MGM Grand, Inc. (NYSE: MGG) today
reported record results, which produced all-time record revenue, cash flow and
earnings per share for both the fourth quarter and year ended December 31,
1999.  Earnings per share for the fourth quarter, before non-recurring
expenses, grew 73% to a record 71 cents a share for the 1999 fourth quarter,
from 41 cents a share in the prior year`s quarter.  These results exceeded the
average estimate of 64 cents for the fourth quarter from analysts polled by
First Call Corp.  This is the fifth consecutive quarter of better than
expected earnings.  For the twelve months ended December 31, 1999, the Company
recorded a 93% increase in earnings per share to $2.35 compared with $1.22 in
the prior year, before non-recurring expenses.  The Company achieved these
milestones due to strong casino and hotel volumes, the positive earnings
contribution from the acquisition of Primadonna Resorts, Inc. and the
successful opening of the MGM Grand Detroit Casino.

Fourth Quarter Company Highlights:
—All-time record high net revenue of $420.9 million
—Earnings increased 73% to an all-time record 71 cents per diluted share
    before non-recurring expenses
—Operating cash flow (“EBITDA”) soared to an all-time record
    $127 million

—All properties generated significant free cash flow from operations

—Announced a 2-for-1 stock split to shareholders of record on
    February 10, 2000

—Announced a 10 cent per share quarterly cash dividend (after giving
    effect to the stock split) to shareholders of record on February 10,
    2000

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