MGM Resorts International – ‘SC 13E4/A’ on 8/6/99 re: MGM Resorts International – EX-99.(A)(12)

On:  Friday, 8/6/99   ·   Accession #:  944209-99-1271   ·   File #:  5-40054

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Amendment to Tender-Offer Statement — Issuer Tender Offer   —   Schedule 13E-4
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: SC 13E4/A   Amendment No. 1 to Schedule 13E-4/A                    4     16K 
 2: EX-99.(A)(10)  Press Release Dated July 26, 1999                   2      9K 
 3: EX-99.(A)(11)  Press Release Dated July 30, 1999                   2      8K 
 4: EX-99.(A)(12)  Press Release Dated August 5, 1999                  1      7K 
 5: EX-99.(G)(4)  Selected Text of Mgm Grand's 10-Q for 6/30/1999     16     87K 

EX-99.(A)(12)   —   Press Release Dated August 5, 1999

EX-99.(A)(12)
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                                                                  EXHIBIT (a) 12

[LETTERHEAD OF MGM GRAND, INC.]                                                 

FOR IMMEDIATE RELEASE                        CONTACT:  James J. Murren          
                                                     Chief Financial Officer
                                            (702) 891-3344

MGM GRAND'S BOARD APPROVES  
--------------------------  
FIVE MILLION SHARE REPURCHASE PROGRAM 
------------------------------------- 

Las Vegas, Nevada, August 5, 1999 -- MGM Grand, Inc. (NYSE: MGG) today announced
that its Board of Directors has approved a twelve month stock repurchase program
authorizing the Company to purchase up to 5,000,000 shares of the Company's     
common stock.  The purchases will be made from time to time in the open market  
or through privately negotiated transactions as market conditions warrant.  MGM 
Grand will finance the repurchase program through available cash, cash flow from
operations and, to the extent necessary, its existing credit facility.          

"The strong performance of our existing operations and our newest casino in     
Detroit affords us the opportunity to execute this program while maintaining the
best balance sheet in the industry.  We will continue our emphasis on maximizing
returns in order to accelerate our free cash flow.  Our financial position      
allows us to grow internally, reduce debt, as well as repurchase shares," said  
J. Terrence Lanni, Chairman and Chief Executive Officer of MGM Grand, Inc.      

* * * 

MGM Grand, Inc. is an entertainment, hotel and gaming company headquartered in  
Las Vegas, Nevada.  MGM Grand, Inc. owns and operates:  the MGM Grand Hotel and 
Casino - The City of Entertainment and New York - New York Hotel and Casino both
located in Las Vegas; Whiskey Pete's, Buffalo Bill's and the Primm Valley Resort
in Primm, Nevada; the MGM Grand Detroit Casino in Detroit, Michigan; the MGM    
Grand Hotel and Casino in Darwin, Australia; manages casinos in Nelspruit,      
Witbank and Johannesburg, Republic of South Africa; and owns two championship   
golf courses at the California/Nevada border.  MGM Grand is in the early stages 
of developing a permanent hotel and casino complex in Detroit, Michigan.  The   
Company also has announced plans to develop a hotel and casino resort in        
Atlantic City, New Jersey.                                                      

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.                                             

Dates Referenced Herein

This ‘SC 13E4/A’ Filing		Date		Other Filings
Filed on:		8/6/99		None on these Dates
		8/5/99
				List all Filings