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MGM Grand changes name

Friday, June 23, 2000 | 3:56 a.m.

MGM Grand Inc. intends to change its name to "MGM MIRAGE," the company announced today.

Las Vegas-based MGM Grand revealed the proposed name change to MGM MIRAGE in its annual proxy statement, filed today with the Securities and Exchange Commission. Shareholders will be asked to vote on the name change at MGM Grand's annual shareholder meeting, to be held Aug. 1 at 10 a.m. at the MGM Grand.

"This new name takes full advantage of the two most powerful brands in the gaming and entertainment industry," MGM Grand Chairman Terry Lanni said in a statement.

MGM Grand acquired Mirage Resorts Inc. on May 31 for $6.4 billion.

Majority shareholder Tracinda Corp., controlled by Kirk Kerkorian, will vote in favor of the proposed name change. "Therefore ... approval of the amendment is assured," the proxy states.

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