• Overview

It's not your imagination -- MGM Resorts International (formerly MGM MIRAGE) is one of the world's largest gaming firms. The company's more than 15 partially or wholly owned properties include some of the biggest names on the Las Vegas Strip, including MGM Grand, The Mirage, and the Monte Carlo, as well as Luxor, Bellagio, and Mandalay Bay. MGM Resorts also owns or has a stake in other casinos in Nevada, as well as in Michigan (MGM Grand Detroit) and Mississippi (Beau Rivage). Internationally, it operates in China and Dubai. The company changed its name from MGM MIRAGE in 2010 to better reflect its family of hotel brands and its expanding global presence.

Geographic Reach

MGM Resorts owns a little more than half of its assets in China, through its 51%-owned MGM China, which completed a $1.4 billion IPO in 2011. MGM Resorts is also developing Bellagio, MGM Grand, and Skylofts hotels in Dubai that are expected to open in 2013. A joint venture hotel in Shanghai is also set to open in 2015. Despite these plans, the company still earns the majority of revenues from its Las Vegas operations. Analysts fault MGM for its US-heavy portfolio, and for entering the Chinese market relatively late in the game compared to rivals such as Las Vegas Sands and Wynn Resorts.


The company has two reportable segments that are based on the regions in which it operates: wholly owned domestic resorts and MGM China. MGM Resorts currently operates 15 wholly owned resorts in the US.  MGM China's operations consist of the MGM Macau resort and casino.

Sales and Marketing

MGM Resorts spent about $139 million on advertising during fiscal 2012. The company advertises on the radio, television, internet, billboards, and in newspapers and magazines in selected cities throughout the US and overseas. MGM Resorts also use direct mail and social media to reach out to past guests and potential customers. The company advertises through regional marketing offices located in major cities.

Financial Performance

In fiscal 2012 the company’s revenues spiked by 17% compared to fiscal 2011. The increase came from increased gaming revenues and a bump in business at the company's Las Vegas Strip resorts.

Cash flow decreased in fiscal 2012 due to increased use of cash in investing activities. During the year the company had capital expenditures of $423 million related to the room remodel at MGM Grand and Spa Tower at Bellagio. The company also spent money on various resorts for restaurant remodels, entertainment venue remodels, and theater renovations.

Despite the large increase in revenues during fiscal 2012, the company posted a loss of $1.8 billion, caused by increases in operating costs, interest expenses, and charges related to debt.


The company's MGM China is also partially-owned by private Macau casino developer Pansy Ho. Before MGM China's 2011 IPO, New Jersey regulators issued a report declaring Ho an ''unsuitable'' business partner for MGM, because of allegations her father Stanley Ho has had ties to organized crime. The government finding jeopardized MGM Resorts' license for its Borgata casino in Atlantic City, and MGM must sell its 50% share in the New Jersey property in 2013 in order to maintain its joint venture in Macau. (Borgata is also a joint venture; Boyd Gaming owns the other half and operates the resort.)


Founder Kirk Kerkorian owns more than 20% of the firm. Tracinda Corporation owns about 18% of the company.

Company Background

MGM Resorts was formed when MGM Grand acquired Mirage Resorts in 2000. The company shot to the top of the gaming world in 2005 when it acquired rival Mandalay Resort Group for $7.9 billion. However, Harrah's Entertainment surpassed MGM Resorts after it merged with Caesars. (Harrah's later changed its name to Caesars Entertainment.)

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2880 Las Vegas Blvd S
Las Vegas, NV 89109-1138
Phone: 1 (702) 734-0410
Fax: 1 (702) 7342268


  • Employer Type: Unknown
  • Vice President Of Slot Operations: Joanne Kraly
  • Human Resource Executive: Laura Lee
  • Pres: Donald Thrasher

Major Office Locations

  • Las Vegas, NV
  • Las Vegas, NV

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