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

OMB APPROVAL OMB Number: 3235-0287 Expires: January 31, 2005 Estimated average burden hours per response... 0.5

(Print or Type Responses)

1. Name and Address of Reporting Person * JACOBS GARY N   2. Issuer Name and Ticker or Trading Symbol MGM MIRAGE [MGG] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) EVP, General Counsel & Secreta (Last) (First) (Middle) 3600 LAS VEGAS BLVD. SOUTH 3. Date of Earliest Transaction (Month/Day/Year) 10/25/2004 (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) Code V Amount (A) or (D) Price Common Stock $.01 Par Value ND 10/25/2004 10/25/2004 M   25,000 A $ 33.3125 57,423 (1) D   Common Stock $.01 Par Value ND 10/25/2004 10/25/2004 S   2,400 D $ 52.68 55,023 (1) D   Common Stock $.01 Par Value ND 10/25/2004 10/25/2004 S   100 D $ 52.71 54,923 (1) D   Common Stock $.01 Par Value ND 10/25/2004 10/25/2004 S   5,000 D $ 52 49,923 (1) D   Common Stock $.01 Par Value ND 10/25/2004 10/25/2004 S   4,900 D $ 52 45,023 (1) D   Common Stock $.01 Par Value ND 10/25/2004 10/25/2004 S   100 D $ 52.01 44,923 (1) D   Common Stock $.01 Par Value ND 10/25/2004 10/25/2004 S   2,100 D $ 51.77 42,823 (1) D   Common Stock $.01 Par Value ND 10/25/2004 10/25/2004 S   400 D $ 51.82 42,423 (1) D   Common Stock $.01 Par Value ND 10/25/2004 10/25/2004 S   2,500 D $ 52.04 39,923 (1) D   Common Stock $.01 Par Value ND 10/25/2004 10/25/2004 S   1,800 D $ 52.12 38,123 (1) D   Common Stock $.01 Par Value ND 10/25/2004 10/25/2004 S   600 D $ 52.13 37,523 (1) D   Common Stock $.01 Par Value ND 10/25/2004 10/25/2004 S   100 D $ 52.14 37,423 (1) D   Common Stock $.01 Par Value ND 10/25/2004 10/25/2004 S   2,300 D $ 52 35,123 (1) D   Common Stock $.01 Par Value ND 10/25/2004 10/25/2004 S   200 D $ 52.02 34,923 (1) D   Common Stock $.01 Par Value ND 10/25/2004 10/25/2004 S   2,200 D $ 52.55 32,723 (1) D   Common Stock $.01 Par Value ND 10/25/2004 10/25/2004 S   300 D $ 52.58 32,423 (1) D

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
	Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.		SEC 1474 (9-02)

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

Emp Stk Option (Right to Buy)

$ 33.3125

10/25/2004

10/25/2004

M

25,000

06/01/2001

06/01/2010

Common Stock $.01 Par Value ND

25,000

$ 0

450,000 (2)

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
JACOBS GARY N 3600 LAS VEGAS BLVD. SOUTH LAS VEGAS, NV 89109	X		EVP, General Counsel & Secreta

Signatures

Bryan L. Wright, Attorney-In-Fact		10/25/2004
**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)	25,000 of the shares under this grant are subject to certain restrictions contained in a Restricted Stock Agreement dated as of June 3, 2002 between MGM MIRAGE and the issuee of the shares. The issuee is eligible for 50% of the shares upon completion of three years of employment with the company from the date of the Agreement and is eligible for 100% of the shares upon completion of four years of employment with the company from the date of the Agreement.
(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.

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

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.