MGM Grand, Inc. (NYSE: MGG) today
reported that its third quarter results produced all-time record highs in
revenues, cash flow and earnings per share.  Earnings per share for the third
quarter, before non-recurring expenses, grew 126% to 70 cents a share from 31
cents a share in the year ago quarter due to strong casino and hotel volume,
improved margins, the positive earnings contribution from the acquisition of
Primadonna Resorts, Inc. and the successful opening of the Company`s casino in
Detroit.  The results significantly exceeded the average estimate of 52 cents
from analysts polled by First Call Corp.

Third Quarter Company Highlights:

—All-time record high net revenues of $400.3 million

—Earnings increased 126% to 70 cents per diluted share before non-
      recurring expenses

—Operating cash flow (“EBITDA”) soared to an all-time record of
      $124.1 million

—EBITDA margins increased from 29% to 31% year-over-year

—Successfully opened the MGM Grand Detroit Casino on July 29th
—All properties generated significant free cash flow from operations

—Completed the previously announced tender offer of 6 million shares at
      $50 per share

—Commenced a twelve month stock repurchase program for up to 5 million
      shares

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