Name change becomes official

Wednesday, Aug. 2, 2000 | 11:06 a.m.

MGM Grand Inc. formally changed its name to MGM MIRAGE Tuesday, following approval by the company's shareholders.

The name change was first proposed in June, following MGM Grand's $6.4 billion acquisition of Mirage Resorts Inc. Company officials said the name would better reflect the portfolio of brands and assets held by the Las Vegas gaming concern. The stock ticker symbol remains "MGG."

Shareholders also elected five former Mirage directors to MGM MIRAGE's board of directors: Bobby Baldwin, chief executive of Mirage Resorts; George Mason, senior managing director from Bear Stearns; Ron Popeil, president of television marketing company RONCO Inc.; Daniel Wayson, developer and former head of Mirage's New Jersey operations; and Melvin Wolzinger, Las Vegas developer and restaurant and casino operator. Gary Jacobs, recently hired as MGM MIRAGE's general counsel, was also elected to the board, which was expanded to 20 directors.

Approval of the company's name change and election of the directors had already been assured prior to Tuesday's shareholder meeting, since controlling shareholder Kirk Kerkorian had already announced his intent to vote for the proposals.