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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. 8)*
MGM GRAND, INC.
________________________________________________________________________________
(Name of Issuer)
COMMON STOCK, PAR VALUE $.01 PER SHARE
________________________________________________________________________________
(Title of Class of Securities)
552953101
_______________________________________________________________
(CUSIP Number)
Richard E. Sobelle, Esq.
Tracinda Corporation
150 Rodeo Drive, Suite 250
Beverly Hills, California 90212
(310) 271-0638
________________________________________________________________________________
(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
August 3, 1998
_______________________________________________________________
(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 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 [_].
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).
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SCHEDULE 13D
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CUSIP NO. 552953101 PAGE 2 OF 5 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Kirk Kerkorian
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
SOURCE OF FUNDS
4
N/A
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
USA
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF 36,239,822 shares
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
-0- shares
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING 36,239,822 shares
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
10
-0- shares
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
36,239,822 shares
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
69.7%**
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
IN
- ------------------------------------------------------------------------------
** After giving effect to the Company's tender offer which expired on July 31,
1998.
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SCHEDULE 13D
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CUSIP NO. 552953101 PAGE 3 OF 5 PAGES
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- ------------------------------------------------------------------------------
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) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
SOURCE OF FUNDS
4
N/A
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Nevada
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF 32,345,416 shares
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
-0- shares
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING 32,345,416 shares
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
10
-0- shares
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
32,345,416 shares
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
62.2%**
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
CO
- ------------------------------------------------------------------------------
** After giving effect to the Company's tender offer which expired on July 31,
1998.
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This Amendment No. 8 amends and supplements the Statement on Schedule 13D
(as previously amended, the "Schedule 13D"), relating to the common stock, $.01
par value per share (the "Common Stock"), of MGM Grand, Inc., a Delaware
corporation (the "Company"), previously filed by Mr. Kerkorian and Tracinda
Corporation, a Nevada corporation ("Tracinda"). Terms used herein and not
defined in this Amendment have the meaning set forth in the Schedule 13D.
1. Item 2 "Identity and Background" of the Schedule 13D is hereby amended
to change the address of Tracinda's executive offices as follows:
150 Rodeo Drive, Suite 250
Beverly Hills, California 90212
2. Item 4 "Purpose of Transaction" and Item 5 "Interest in Securities of
the Issuer" of the Schedule 13D are hereby amended to add the following
information:
Pursuant to a tender offer by the Company, which expired on July 31,
1998, the Company is acquiring 6,000,000 shares of its Common Stock. As a
result of such tender offer, the aggregate percentage of Common Stock held
by Mr. Kerkorian and Tracinda will increase from approximately 62.5% of the
outstanding shares to approximately 69.7% and the percentage ownership of
Tracinda will increase to approximately 62.2%. Depending upon market
conditions and subject to compliance with all applicable laws, Tracinda may
seek to increase its ownership of Common Stock through purchases in the
open market, in private transactions, through tender offers or otherwise.
Tracinda and Mr. Kerkorian do not intend to engage in any transactions
which would result in the Company's Common Stock being held of record by
less than 300 persons or not being listed on the New York Stock Exchange.
3. Except as specifically provided herein, this amendment does not modify
any of the information previously reported on the Schedule 13D.
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SIGNATURES
After 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
Date: August 3, 1998 By: /s/ ANTHONY L. MANDEKIC
-----------------------
Anthony L. Mandekic
Secretary/Treasurer
