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)
Code V Amount (A) or (D) Price
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 V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Options (Right to buy) $ 17 04/27/2005 04/27/2005 M     2,000 05/05/1999 05/05/2008 Common Stock $.01 Par Value ND 2,000 $ 0 0 (1) D  
Stock Options (Right to buy) $ 17.6875 04/27/2005 04/27/2005 M     10,000 02/28/1998 02/28/2007 Common Stock $.01 Par Value ND 10,000 $ 0 0 (1) D  
Stock Options (Right to buy) $ 28.5 04/27/2005 04/27/2005 M     1,250 05/13/2004 05/13/2013 Common Stock $.01 Par Value ND 1,250 $ 0 3,750 (2) D  
Stock Options (Right to buy) $ 34.15 04/27/2005 04/27/2005 M     1,800 05/04/2000 05/04/2009 Common Stock $.01 Par Value ND 1,800 $ 0 0 (3) D  
Stock Options (Right to buy) $ 34.15 04/27/2005 04/27/2005 M     3,375 08/01/2001 08/01/2010 Common Stock $.01 Par Value ND 3,375 $ 0 1,125 (3) D  
Stock Options (Right to buy) $ 34.15 04/27/2005 04/27/2005 M     4,500 05/01/2002 05/01/2011 Common Stock $.01 Par Value ND 4,500 $ 0 0 (3) D  
Stock Options (Right to buy) $ 40.22 04/27/2005 04/27/2005 M     2,500 05/07/2003 05/07/2012 Common Stock $.01 Par Value ND 2,500 $ 0 2,500 (2) D  

Reporting Owners

Reporting Owner Name / Address Relationships
 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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