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EXHIBIT 10.1

EXECUTION

FIFTH AMENDMENT AGREEMENT

        This Fifth Amendment Agreement dated as of February 28, 2002
("Amendment") is entered into with reference to (a) the Second Amended and
Restated Loan Agreement dated as of April 10, 2000 (the "Second Amended and
Restated Loan Agreement") and (b) the 364-Day Loan Agreement dated as of
April 6, 2001 (the "364-Day Loan Agreement" and, together with the Second
Amended and Restated Loan Agreement, the "Loan Agreements"), in each case among
MGM MIRAGE, a Delaware corporation (formerly known as MGM Grand, Inc. and
referred to herein as "Borrower"), MGM Grand Atlantic City, Inc., a New Jersey
corporation ("Atlantic City"), MGM Grand Detroit, LLC, a Delaware limited
liability company ("Detroit"), as Co-Borrowers, the Banks named therein, and
Bank of America, N.A., as Administrative Agent. The Second Amended and Restated
Loan Agreement has previously been amended by Amendment Agreements dated as of
September 6, 2000, December 21, 2000, April 6, 2001 and December 11, 2001; the
364-Day Loan Agreement has previously been amended by an Amendment Agreement
dated as of December 11, 2001. Borrower, Atlantic City, Detroit and the
Administrative Agent, acting on behalf of the Requisite Banks under each of the
Loan Agreements, hereby agree to amend each of the Loan Agreements as follows:

        1.    Definitions.    Capitalized terms used herein but not defined are
used with the meanings set forth for those terms in the Loan Agreements.

        2.    Restricted Subsidiary/Insurance Subsidiary.    Section 1.1 of each
of the Loan Agreements is hereby amended by adding thereto a new definition of
"Insurance Subsidiary" and by amending the definition of "Restricted Subsidiary"
to read in full as follows (with the added text to the definition of Restricted
Subsidiary shown as double underscored bold for the convenience of the reader):

        "Insurance Subsidiary" means MGMM Insurance Company, a Nevada
corporation, which is a captive insurance company approved by the Vermont
Department of Banking, Insurance, Securities and Health Care Administration
engaging solely in the business of facilitating insurance coverage for Borrower,
Co-Borrowers or the Subsidiaries.

        "Restricted Subsidiary" means each Subsidiary of Borrower other than
(a) the Australia Companies, Detroit Temporary, Monorail, Subsidiaries formed
under the Laws of foreign nations whose only tangible assets are located in
foreign nations, and pure holding companies for such foreign Subsidiaries
(including without limitation MGM Grand South Africa, Inc., a Nevada
corporation) owning as their sole asset the stock or other securities and
obligations thereof, (b) each Midwest Gaming Subsidiary which is designated in
writing by Borrower to the Administrative Agent as an Unrestricted Subsidiary
substantially contemporaneously with its formation or acquisition, provided that
no such designation may be made when any Default or Event of Default exists, and
(c) the Insurance Subsidiary. As of the Closing Date, Victoria Partners, a
Nevada general partnership, is 50% owned by Borrower, and is therefore not a
Subsidiary of Borrower. It is also understood that Marina District Development
Holding Co., LLC, a New Jersey limited liability company, the 100% owner of
Marina District Development Company, LLC, a New Jersey limited liability company
doing business as "The Borgata," is also only 50% owned by Borrower and
therefore is not a Subsidiary of Borrower.

        3.    New Section 6.11—Investments in Insurance Subsidiary.    Each of
the Loan Agreements is hereby amended to add a new Section 6.11 thereto, to read
in full as follows:

        "6.11 Investments in Insurance Subsidiary. Make Investments in the
Insurance Subsidiary in an amount exceeding $10,000,000 in the aggregate."

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        4.    Conditions Precedent.    The effectiveness of this Amendment shall
be conditioned upon the receipt by the Administrative Agent of written consents
to the execution, delivery and performance hereof from the Requisite Banks under
each of the Loan Agreements referred to above.

        5.    Representation and Warranty.    Borrower and each of the
Co-Borrowers represents and warrants to the Administrative Agent and the Banks
that no Default or Event of Default has occurred and remains continuing, and
that each of the representations and warranties of Borrower set forth in the
Loan Agreements is true and correct as of the date hereof (other than those
which relate by their terms solely to another date).

      

[Remainder of this page intentionally left blank—Signature pages to follow]

      

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        6.    Confirmation.    In all other respects, the terms of each Loan
Agreement and the other Loan Documents are hereby confirmed.

        IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
duly executed as of the date first above written.

    MGM MIRAGE
MGM GRAND ATLANTIC CITY, INC.
and
MGM GRAND DETROIT, LLC       By: MGM Grand Detroit, Inc., managing member
 
 
By:
/s/  BRYAN WRIGHT      

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Bryan Wright,
Assistant Secretary of each of the foregoing other than MGM MIRAGE and Vice
President—Assistant General Counsel and Assistant Secretary of MGM MIRAGE
 
             
 
 
BANK OF AMERICA, N.A., as Administrative Agent
 
 
By:
/s/  JANICE HAMMOND      

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Janice Hammond,
Vice President
 
             

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CONSENT OF BANK

        This Consent of Bank is delivered with reference to the Second Amended
and Restated Loan Agreement dated as of April 6, 2000 (the "Second Amended and
Restated Loan Agreement") and the 364-Day Loan Agreement dated as of April 10,
2001 (the "364-Day Loan Agreement" and, together with the Second Amended and
Restated Loan Agreement, the "Loan Agreements"), in each case among MGM MIRAGE,
a Delaware corporation (formerly known as MGM Grand, Inc.), MGM Grand Atlantic
City, Inc., a New Jersey corporation, and MGM Grand Detroit, LLC, a Delaware
limited liability company, as Co-Borrowers, the Banks named therein, and Bank of
America, N.A., as Administrative Agent. The Second Amended and Restated Loan
Agreement has previously been amended by Amendment Agreements dated as of
September 6, 2000, December 21, 2000, April 6, 2001 and December 11, 2001; the
364-Day Loan Agreement has previously been amended by an Amendment Agreement
dated as of December 11, 2001.

        The undersigned Bank hereby consents to the execution, delivery and
performance of the proposed Fifth Amendment Agreement in respect of each of the
Loan Agreements to which it is a party by the Administrative Agent on behalf of
the Banks, substantially in the form presented to the undersigned as drafts.

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[Typed/Printed Name of Bank]            
By:
 
 
   

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Title:
 
 
   

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Date:
 
 
   

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FIFTH AMENDMENT AGREEMENT