SECURITIES AND EXCHANGE COMMISSION 
                    Washington, D.C. 20549
                       
                          FORM 8-K
                      CURRENT REPORT
                       
                 Pursuant to Section 13 or 15(d)
             of the Securities Exchange Act of 1934
                       
        Date of Report (Date of earliest event reported)
                       November 20, 1995
                        
                          
                          
                MIRAGE RESORTS, INCORPORATED
____________________________________________________________
  (Exact name of Registrant as specified in its charter)
                     
Nevada                       1-6697            88-0058016
____________________________________________________________
(State or other juris-     (Commission    (IRS Employer
diction of incorporation)  File Number)   Identification No.)



3400 Las Vegas Boulevard South, Las Vegas, Nevada   89109
____________________________________________________________     
(Address of principal executive offices)         (Zip Code)



Registrant's telephone number, including area code:
(702) 791-7111



_____________________________________________________________
(Former name or former address, if changed since last report)


<PAGE>
Item 5.   OTHER EVENTS.

          On November 20, 1995, the Registrant commenced a
          commercial paper program which provides for the
          issuance, from time to time, of up to $350
          million principal amount of unsecured short-term
          notes outstanding at any one time (the "CP
          Notes") co-issued by the Registrant and certain
          of its principal subsidiaries.  The CP Notes
          will be offered and sold only to institutional
          accredited investors through the Registrant's
          Placement Agents, Morgan Stanley & Co.
          Incorporated, BA Securities, Inc. and CS First
          Boston Corporation. The Issuing and Paying Agent
          for the CP Notes is BankAmerica National Trust
          Company.  The CP Notes are backed by up to $350
          million of credit available under the
          Registrant's existing $1 billion bank credit 
          facility.  On November 20, 1995, the Registrant 
          issued and sold $15 million principal amount of 
          CP Notes, with maturities ranging from seven to 
          32 days and a weighted average effective interest 
          rate of 6.02% per annum.

          On November 20, 1995, the Registrant and its
          indirect wholly owned subsidiary completed the
          acquisition of several parcels of land,
          aggregating approximately 18.2 acres, at the
          center of the strip in Biloxi, Mississippi where
          Interstate 110 meets the Gulf Coast beachfront.
          The total purchase price for the site was
          approximately $27.7 million, including cash and
          117,647 shares of the Registrant's Common Stock
          valued at $31.875 per share.
          
          Subject to the receipt of required licenses and
          permits, the Registrant intends to develop a
          major casino-based destination resort on the
          site.  The planned facility is envisioned to be
          a luxurious high-end resort featuring a casino,
          approximately 1,200 hotel rooms and various
          other amenities. The project is in the early
          design phase, but the Registrant anticipates
          that the total project cost may approximate $300
          million and that the facility will open in late
          1997.  Development of the project will be funded
          using the Registrant's bank credit facility.
                                 2
<PAGE>
Item 7.   FINANCIAL STATEMENTS AND EXHIBITS.
     (c)  EXHIBITS.
      
      4.1  Issuing and Paying Agency Agreement, dated 
           November 13, 1995, between the Registrant, THE 
           MIRAGE CASINO HOTEL, Treasure Island Corp., 
           Bellagio, GNLV, CORP. and MH, INC., as issuers 
           (the "Issuers"), and BankAmerica National Trust 
           Company, as issuing and paying agent (without 
           exhibit).
          
      4.2  Form of Commercial Paper Note of the Issuers.
                             
     99.1  Commercial Paper Dealer Agreement, dated 
           November 13, 1995, between the Registrant and 
           CS First Boston Corporation (without exhibits).
          
     99.2  Commercial Paper Dealer Agreement, dated 
           November 13, 1995, between the Registrant and BA 
           Securities, Inc. (without exhibits).
          
     99.3  Commercial Paper Dealer Agreement, dated 
           November 13, 1995, between the Registrant and 
           Morgan Stanley & Co. Incorporated (without 
           exhibits).
          
                                 2
<PAGE>
                        SIGNATURES
                             
Pursuant to the requirements of the Securities Exchange
Act of 1934, the Registrant has duly caused this report to
be signed on its behalf by the undersigned, thereunto duly
authorized.

                          MIRAGE RESORTS, INCORPORATED
                                  (Registrant)


Date:  December 4, 1995   By:  BRUCE A. LEVIN
                          BRUCE A. LEVIN
                          Vice President and General Counsel


                                 3
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SECURITIES AND EXCHANGE COMMISSION 
                    Washington, D.C. 20549
                       
                          FORM 8-K
                      CURRENT REPORT
                       
                 Pursuant to Section 13 or 15(d)
             of the Securities Exchange Act of 1934
                       
        Date of Report (Date of earliest event reported)
                       November 20, 1995
                        
                          
                          
                MIRAGE RESORTS, INCORPORATED
____________________________________________________________
  (Exact name of Registrant as specified in its charter)
                     
Nevada                       1-6697            88-0058016
____________________________________________________________
(State or other juris-     (Commission    (IRS Employer
diction of incorporation)  File Number)   Identification No.)

3400 Las Vegas Boulevard South, Las Vegas, Nevada   89109
____________________________________________________________     
(Address of principal executive offices)         (Zip Code)

Registrant's telephone number, including area code:
(702) 791-7111

_____________________________________________________________
(Former name or former address, if changed since last report)
Item 5.   OTHER EVENTS.

          On November 20, 1995, the Registrant commenced a
          commercial paper program which provides for the
          issuance, from time to time, of up to $350
          million principal amount of unsecured short-term
          notes outstanding at any one time (the "CP
          Notes") co-issued by the Registrant and certain
          of its principal subsidiaries.  The CP Notes
          will be offered and sold only to institutional
          accredited investors through the Registrant's
          Placement Agents, Morgan Stanley & Co.
          Incorporated, BA Securities, Inc. and CS First
          Boston Corporation. The Issuing and Paying Agent
          for the CP Notes is BankAmerica National Trust
          Company.  The CP Notes are backed by up to $350
          million of credit available under the
          Registrant's existing $1 billion bank credit 
          facility.  On November 20, 1995, the Registrant 
          issued and sold $15 million principal amount of 
          CP Notes, with maturities ranging from seven to 
          32 days and a weighted average effective interest 
          rate of 6.02% per annum.

          On November 20, 1995, the Registrant and its
          indirect wholly owned subsidiary completed the
          acquisition of several parcels of land,
          aggregating approximately 18.2 acres, at the
          center of the strip in Biloxi, Mississippi where
          Interstate 110 meets the Gulf Coast beachfront.
          The total purchase price for the site was
          approximately $27.7 million, including cash and
          117,647 shares of the Registrant's Common Stock
          valued at $31.875 per share.
          
          Subject to the receipt of required licenses and
          permits, the Registrant intends to develop a
          major casino-based destination resort on the
          site.  The planned facility is envisioned to be
          a luxurious high-end resort featuring a casino,
          approximately 1,200 hotel rooms and various
          other amenities. The project is in the early
          design phase, but the Registrant anticipates
          that the total project cost may approximate $300
          million and that the facility will open in late
          1997.  Development of the project will be funded
          using the Registrant's bank credit facility.
                                 2
Item 7.   FINANCIAL STATEMENTS AND EXHIBITS.
     (c)  EXHIBITS.
      
      4.1  Issuing and Paying Agency Agreement, dated 
           November 13, 1995, between the Registrant, THE 
           MIRAGE CASINO HOTEL, Treasure Island Corp., 
           Bellagio, GNLV, CORP. and MH, INC., as issuers 
           (the "Issuers"), and BankAmerica National Trust 
           Company, as issuing and paying agent (without 
           exhibit).
          
      4.2  Form of Commercial Paper Note of the Issuers.
                             
     99.1  Commercial Paper Dealer Agreement, dated 
           November 13, 1995, between the Registrant and 
           CS First Boston Corporation (without exhibits).
          
     99.2  Commercial Paper Dealer Agreement, dated 
           November 13, 1995, between the Registrant and BA 
           Securities, Inc. (without exhibits).
          
     99.3  Commercial Paper Dealer Agreement, dated 
           November 13, 1995, between the Registrant and 
           Morgan Stanley & Co. Incorporated (without 
           exhibits).
          
                                 2
SIGNATURES
                             
Pursuant to the requirements of the Securities Exchange
Act of 1934, the Registrant has duly caused this report to
be signed on its behalf by the undersigned, thereunto duly
authorized.

                          MIRAGE RESORTS, INCORPORATED
                                  (Registrant)

Date:  December 4, 1995   By:  BRUCE A. LEVIN
                          BRUCE A. LEVIN
                          Vice President and General Counsel

                                 3