wide array of community needs. From homeless shelters to
after-school programs, MGM MIRAGE employees have
generously donated more than $8 million since 2001.
Your company also sets aside a portion of its profits
each year to be given to important programs intended to
build stronger communities. Since 2001, your company has
given more than $18 million to support such programs. 
Defining Momentum in Our Family
Our momentum is driven from within by acknowledging
the contributions of each and every one of our employees,
business partners and customers. Our commitment to
diversity is recognition of the fact that in today’s ever-
changing marketplace, we must reflect that which we see 
in the world around us. 
This commitment should be seen as a common-
sense business decision. That said, we are proud of 
the recognition our Diversity program has received,
including accolades from prestigious media such as 
Fortuneand DiversityInc. magazines.
Since formalizing our program only four years ago,
we’ve made enormous strides. There is still progress to
be made and your company has the momentum to
remain at the forefront on diversity initiatives, provid-
ing yet another advantage for sustaining performance in
the long term.
Defining Momentum in the Future
Your company achieved many business goals in 2004
and set in motion plans for future growth. These initiatives
will provide unmatched returns. We have also created unri-
valed opportunities for our employees and will continue
our rich history of strengthening the communities in which
we do business. 
As exciting as 2004 was, our momentum will carry us
to even greater achievements in 2005 and beyond.
J. TERRENCE LANNI
Chairman of the Board & Chief Executive Officer
March 31, 2005
SENSI BELLAGIO An
eclectic menu features
diverse cuisines in an
earthy arena replete with
waterfalls and chrome. A
bold wine list complements
Chef Martin Heierling’s
sumptuous work. 
JEAN-PHILIPPE PATISSERIE
BELLAGIOA mesmerizing 
fountain of cascading liquid
chocolate showcases a splen-
did selection of chocolates,
cakes, crêpes, salads and
sandwiches.
ISLA TI Designed by
Jeffrey Beers, Isla bright-
ens all the senses. Chef
Richard Sandoval gives
an innovative and modern
interpretation of traditional
Mexican cuisine.
(from left to right) KENNETH ROSEVEAR President, MGM MIRAGE Development;JOHN T. REDMONDPresident & CEO, MGM Grand Resorts, LLC;
J. TERRENCE LANNIChairman & CEO, MGM MIRAGE;ROBERT H. BALDWINPresident & CEO, Mirage Resorts, Incorporated & President, Project CityCenter;
GARY N. JACOBSExecutive Vice President, General Counsel & Secretary, MGM MIRAGE;JAMES J. MURRENPresident, CFO & Treasurer, MGM MIRAGE
05