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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3235-0287

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January 31, 2005

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(Print or Type Responses)

1. Name and Address of Reporting Person ^*

LANNI J TERRENCE

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
__X__ Officer (give title below)	_____ Other (specify below)
CHAIRMAN & CEO

(Last)

(First)

(Middle)

3600 LAS VEGAS BLVD. SOUTH

3. Date of Earliest Transaction (Month/Day/Year)
12/10/2007

(Street)

LAS VEGAS, NV 89109

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

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	12/10/2007	12/10/2007	S		800	D	$ 92.45	85,900 ⁽¹⁾	I	Lanni Family Trust
Common Stock $.01 Par Value ND	12/10/2007	12/10/2007	S		1,200	D	$ 92.46	84,700 ⁽¹⁾	I	Lanni Family Trust
Common Stock $.01 Par Value ND	12/10/2007	12/10/2007	S		8,000	D	$ 92.5	76,700 ⁽¹⁾	I	Lanni Family Trust
Common Stock $.01 Par Value ND	12/10/2007	12/10/2007	S		1,100	D	$ 92.51	75,600 ⁽¹⁾	I	Lanni Family Trust
Common Stock $.01 Par Value ND	12/10/2007	12/10/2007	S		600	D	$ 92.52	75,000 ⁽¹⁾	I	Lanni Family Trust
Common Stock $.01 Par Value ND	12/10/2007	12/10/2007	S		300	D	$ 92.525	74,700 ⁽¹⁾	I	Lanni Family Trust
Common Stock $.01 Par Value ND	12/10/2007	12/10/2007	S		600	D	$ 92.53	74,100 ⁽¹⁾	I	Lanni Family Trust
Common Stock $.01 Par Value ND	12/10/2007	12/10/2007	S		200	D	$ 92.54	73,900 ⁽¹⁾	I	Lanni Family Trust
Common Stock $.01 Par Value ND	12/10/2007	12/10/2007	S		4,236	D	$ 92.55	69,664 ⁽¹⁾	I	Lanni Family Trust
Common Stock $.01 Par Value ND	12/10/2007	12/10/2007	S		764	D	$ 92.5501	68,900 ⁽¹⁾	I	Lanni Family Trust
Common Stock $.01 Par Value ND	12/10/2007	12/10/2007	S		13,185	D	$ 92.6	55,715 ⁽¹⁾	I	Lanni Family Trust
Common Stock $.01 Par Value ND	12/10/2007	12/10/2007	S		900	D	$ 92.6001	54,815 ⁽¹⁾	I	Lanni Family Trust
Common Stock $.01 Par Value ND	12/10/2007	12/10/2007	S		5,700	D	$ 92.61	49,115 ⁽¹⁾	I	Lanni Family Trust
Common Stock $.01 Par Value ND	12/10/2007	12/10/2007	S		700	D	$ 92.62	48,415 ⁽¹⁾	I	Lanni Family Trust
Common Stock $.01 Par Value ND	12/10/2007	12/10/2007	S		800	D	$ 92.63	47,615 ⁽¹⁾	I	Lanni Family Trust
Common Stock $.01 Par Value ND	12/10/2007	12/10/2007	S		1,200	D	$ 92.64	46,415 ⁽¹⁾	I	Lanni Family Trust
Common Stock $.01 Par Value ND	12/10/2007	12/10/2007	S		3,700	D	$ 92.65	42,715 ⁽¹⁾	I	Lanni Family Trust
Common Stock $.01 Par Value ND	12/10/2007	12/10/2007	S		300	D	$ 92.66	42,415 ⁽¹⁾	I	Lanni Family Trust
Common Stock $.01 Par Value ND	12/10/2007	12/10/2007	S		400	D	$ 92.67	42,015 ⁽¹⁾	I	Lanni Family Trust
Common Stock $.01 Par Value ND	12/10/2007	12/10/2007	S		300	D	$ 92.69	41,715 ⁽¹⁾	I	Lanni Family Trust
Common Stock $.01 Par Value ND	12/10/2007	12/10/2007	S		2,915	D	$ 92.7	38,800 ⁽¹⁾	I	Lanni Family Trust
Common Stock $.01 Par Value ND	12/10/2007	12/10/2007	S		300	D	$ 92.71	38,500 ⁽¹⁾	I	Lanni Family Trust
Common Stock $.01 Par Value ND	12/10/2007	12/10/2007	S		1,600	D	$ 92.72	36,900 ⁽¹⁾	I	Lanni Family Trust
Common Stock $.01 Par Value ND	12/10/2007	12/10/2007	S		200	D	$ 92.73	36,700 ⁽¹⁾	I	Lanni Family Trust

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

Emp Stk Option (Right to Buy)

$ 12.74

02/27/2004

02/27/2013

Common Stock $.01 Par Value ND

460,000

460,000 ⁽²⁾

Emp Stk Option (Right to Buy)

$ 34.05

05/03/2006

05/03/2012

Common Stock $.01 Par Value ND

1,100,000

Emp Stk Option (Right to Buy)

$ 34.36

05/10/2006

05/10/2012

Common Stock $.01 Par Value ND

100,000

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
LANNI J TERRENCE 3600 LAS VEGAS BLVD. SOUTH LAS VEGAS, NV 89109	X		CHAIRMAN & CEO

Signatures

Bryan L. Wright, Attorney In Fact		12/12/2007
^**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)	These shares are held by the Lanni Family Trust, under agreement dated June 21, 1990, of which the reporting person is trustee.
(2)	Options granted under MGM MIRAGE Employee Stock Option Plan. Vesting plan calls for options to become exercisable in equal 20% yearly amounts over a period of five years commencing on 2/27/04.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

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