Edgar Filing: MGM MIRAGE

Ownership Submission

FORM 4

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person ^*

WILLIE DAVIS

2. Issuer Name and Ticker or Trading Symbol
MGM MIRAGE [MGM]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

__X__ Director	_____ 10% Owner
_____ Officer (give title below)	_____ Other (specify below)

(Last)

(First)

(Middle)

3600 LAS VEGAS BLVD. SOUTH

3. Date of Earliest Transaction (Month/Day/Year)
04/27/2005

(Street)

LAS VEGAS, NV 89109

4. If Amendment, Date Original Filed(Month/Day/Year)
04/29/2005

6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

(City)

(State)

(Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock $.01 Par Value ND	04/27/2005	04/27/2005	M		2,500	A	$ 40.22	3,500	D
Common Stock $.01 Par Value ND	04/27/2005	04/27/2005	M		4,500	A	$ 34.15	8,000	D
Common Stock $.01 Par Value ND	04/27/2005	04/27/2005	M		3,375	A	$ 34.15	11,375	D
Common Stock $.01 Par Value ND	04/27/2005	04/27/2005	M		1,800	A	$ 34.15	13,175	D
Common Stock $.01 Par Value ND	04/27/2005	04/27/2005	M		1,250	A	$ 28.5	14,425	D
Common Stock $.01 Par Value ND	04/27/2005	04/27/2005	M		2,000	A	$ 17	16,425	D
Common Stock $.01 Par Value ND	04/27/2005	04/27/2005	M		10,000	A	$ 17.6875	26,425	D
Common Stock $.01 Par Value ND	04/27/2005	04/27/2005	S		7,321	D	$ 69.25	19,104	D
Common Stock $.01 Par Value ND	04/27/2005	04/27/2005	S		526	D	$ 69.26	18,578	D
Common Stock $.01 Par Value ND	04/27/2005	04/27/2005	S		2,255	D	$ 69.2531	16,323	D

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security
(Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code
(Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date
(Month/Day/Year)

7. Title and Amount of Underlying Securities
(Instr. 3 and 4)

8. Price of Derivative Security
(Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)

11. Nature of Indirect Beneficial Ownership
(Instr. 4)

Code

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Stock Options (Right to buy)

$ 17

04/27/2005

2,000

05/05/1999

05/05/2008

Common Stock $.01 Par Value ND

2,000

$ 0

0 ⁽¹⁾

Stock Options (Right to buy)

$ 17.6875

04/27/2005

10,000

02/28/1998

02/28/2007

Common Stock $.01 Par Value ND

10,000

$ 0

0 ⁽¹⁾

Stock Options (Right to buy)

$ 28.5

04/27/2005

1,250

05/13/2004

05/13/2013

Common Stock $.01 Par Value ND

1,250

$ 0

3,750 ⁽²⁾

Stock Options (Right to buy)

$ 34.15

04/27/2005

1,800

05/04/2000

05/04/2009

Common Stock $.01 Par Value ND

1,800

$ 0

0 ⁽³⁾

Stock Options (Right to buy)

$ 34.15

04/27/2005

3,375

08/01/2001

08/01/2010

Common Stock $.01 Par Value ND

3,375

$ 0

1,125 ⁽³⁾

Stock Options (Right to buy)

$ 34.15

04/27/2005

4,500

05/01/2002

05/01/2011

Common Stock $.01 Par Value ND

4,500

$ 0

0 ⁽³⁾

Stock Options (Right to buy)

$ 40.22

04/27/2005

2,500

05/07/2003

05/07/2012

Common Stock $.01 Par Value ND

2,500

$ 0

2,500 ⁽²⁾

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
WILLIE DAVIS 3600 LAS VEGAS BLVD. SOUTH LAS VEGAS, NV 89109	X

Signatures

Bryan L. Wright, Attorney-In-Fact		05/06/2005
^**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	Options granted under MGM MIRAGE 1997 Nonqualified Stock Option Plan. Vesting plan calls for options to become exercisable in equal 20% yearly amounts commencing on the first anniversary of the grant date.
(2)	Options granted under MGM MIRAGE 1997 Nonqualified Stock Option Plan. Vesting plan calls for options to become exercisable in equal 25% yearly amounts commencing on the first anniversary of the grant date.
(3)	Represents options regranted to the reporting person pursuant to the Company's 2001 Stock Option Exchange Program.

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