EXHIBIT 99

                         [MGM GRAND, INC. LETTERHEAD]

                               February 23, 2000

Mr.Stephen A. Wynn
Chairman of the Board
President and Chief Executive Officer
Mirage Resorts, Incorporated
3600 Las Vegas Blvd.
Las Vegas, NV 89109

Dear Steve:

     On behalf of the Board of Directors of MGM Grand, Inc., our Company is
offering to acquire the stock of Mirage Resorts, Incorporated for $17 per
share.  Each of your shareholders can choose to receive the consideration either
all in cash, or a combination of $7 cash per share and MGM Grand, Inc. stock
valued at $10 per share based on today's closing price of $40 3/8. This offer
would provide your shareholders with more than a 56 percent premium over the
closing share price of $10 7/8 on February 22, 2000.

     It is our intention that the Board of Directors of the combined entity
would consist of all the current members of both Boards.

     In addition to providing your shareholders with an immediate significant
premium for their shares, we strongly believe that the revenue enhancement and
cost reduction opportunities arising out of this combination would create a
significant increase in the value of the stock of the combined company.  Beyond
the compelling economics, we believe that the combined entity would be the
undisputed leader in our industry by any measure.

     We want you to know that neither MGM Grand, Inc. nor its principal
shareholder currently own any shares of Mirage Resorts, Incorporated and that it
is our intention that this powerful combination be accomplished on a friendly
basis. Our offer, which is subject only to standard governmental and corporate
approvals and to the negotiation of a definitive agreement, will expire at 5:00
p.m. PST on March 8, 2000.

     We look forward to hearing from you.


                                  Sincerely,

                                  /s/ J. Terrence Lanni

                                  J. Terrence Lanni
                                  Chairman of the Board