MGM Mirage terminates talks with NYRA, New York state

1 May 2007

LAS VEGAS, Nevada – (PRESS RELEASE) -- MGM Mirage (NYSE: MGM) today announced that it has formally withdrawn its proposal to develop and manage a video lottery terminal ("VLT") facility at the Aqueduct Racetrack and has terminated its negotiations with the New York Racing Association ("NYRA") and the State of New York.

"We have worked closely with NYRA and the State of New York for almost four years on this project. It has been fraught with obstacles, ranging from NYRA's legal difficulties, its Chapter 11 filing, uncertainties concerning the grant of the racing franchise upon the expiration of NYRA's current franchise at the end of 2007, disputes between NYRA and the State, as well as escalating costs for the project," said Terry Lanni, Chairman and Chief Executive Officer of MGM Mirage. "While we came close to reaching an agreement with the State and NYRA, certain unresolved issues have caused us to withdraw from this opportunity. We expended a lot of resources, time and effort on the project, and regret that it did not come to fruition."

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	MGM Mirage terminates talks with NYRA, New York state 1 May 2007 LAS VEGAS, Nevada – (PRESS RELEASE) -- MGM Mirage (NYSE: MGM) today announced that it has formally withdrawn its proposal to develop and manage a video lottery terminal ("VLT") facility at the Aqueduct Racetrack and has terminated its negotiations with the New York Racing Association ("NYRA") and the State of New York. "We have worked closely with NYRA and the State of New York for almost four years on this project. It has been fraught with obstacles, ranging from NYRA's legal difficulties, its Chapter 11 filing, uncertainties concerning the grant of the racing franchise upon the expiration of NYRA's current franchise at the end of 2007, disputes between NYRA and the State, as well as escalating costs for the project," said Terry Lanni, Chairman and Chief Executive Officer of MGM Mirage. "While we came close to reaching an agreement with the State and NYRA, certain unresolved issues have caused us to withdraw from this opportunity. We expended a lot of resources, time and effort on the project, and regret that it did not come to fruition."