MGM Resorts International at a Glance

Uppers

  • Prominent presence in Las Vegas owning several key resorts including the MGM Grand, the Bellagio, Mandalay Bay and The Mirage

Downers

  • Although analysts have predicted MGM Resorts International to meet financial obligations through 2013, the economic turmoil in Las Vegas may affect the company’s resorts in the city

The Bottom Line

  • MGM Resorts International is a leading global hospitality company, operating premiere destination resorts with holdings in gaming, entertainment and hospitality.

About MGM Resorts International

MGM Resorts International is one of the world's largest gaming firms. The company's 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, Mandalay Bay, and the new T-Mobile Arena. MGM Resorts International 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 to MGM Resorts International back in 2010 to better reflect its family of hotel brands and its expanding global presence.

Geographic Reach

The company's two main reportable segments are based on the regions in which it operates: wholly-owned domestic resorts and MGM China. MGM Resorts International's China operations consist of the MGM Macau resort and casino. Wholly-owned domestic resorts accounted for more than 70% of sales in fiscal 2015 while MGM China accounted for 24%.

Sales and Marketing

MGM Resorts International spent about $156 million on advertising during fiscal 2015. The company advertises on the radio, television, internet, billboards, and in newspapers and magazines in selected cities throughout the US and overseas. MGM Resorts International 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

During fiscal 2015 the company's revenue decreased by $891.9 million compared to the prior fiscal period.

MGM Resorts International suffered a net loss in fiscal 2015. Its net loss increased by $297.8 million compared to the net loss the company reported in fiscal 2014.

However, the company still ended fiscal 2015 with more than $1 billion in cash on hand.

Strategy

MGM Resorts International continues to make significant investments in its resorts through newly remodeled hotel rooms, restaurants, entertainment and nightlife offerings, as well as other new features and amenities. In Macau, the company plans to spend approximately $2.9 billion to develop a resort and casino featuring approximately 1,600 hotel rooms, 500 gaming tables, and up to 2,500 slots. MGM Resorts International has also been actively pursuing development opportunities in markets such as Maryland and Massachusetts.

In 2016 MGM Resorts International opened the new 20,000 seat T-Mobile arena in Las Vegas. The company hopes to attract a large number of high-profile concerts and sporting events. The long-term plan is to lure a NHL or NBA team to Las Vegas.

Also that year, the company bought Boyd Gaming's 50% stake in (and operating duties for) Atlantic City's Borgata Hotel Casino & Spa for $589 million.

The company also spun off its MGM Growth Properties subsidiary during 2016 as a real estate investment trust.

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Company News and Press Releases

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MGM Resorts International

3600 Las Vegas Blvd S
Las Vegas, NV 89109-4303
Phone: 1 (702) 693-7120

Stats

  • Employer Type: Public
  • Chairman and CEO: James J. Murren
  • Chairman and CEO: James J. Murren
  • COO: Corey I. Sanders

Major Office Locations

  • Las Vegas, NV

Other Locations

  • Bullhead City, AZ
  • Beverly Hills, CA
  • Los Angeles, CA
  • Monterey Park, CA
  • San Gabriel, CA
  • Springfield, MA
  • Detroit, MI
  • Biloxi, MS
  • Robinsonville, MS
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