Overview

MGM Resorts International is a United States-based hospitality, casino, sports and entertainment company whose best-known properties include MGM Grand, Bellagio, Mandalay Bay, Park MGM and New York-New York. Its portfolio combines hotels, gaming floors, restaurants, bars, retail, theaters, convention facilities, nightlife, live entertainment and sporting events. The company is especially associated with the Las Vegas Strip, but its resort network also extends to regional casino markets in the United States and to Macau through MGM China. The company’s operating model has evolved from direct ownership and operation of large casino resorts toward a combination of resort management, branded entertainment, real-estate partnerships and asset-light arrangements. Its properties serve leisure travelers, convention groups, premium gaming customers and audiences for concerts and sports. MGM’s roots lie in the casino ventures of Kirk Kerkorian, who had acquired control of the Metro-Goldwyn-Mayer film studio and used the MGM name for a new generation of themed hotel-casinos. The original MGM Grand in Las Vegas opened in 1973, followed by MGM Grand Reno in 1978. The modern corporate lineage began in 1986, when a Tracinda subsidiary was created to retain rights to the MGM Grand name after Bally Manufacturing acquired the earlier MGM Grand Hotels business. The resulting MGM Grand, Inc. later expanded through major resort development and acquisitions. Its 1993 MGM Grand Las Vegas project established a large-scale entertainment-resort model, while the 1999 acquisition of Primadonna Resorts added New York-New York and other properties. In 2000, MGM Grand acquired Mirage Resorts, including Bellagio, Treasure Island and Mirage, and changed its name to MGM Mirage. The 2005 acquisition of Mandalay Resort Group added Mandalay Bay, Luxor, Excalibur, Circus Circus and other major assets, making the company one of the dominant operators on the Strip. During the 2000s, MGM pursued mixed-use development and international expansion. CityCenter, developed with Infinity World, represented a major shift toward integrated hotels, residences, retail and dining, but the project opened amid the global financial crisis and generated substantial valuation write-downs. MGM also entered Macau through a partnership with Pansy Ho, ultimately developing MGM Macau and later MGM Cotai. In 2010, MGM Mirage adopted the name MGM Resorts International to reflect its broader portfolio and international ambitions. In 2015, the company separated much of its real-estate ownership into MGM Growth Properties while retaining the operating business; MGM Growth Properties was subsequently acquired by VICI Properties in 2022. MGM has also expanded beyond conventional casino operations through online gaming, sports betting, digital entertainment and sports-event partnerships, including BetMGM, a joint venture with Entain. The company remains publicly traded on the New York Stock Exchange under the symbol MGM. Its present identity is built around globally recognizable resort brands, destination entertainment and increasingly diversified digital and sports offerings.

History

MGM Resorts International traces its corporate background to Kirk Kerkorian’s casino and entertainment investments. After acquiring control of Metro-Goldwyn-Mayer, Kerkorian used the MGM name for casino developments, including the original MGM Grand Hotel and Casino in Las Vegas, which opened in 1973, and MGM Grand Reno in 1978. The earlier MGM Grand Hotels business was sold to Bally Manufacturing in 1986, but Kerkorian retained rights to the MGM Grand name. A Tracinda subsidiary formed in 1986 was renamed MGM Grand, Inc. in 1987 and became the legal foundation of the present company. Its early activities included the short-lived MGM Grand Air airline and acquisitions of Las Vegas properties such as the Desert Inn and Sands. The company then concentrated on large destination resorts. MGM Grand Las Vegas opened in 1993 after a major redevelopment of the former Marina site. A joint venture with Primadonna Resorts produced New York-New York, which opened in 1997. MGM acquired Primadonna in 1999, gaining full control of New York-New York and additional Nevada properties. In 2000, MGM Grand acquired Mirage Resorts in a transaction valued at approximately $4.4 billion plus assumed debt. The deal added Bellagio, Mirage, Treasure Island, Beau Rivage and other assets. The company adopted the name MGM Mirage. It expanded again through the 2005 acquisition of Mandalay Resort Group, adding Mandalay Bay, Luxor, Excalibur, Circus Circus and other properties. Regulatory issues required the divestiture of Mandalay’s interest in MotorCity Casino in Detroit, while the Grand Victoria Casino in Illinois was placed under a temporary ownership structure during licensing review. MGM pursued international opportunities during this period, including unsuccessful or abandoned casino and online-gaming initiatives in the United Kingdom and an unsuccessful initial bid for a Macau gaming concession. It later entered Macau through a partnership with Pansy Ho. MGM Macau opened in 2007, followed by MGM Cotai in 2018. The company’s CityCenter project on the Las Vegas Strip, developed with Infinity World, opened in 2009. It combined Aria, Vdara, Mandarin Oriental, residential towers, retail and public spaces, but the project’s development coincided with the global financial crisis. MGM recorded major valuation write-downs and undertook debt restructuring and asset sales. In 2010, MGM Mirage became MGM Resorts International. In 2015, MGM separated a substantial portion of its real-estate assets into MGM Growth Properties while continuing to operate the resorts. The real-estate strategy later changed when VICI Properties acquired MGM Growth Properties in 2022. MGM has subsequently emphasized operating partnerships, branded hotel distribution, sports and entertainment, and digital gaming. BetMGM, created with Entain, became a major online gaming and sports-betting initiative in regulated jurisdictions. MGM also developed sports-related hospitality and entertainment through events and partnerships. The company’s portfolio now spans Las Vegas, regional United States casinos and Macau, while its brands and digital businesses reach customers beyond its owned or operated resorts.

2022
VICI Properties completes MGM Growth Properties acquisition
[10]VICI Properties completes MGM Growth Properties acquisitionviciproperties.com
VICI Properties acquired MGM Growth Properties, changing the ownership structure of significant MGM-related resort real estate.
2018
MGM Cotai opens
[9]MGM Cotai opensen.wikipedia.org
The company expanded its Macau presence with the opening of MGM Cotai.
2015
Real-estate ownership is separated
[4]MGM Growth Propertiesen.wikipedia.org
MGM Growth Properties was established to own selected resort real estate while MGM Resorts focused more heavily on operations.
2010
MGM Resorts International name adopted
[1]MGM Resorts Internationalen.wikipedia.org
MGM Mirage shareholders approved the company’s current name.
2009
CityCenter opens
[8]CityCenter opensen.wikipedia.org
The mixed-use CityCenter complex opened on the Las Vegas Strip during the global financial crisis.
2007
MGM Macau opens
[5]MGM Chinaen.wikipedia.org
MGM entered Macau resort gaming through MGM China, a partnership with Pansy Ho.
2005
Mandalay Resort Group acquisition closes
[1]MGM Resorts Internationalen.wikipedia.org
The acquisition substantially enlarged MGM’s Las Vegas portfolio and added major convention and resort assets.
2000
Mirage Resorts merger
[1]MGM Resorts Internationalen.wikipedia.org
MGM Grand acquired Mirage Resorts and changed its name to MGM Mirage.
1997
New York-New York opens
[7]New York-New York opensen.wikipedia.org
The New York-themed resort opened as a joint venture with Primadonna Resorts.
1993
MGM Grand Las Vegas opens
[1]MGM Resorts Internationalen.wikipedia.org
The large themed resort opened on the former Marina site after a multiyear redevelopment.
1987
Company becomes MGM Grand, Inc.
[1]MGM Resorts Internationalen.wikipedia.org
The company adopted the MGM Grand, Inc. name and began developing a new casino-resort platform.
1986
Modern corporate lineage is formed
[1]MGM Resorts Internationalen.wikipedia.org
A Tracinda subsidiary was established to hold rights to the MGM Grand name after the earlier MGM Grand Hotels business was sold.
1973
Original MGM Grand opens in Las Vegas
[1]MGM Resorts Internationalen.wikipedia.org
Kirk Kerkorian’s MGM-branded hotel-casino opened in Las Vegas and established the foundation for the later resort company.

Products and positioning

An internationally recognized destination-resort operator combining premium hospitality, casino gaming, dining, conventions, entertainment and sports.

Luxury casino resort · 1998
Bellagio
Bellagio is a luxury Las Vegas resort known for its casino, hotel rooms and suites, restaurants, retail, fine-art environment and the Fountains of Bellagio. It operates as one of MGM’s most internationally recognizable premium destinations and is closely associated with upscale hospitality and large-scale public entertainment.
Integrated casino resort · 1993
MGM Grand Las Vegas
MGM Grand Las Vegas is a large integrated resort offering hotel accommodation, casino gaming, restaurants, nightlife, meeting space, theaters and sports and entertainment venues. It is one of the company’s flagship MGM-branded properties and a major Las Vegas convention and leisure destination.
Integrated casino resort · 1999
Mandalay Bay
Mandalay Bay is a Las Vegas resort with hotel towers, casino operations, restaurants, convention facilities and entertainment venues. Its campus includes the Mandalay Bay Convention Center and is connected to other MGM properties in the southern Strip resort corridor.
Casino resort · 2018
Park MGM
Park MGM is a Las Vegas hotel and casino created through the rebranding and redevelopment of the former Monte Carlo resort. It includes convention and entertainment facilities and is connected to The Cosmopolitan area of the Strip through MGM’s broader resort network.
Themed casino resort · 1997
New York-New York
New York-New York is a themed Las Vegas resort designed around an architectural interpretation of New York City. In addition to hotel and casino facilities, the property includes restaurants, entertainment and a roller coaster, and it became part of MGM’s portfolio through the acquisition of Primadonna Resorts.
Luxury casino resort · 2009
Aria Resort & Casino
Aria is the principal casino resort within CityCenter. It combines hotel rooms and suites, gaming, restaurants, nightlife, convention facilities, entertainment and technology-oriented guest services in a contemporary luxury format.
Casino resort · 2007
MGM Macau
MGM Macau is an integrated resort in Macau operated through MGM China. It combines hotel accommodation, gaming, dining and entertainment and marked MGM’s entry into the Macau casino market.
Integrated casino resort · 2018
MGM Cotai
MGM Cotai is a large resort in Macau’s Cotai district with hotel, casino, dining, retail and entertainment components. It extends MGM China’s presence beyond the company’s original Macau peninsula property.
Online gaming and sports betting · 2018
BetMGM
BetMGM is MGM’s digital gaming brand, operated through a joint venture with Entain. It offers online casino gaming and sports betting in regulated jurisdictions where the relevant products are legally authorized.

Controversies

2023
Cyberattack disrupts MGM Resorts systems
A cyberattack disrupted selected hotel, reservation, payment and casino systems across MGM Resorts properties. The incident prompted operational disruption, public reporting and subsequent litigation and regulatory attention.
Source
2020
MGM Resorts sued over guest data breach
Morgan & Morgan filed a lawsuit against MGM Resorts over a data breach that reportedly involved details of more than 10.6 million hotel guests. The company had confirmed unauthorized access to a cloud server containing information for some previous guests.
Source
2020
MGM Resorts guest data breach exposed information online
Personal information belonging to more than 10.6 million former MGM Resorts hotel guests was leaked on a hacking forum. MGM Resorts said the leaked information came from unauthorized access to a cloud server discovered the previous summer, and said it had strengthened network security.
Source 1 Source 2
2019
MGM Resorts International agrees to $800 million settlement with Las Vegas massacre survivors
MGM Resorts International agreed to an $800 million settlement with more than 4,000 survivors of the 2017 massacre outside the Mandalay Bay casino. The settlement was reported as a resolution of claims brought by survivors of the incident. The event is noted as a controversy involving the company.
Source
2019
MGM Resorts agrees to settle Las Vegas shooting lawsuits
MGM Resorts International agreed to settle lawsuits brought by victims of the 2017 Las Vegas mass shooting. The expected payout was between $735 million and $800 million, depending on claimant participation. The settlement resolved litigation arising from the shooting, with the final amount contingent on how many claimants took part.
Source

Marketing campaigns

2024MGM Rewards and BetMGM digital integration
United States
MGM continued linking its resort loyalty ecosystem with digital gaming and sports-betting engagement through BetMGM and MGM Rewards.
Outcome. The strategy supported cross-channel customer acquisition between physical resorts and digital products.
Source
2023MGM Resorts and Marriott distribution partnership
United States
MGM and Marriott announced a partnership connecting selected MGM resorts with Marriott’s reservation and loyalty platforms while preserving MGM branding and operations.
Outcome. The arrangement broadened distribution and loyalty-program reach for participating Las Vegas properties.
Source
2009CityCenter launch
United States
MGM launched the CityCenter mixed-use resort complex as a major urban-style destination combining hotels, residences, retail, dining, art and entertainment on the Las Vegas Strip.
Outcome. The project opened during the financial crisis and became a major operating asset, although its development produced significant financial pressure and valuation write-downs.
Source

Brand decisions

2018
Open MGM CotaiProduct launch
Background
MGM sought to expand its Macau resort presence into the Cotai development corridor.
Action taken
MGM China opened MGM Cotai as a large integrated resort with lodging, gaming, dining, retail and entertainment.
Aftermath
The property became the second major MGM China resort in Macau.
Source
2018
Launch BetMGMStrategy
Background
MGM pursued regulated online gaming and sports betting as U.S. jurisdictions began liberalizing digital wagering.
Action taken
MGM and Entain established BetMGM as a digital gaming and sports-betting venture.
Aftermath
BetMGM became an important digital extension of MGM’s resort and entertainment ecosystem.
Source
2015
Separate resort real-estate ownership from operationsStrategy
Background
MGM sought to unlock value from its property portfolio and reduce the capital intensity of owning resort real estate.
Action taken
The company created MGM Growth Properties while MGM Resorts retained the operating business and long-term relationships with the properties.
Aftermath
The structure helped establish an asset-light direction; MGM Growth Properties was later acquired by VICI Properties.
Source
2005
Acquire Mandalay Resort GroupM&A
Background
MGM sought additional Strip scale, convention capacity and a broader range of resort price points.
Action taken
MGM Mirage completed the acquisition for approximately $7.9 billion, including assumed debt, after addressing regulatory ownership issues.
Aftermath
The deal added Mandalay Bay, Luxor, Excalibur, Circus Circus and other properties and materially strengthened MGM’s Las Vegas position.
Source
2000
Acquire Mirage ResortsM&A
Background
Mirage Resorts owned several high-profile destination resorts, including Bellagio and Mirage, while MGM sought greater scale on the Las Vegas Strip.
Action taken
MGM Grand agreed to acquire Mirage Resorts for approximately $4.4 billion plus assumed debt and adopted the MGM Mirage name.
Aftermath
The transaction created a much larger resort portfolio and made Bellagio and Mirage central MGM brands.
Source

Recent events

2023
MGM Resorts reports cyberattack affecting digital systems[3]MGM Resorts newsroommgmresorts.com
Other · Lawsuit
A cyber incident disrupted selected reservation, casino and hotel systems at MGM properties, leading to operational interruptions and subsequent legal and regulatory scrutiny.
2023
MGM Resorts and Marriott announce Las Vegas licensing and distribution partnership[3]MGM Resorts newsroommgmresorts.com
M&A
The companies announced a relationship intended to connect selected MGM properties with Marriott’s booking and loyalty ecosystem.
2020
BetMGM expands online sports betting and gaming operations[6]BetMGM corporate newsroombetmgminc.com
Product launch
MGM’s digital gaming venture with Entain expanded into additional regulated markets as online wagering became a larger part of the company’s strategy.
2010
MGM Mirage changes its name to MGM Resorts International[1]MGM Resorts Internationalen.wikipedia.org
Other
Shareholders approved a new corporate name reflecting the company’s broader hospitality and international strategy.
2000
MGM Grand, Inc. acquires Mirage Resorts and becomes MGM Mirage[1]MGM Resorts Internationalen.wikipedia.org
M&A
The transaction added Bellagio, Mirage, Treasure Island and other properties to MGM’s portfolio and created one of the largest casino-resort operators in the United States.