Press Release: MGM MIRAGE
October 5, 2001
LAS VEGAS, NV -- MGM MIRAGE (NYSE: MGG) Chairman Terry Lanni yesterday announced that Daniel Wade, the company's
Vice Chairman, will be stepping down from his day-to-day responsibilities at the end of October. He will remain
a member of the Board as well as its Vice Chairman. In this capacity, Mr. Wade will remain active in the company's
diversity initiative, which he has overseen throughout its development and implementation since May 2000.
``I first discussed with Terry the possibility of changing my role with our company at the time of the merger with
Mirage Resorts in May of 2000,'' said Mr. Wade. ``To that point, I had spent 10 wonderful years with the company.
At the time, there was much to do to ensure a smooth transition and when Terry asked that I stay to assist in that
process, I agreed. Now, after 11 and one-half years, I'm looking forward to remaining an active member of the Board
while I spend time enjoying other aspects of my life,'' added Mr. Wade.
``I have great admiration for Danny,'' said Terry Lanni, Chairman and CEO of MGM MIRAGE. ``Danny has been an instrumental
part of our success, and I'm pleased that he has agreed to remain Vice Chairman of our Board of Directors.''
Mr. Wade began his career with MGM MIRAGE in January 1990 when he was appointed as President of the MGM Marina
Hotel. He later became the first employee at the MGM Grand Hotel where he was named Senior Vice President with
responsibilities for Human Resources, the Theme Park and Player Development. In 1995, Mr. Wade was named President
and COO of the MGM Grand Hotel.
In 1998, MGM Grand, Inc., the parent company of the MGM Grand Hotel, initiated an expansion strategy that would
see it acquire the Primadonna Resorts, Inc. as well as develop a casino in Detroit, Michigan. During this time,
Mr. Wade served as Executive Vice President of the parent company. In 1999, he was named Co-CEO of MGM Grand, Inc.
serving alongside John Redmond. Mr. Wade was appointed Vice Chairman of MGM MIRAGE in March 2001.
MGM MIRAGE is an entertainment, hotel and gaming company headquartered in Las Vegas, Nevada, which owns and/or
operates through subsidiaries 18 casino properties on three continents. Its U.S. holdings include: Bellagio, the
MGM Grand Hotel and Casino -- The City of Entertainment, The Mirage, Treasure Island, New York -- New York Hotel
and Casino, the Boardwalk Hotel and Casino and 50% of Monte Carlo, all located on the Las Vegas Strip; the Golden
Nugget in Downtown Las Vegas; Whiskey Pete's, Buffalo Bill's, the Primm Valley Resort and two championship golf
courses at the California/Nevada state line; the exclusive Shadow Creek golf course in North Las Vegas; the Golden
Nugget in Laughlin, Nevada; the Beau Rivage resort on the Mississippi Gulf Coast; and the MGM Grand Detroit Casino
in Detroit, Michigan. The Company is a joint venture partner on Borgata at Renaissance Pointe, a resort under development
in Atlantic City, New Jersey and also controls several development sites in the oceanfront resort community. Internationally,
MGM MIRAGE owns and operates the MGM Grand Hotel and Casino in Darwin, Australia and manages casinos in Nelspruit,
Witbank and Johannesburg, Republic of South Africa.
For more information on MGM MIRAGE and its operating subsidiaries, visit our website at 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.
SOURCE: MGM MIRAGE