Document:

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                                                                    EXHIBIT 10.6

                                    GUARANTEE

      This GUARANTEE ("GUARANTEE"), dated as of April 25, 2005, is made by each
of the Subsidiaries of MGM MIRAGE, a Delaware corporation (the "COMPANY"), (each
a "GUARANTOR" and collectively, jointly and severally, as "GUARANTORS") which
are set forth on Exhibit A attached hereto and incorporated herein by this
reference, in favor of The Bank of New York N.A. (the "TRUSTEE"), as Trustee for
the benefit of the holders of Notes (as defined below) authenticated and
delivered by the Trustee and to the Trustee pursuant to the Indenture referred
to below, with reference to the following facts:

                                    RECITALS

      A. The Company, previously entered into an Indenture dated as of May 31,
2000, with the Trustee and the Guarantors referred to therein (as amended,
supplemented or otherwise modified, the "INDENTURE") pursuant to which the
Company issued its 9.75% Subordinated Senior Notes due 2007 (the "NOTES").

      B. Each of the undersigned is a Restricted Subsidiary of the Company and
as such is required to guarantee the obligations of the Company under the
Indenture and the Notes.

      C. Each Guarantor expects to realize direct and indirect benefits as the
result of the availability of the aforementioned credit facilities to the
Company, as the result of financial and business support which will be provided
to the Guarantors by the Company.

                                    AGREEMENT

      NOW, THEREFORE, in consideration of good and valuable consideration, the
receipt and sufficiency of which is hereby acknowledged, each Guarantor hereby
jointly and severally represents, warrants, covenants, agrees and guaranties as
follows:

1.    DEFINITIONS.

      This Guarantee is one of the Guarantees referred to in the Indenture.
Terms defined in the Indenture and not otherwise defined in this Guarantee shall
have the meanings given those terms in the Indenture when used herein and such
definitions are incorporated herein as though set forth in full.

2.    GUARANTEE.

      (a) Each of the Guarantors, jointly and severally, hereby unconditionally
guarantees or reaffirms a previous guarantee, to each holder of a Note
authenticated and delivered by the Trustee and to the Trustee, irrespective of
the validity and enforceability of the Indenture, the Notes or the obligations
of the Company under the Indenture or the Notes, that: (i) the principal of and
interest on the Notes will be paid in full when due, whether at the maturity or
interest payment date, by acceleration, call for redemption, upon a purchase
offer or otherwise, and interest on the overdue principal and interest, if any,
of the Notes, if lawful, and all other

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obligations of the Company to the holders or the Trustee under the Indenture or
the Notes will be promptly paid in full or performed, all in accordance with the
terms of the Indenture and the Notes; and (ii) in case of any extension of time
of payment or renewal of any securities or any of such other obligations, they
will be paid in full when due or performed in accordance with the terms of the
extension or renewal, whether at maturity, by acceleration, call for redemption,
upon a purchase offer or otherwise (collectively, the "GUARANTEED OBLIGATIONS").
This Guarantee is a guarantee of payment and not of collection.

      Failing payment when due of any amount so guaranteed for whatever reason,
the Guarantors shall be jointly and severally obligated to pay the same before
failure to so pay becomes an Event of Default.

      (b) Each Guarantor agrees that (i) its obligations with regard to this
Guarantee shall be unconditional, irrespective of the validity, regularity or
enforceability of the Notes or the Indenture, any amendments to the Indenture or
the Notes (other than Article 15 of the Indenture), the absence of any action to
enforce the same, any delays in obtaining or realizing upon (or failures to
obtain or realize upon) the recovery of any judgment against the Company, any
action to enforce the same or any other circumstances that might otherwise
constitute a legal or equitable discharge or defense of a guarantor and (ii)
this Guarantee will not be discharged except by complete performance of the
obligations contained in the Notes and the Indenture. Each of the Guarantors
hereby waives diligence, presentment, demand of payment, filing of claims with a
court in the event of insolvency or bankruptcy of the Company, any right to
require a proceeding first against the Company or right to require the prior
disposition of the assets of the Company to meet its obligations, protest,
notice and all demands whatsoever. Without limiting the generality of the
foregoing, each of the Guarantors hereby waives, to the extent permitted under
Nev. Rev. Stat. 40.495, any rights arising out of Nev. Rev. Stat. 40.430.

      (c) If any holder or the Trustee is required by any court or otherwise to
return to either the Company or any Guarantor, or any custodian, trustee, or
similar official acting in relation to either the Company or any Guarantor, any
amount paid by either the Company or any of the Guarantors to the Trustee or
such holder, this Guarantee, to the extent theretofore discharged, shall be
reinstated in full force and effect. Each of the Guarantors agrees that it will
not be entitled to any right of subrogation in relation to the holders in
respect of any obligations guaranteed hereby except as set forth in Section 6
hereof.

      (d) Each of the Guarantors agrees that (i) the maturity of the obligations
guaranteed hereby may be accelerated as provided in Section 5.2 of the Indenture
for the purposes of this Guarantee, notwithstanding any stay, injunction or
other prohibition preventing such acceleration as to the Company of the
obligations guaranteed hereby, and (ii) in the event of any declaration of
acceleration of those obligations as provided in Section 5.2 of the Indenture,
those obligations (whether or not due and payable) will forthwith become due and
payable by each of the Guarantors for the purpose of this Guarantee.

                                        2

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3.    EXECUTION AND DELIVERY OF GUARANTEE.

      To evidence its guarantee set forth in Section 2 of this Guarantee, each
of the Guarantors agrees that a notation of such guarantee substantially in the
form of the notation included in the Note annexed to the Indenture as Exhibit A
shall be endorsed on each Note authenticated and delivered by the Trustee and
that this Guarantee shall be executed on behalf of such Guarantor by a duly
authorized officer.

      Each of the Guarantors agrees that its guarantee set forth in Section 2 of
this Guarantee shall remain in full force and effect and apply to all the Notes
notwithstanding any failure to endorse on each Note a notation of such
guarantee.

      If an Officer whose facsimile signature is on a Note no longer holds that
office at the time the Trustee authenticates the Note on which a guarantee is
endorsed, the guarantee shall be valid nevertheless.

      The delivery of any Note by the Trustee, after the authentication thereof
hereunder, shall constitute due delivery of this Guarantee on behalf of the
Guarantors.

4.    LIMITATION OF GUARANTORS' LIABILITY.

      Each Guarantor and by its acceptance hereof each holder hereby confirms
that it is the intention of all such parties that the guarantee by such
Guarantor pursuant to this Guarantee not constitute a fraudulent transfer or
conveyance for purposes of any federal or state law. To effectuate the foregoing
intention, the holders and each Guarantor hereby irrevocably agree that the
obligations of each such Guarantor under this Guarantee shall be limited to the
maximum amount as will, after giving effect to all other contingent and fixed
liabilities of such Guarantor and after giving effect to any collections from or
payments made by or on behalf of any other Guarantor (as defined in the
Indenture) in respect of the obligations of such other Guarantor (as defined in
the Indenture) under its Guarantee (as defined in the Indenture) or pursuant to
Section 5 of this Guarantee, result in the obligations of such Guarantor under
this Guarantee not constituting a fraudulent conveyance or fraudulent transfer
under federal or state law. This Section 4 is for the benefit of the creditors
of each Guarantor.

5.    CONTRIBUTION.

      In order to provide for just and equitable contribution among the
Guarantors, the Guarantors agree, inter se, that in the event any payment or
distribution is made by any Guarantor (a "Funding Guarantor") under this
Guarantee, such Funding Guarantor shall be entitled to a contribution from each
other Guarantor in a pro rata amount based on the net worth of each Guarantor
(including the Funding Guarantor) for all payments, damages and expenses
incurred by that Funding Guarantor in discharging the Company's obligations with
respect to the Notes or any other Guarantor's obligations with respect to this
Guarantee.

                                       3

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6.    RIGHTS UNDER THIS GUARANTEE.

      (a) Each of the Guarantors waives notice of the issuance, sale and
purchase of the Notes and notice from the Trustee or the holders from time to
time of any of the Notes of their acceptance and reliance on this Guarantee.

      (b) Notwithstanding any payment or payments made by the Guarantors by
reason of this Guarantee, the Guarantors shall not be subrogated to any rights
of the Trustee or any holder against the Company until all the Notes shall have
been paid or deemed to have been paid within the meaning of the Indenture. Any
payment made by the Guarantors by reason of this Guarantee shall be in all
respects subordinated to the full and complete payment or discharge under the
Indenture of all obligations guaranteed hereby, and no payment by the Guarantors
by reason of this Guarantee shall give rise to any claim of the Guarantors
against the Trustee or any holder of the Notes. Unless and until the Notes shall
have been paid or deemed to have been paid within the meaning of the Indenture,
neither the Guarantors nor any of them will assign or otherwise transfer any
such claim against the Company to any other person.

      (c) No set-off, counterclaim, reduction or diminution of any obligation or
any defense of any kind or nature (other than performance by the Guarantors of
their obligations hereunder) which any Guarantor may have or assert against the
Trustee or any holder of any Note shall be available hereunder to such Guarantor
against the Trustee.

      (d) Each Guarantor agrees to pay all costs, expenses and fees, including
all reasonable attorneys' fees, which may be incurred by the Trustee in
enforcing or attempting to enforce this Guarantee or protecting the rights of
the Trustee or the holders of the Notes, if any, in accordance with the
Indenture.

7.    PRIMARY OBLIGATIONS.

      Each Guarantor agrees that it is directly liable to each holder hereunder,
that the obligations of each Guarantor hereunder are independent of the
obligations of the Company or any other guarantor, and that a separate action
may be brought against each Guarantor, whether such action is brought against
the Company or any other guarantor or whether the Company or any other guarantor
is joined in such action. Each Guarantor agrees that its liability hereunder
shall be immediate and shall not be contingent upon the exercise or enforcement
by the Trustee or the holders of the Notes of whatever remedies they may have
against the Company or any other guarantor. Each Guarantor agrees that any
release which may be given by the Trustee or the holders of the Notes to the
Company or any other guarantor shall not release such Guarantor. Each Guarantor
consents and agrees that the Trustee shall be under no obligation to marshal any
property or assets of the Company or any other guarantor in favor of such
Guarantor, or against or in payment of any or all of the Guaranteed Obligations.

                                       4

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8.    WAIVERS.

      (a) Each Guarantor hereby waives any right to receive, or any claim or
defense based on failure to receive: (i) notice of the amount of the Guaranteed
Obligations; (ii) notice of any adverse change in the financial condition of the
Company or of any other fact that might increase such Guarantor's risk
hereunder; (iii) notice of a Default or Event of Default; and (iv) all other
notices (except if such notice is specifically required to be given to such
Guarantor under the Indenture) and demands to which such Guarantor might
otherwise be entitled.

      (b) Each Guarantor hereby waives the right by statute or otherwise to
require the Trustee or the holders to institute suit against the Company (or
against any other Person) or to exhaust any rights and remedies which the
Trustee or the holders have or may have against the Company (or against any
other Person). In this regard, each Guarantor agrees that it is bound to the
payment of each and all of the Guaranteed Obligations, whether now existing or
hereafter arising, as fully as if such Guaranteed Obligations were directly
owing to the Trustee and the holders by such Guarantor. Each Guarantor further
waives any defense arising by reason of any disability or other defense (other
than the defense that the Guaranteed Obligations shall have been fully and
finally performed and indefeasibly paid) of the Company or by reason of the
cessation from any cause whatsoever of the liability of the Company in respect
thereof.

      (c) Each Guarantor hereby waives: (i) any claim or defense directly or
indirectly arising from or caused by any election of remedies by the Trustee or
holders of the Notes, whether or not such election of remedies directly or
indirectly results in impairment or loss of rights or claims of such Guarantor
against the Company or other Persons; and (ii) any defenses based on suretyship
law or impairment of collateral.

9.    RELEASES.

      Each Guarantor consents and agrees that, without notice to or by such
Guarantor and without affecting or impairing the obligations of such Guarantor
hereunder, the Trustee may, by action or inaction, compromise or settle, extend
the period of duration or the time for the payment, or discharge the performance
of, or may refuse to, or otherwise not enforce, or may, by action or inaction,
release all or any one or more parties to, any one or more of the terms and
provisions of the Indenture or may grant other indulgences to the Company in
respect thereof, or may, by action or inaction, release or substitute any other
guarantor, if any, of the Guaranteed Obligations, or may enforce, exchange,
release, or waive, by action or inaction, any security for the Guaranteed
Obligations or any other guaranty of the Guaranteed Obligations, or any portion
thereof.

                                       5

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10.   NO ELECTION.

      The Trustee shall have the right to seek recourse against each Guarantor
to the fullest extent provided for herein and no election by the Trustee to
proceed in one form of action or proceeding, or against any party, or on any
obligation, shall constitute a waiver of Trustee's right to proceed in any other
form of action or proceeding, or against other parties unless the Trustee has
expressly waived such right in writing.

11.   FINANCIAL CONDITION OF THE COMPANY.

      Each Guarantor represents and warrants to the Trustee and holders that it
is currently informed of the financial condition of the Company and of all other
circumstances which a diligent inquiry would reveal and which bear upon the risk
of nonpayment of the Guaranteed Obligations. Each Guarantor further represents
and warrants to the Trustee and holders that it has read and understands the
terms and conditions of the Indenture and this Guarantee. Each Guarantor hereby
covenants that it will continue to keep itself informed of the Company's
financial condition, the financial condition of other guarantors, if any, and of
all other circumstances which bear upon the risk of nonpayment or nonperformance
of the Guaranteed Obligations.

12.   SUBORDINATION OF SUBSIDIARY GUARANTEES.

      The obligations of each Guarantor under this Guarantee are subordinated in
right of payment to the prior payment in full in cash of all Senior Indebtedness
(as defined in the Indenture) of each Guarantor on the same basis as the Notes
are subordinated to Senior Indebtedness of the Company. For the purposes of the
foregoing sentence, (a) the Trustee and the holders of the Notes shall have the
right to receive and/or retain payments by any of the Guarantors only at such
times as they may receive and/or retain payments in respect of Notes pursuant to
the Indenture, including Article 16 thereof and (b) Section 16.2 of the
Indenture shall apply as to each Guarantor and this Guarantee on the same basis
as it applies to the Company and the Notes (except that, as to any Guarantor,
the clauses in the last paragraph of Section 16.2 of the Indenture that read
"the terms and conditions set forth in Article 10" and "comply with the
conditions set forth in Article 10" shall be deemed to read, respectively, "the
terms and conditions set forth in Section 15.11" and "comply with the conditions
set forth in, or be released pursuant to the provisions set forth in, Section
15.11"). In the event that the Trustee receives any Subsidiary Guarantor payment
at a time when the Trustee has actual knowledge that such payment is prohibited
by the foregoing sentence, such Guarantor payment shall be paid over and
delivered to the holders of the Senior Indebtedness of such Guarantor remaining
unpaid, to the extent necessary to pay in full all such Senior Indebtedness. In
the event that any holder of a Note receives any Guarantor payment at a time
when such payment is prohibited by Section 15.12 of the Indenture, such
Guarantor payment shall be paid over and delivered to the holders of the Senior
Indebtedness of such Guarantor remaining unpaid, to the extent necessary to pay
in full all such Senior Indebtedness.

                                       6

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13.   BENEFITS OF THE INDENTURE.

      The provisions of Article 15 of the Indenture applicable to Guarantors (as
defined therein) shall be binding upon, and shall inure to the benefit of, each
Guarantor hereunder.

14.   GOVERNING LAW.

      This Guarantee shall be deemed to be a contract made and to be performed
entirely in the State of Nevada, and for all purposes shall be governed by and
construed in accordance with the internal laws of said State without regard to
the conflicts of law rules of said State.

15.   NON-INVOLVEMENT OF KIRK KERKORIAN AND TRACINDA CORPORATION.

      By accepting the benefits of this Guarantee, the Trustee and the holders
of each Note acknowledge that neither Kirk Kerkorian nor Tracinda Corporation,
individually or collectively, is a party to the Indenture or the Notes. In the
event (i) there is any alleged breach or default by any Guarantor under this
Guarantee or any such agreement, or (ii) any party hereto has any claim arising
from or relating to this Guarantee or any such agreement, the Trustee and the
holders of the Notes, nor any party claiming through them (to the extent
permitted by applicable law), shall commence any proceedings or otherwise seek
to impose any liability whatsoever against Mr. Kerkorian or Tracinda Corporation
by reason of such alleged breach, default or claim.

                                       7

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      IN WITNESS WHEREOF, each Guarantor has executed this Guarantee by its duly
authorized officer as of the date first written above.

                        By: /s/ BRYAN L. WRIGHT
                            ----------------------------------------------------
                            Bryan L. Wright
                            Assistant Secretary of each of the Guarantors listed
                            on Exhibit A hereto

                                       8

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                             EXHIBIT A - GUARANTORS

1.    AC Holding Corp., a Nevada corporation

2.    AC Holding Corp. II, a Nevada corporation

3.    The April Cook Companies, a Nevada corporation

4.    Beau Rivage Distribution Corp., a Mississippi corporation

5.    Beau Rivage Resorts, Inc. a Mississippi corporation

6.    Bellagio, LLC, a Nevada limited liability company

7.    Bellagio II, LLC, a Nevada limited liability company

8.    Boardwalk Casino, Inc., a Nevada corporation

9.    Bungalow, Inc., a Mississippi corporation

10.   Circus Circus Mississippi, Inc., a Mississippi corporation

11.   Circus Circus Casinos, Inc., a Nevada corporation

12.   Colorado Belle Corp., a Nevada corporation

13.   Country Star Las Vegas, LLC, a Nevada limited liability company

14.   Destron, Inc., a Nevada corporation

15.   Diamond Gold, Inc., a Nevada corporation

16.   Edgewater Hotel Corporation, a Nevada corporation

17.   EGARIM, Inc., an Alabama corporation

18.   Galleon, Inc., a Nevada corporation

19.   Gold Strike Aviation, Incorporated, a Nevada corporation

20.   Gold Strike Fuel Company, a Nevada partnership

21.   Gold Strike L.V., a Nevada partnership

22.   Goldstrike Finance Company, Inc., a Nevada corporation

23.   Goldstrike Investments, Incorporated, a Nevada corporation

24.   Grand Laundry, Inc., a Nevada corporation

25.   Jean Development Company, a Nevada partnership

26.   Jean Development West, a Nevada partnership

27.   Jean Fuel Company West, a Nevada partnership

28.   Last Chance Investments, Incorporated, a Nevada corporation

29.   LV Concrete Corp., a Nevada corporation

30.   MAC, Corp., a New Jersey corporation

31.   Mandalay Corp., a Nevada corporation

32.   Mandalay Development, a Nevada corporation

33.   Mandalay Marketing and Events, a Nevada corporation

34.   Mandalay Place (f.k.a. New Dirt, Inc.), a Nevada corporation

35.   Mandalay Resort Group, a Nevada corporation

36.   Metropolitan Marketing, LLC, a Nevada limited liability company

37.   MGM Grand Atlantic City, Inc., a New Jersey corporation

38.   MGM Grand Condominiums, LLC, a Nevada limited liability company

                                       9

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39.   MGM Grand Condominiums II, LLC, a Nevada limited liability company

40.   MGM Grand Detroit, Inc., a Delaware corporation

41.   Hotel, LLC, a Nevada limited liability company

42.   MGM Grand New York, LLC, a Nevada limited liability company

43.   MGM Grand Resorts, LLC, a Nevada limited liability company

44.   MGM MIRAGE Advertising, Inc., a Nevada corporation

45.   MGM MIRAGE Aircraft Holdings, LLC, a Nevada limited liability company

46.   MGM MIRAGE Aviation Corp., a Nevada corporation

47.   MGM MIRAGE Corporate Services, a Nevada corporation

48.   MGM MIRAGE Design Group, a Nevada corporation

49.   MGM MIRAGE Development, Inc., a Nevada corporation

50.   MGM MIRAGE Entertainment and Sports, a Nevada corporation

51.   MGM MIRAGE International, a Nevada corporation

52.   MGM MIRAGE Manufacturing Corp., a Nevada corporation

53.   MGM MIRAGE Operations, Inc., a Nevada corporation

54.   MGM MIRAGE Retail, a Nevada corporation

55.   MH, Inc., a Nevada corporation

56.   M.I.R. Travel, a Nevada corporation

57.   The Mirage Casino-Hotel, a Nevada corporation

58.   Mirage Laundry Services Corp., a Nevada corporation

59.   Mirage Leasing Corp., a Nevada corporation

60.   Mirage Resorts, Incorporated, a Nevada corporation

61.   MMNY Land Company, Inc., a New York corporation

62.   MRG Vegas Portal, Inc., a Nevada corporation

63.   MRGS Corp., a Nevada corporation

64.   M.S.E. Investments, Incorporated, a Nevada corporation

65.   New Castle Corp., a Nevada corporation

66.   New PRMA Las Vegas, Inc., a Nevada corporation

67.   New York-New York Hotel & Casino, LLC, a Nevada limited liability company

68.   New York-New York Tower, LLC, a Nevada limited liability company

69.   Oasis Development Company, Inc., a Nevada corporation

70.   Plane Truth, LLC, a Nevada limited liability company

71.   The Primadonna Company, LLC, a Nevada limited liability company

72.   PRMA Land Development Company, a Nevada corporation

73.   PRMA, LLC, a Nevada limited liability company

74.   Project CC, LLC, a Nevada limited liability company

75.   Railroad Pass Investment Group, a Nevada partnership

76.   Ramparts International, a Nevada corporation

77.   Ramparts, Inc., a Nevada corporation

78.   Restaurant Ventures of Nevada, Inc., a Nevada corporation

                                       10

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79.   Slots-A-Fun, Inc., a Nevada corporation

80.   Treasure Island Corp., a Nevada corporation

81.   Victoria Partners, a Nevada partnership

82.   VidiAd, a Nevada corporation

                                       11<PAGE>

                                                                    EXHIBIT 10.7

                                    GUARANTEE

      This GUARANTEE ("GUARANTEE"), dated as of April 25, 2005, is made by each
of the Subsidiaries of MGM MIRAGE, a Delaware corporation (the "COMPANY"), (each
a "GUARANTOR" and collectively, jointly and severally, as "GUARANTORS") which
are set forth on Exhibit A attached hereto and incorporated herein by this
reference, in favor of The Bank of New York N.A. (the "TRUSTEE"), as successor
to U.S. Trust Company, National Association (formerly known as U.S. Trust
Company of California, N.A.), as Trustee for the benefit of the holders of Notes
(as defined below) authenticated and delivered by the Trustee and to the Trustee
pursuant to the Indenture referred to below, with reference to the following
facts:

                                    RECITALS

      A. The Company, previously entered into an Indenture dated as of September
15, 2000, with the Trustee and the Guarantors referred to therein (as amended,
supplemented or otherwise modified, the "INDENTURE") pursuant to which the
Company issued its 8.50% Senior Notes due 2010 (the "NOTES").

      B. Each of the undersigned is a Restricted Subsidiary of the Company and
as such is required to guarantee the obligations of the Company under the
Indenture and the Notes.

      C. Each Guarantor expects to realize direct and indirect benefits as the
result of the availability of the aforementioned credit facilities to the
Company, as the result of financial and business support which will be provided
to the Guarantors by the Company.

                                    AGREEMENT

      NOW, THEREFORE, in consideration of good and valuable consideration, the
receipt and sufficiency of which is hereby acknowledged, each Guarantor hereby
jointly and severally represents, warrants, covenants, agrees and guaranties as
follows:

1.    DEFINITIONS.

      This Guarantee is one of the Guarantees referred to in the Indenture.
Terms defined in the Indenture and not otherwise defined in this Guarantee shall
have the meanings given those terms in the Indenture when used herein and such
definitions are incorporated herein as though set forth in full.

2.    GUARANTEE.

      (a) Each of the Guarantors, jointly and severally, hereby unconditionally
guarantees or reaffirms a previous guarantee, to each holder of a Note
authenticated and delivered by the Trustee and to the Trustee, irrespective of
the validity and enforceability of the Indenture, the Notes or the obligations
of the Company under the Indenture or the Notes, that: (i) the principal of and
interest on the Notes will be paid in full when due, whether at the maturity or
interest payment date, by acceleration, call for redemption, upon a purchase
offer or otherwise, and

<PAGE>

interest on the overdue principal and interest, if any, of the Notes, if lawful,
and all other obligations of the Company to the holders or the Trustee under the
Indenture or the Notes will be promptly paid in full or performed, all in
accordance with the terms of the Indenture and the Notes; and (ii) in case of
any extension of time of payment or renewal of any securities or any of such
other obligations, they will be paid in full when due or performed in accordance
with the terms of the extension or renewal, whether at maturity, by
acceleration, call for redemption, upon a purchase offer or otherwise
(collectively, the "GUARANTEED OBLIGATIONS"). This Guarantee is a guarantee of
payment and not of collection.

      Failing payment when due of any amount so guaranteed for whatever reason,
the Guarantors shall be jointly and severally obligated to pay the same before
failure to so pay becomes an Event of Default.

      (b) Each Guarantor agrees that (i) its obligations with regard to this
Guarantee shall be unconditional, irrespective of the validity, regularity or
enforceability of the Notes or the Indenture, any amendments to the Indenture or
the Notes (other than Article 15 of the Indenture), the absence of any action to
enforce the same, any delays in obtaining or realizing upon (or failures to
obtain or realize upon) the recovery of any judgment against the Company, any
action to enforce the same or any other circumstances that might otherwise
constitute a legal or equitable discharge or defense of a guarantor and (ii)
this Guarantee will not be discharged except by complete performance of the
obligations contained in the Notes and the Indenture. Each of the Guarantors
hereby waives diligence, presentment, demand of payment, filing of claims with a
court in the event of insolvency or bankruptcy of the Company, any right to
require a proceeding first against the Company or right to require the prior
disposition of the assets of the Company to meet its obligations, protest,
notice and all demands whatsoever. Without limiting the generality of the
foregoing, each of the Guarantors hereby waives, to the extent permitted under
Nev. Rev. Stat. 40.495, any rights arising out of Nev. Rev. Stat. 40.430.

      (c) If any holder or the Trustee is required by any court or otherwise to
return to either the Company or any Guarantor, or any custodian, trustee, or
similar official acting in relation to either the Company or any Guarantor, any
amount paid by either the Company or any of the Guarantors to the Trustee or
such holder, this Guarantee, to the extent theretofore discharged, shall be
reinstated in full force and effect. Each of the Guarantors agrees that it will
not be entitled to any right of subrogation in relation to the holders in
respect of any obligations guaranteed hereby except as set forth in Section 6
hereof.

      (d) Each of the Guarantors agrees that (i) the maturity of the obligations
guaranteed hereby may be accelerated as provided in Section 5.2 of the Indenture
for the purposes of this Guarantee, notwithstanding any stay, injunction or
other prohibition preventing such acceleration as to the Company of the
obligations guaranteed hereby, and (ii) in the event of any declaration of
acceleration of those obligations as provided in Section 5.2 of the Indenture,
those obligations (whether or not due and payable) will forthwith become due and
payable by each of the Guarantors for the purpose of this Guarantee.

                                       2

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3.    EXECUTION AND DELIVERY OF GUARANTEE.

      To evidence its guarantee set forth in Section 2 of this Guarantee, each
of the Guarantors agrees that a notation of such guarantee substantially in the
form of the notation included in the Note annexed to the Indenture as Exhibit A
shall be endorsed on each Note authenticated and delivered by the Trustee and
that this Guarantee shall be executed on behalf of such Guarantor by a duly
authorized officer.

      Each of the Guarantors agrees that its guarantee set forth in Section 2 of
this Guarantee shall remain in full force and effect and apply to all the Notes
notwithstanding any failure to endorse on each Note a notation of such
guarantee.

      If an Officer whose facsimile signature is on a Note no longer holds that
office at the time the Trustee authenticates the Note on which a guarantee is
endorsed, the guarantee shall be valid nevertheless.

      The delivery of any Note by the Trustee, after the authentication thereof
hereunder, shall constitute due delivery of this Guarantee on behalf of the
Guarantors.

4.    LIMITATION OF GUARANTORS' LIABILITY.

      Each Guarantor and by its acceptance hereof each holder hereby confirms
that it is the intention of all such parties that the guarantee by such
Guarantor pursuant to this Guarantee not constitute a fraudulent transfer or
conveyance for purposes of any federal or state law. To effectuate the foregoing
intention, the holders and each Guarantor hereby irrevocably agree that the
obligations of each such Guarantor under this Guarantee shall be limited to the
maximum amount as will, after giving effect to all other contingent and fixed
liabilities of such Guarantor and after giving effect to any collections from or
payments made by or on behalf of any other Guarantor (as defined in the
Indenture) in respect of the obligations of such other Guarantor (as defined in
the Indenture) under its Guarantee (as defined in the Indenture) or pursuant to
Section 5 of this Guarantee, result in the obligations of such Guarantor under
this Guarantee not constituting a fraudulent conveyance or fraudulent transfer
under federal or state law. This Section 4 is for the benefit of the creditors
of each Guarantor.

5.    CONTRIBUTION.

      In order to provide for just and equitable contribution among the
Guarantors, the Guarantors agree, inter se, that in the event any payment or
distribution is made by any Guarantor (a "Funding Guarantor") under this
Guarantee, such Funding Guarantor shall be entitled to a contribution from each
other Guarantor in a pro rata amount based on the net worth of each Guarantor
(including the Funding Guarantor) for all payments, damages and expenses
incurred by that Funding Guarantor in discharging the Company's obligations with
respect to the Notes or any other Guarantor's obligations with respect to this
Guarantee.

                                       3

<PAGE>

6.    RIGHTS UNDER THIS GUARANTEE.

      (a) Each of the Guarantors waives notice of the issuance, sale and
purchase of the Notes and notice from the Trustee or the holders from time to
time of any of the Notes of their acceptance and reliance on this Guarantee.

      (b) Notwithstanding any payment or payments made by the Guarantors by
reason of this Guarantee, the Guarantors shall not be subrogated to any rights
of the Trustee or any holder against the Company until all the Notes shall have
been paid or deemed to have been paid within the meaning of the Indenture. Any
payment made by the Guarantors by reason of this Guarantee shall be in all
respects subordinated to the full and complete payment or discharge under the
Indenture of all obligations guaranteed hereby, and no payment by the Guarantors
by reason of this Guarantee shall give rise to any claim of the Guarantors
against the Trustee or any holder of the Notes. Unless and until the Notes shall
have been paid or deemed to have been paid within the meaning of the Indenture,
neither the Guarantors nor any of them will assign or otherwise transfer any
such claim against the Company to any other person.

      (c) No set-off, counterclaim, reduction or diminution of any obligation or
any defense of any kind or nature (other than performance by the Guarantors of
their obligations hereunder) which any Guarantor may have or assert against the
Trustee or any holder of any Note shall be available hereunder to such Guarantor
against the Trustee.

      (d) Each Guarantor agrees to pay all costs, expenses and fees, including
all reasonable attorneys' fees, which may be incurred by the Trustee in
enforcing or attempting to enforce this Guarantee or protecting the rights of
the Trustee or the holders of the Notes, if any, in accordance with the
Indenture.

7.    PRIMARY OBLIGATIONS.

      Each Guarantor agrees that it is directly liable to each holder hereunder,
that the obligations of each Guarantor hereunder are independent of the
obligations of the Company or any other guarantor, and that a separate action
may be brought against each Guarantor, whether such action is brought against
the Company or any other guarantor or whether the Company or any other guarantor
is joined in such action. Each Guarantor agrees that its liability hereunder
shall be immediate and shall not be contingent upon the exercise or enforcement
by the Trustee or the holders of the Notes of whatever remedies they may have
against the Company or any other guarantor. Each Guarantor agrees that any
release which may be given by the Trustee or the holders of the Notes to the
Company or any other guarantor shall not release such Guarantor. Each Guarantor
consents and agrees that the Trustee shall be under no obligation to marshal any
property or assets of the Company or any other guarantor in favor of such
Guarantor, or against or in payment of any or all of the Guaranteed Obligations.

                                       4

<PAGE>

8.    WAIVERS.

      (a) Each Guarantor hereby waives any right to receive, or any claim or
defense based on failure to receive: (i) notice of the amount of the Guaranteed
Obligations; (ii) notice of any adverse change in the financial condition of the
Company or of any other fact that might increase such Guarantor's risk
hereunder; (iii) notice of a Default or Event of Default; and (iv) all other
notices (except if such notice is specifically required to be given to such
Guarantor under the Indenture) and demands to which such Guarantor might
otherwise be entitled.

      (b) Each Guarantor hereby waives the right by statute or otherwise to
require the Trustee or the holders to institute suit against the Company (or
against any other Person) or to exhaust any rights and remedies which the
Trustee or the holders have or may have against the Company (or against any
other Person). In this regard, each Guarantor agrees that it is bound to the
payment of each and all of the Guaranteed Obligations, whether now existing or
hereafter arising, as fully as if such Guaranteed Obligations were directly
owing to the Trustee and the holders by such Guarantor. Each Guarantor further
waives any defense arising by reason of any disability or other defense (other
than the defense that the Guaranteed Obligations shall have been fully and
finally performed and indefeasibly paid) of the Company or by reason of the
cessation from any cause whatsoever of the liability of the Company in respect
thereof.

      (c) Each Guarantor hereby waives: (i) any claim or defense directly or
indirectly arising from or caused by any election of remedies by the Trustee or
holders of the Notes, whether or not such election of remedies directly or
indirectly results in impairment or loss of rights or claims of such Guarantor
against the Company or other Persons; and (ii) any defenses based on suretyship
law or impairment of collateral.

9.    RELEASES.

      Each Guarantor consents and agrees that, without notice to or by such
Guarantor and without affecting or impairing the obligations of such Guarantor
hereunder, the Trustee may, by action or inaction, compromise or settle, extend
the period of duration or the time for the payment, or discharge the performance
of, or may refuse to, or otherwise not enforce, or may, by action or inaction,
release all or any one or more parties to, any one or more of the terms and
provisions of the Indenture or may grant other indulgences to the Company in
respect thereof, or may, by action or inaction, release or substitute any other
guarantor, if any, of the Guaranteed Obligations, or may enforce, exchange,
release, or waive, by action or inaction, any security for the Guaranteed
Obligations or any other guaranty of the Guaranteed Obligations, or any portion
thereof.

10.   NO ELECTION.

      The Trustee shall have the right to seek recourse against each Guarantor
to the fullest extent provided for herein and no election by the Trustee to
proceed in one form of action or proceeding, or against any party, or on any
obligation, shall constitute a waiver of Trustee's right to proceed in any other
form of action or proceeding, or against other parties unless the Trustee has
expressly waived such right in writing.

                                       5

<PAGE>

11.   FINANCIAL CONDITION OF THE COMPANY.

      Each Guarantor represents and warrants to the Trustee and holders that it
is currently informed of the financial condition of the Company and of all other
circumstances which a diligent inquiry would reveal and which bear upon the risk
of nonpayment of the Guaranteed Obligations. Each Guarantor further represents
and warrants to the Trustee and holders that it has read and understands the
terms and conditions of the Indenture and this Guarantee. Each Guarantor hereby
covenants that it will continue to keep itself informed of the Company's
financial condition, the financial condition of other guarantors, if any, and of
all other circumstances which bear upon the risk of nonpayment or nonperformance
of the Guaranteed Obligations.

12.   BENEFITS OF THE INDENTURE.

      The provisions of Article 15 of the Indenture applicable to Guarantors (as
defined therein) shall be binding upon, and shall inure to the benefit of, each
Guarantor hereunder.

13.   GOVERNING LAW.

      This Guarantee shall be deemed to be a contract made and to be performed
entirely in the State of Nevada, and for all purposes shall be governed by and
construed in accordance with the internal laws of said State without regard to
the conflicts of law rules of said State.

14.   NON-INVOLVEMENT OF KIRK KERKORIAN AND TRACINDA CORPORATION.

      By accepting the benefits of this Guarantee, the Trustee and the holders
of each Note acknowledge that neither Kirk Kerkorian nor Tracinda Corporation,
individually or collectively, is a party to the Indenture or the Notes. In the
event (i) there is any alleged breach or default by any Guarantor under this
Guarantee or any such agreement, or (ii) any party hereto has any claim arising
from or relating to this Guarantee or any such agreement, the Trustee and the
holders of the Notes, nor any party claiming through them (to the extent
permitted by applicable law), shall commence any proceedings or otherwise seek
to impose any liability whatsoever against Mr. Kerkorian or Tracinda Corporation
by reason of such alleged breach, default or claim.

                                       6

<PAGE>

      IN WITNESS WHEREOF, each Guarantor has executed this Guarantee by its duly
authorized officer as of the date first written above.

                        By: /s/ BRYAN L. WRIGHT
                            ----------------------------------------------------
                            Bryan L. Wright
                            Assistant Secretary of each of the Guarantors listed
                            on Exhibit A hereto

                                       7

<PAGE>

                             EXHIBIT A - GUARANTORS

1.    AC Holding Corp., a Nevada corporation

2.    AC Holding Corp. II, a Nevada corporation

3.    The April Cook Companies, a Nevada corporation

4.    Beau Rivage Distribution Corp., a Mississippi corporation

5.    Beau Rivage Resorts, Inc. a Mississippi corporation

6.    Bellagio, LLC, a Nevada limited liability company

7.    Bellagio II, LLC, a Nevada limited liability company

8.    Boardwalk Casino, Inc., a Nevada corporation

9.    Bungalow, Inc., a Mississippi corporation

10.   Circus Circus Mississippi, Inc., a Mississippi corporation

11.   Circus Circus Casinos, Inc., a Nevada corporation

12.   Colorado Belle Corp., a Nevada corporation

13.   Country Star Las Vegas, LLC, a Nevada limited liability company

14.   Destron, Inc., a Nevada corporation

15.   Diamond Gold, Inc., a Nevada corporation

16.   Edgewater Hotel Corporation, a Nevada corporation

17.   EGARIM, Inc., an Alabama corporation

18.   Galleon, Inc., a Nevada corporation

19.   Gold Strike Aviation, Incorporated, a Nevada corporation

20.   Gold Strike Fuel Company, a Nevada partnership

21.   Gold Strike L.V., a Nevada partnership

22.   Goldstrike Finance Company, Inc., a Nevada corporation

23.   Goldstrike Investments, Incorporated, a Nevada corporation

24.   Grand Laundry, Inc., a Nevada corporation

25.   Jean Development Company, a Nevada partnership

26.   Jean Development West, a Nevada partnership

27.   Jean Fuel Company West, a Nevada partnership

28.   Last Chance Investments, Incorporated, a Nevada corporation

29.   LV Concrete Corp., a Nevada corporation

30.   MAC, Corp., a New Jersey corporation

31.   Mandalay Corp., a Nevada corporation

32.   Mandalay Development, a Nevada corporation

33.   Mandalay Marketing and Events, a Nevada corporation

34.   Mandalay Place (f.k.a. New Dirt, Inc.), a Nevada corporation

35.   Mandalay Resort Group, a Nevada corporation

36.   Metropolitan Marketing, LLC, a Nevada limited liability company

37.   MGM Grand Atlantic City, Inc., a New Jersey corporation

38.   MGM Grand Condominiums, LLC, a Nevada limited liability company

                                       8

<PAGE>

39.   MGM Grand Condominiums II, LLC, a Nevada limited liability company

40.   MGM Grand Detroit, Inc., a Delaware corporation

41.   MGM Grand Hotel, LLC, a Nevada limited liability company

42.   MGM Grand New York, LLC, a Nevada limited liability company

43.   MGM Grand Resorts, LLC, a Nevada limited liability company

44.   MGM MIRAGE Advertising, Inc., a Nevada corporation

45.   MGM MIRAGE Aircraft Holdings, LLC, a Nevada limited liability company

46.   MGM MIRAGE Aviation Corp., a Nevada corporation

47.   MGM MIRAGE Corporate Services, a Nevada corporation

48.   MGM MIRAGE Design Group, a Nevada corporation

49.   MGM MIRAGE Development, Inc., a Nevada corporation

50.   MGM MIRAGE Entertainment and Sports, a Nevada corporation

51.   MGM MIRAGE International, a Nevada corporation

52.   MGM MIRAGE Manufacturing Corp., a Nevada corporation

53.   MGM MIRAGE Operations, Inc., a Nevada corporation

54.   MGM MIRAGE Retail, a Nevada corporation

55.   MH, Inc., a Nevada corporation

56.   M.I.R. Travel, a Nevada corporation

57.   The Mirage Casino-Hotel, a Nevada corporation

58.   Mirage Laundry Services Corp., a Nevada corporation

59.   Mirage Leasing Corp., a Nevada corporation

60.   Mirage Resorts, Incorporated, a Nevada corporation

61.   MMNY Land Company, Inc., a New York corporation

62.   MRG Vegas Portal, Inc., a Nevada corporation

63.   MRGS Corp., a Nevada corporation

64.   M.S.E. Investments, Incorporated, a Nevada corporation

65.   New Castle Corp., a Nevada corporation

66.   New PRMA Las Vegas, Inc., a Nevada corporation

67.   New York-New York Hotel & Casino, LLC, a Nevada limited liability company

68.   New York-New York Tower, LLC, a Nevada limited liability company

69.   Oasis Development Company, Inc., a Nevada corporation

70.   Plane Truth, LLC, a Nevada limited liability company

71.   The Primadonna Company, LLC, a Nevada limited liability company

72.   PRMA Land Development Company, a Nevada corporation

73.   PRMA, LLC, a Nevada limited liability company

74.   Project CC, LLC, a Nevada limited liability company

75.   Railroad Pass Investment Group, a Nevada partnership

76.   Ramparts International, a Nevada corporation

77.   Ramparts, Inc., a Nevada corporation

78.   Restaurant Ventures of Nevada, Inc., a Nevada corporation

                                       9

<PAGE>

79.   Slots-A-Fun, Inc., a Nevada corporation

80.   Treasure Island Corp., a Nevada corporation

81.   Victoria Partners, a Nevada partnership

82.   VidiAd, a Nevada corporation

                                       10

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