VegasChatter fan and super sleuth Pierce G. wanted to confirm or bust that myth. And, did.
He reports that after two calls to MGM Grand (the first found that most employees didn't really know, either), he discovered that "it is a fact not a rumor that the winner will be given the machine after it is deactivated."
If you're feeling lucky and want to try your luck at the Lion's Share, look for the slot on the MGM casino floor. It moves around from time to time so, if you don't see it on first pass, ask an employee. And, if you discover that someone finally struck it rich on the slot and has carted it home, don't forget to let us know!