March 31,    March 31,
                                                      2004         2003
  Bellagio
    Occupancy %                                      95.4%        92.7%
    Average daily rate (ADR)                          $255         $238
    Revenue per available room (REVPAR)               $243         $221

  MGM Grand Las Vegas
    Occupancy %                                      92.2%        92.7%
    Average daily rate (ADR)                          $139         $119
    Revenue per available room (REVPAR)               $128         $110

  The Mirage
    Occupancy %                                      94.2%        92.5%
    Average daily rate (ADR)                          $156         $148
    Revenue per available room (REVPAR)               $147         $137

  Treasure Island
    Occupancy %                                      96.5%        96.0%
    Average daily rate (ADR)                          $123         $110
    Revenue per available room (REVPAR)               $118         $106

  New York-New York
    Occupancy %                                      97.5%        98.4%
    Average daily rate (ADR)                          $119         $102
    Revenue per available room (REVPAR)               $116         $100

  Beau Rivage
    Occupancy %                                      86.1%        91.0%
    Average daily rate (ADR)                          $ 91         $ 87
    Revenue per available room (REVPAR)               $ 78         $ 79

  Other operations
    Occupancy %                                      69.2%        68.9%
    Average daily rate (ADR)                          $ 43         $ 44
    Revenue per available room (REVPAR)               $ 30         $ 30



                         MGM MIRAGE AND SUBSIDIARIES
                         CONSOLIDATED BALANCE SHEETS
                      (In thousands, except share data)
                                 (Unaudited)

                                                March 31,    December 31,
                                                  2004           2003

                                    ASSETS
  Current assets:
    Cash and cash equivalents                $   196,413    $   178,047
    Accounts receivable, net                     161,883        139,475
    Inventories                                   63,230         65,189
    Income tax receivable                             --          9,901
    Deferred income taxes                         48,498         49,286
    Prepaid expenses and other                    88,516         89,641
    Assets held for sale                          86,516        226,082
         Total current assets                    645,056        757,621

  Property and equipment, net                  8,718,333      8,681,339

  Other assets:
    Investments in unconsolidated affiliates     772,976        756,012
    Goodwill and other intangible assets, net    232,671        267,668
    Deposits and other assets, net               277,383        247,070
         Total other assets                    1,283,030      1,270,750
                                             $10,646,419    $10,709,710

                     LIABILITIES AND STOCKHOLDERS' EQUITY

  Current liabilities:
    Accounts payable                         $    95,229    $    85,439
    Income taxes payable                          58,605             --
    Current portion of long-term debt              9,687          9,008
    Accrued interest on long-term debt            76,808         87,711
    Other accrued liabilities                    525,122        559,445
    Liabilities related to assets held
     for sale                                      7,235         23,456
         Total current liabilities               772,686        765,059

  Deferred income taxes                        1,732,256      1,765,426
  Long-term debt                               5,394,989      5,521,890
  Other long-term obligations                    135,544        123,547
  Stockholders' equity:
    Common stock ($.01 par value: authorized
     300,000,000 shares, issued
     171,194,901 and 168,268,213 shares
     and outstanding 143,143,001 and
     143,096,213 shares)                           1,712          1,683
    Capital in excess of par value             2,261,525      2,171,625
    Deferred compensation                        (16,795)       (19,174)
    Treasury stock, at cost
     (28,051,900 and 25,172,000 shares)         (882,378)      (760,594)
    Retained earnings                          1,239,751      1,133,903
    Accumulated other comprehensive income         7,129          6,345
         Total stockholders' equity            2,610,944      2,533,788
                                             $10,646,419    $10,709,710

SOURCE: MGM MIRAGE

CONTACT: Investment Community, James J. Murren, President, Chief
Financial Officer and Treasurer, +1-702-693-8877, or Media, Alan Feldman,
Senior Vice President, Public Affairs, +1-702-891-7147, both of MGM MIRAGE

Web site: http://www.mgmmirage.com/

Company News On-Call: http://www.prnewswire.com/comp/000725.html