<PAGE>
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OMB APPROVAL
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OMB NUMBER: 3235-01-45
EXPIRES: AUGUST 31, 1991
ESTIMATED AVERAGE BURDEN
HOURS PER RESPONSE..14.29
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 7 )*
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MGM Grand, Inc.
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(Name of Issuer)
Common Stock, $.01 par value
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(Title of Class of Securities)
552953101
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(CUSIP Number)
Richard E. Sobelle, Esq. (702) 737-8060
Tracinda Corporation
4835 Koval Lane, Las Vegas, NV 89109
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
September 25, 1997
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(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box [_].
Check the following box if a fee is being paid with the statement [_]. (A fee is
not required only if the reporting person: (1) has a previous statement on file
reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7).
Note: Six copies of this statement, including all exhibits, should be filed with
the Commission. See Rule 13d-1(a) for other parties to whom copies are to be
sent.
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
<PAGE>
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CUSIP NO. 13D PAGE _ OF _ PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Kirk Kerkorian
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
SOURCE OF FUNDS
4
BK
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(D) OR 2(E) [ ]
5
- ------------------------------------------------------------------------------
CITENZENSHIP OR PLACE OF ORGANIZATION
6
USA
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SOLE VOTING POWER
7
NUMBER OF 36,239,822
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING 36,239,822
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
36,239,822
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
62.5%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
IN
- ------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
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CUSIP NO. 13D PAGE _ OF _ PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Tracinda Corporation
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [_]
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SEC USE ONLY
3
- ------------------------------------------------------------------------------
SOURCE OF FUNDS
4
BK
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(D) OR 2(E) [ ]
5
- ------------------------------------------------------------------------------
CITENZENSHIP OR PLACE OF ORGANIZATION
6
Nevada
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SOLE VOTING POWER
7
NUMBER OF 32,345,416
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING 32,345,416
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
32,345,416
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
55.7%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
CO
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*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
This Amendment No. 7 amends and supplements the Statement on Schedule 13D (as
previously amended, the "Schedule 13D"), relating to the common stock par value
$.01 per share (the "Shares"), of MGM Grand, Inc., a Delaware corporation (the
"Company"), previously filed by Mr. Kerkorian and Tracinda Corporation
("Tracinda"). Terms used and not defined in this Amendment have the meaning set
forth in the Schedule 13D.
1. Item 3, "Source and Amount of Funds or Other Consideration"; Item
4, "Purpose of Transaction"; Item 5, "Interest in Securities of
the Issuer" and Item 6, "Contracts, Arrangements, Understandings
or Relationships with Respect to Securities of the Issuer" of the
Schedule 13D are hereby amended to add the following information:
On September 25, 1997, Tracinda purchased in a private
transaction 618,557 Shares of the Company pursuant to a Letter
Agreement dated September 25, 1997 between Tracinda and the
Trustee of that certain Trust Agreement dated as of October 23,
1996 by and between Don King Productions, Inc., a New York
corporation, Mike Tyson, John Horne, Rory Holloway, MGM Grand,
Inc., MGM Grand Hotel, Inc. and Lionel Sawyer & Collins, Ltd., a
professional corporation, as Trustee. A copy of said Letter
Agreement is attached hereto as Exhibit A and incorporated herein
by reference.
Tracinda acquired said shares for $44.50 per share for an
aggregate purchase price of $27,525,786.50. Such purchase price
was funded by borrowings under a bank Credit Agreement, a copy of
which has been previously filed as an exhibit to this Schedule
13D.
As a result of said purchase, Kirk Kerkorian and Tracinda
beneficially own an aggregate of 36,239,822 shares or
approximately 62.5% of the outstanding shares, as to which they
have sole voting and dispositive power.
2. Except as specifically provided herein, this amendment does not
modify any of the information previously reported on the Schedule
13D.
3. Item 7, Material to be Filed as Exhibits.
a. Letter Agreement dated September 25, 1997
SIGNATURE
- ---------
After a reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
TRACINDA CORPORATION
BY: /s/ Anthony Mandekic
---------------------------
Anthony Mandekic
Secretary/Treasurer
Dated: September 25, 1997
<PAGE>
EXHIBIT 99.1
Exhibit A
[LETTERHEAD OF TRACINDA CORPORATION]
September 25, 1997
Lionel Sawyer & Collins, Ltd., as Trustee
300 South Fourth Street
Las Vegas, Nevada 89101
Attention: Paul R. Hejmanowski, Esq.
Re: Common stock of MGM Grand, Inc.
Gentlemen:
Reference is hereby made to that certain Trust Agreement dated as of October 23,
1996 by and between, among others, Don King Productions, Inc., a New York
corporation and Lionel Sawyer & Collins, Ltd., a professional corporation, as
Trustee ("the Trustee").
The undersigned, Tracinda Corporation, a Nevada corporation ("Purchaser") hereby
offers to purchase (the "Offer") from the above described Trust, six hundred and
eighteen thousand five hundred and fifty-seven (618,557) shares of the
outstanding common stock of MGM Grand, Inc., a Delaware corporation (the
"Shares") at the purchase price of Forty-four Dollars and Fifty cents ($44.50)
per share for an aggregate consideration of Twenty-seven Million, Five Hundred
Twenty-five Thousand, Seven Hundred Eighty-six Dollars and Fifty cents
($27,525,786.50) (the "Purchase Price") pursuant to the following terms and
conditions:
1. Payment of Purchase Price: The Purchase Price will be paid by wire
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transfer of funds to an account specified in writing by Trustee within
three (3) business days of acceptance of this offer;
2. Delivery of Shares: Concurrently with the payment of the Purchase Price,
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Trustee shall deliver to Purchaser at Trustee's above address, stock
certificates evidencing the shares together with duly endorsed stock
powers in favor of Purchaser;
3. Good Title: Upon acceptance of this offer, Trustee on behalf of the
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Trust only, warrants that the delivery of the shares as provided herein,
shall transfer to Purchaser, valid title thereto, free and clear of any
lien, charge, claim, right of any third party, adverse claim or any
encumbrance of any nature whatsoever;
<PAGE>
4. Acceptance of Offer: This offer must be accepted by Trustee, in
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writing and delivered to Purchaser at its principal office at 4835
Koval Lane, Las Vegas, Nevada 89109, Attention: Anthony Mandekic,
Secretary/Treasurer no later than 5:00 pm PST on September 26,
1997.
Sincerely,
TRACINDA CORPORATION
By /s/ Richard E. Sobelle
----------------------
Richard E. Sobelle
Acceptance:
- ----------
The above offer is hereby accepted:
LIONEL SAWYER & COLLINS, LTD.,
a professional corporation, as Trustee
By /s/ Paul R. Hejmanowski
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Date: September 25, 1997
