Item 1.01 Entry into a Material Definitive Agreement.
On September 30, 2008, MGM MIRAGE ("Company") through IKM MGM, LLC, a wholly-owned subsidiary of the Company, entered into Amendment No. 1 ("Amendment No. 1") to that certain operating agreement dated September 10, 2007 ("Operating Agreement"), with Kerzner Istithmar Las Vegas LLC as members, and IKM MGM Management, LLC and Kerzner Concepts Limited as managers. The Operating Agreement was filed as an exhibit to the Company's Current Report on Form 8-K dated September 13, 2007, which Current Report is incorporated herein by reference.
The parties are continuing their comprehensive review of the casino resort project and accordingly have entered into Amendment No. 1 to extend the design and planning stage of such project to March 10, 2010. The foregoing description of Amendment No. 1 does not purport to be complete and is qualified in its entirety by Amendment No. 1 filed as Exhibit 10 hereto and incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(a) Not applicable.

(b) Not applicable.

(c) Not applicable.

(d) Exhibits:

No. Description

10 Amendment No.1 to the Operating Agreement of IKM JV, LLC dated September 30, 2008.

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