Document:

<PAGE>

                                                                 EXHIBIT 4(14)

                          SECOND SUPPLEMENTAL INDENTURE

                          Dated as of October 10, 2000

                                     Between

                          MIRAGE RESORTS, INCORPORATED,

                                    AS ISSUER

                                       and

                    FIRST SECURITY BANK, NATIONAL ASSOCIATION

                                   AS TRUSTEE

                     To Indenture Dated as of August 1, 1997

                         6.75% Notes Due August 1, 2007
                       7.25% Debentures Due August 1, 2017

<PAGE>

     SECOND SUPPLEMENTAL INDENTURE, dated as of October 10, 2000 (the
"Supplemental Indenture"), between Mirage Resorts, Incorporated, a Nevada
corporation (the "Company"), and First Security Bank, National Association (the
"Trustee").

     WHEREAS, the Company has executed and delivered the Indenture dated as of
August 1, 1997, as supplemented by a Supplemental Indenture dated as of August
1, 1997 (as so supplemented, the "Indenture"), to the Trustee to provide for the
issuance of $200,000,000 Principal Amount of the Company's 6.75% Notes Due
August 1, 2007 and $100,000,000 Principal Amount of the Company's 7.25%
Debentures Due August 1, 2017;

     WHEREAS, the Holders of a majority in Principal Amount of such Notes and
Debentures have each approved an amendment proposed by the Company to Section
4.02 of the Indenture, and the Company desires to supplement and amend the
Indenture accordingly as contemplated by Section 9.02 thereof; and

     WHEREAS, all things necessary to make this Supplemental Indenture a valid
agreement of the Company and the Trustee in accordance with its terms, and a
valid amendment and supplement to the Indenture, have been done.

     NOW, THEREFORE, for and in consideration of the premises and mutual
covenants herein contained, the Company and the Trustee agree as follows:

                                   ARTICLE ONE
             DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION

     Unless the context otherwise requires:

     (a)  capitalized terms used herein that are not otherwise defined herein
shall have the meaning assigned to such terms in the Indenture;

     (b)  the singular includes the plural and vice versa; and

     (c)  headings are for convenience of reference only and do not affect
interpretation.

                                   ARTICLE TWO
                           AMENDMENT TO THE INDENTURE

     The Indenture is hereby amended by deleting the second paragraph of Section
4.02 in its entirety and replacing it with the following:

     "If the Company is not subject to, or for any reason is not complying with,
     the requirements of Section 13 or 15(d) of the Exchange Act, the

<PAGE>

     Company shall make available to all of the Holders all quarterly and annual
     reports which the Company would have been required to file with the SEC if
     it were subject to the requirements of Section 13 or 15(d) of the Exchange
     Act, including a "Management's Discussion and Analysis of Financial
     Condition and Results of Operations," and with respect to annual financial
     statements only, a report thereon by the Company's independent accountants.
     Notwithstanding the immediately preceding sentence, if (i) the Company is a
     subsidiary of a corporation or other person ("Parent") which is subject to
     and is complying with the requirements of Section 13 or 15(d) of the
     Exchange Act, and (ii) Parent has guaranteed the payment of the Principal
     of and interest on the Securities in accordance with their terms, then in
     lieu of complying with the foregoing the Company shall make available to
     all of the Holders, upon written request, copies of the annual reports and
     of the information, documents and other reports (or copies of such portions
     of any of the foregoing as the SEC may by rules and regulations prescribe)
     which Parent is required to file with the SEC pursuant to Section 13 or
     15(d) of the Exchange Act."

                                  ARTICLE THREE
                                  MISCELLANEOUS

     3.1. NOTIFICATION TO HOLDERS.

     The Company shall notify the Holders in accordance with Section 9.02 of the
Indenture of the execution of this Supplemental Indenture.

     3.2. RATIFICATION OF INDENTURE.

     The Indenture, as supplemented by this Supplemental Indenture, is in all
respects ratified and confirmed, and this Supplemental Indenture shall be deemed
part of the Indenture in the manner and to the extent herein and therein
provided.

     3.3. GOVERNING LAW.

     This Supplemental Indenture shall be deemed to be a contract made under the
internal laws of the State of Nevada, and for all purposes shall be construed in
accordance with the laws of said State.

     3.4. SEVERABILITY.

     In case any one or more of the provisions contained in this Supplemental
Indenture shall for any reason be held to be invalid, illegal or unenforceable
in any respect, such invalidity, illegality or unenforceability shall not

                                        2

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affect any other provision of this Supplemental Indenture, but this Supplemental
Indenture shall be construed as if such invalid, illegal or unenforceable
provision had never been contained herein.

     3.5. COUNTERPARTS.

     This Supplemental Indenture may be executed in any number of counterparts,
each of which shall be an original; but such counterparts shall together
constitute but one and the same instrument.

     3.6. EFFECTIVENESS.

     This Supplemental Indenture shall be effective and binding when executed by
the Company and the Trustee.

     3.7. TRUSTEE NOT RESPONSIBLE FOR RECITALS.

     The recitals herein contained are made by the Company and not by the
Trustee, and the Trustee assumes no responsibility for the correctness thereof.
The Trustee makes no representation as to the validity or sufficiency of this
Supplemental Indenture.

     3.8. PERFORMANCE BY TRUSTEE.

     The Trustee, for itself and its successors, accepts the trust of the
Indenture as amended by this Supplemental Indenture and agrees to perform the
same, but only upon the terms and conditions set forth in the Indenture,
including the terms and provisions defining and limiting the liability and
responsibility of the Trustee.

                                        3

<PAGE>

     IN WITNESS WHEREOF, the Company and the Trustee have caused this Second
Supplemental Indenture to be duly executed as of the day and year first above
written.

                                       MIRAGE RESORTS, INCORPORATED

                                       By:   ROBERT H. BALDWIN
                                           ------------------------------------
                                           Name:   Robert H. Baldwin
                                           Title:  President and Chief
                                                     Executive Officer

                                       By:   SCOTT LANGSNER
                                           ------------------------------------
                                           Name:   Scott Langsner
                                           Title:  Secretary and Treasurer

                                       FIRST SECURITY BANK, NATIONAL
                                         ASSOCIATION
                                         as Trustee

                                       By:   MEGAN CHARLESWORTH
                                           ------------------------------------
                                           Name:   Megan Charlesworth
                                           Title:  Assistant Trust Officer

                                        4<PAGE>

                                                                 EXHIBIT 4(15)

                          SECOND SUPPLEMENTAL INDENTURE

                          Dated as of October 10, 2000

                                     Between

                          MIRAGE RESORTS, INCORPORATED,

                                    AS ISSUER

                                       and

                            THE CHASE MANHATTAN BANK

                                   AS TRUSTEE

                    To Indenture Dated as of February 4, 1998

                        6.625% Notes Due February 1, 2005
                        6.75% Notes Due February 1, 2008

<PAGE>

     SECOND SUPPLEMENTAL INDENTURE, dated as of October 10, 2000 (the
"Supplemental Indenture"), between Mirage Resorts, Incorporated, a Nevada
corporation (the "Company"), and The Chase Manhattan Bank, as successor trustee
to PNC Bank, National Association (the "Trustee").

     WHEREAS, the Company has executed and delivered the Indenture dated as of
February 4, 1998, as supplemented by a Supplemental Indenture dated as of
February 4, 1998 (as so supplemented, the "Indenture"), to the Trustee to
provide for the issuance of $200,000,000 Principal Amount of the Company's
6.625% Notes Due February 1, 2005 and $200,000,000 Principal Amount of the
Company's 6.75% Notes Due February 1, 2008;

     WHEREAS, the Holders of a majority in Principal Amount of such 2005 Notes
and 2008 Notes have each approved an amendment proposed by the Company to
Section 4.02 of the Indenture, and the Company desires to supplement and amend
the Indenture accordingly as contemplated by Section 9.02 thereof; and

     WHEREAS, all things necessary to make this Supplemental Indenture a valid
agreement of the Company and the Trustee in accordance with its terms, and a
valid amendment and supplement to the Indenture, have been done.

     NOW, THEREFORE, for and in consideration of the premises and mutual
covenants herein contained, the Company and the Trustee agree as follows:

                                   ARTICLE ONE
             DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION

     Unless the context otherwise requires:

     (a)  capitalized terms used herein that are not otherwise defined herein
shall have the meaning assigned to such terms in the Indenture;

     (b)  the singular includes the plural and vice versa; and

     (c)  headings are for convenience of reference only and do not affect
interpretation.

                                   ARTICLE TWO
                           AMENDMENT TO THE INDENTURE

     The Indenture is hereby amended by deleting the second paragraph of Section
4.02 in its entirety and replacing it with the following:

     "If the Company is not subject to, or for any reason is not complying with,
     the requirements of Section 13 or 15(d) of the Exchange Act, the

<PAGE>

     Company shall make available to all of the Holders all quarterly and annual
     reports which the Company would have been required to file with the SEC if
     it were subject to the requirements of Section 13 or 15(d) of the Exchange
     Act, including a "Management's Discussion and Analysis of Financial
     Condition and Results of Operations," and with respect to annual financial
     statements only, a report thereon by the Company's independent accountants.
     Notwithstanding the immediately preceding sentence, if (i) the Company is a
     subsidiary of a corporation or other person ("Parent") which is subject to
     and is complying with the requirements of Section 13 or 15(d) of the
     Exchange Act, and (ii) Parent has guaranteed the payment of the Principal
     of and interest on the Securities in accordance with their terms, then in
     lieu of complying with the foregoing the Company shall make available to
     all of the Holders, upon written request, copies of the annual reports and
     of the information, documents and other reports (or copies of such portions
     of any of the foregoing as the SEC may by rules and regulations prescribe)
     which Parent is required to file with the SEC pursuant to Section 13 or
     15(d) of the Exchange Act."

                                  ARTICLE THREE
                                  MISCELLANEOUS

     3.1. NOTIFICATION TO HOLDERS.

     The Company shall notify the Holders in accordance with Section 9.02 of the
Indenture of the execution of this Supplemental Indenture.

     3.2. RATIFICATION OF INDENTURE.

     The Indenture, as supplemented by this Supplemental Indenture, is in all
respects ratified and confirmed, and this Supplemental Indenture shall be deemed
part of the Indenture in the manner and to the extent herein and therein
provided.

     3.3. GOVERNING LAW.

     This Supplemental Indenture shall be deemed to be a contract made under the
internal laws of the State of Nevada, and for all purposes shall be construed in
accordance with the laws of said State.

     3.4. SEVERABILITY.

     In case any one or more of the provisions contained in this Supplemental
Indenture shall for any reason be held to be invalid, illegal or unenforceable
in any respect, such invalidity, illegality or unenforceability shall not affect
any other provision of this Supplemental Indenture, but this Supplemental

                                        2

<PAGE>

Indenture shall be construed as if such invalid, illegal or unenforceable
provision had never been contained herein.

     3.5. COUNTERPARTS.

     This Supplemental Indenture may be executed in any number of counterparts,
each of which shall be an original; but such counterparts shall together
constitute but one and the same instrument.

     3.6. EFFECTIVENESS.

     This Supplemental Indenture shall be effective and binding when executed by
the Company and the Trustee.

     3.7. TRUSTEE NOT RESPONSIBLE FOR RECITALS.

     The recitals herein contained are made by the Company and not by the
Trustee, and the Trustee assumes no responsibility for the correctness thereof.
The Trustee makes no representation as to the validity or sufficiency of this
Supplemental Indenture.

     3.8. PERFORMANCE BY TRUSTEE.

     The Trustee, for itself and its successors, accepts the trust of the
Indenture as amended by this Supplemental Indenture and agrees to perform the
same, but only upon the terms and conditions set forth in the Indenture,
including the terms and provisions defining and limiting the liability and
responsibility of the Trustee.

                                        3

<PAGE>

     IN WITNESS WHEREOF, the Company and the Trustee have caused this Second
Supplemental Indenture to be duly executed as of the day and year first above
written.

                                       MIRAGE RESORTS, INCORPORATED

                                       By:   ROBERT H. BALDWIN
                                           ------------------------------------
                                           Name:   Robert H. Baldwin
                                           Title:  President and Chief
                                                     Executive Officer

                                       By:   SCOTT LANGSNER
                                           ------------------------------------
                                           Name:   Scott Langsner
                                           Title:  Secretary and Treasurer

                                       THE CHASE MANHATTAN BANK
                                         as Trustee

                                       By:   TIMOTHY E. BURKE
                                           ------------------------------------
                                           Name:   Timothy E. Burke
                                           Title:  Vice President

                                        4

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