MGM Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

03
Price $30.48
Market Cap (MRQ) $7.67B
P/E (TTM) 18.4
EPS (TTM) $1.66
Revenue (TTM) $17.76B
ROE (TTM) 15.5%
Debt/Equity (MRQ) 2.4
52W Range $29–$52

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Feb. 28, 2000 2-for-1 Forward

About MGM Resorts International Common Stock Company overview from Wikipedia

05 · wikidata

MGM Resorts International is an American multinational hospitality, sports and entertainment company. It operates resorts in Las Vegas, Massachusetts, Michigan, Mississippi, Maryland, Ohio, New Jersey, Macau, Shanghai, Chengdu, Hangzhou and Sanya, including the Bellagio, Mandalay Bay, MGM Grand and Park MGM.

The company began operations in 1987 as MGM Grand, Inc. and became MGM Mirage in 2000, after acquiring Mirage Resorts. In the mid-2000s, growth of its non-gambling (lodging, food, retail) revenue began to outpace gambling receipts, and demand for high-rise condominiums was surging, with median property prices in Las Vegas twice the national average. The company shifted its focus from owning and operating resorts and casinos to developing and building real estate in the leisure and gambling industry—launching the massive CityCenter mixed-use project, which was at the time of its construction the world's largest construction site and ranks as one of the most expensive real estate projects in history. City Center's development coincided with the 2008 financial crisis, causing more than $1 billion in write-offs in its valuation.

Billionaire investor Kirk Kerkorian and his Tracinda Corporation were, until 2009, the majority shareholders of MGM Mirage; Kerkorian was the former owner of the Metro-Goldwyn-Mayer (MGM) movie studio, from which MGM Grand derived its name. Following a $1 billion stock offering by MGM Mirage amidst the global credit crunch, Tracinda's shares were diluted from 53.8% to 39%. On June 15, 2010, shareholders voted for MGM Mirage to change its name to "MGM Resorts International".

In 2015, the company split into two: MGM Growth Properties, a real estate company, and MGM Resorts, which shifted to operating properties. Today, MGM Resorts is the largest casino company in the world by revenue, making $13.13 billion USD in revenue in 2022.

History

Background and early ventures (1969–1988)

The company's background can be traced to 1969, when airline and casino tycoon Kirk Kerkorian bought a controlling stake in the Metro-Goldwyn-Mayer (MGM) film studio. In 1970 and 1971, Kerkorian struggled with debt from his acquisitions of MGM and Western Airlines, and was forced to sell a majority of his casino company, International Leisure, to Hilton Hotels at a steep discount. When the Las Vegas Hilton, the casino he had built, subsequently became the most successful hotel in Las Vegas, Kerkorian was inspired to lead the studio into the gambling industry. It opened the original MGM Grand Hotel and Casino (now Horseshoe Las Vegas) in 1973. The MGM Grand Reno followed in 1978.

By 1979, the two hotel-casinos accounted for most of MGM's income, and the company announced a plan to split itself in two. The next year, the film studio was spun off as a new company, while the original company, renamed as MGM Grand Hotels Inc., retained the two hotel-casinos. Kerkorian held a 47 percent stake in both companies.

In 1985, Kerkorian began seeking a buyer for MGM Grand Hotels, to allow him to concentrate on running United Artists and on developing new properties under the MGM Grand name. A deal was reached for Bally Manufacturing to buy the company; the deal closed in April 1986, and the two casinos were renamed under the Bally's brand. The terms of the sale allowed Kerkorian to retain rights to the MGM Grand name, and plans were announced to offer the stockholders of MGM Grand Hotels shares in a new company that would hold the naming rights.

The company now known as MGM Resorts International was formed in 1986 as Grand Name Co. as a subsidiary of Kerkorian's Tracinda Corporation. It was renamed in 1987 as MGM Grand, Inc.

The company's first venture was MGM Grand Air, a luxury airline offering service between New York and Los Angeles, which launched in September 1987. The company also made an offer to take over financially struggling Pan American World Airways, but this offer was rejected by Pan Am's board in November 1987.

In August 1987, MGM Grand bid $152 million for the bankrupt Dunes Hotel in Las Vegas, but was beat out by Japanese billionaire Masao Nangaku. Instead, the company acquired the Desert Inn and Sands casinos in February 1988 from Summa Corporation for $167 million. The Sands was sold to Sheldon Adelson's Interface Group for $110 million in April 1989.

First casino developments (1989–1999)

In September 1989, the company announced plans for a $700-million Hollywood-themed complex, including a 4,000-room hotel and a theme park. The Desert Inn site was initially considered as a location for the project, but within weeks the location was finalized as the Marina Hotel and Casino and the Tropicana Country Club, which MGM Grand acquired for $93 million plus $30 million in stock. The company put the Desert Inn up for sale to focus efforts on the new project, but found no outside bidders, and agreed to sell it to Tracinda for $130 million. Construction on the MGM Grand Las Vegas and the MGM Grand Adventures theme park began in October 1991, and the property opened in December 1993 at a final cost of $1 billion. The park permanently closed in 2002 due to a lack of interest.

The company moved its headquarters from Beverly Hills to Las Vegas in July 1992.

During construction of the MGM Grand, the company acquired an option to buy an 18-acre site across the street from the project. Gary Primm of Primadonna Resorts approached MGM president Bob Maxey in 1994 with an idea for the site: a casino recreating the New York skyline. A joint venture was formed between the two companies, and construction began in March 1995. Completed at a cost of $460 million, the New York-New York Hotel and Casino opened in January 1997.

With New York-New York under development, MGM Grand made moves to expand in several other markets. An exploratory agreement to develop two casinos on the Chinese island of Hainan was announced in August 1994, but came to nothing. In Darwin, Australia, a lucrative market attracting high rollers from Pacific Rim countries, the company considered building a hotel, but instead bought the Diamond Beach Hotel and Casino, renaming it as the MGM Grand Darwin. MGM announced plans for an Atlantic City casino in July 1996. In Michigan, where voters approved casinos in November 1996, MGM made plans for a bid on one of the three available gambling licenses, which would eventually be approved and open in July 1999 as the MGM Grand Detroit.

In South Africa, with casino gambling newly authorized, MGM announced plans in August 1996 to develop 15 properties in conjunction with Tsogo Sun. The first, a temporary casino in Johannesburg's Sundome, opened in October 1998. Three more casinos followed before MGM agreed to sell out its interest in the properties to Tsogo Sun in November 2001.

Since the initiation of New York-New York, analysts had speculated that MGM Grand or Primadonna would buy out the other's interest in the project. Instead of making such a cash-intensive purchase, however, MGM agreed to buy Primadonna outright for $276 million in stock plus $336 million in assumed debt. The merger closed in March 1999, giving MGM ownership of three casinos and two golf courses at the Nevada–California state line, in addition to full control of New York-New York.

Mirage Resorts merger (2000)

In February 2000, MGM Grand made an unsolicited offer of $17 a share to buy Mirage Resorts, which had floundered due to disappointing results at its new Beau Rivage and Bellagio resorts. Analysts expected a protracted battle, with Mirage founder Steve Wynn seen as unwilling to give up control but under pressure from institutional investors. Mirage rejected the offer, but Wynn met with Kerkorian the next day and named a price of $21 a share. The companies agreed on the higher price, for a total of $4.4 billion plus $2 billion in assumed debt. The merger closed in May 2000, giving MGM ownership of the Mirage, Treasure Island, Bellagio, Boardwalk, and Golden Nugget casinos in Las Vegas, the Golden Nugget in Laughlin, and the Beau Rivage in Mississippi, and a half share of the Monte Carlo. The company changed its name to MGM Mirage in August 2000. Mirage had also owned a half stake in the Borgata, a planned casino in Atlantic City, in a joint venture managed by Boyd Gaming. Work on the Borgata continued apace, and it would open in July 2003.

Stalled developments (2001–2004)

In 2001 and 2002, following the merger with Mirage, the company explored options for its next major development project, including in the Las Vegas, Atlantic City, Chicago, and Macau markets. The 55-acre site of the Boardwalk casino on the Las Vegas Strip was earmarked for a technologically advanced megaresort targeting a Generation X demographic. In Atlantic City, MGM shifted focus from its previously announced boardwalk site to a proposed billion-dollar hotel and casino on a 55-acre tract adjacent to the Borgata, where Wynn had planned to build the Le Jardin casino. In the Chicago market, MGM agreed to pay $600 million to buy the unfinished Emerald Casino in Rosemont, Illinois, whose investors had been accused of ties to organized crime. The deal was rejected, however, by state gambling regulators, and MGM then backed off its effort, saying that Illinois's casino tax was too high. In Macau, where Stanley Ho's 40-year government-granted monopoly on gambling was coming to an end, MGM submitted a bid for one of three available gambling concessions, but it was not selected, losing out to Ho, Las Vegas Sands, and Wynn Resorts.

MGM made moves into the United Kingdom market after a 2001 government report called for loosening of the country's gambling regulations. It opened an online casino, playmgmmirage.com, licensed in the Isle of Man, a British dependency, and it applied for a license to run an online sports betting site in the U.K. It acquired a twenty-five percent stake in a company developing the small Triangle Casino in Bristol, which went on to open its doors in February 2004. It signed deals to build casinos at the Olympia Exhibition Centre in London, St James' Park in Newcastle, Meadowhall Shopping Centre in Sheffield, the National Exhibition Centre in Birmingham, Sportcity in Manchester, Glasgow Harbour, King's Waterfront in Liverpool, and at a proposed stadium in Salford. The company also signed a $490-million deal to acquire Wembley plc, owner of seven greyhound tracks in Britain and four in the United States.

The British expansion plans ultimately amounted to nothing. MGM closed its online casino after less than two years, citing uncertainty in American regulations and competition from established British brands. The Wembley acquisition turned into a bidding war, with MGM finally losing out to an investors group including Kerzner International. The Triangle Casino was sold off to Stanley Leisure in 2006. The company's other development plans were scuttled as the government scaled down, and eventually abandoned, the plan to allow large "super-casinos".

In 2004, the company disposed of some of its smaller properties, selling the two Golden Nugget casinos (Golden Nugget Las Vegas and Golden Nugget Laughlin) to Poster Financial Group for $215 million, and the MGM Grand Darwin to Skycity Entertainment for $140 million.

Mandalay merger (2004–2005)

MGM entered into quiet merger talks with Mandalay Resort Group in early 2004. The potential acquisition would give MGM control of more than half the hotel rooms on the Las Vegas Strip. Mandalay assets attractive to MGM included low-end casinos like Excalibur and Circus Circus to broaden MGM's "high roller" appeal; the Mandalay Bay Convention Center, which would allow MGM to compete directly with the Sands Expo center in the convention market; and at least two prime developable sites on the Strip. The talks went public in June, when MGM announced an offer worth $7.65 billion. Mandalay rejected that offer because of a clause allowing MGM to back out if antitrust regulators demanded the sale of any properties. Analysts speculated that another bidder such as Harrah's or Boyd might enter, but none did, and MGM and Mandalay soon agreed on a $7.9 billion deal.

MGM executives were confident that antitrust regulators would not require the sale of any of the two companies' properties. Michigan law, however, forbade one company from owning multiple casinos, requiring the sale of either the MGM Grand Detroit or Mandalay's 54 percent stake in the MotorCity Casino. After some vacillation about which property to sell, Mandalay accepted a $525-million offer for its interest in MotorCity from Marian Ilitch, the casino's second largest shareholder. Meanwhile, in Illinois, where MGM needed regulatory approval to take over Mandalay's 50 percent interest in the Grand Victoria Casino, a lack of quorum on the state Gaming Board threatened to delay the merger. MGM considered a sale to the casino's other owner, the Pritzker family, but ultimately gained approval for a plan to place the property under control of a trustee until completion of the licensing process. The FTC approved the merger as predicted, and MGM obtained a $7 billion line of credit to finance it. The sale closed on April 25, 2005 for a total of $7.9 billion, including $3 billion in assumed debt.

The Mandalay acquisition made MGM Mirage the largest gambling company in the world, but it was surpassed just two months later when Harrah's Entertainment acquired Caesars Entertainment in a deal that had been spurred on by news of the MGM-Mandalay merger.

Later developments (2004–2006)

Despite MGM's initial failure to win a gambling concession in Macau, the company had remained interested in the burgeoning gambling market. Rumors of a possible partnership with Stanley Ho were reported in 2003, but Nevada gambling regulators informally vetoed the idea because of the alleged involvement of organized crime triads in his casinos. Another possibility emerged when the government allowed the three gaming concessionaires to each sell a sub-concession. In June 2004, MGM formed a joint venture with Pansy Ho, Stanley's daughter, to develop a casino-hotel under a sub-concession from Stanley. Despite initial concerns about whether Pansy Ho was subject to her father's influence, the Nevada Gaming Commission eventually approved the partnership. Construction of the MGM Grand Macau began in June 2005. The property opened in December 2007, completed at a cost of $1.25 billion.

In 2004, MGM solidified its plans for the Boardwalk site on the Strip, announcing Project CityCenter, an $8-billion high-density project including hotels, condominiums, a casino, and a shopping mall. The Boardwalk was closed in January 2006 to make way for the redevelopment, and CityCenter construction began the following June.

Singapore emerged in 2004 as the next major new Asian gambling market, calling for proposals to build two "integrated resort" casinos at Marina Bay and the island of Sentosa. MGM partnered with CapitaLand in an estimated $3 billion bid for the Marina Bay site. Their bid advanced to the final stage against three competitors, and was seen as the favorite to win. The government awarded the license, however, to Las Vegas Sands, citing its strength in the meetings and conventions sector.

In 2007, MGM Mirage disposed of some outlying properties in Southern Nevada. The two Laughlin casinos (the Colorado Belle and Edgewater) were sold for $200 million, the Primm Valley Resorts were sold for $400 million, and the Nevada Landing Hotel and Casino was closed.

Dubai World investment (2007–2009)

On April 19, 2007 the company announced that it planned to purchase a 7.6-acre (31,000 m2) site from Concord Wilshire Partners for $130 million and a 25.8-acre (104,000 m2) site from Gordon Gaming for $444 million. The two parcels give the company complete control of the southwest corner of the Sahara and Las Vegas Boulevard intersection. When combined with underused parts of the Circus Circus site, the company will have a 68-acre (280,000 m2) site for future development. The Concord site had been the proposed location for the Maxim Casino.

On August 22, 2007, Dubai World said it would buy a 9.5 percent stake in MGM for about $2.4 billion. It would also invest about $2.7 billion to acquire a 50 percent stake in MGM's CityCenter project. Dubai World would pay MGM Mirage an additional $100 million if the project opened on time and on budget. The investment firm would buy 14.2 million shares from MGM Mirage. The firm would also issue a public tender for an additional 14.2 million shares at the same price.

In October 2008, MGM Mirage halted a $5 billion Atlantic City project on land next to the Borgata.

At about the same time, New Jersey gambling regulators were evaluating MGM Mirage's suitability to operate casinos in New Jersey, and were unconvinced that MGM Mirage's Macau partner, Pansy Ho, could operate independently from influence of her father, Stanley Ho. The latter was often accused of ties with Chinese organized crime and letting the gangs operate in his casinos' VIP rooms. Faced with not complying with New Jersey gambling regulations, MGM Mirage decided to divest the highly profitable Borgata in order to continue pursuing the even more lucrative Chinese market. MGM Mirage subsequently transferred its 50% share in the Borgata to a divestiture trust through which it received all benefit of the ownership. The trust was responsible for selling MGM's interest within 30 months, although MGM had the right to direct the trustee during the first 18 months.

In December 2008, MGM Mirage announced the sale of its Las Vegas Treasure Island resort and casino to billionaire Phil Ruffin. The sale was completed on March 20, 2009 for $600 million in cash plus a $175 million promissory note.

In March 2009, Dubai World and Infinity World announced that they had filed a lawsuit in the Delaware Chancery Court seeking to be released from their CityCenter joint venture agreement with MGM Mirage after the company filed its annual report stating that "there is substantial doubt about our ability to continue as a going concern," and "it cannot provide assurance that its business would generate sufficient cash flow from operation."

Starting in April 2009, news reports surfaced that MGM Mirage had hired investment firm Morgan Stanley to assist the company in finding possible buyers for the MGM Grand Detroit and the Beau Rivage.

Name change and recent years (2010–present)

In June 2010, MGM Mirage changed its name to "MGM Resorts International", to emphasize the brand's global scope and increased non-gambling strategy.

In May 2011, an initial public offering was held for the MGM Macau property through a new holding company, MGM China. MGM retained a 51 percent interest in the company, with Pansy Ho holding a 29 percent stake, and 20 percent sold to public investors for $1.5 billion. In January 2013, MGM China received government approval to build its second resort in Macau.

In 2013, MGM won state licenses to build a $1-billion resort in National Harbor, Maryland and a $950-million resort in downtown Springfield, Massachusetts.

In May 2014, the company broke ground on the $375-million T-Mobile Arena located behind New-New York Hotel and Casino, in partnership with AEG Live. The arena opened on April 6, 2016.

MGM sold several properties in 2015, including the Railroad Pass Casino, the Gold Strike, and properties in Reno (Circus Circus Reno and a 50 percent stake in the Silver Legacy) were sold to Eldorado Resorts for $72.5 million.

In April 2016, MGM sold The Shops at Crystals, the high-end mall in CityCenter, to Invesco Real Estate and Simon Property Group for $1.1 billion.

In April 2016, MGM held an initial public offering for MGM Growth Properties (MGP), a new real estate investment trust (REIT) with ownership of ten of the company's casinos; the parent company would continue to operate the casinos under a lease agreement. The offering raised $1.05 billion, and left MGM Resorts with 76 percent ownership of the REIT. In June 2016, MGM announced a joint venture with Sydell Group to renovate and rebrand the Monte Carlo as the Park MGM, named after the adjacent dining and entertainment district, The Park, that opened in April 2016. In August 2016, MGM bought out Boyd Gaming's interest in the Borgata for $900 million, and then sold the property to MGP for $1.2 billion and leased it back for $100 million per year.

In 2017, MGM launched two online ventures under the PlayMGM brand: an online sportsbook in Nevada, and an online casino in New Jersey.

In October 2017, MGM purchased the San Antonio Stars of the Women's National Basketball Association. The team was moved to Mandalay Bay Events Center and began play as the Las Vegas Aces in 2018. In August 2018, MGM and Hyatt sold the Grand Victoria Casino to Eldorado Resorts for $328 million. In January 2019, MGM bought Yonkers Raceway and Empire City Casino in New York from the Rooney family for $850 million, and then immediately sold the land and buildings to MGP for $625 million, and leased them back for $50 million per year. MGM Resorts is bidding to secure a full casino license for their Empire City Casino which would allow for table games. If awarded a casino license, they will also expand the casino and add new amenities. The community advisory committee voted 5-0 in favor of the proposed development on September 25, 2025. This vote advances MGM’s bid to be considered for a full casino license in New York.

In 2019, MGM sold two resorts on the Las Vegas strip: Bellagio and Circus Circus. They sold their real estate assets of Bellagio to Blackstone Group while selling Circus Circus to Phil Ruffin. In 2020, they sold their real estate assets of MGM Grand and Mandalay Bay to a joint venture between Blackstone and MGP.

In 2021, MGM bought 50% of Dubai World's share of CityCenter and sold the real estate assets of Aria and Vdara to Blackstone and later purchased the operating assets of Cosmopolitan of Las Vegas and later sold the Mirage to Hard Rock International. Also in 2021, MGM would sell the Las Vegas Aces to Mark Davis, owner of the Las Vegas Raiders.

MGM is looking to secure a casino license in the United Arab Emirates in order to operate a casino at their upcoming property in Dubai which is set to open in 2028. So far, only Wynn Resorts has secured a gambling license in the country.

Response to the COVID-19 pandemic

In August 2020, MGM cut 18,000 job positions as a result of the effects of the COVID-19 pandemic. The job cuts represent one fourth of its workforce, which before the start of the pandemic was 68,000.

Attempts to block tribal casino developments

MGM lobbied the Trump administration against giving federal approval for a casino operated by two native tribes in East Windsor, Connecticut. The casino would have provided competition to a MGM casino across the border in Massachusetts.

Marriott partnership

In July 2023, MGM Resorts announced an agreement with Marriott International to bring its 17 properties within Marriott's global reservations system and its Bonvoy loyalty program, creating the MGM Collection With Marriott Bonvoy. The new partnership will see four of MGM's properties fully affiliated with Marriott brands beginning in late 2023. The Bellagio will join The Luxury Collection division of Marriott, the Park MGM will join Marriott's Tribute Portfolio, and the Aria will join Marriott's Autograph Collection, which The Cosmopolitan has been a member of since its opening.

Cyber attacks

A data breach in 2019 affected 10.6 million previous customers, with about 1300 individual's having identification numbers exposed.In September 2023, MGM's hotel and casino operations were disrupted for several days during a cybersecurity attack by the hacking group Scattered Spider. The company refused to pay a ransom to the hackers, and stated that its losses of $100 million would be covered by cyber insurance. As a result of the cyberattack, multiple class action lawsuits were filed against MGM Resorts as well as Caesars Entertainment, which Scattered Spider had hacked into during the same month, with all stating that the failure for both of the casino operators to adequately secure their data constituted breach of contract. Hackers Scattered Spider later formed a cybercrime collective with ShinyHunters and Lapsus$ in 2025.

Both the 2019 and 2023 class action lawsuits were settled together for $45 million on June 18, 2025.

Escape Solar + Storage

In September 2024, the company contracted with Escape Solar for the Escape Solar + Storage project, to be operated by Estuary Power. The $340 million solar facility will help power Las Vegas Strip casinos, with more than 60% of its battery energy storage planned for MGM Resorts International casinos.

MGM Osaka

In April 2025, MGM Resorts broke ground on MGM Osaka, which will be the first integrated resort and casino in Japan. It is set to open in 2030.

NGCB fine

Nevada Gaming Control Board (NGCB) unanimously voted, on April 24, 2025, to levy a fine of $8.5 million on the company for having allowed two illegal bookmakers to gamble at MGM Grand and The Cosmopolitan. The investigation implicated former MGM Grand president Scott Sibella, as facilitating the fraud, between 2017 and 2020. Sibella's gambling license was revoked by the Nevada Gaming Commission on December 19, 2024.

Buyout Offer From People Inc.

In June 2026, People Inc., led by Barry Diller, offered to buy the remainder of MGM Resorts it doesn't own in a deal valuing the business at more than $18 billion. People Inc. currently owns 26.1% of the company.

MGM Hospitality

In 2007, MGM Hospitality was established to operate hotels, resorts and residences in key destinations around the globe using the brands of Bellagio, MGM Grand and Skylofts.

In 2009, the company formed Diaoyutai MGM Hospitality, a joint venture with Diaoyutai State Guesthouse of China (the Chinese Foreign Ministry's venue for VIPs) which develops and operates 5-star hotels and resorts in China. The joint venture ended in 2026 when Diaoyutai sold its stake to MGM.

In April 2013, Hakkasan Las Vegas at the MGM Grand opened its 80,000-square-foot venue on five levels. In 2014, MGM and Hakkasan Group announced the formation of a joint venture named MGM Hakkasan Hospitality, which would develop non-gambling hotels around the world. The partnership was terminated a year later.

BetMGM

Following the U.S. Supreme Court's May 2018 ruling that struck down the PASPA sports betting ban, in July 2018, MGM announced a 50/50 joint venture with UK gambling operator GVC Holdings (now known as Entain) to create a sports betting and online gambling platform targeting the U.S. market in states where such activities are legal. In January 2019, the joint venture was named Roar Digital.

In September 2019, the company announced a partnership with sports bar chain restaurant Buffalo Wild Wings. The partnership will involve Buffalo Wild Wings sports bars across the country showcasing custom sportsbook content on TV screens inside the bars, featuring live odds provided by BetMGM, as well as the establishment of three new Buffalo Wild Wings sports bars within MGM properties or in partnership with BetMGM as additional states come online. At the end of October 2019, the company established a betting partnership with Yahoo Sports to connect its sports betting online platform to the popular sports website.

In late 2018, BetMGM signed official partnerships with several North American professional sports leagues, including the National Basketball Association, the National Hockey League, and Major League Baseball. In July 2020, BetMGM announced a partnership with the Denver Broncos of the National Football League. BetMGM would follow this deal with multiple betting partnerships with other NFL teams, including the Detroit Lions, Las Vegas Raiders, Tennessee Titans, and Pittsburgh Steelers. In late 2020 through early 2021, BetMGM continued to develop its partnership library with other teams in other leagues, including the Detroit Red Wings of the NHL, Washington Nationals of MLB, and Philadelphia 76ers of the NBA, as well as with other business ventures like TopGolf to extend the company's brand image to new bettors in operating markets. In May 2021, BetMGM signed a deal with the Baltimore Ravens to become the official gaming partner of the NFL team.

In November 2021, BetMGM, along with 8 other sports gambling operators, were awarded sports betting licenses by the New York State Gaming Commission. New York will be the largest sports gambling market in the United States when operators launch their applications in 2022. Additionally, on the same day, BetMGM agreed to a multi-year marketing partnership with Madison Square Garden Sports and will become an official sports gambling sponsor for both the New York Knicks of the NBA and New York Rangers of the NHL.

In 2021, BetMGM became a sponsor for the NASCAR Cup Series team Richard Childress Racing, serving as the main sponsor for the No.8 car of Kyle Busch for select races. In 2024, BetMGM and RCR announced that they had renewed their agreement. Also in 2024, BetMGM became the title sponsor of the NASCAR Xfinity Series spring race at Charlotte Motor Speedway.

In September 2022, BetMGM entered into a naming rights agreement with NJ Transit to becoming the naming sponsor of the Meadowlands Rail Line for $3 million over the next 3 years. The rail line is a special event shuttle train that offers rail service to and from MetLife Stadium only during New York Giants and New York Jets home football games, as well as major concerts and other sporting events.

In January 2024, it was announced that BetMGM would become the new title sponsor of the PDC Premier League Darts for the 2024 season.

In January 2024, BetMGM became a partner for X (formerly Twitter), this partnership would bring gambling features to the platform.

In July 2024, BetMGM announced they were partnering with English Premier League football club Tottenham Hotspur to become the sponsor for their training kit starting with the 2024-25 season.

MGM Resorts International properties

All U.S. properties (excluding golf courses and where otherwise indicated) are fully owned by Vici Properties and operated by MGM through a long-term triple net lease agreement.

Las Vegas Strip

Bellagio (leased from The Blackstone Group)

The Cosmopolitan of Las Vegas (leased from Blackstone, Cherng Family Trust, and Stonepeak Partners)

Aria Campus (formerly CityCenter) (leased from Blackstone)

Aria Resort & Casino

Vdara

Park MGM

NoMad Las Vegas

New York-New York

T-Mobile Arena (42.5% ownership of building; land is leased from Vici)

MGM Grand Las Vegas

MGM Grand Garden Arena

Skylofts at MGM Grand

The Mansion at MGM Grand

The Signature at MGM Grand

Excalibur

Luxor

Mandalay Bay

W Las Vegas

Mandalay Bay Convention Center

Michelob Ultra Arena

Other properties in the U.S.

Beau Rivage – Biloxi, Mississippi

Borgata – Atlantic City, New Jersey

MGM Grand Detroit – Detroit, Michigan (98% ownership stake)

MGM National Harbor – National Harbor, Maryland

MGM Springfield – Springfield, Massachusetts

Yonkers Raceway & Empire City Casino – Yonkers, New York

Fallen Oak Golf Course – Saucier, Mississippi

Shadow Creek Golf Course – Las Vegas, Nevada

China

MGM China – Macau, China (56% ownership stake)

MGM Cotai – Cotai

MGM Macau – Sé

MGM Hospitality Group (Asia Pacific) – Mainland China

Bellagio Shanghai – Shanghai

MGM Grand Sanya – Sanya

MGM Qingdao – Qingdao

MGM Reserve Qingdao – Qingdao

Mhub by MGM Nanjing Jiangning – Nanjing

MGM Shanghai West Bund – Shanghai

MGM Shenzhen – Shenzhen

MGM Reserve Zhuhai – Zhuhai

Japan

Tokyo

MGM Osaka

United Arab Emirates

MGM Dubai

Aria Dubai

Bellagio Dubai

Former properties

Boardwalk Hotel and Casino – Las Vegas, Nevada

Circus Circus Las Vegas

Adventuredome

Slots-A-Fun Casino

Circus Circus – Reno, Nevada

Colorado Belle – Laughlin, Nevada

Desert Inn

Edgewater – Laughlin, Nevada

Gold Strike Tunica – Tunica Resorts, Mississippi

Gold Strike Hotel and Gambling Hall – Jean, Nevada

Golden Nugget Las Vegas

Golden Nugget Laughlin

Grand Victoria Casino Elgin – Elgin, Illinois (50% joint venture with Hyatt)

Mandarin Oriental, Las Vegas

MGM Grand Adventures Theme Park

MGM Grand Air

MGM Grand Darwin – Darwin, Northern Territory, Australia

MGM Grand at Foxwoods – Ledyard, Connecticut

MGM Grand Ho Tram Strip – Hồ Tràm, Xuyên Mộc, Vietnam

MGM Northfield Park – Northfield, Ohio

The Mirage – Las Vegas, Nevada

Nevada Landing Hotel and Casino – Jean, Nevada

Primm Valley Golf Club – Nipton, California

Primm Valley Resorts

Railroad Pass – Henderson, Nevada

Sands Hotel and Casino

Silver Legacy – Reno, Nevada (50% owner in partnership with Eldorado Resorts)

The Shops at Crystals

Treasure Island Hotel and Casino – Las Vegas, Nevada

Las Vegas Festival Grounds

Las Vegas Village

MGM International Aviation

The MGM Resorts International Aviation fleet comprises five aircraft (as of March 2020):

Staff and management

The company's top executives include: Grant Leingang, president; James Murren, chairman and chief executive officer; Bill Hornbuckle, president of global casino marketing; Brian Sandoval, president of global gambling development; Corey I. Sanders, chief operating officer; and John McManus, executive vice president, general counsel and secretary. MGM Resorts International's board of directors include chairman Paul Salem, president and CEO BillHornbuckle, NBCUniversal Entertainment chairman Donna Langley, former IHG Hotels & Resorts CEO and current CarMax president and CEO Keith Barr, and IAC chairman Barry Diller.

As of 2015, according to the company, among the company's management ranks, more than 38 percent are minorities and nearly 43 percent are women. The company has received wide recognition for its diversity and inclusion initiatives, such as: 40 Best Companies for Diversity (Black Enterprise Magazine), Top 10 Companies for Latinos (DiversityInc Magazine), Best Places to Work for LGBT Equality (Human Rights Campaign Foundation), Top 10 Regional Companies(DiversityInc) and Top Corporation for Women's Business Enterprises (Women's Business Enterprise National Council). Fortune magazine named MGM Resorts one of the World's Most Admired Companies in 2017.

Controversy

MGM Resorts International received criticism for filing a lawsuit on July 18, 2018, against survivors and relatives of victims slain in the October 1, 2017 Las Vegas shooting. MGM has claimed that, because it utilized the security services of Contemporary Services Corporation, a vendor certified by the Department of Homeland Security at the time of the October 1 shooting, any proceedings should be held in federal court where MGM is shielded from liability by the Support Anti-Terrorism by Fostering Effective Technologies Act, also known as the Safety Act. MGM said they are insured for $751 million towards the settlement of the lawsuit which MGM believes will be settled in May 2020. Robert Englet, an attorney to some of the survivors, describes the countersuit as an attempt to get a more favorable judge. Brian Claypool, another attorney of the survivors', called the lawsuits a "public relations nightmare". MGM's controversial action prompted a public outcry from survivors of the shooting, family members of the victims, lawmakers, and media members in New York State urging the New York State Gaming Commission to block MGM from completing its $850 million deal to purchase Empire City Casino and Yonkers Raceway in Yonkers, New York, which deal had been scheduled to close in January 2019. In October 2019, MGM agreed to pay victims and survivors up to $800 million.

MGM Resorts International was the first casino company to charge parking fees for parking at casinos on the Las Vegas Strip, in June 2016. Shortly after, other casinos followed suit.

Awards and recognition

The company continues to receive wide recognition for its diversity and inclusion initiatives, such as: 40 Best Companies for Diversity (Black Enterprise Magazine) in 2012, Best Places to Work for LGBT Equality (Human Rights Campaign Foundation) in 2013, Top 10 Regional Companies (DiversityInc) in 2014, Top 10 Companies for Latinos (DiversityInc Magazine), and top 100 Companies for MBA Students (Universum Global) in 2014. Fortune has named MGM Resorts one of the World's Most Admired Companies.

Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗

Wikidata ↗

sectorConsumer Discretionary industryHotels, Restaurants & Leisure employees60,000 countryUS

10-Year Performance Revenue, net income, margins and EPS trends

06
Revenue$17.54B
2016-12-31 → 2025-12-31
EPS$0.76
2016-12-31 → 2025-12-31
Free Cash Flow$1.46B
2016-12-31 → 2025-12-31
Net margin2.4%
2016-12-31 → 2025-12-31
Valuation & Ratios 07–12

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Metric 5Y trend MGM 5Y avg Peer Median Verdict
P/E (TTM) 18.45Y avg ≈20.9 ≈20.9 23.1 Overvalued
P/S (TTM) 0.45Y avg ≈1.0 ≈1.0 1.4 Undervalued
P/B (MRQ) 3.15Y avg ≈3.4 ≈3.4 3.7 Pricier
EV / EBITDA 11.95Y avg ≈11.2 ≈11.2 16.2 Undervalued
Price / FCF (TTM) 5.15Y avg ≈11.8 ≈11.8 · ·
Price / Cash Flow (TTM) 3.15Y avg ≈7.1 ≈7.1 9.3 Undervalued
EV / Revenue 0.75Y avg ≈1.4 ≈1.4 · ·
EV / FCF 8.25Y avg ≈15.8 ≈15.8 · ·
Price / Tangible Book (MRQ) 6.1 · · ·

Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.

value · ≈ 5Y avg · industry median · verdict relative to median

Dividends Yield, payout ratio, dividend history, 5Y CAGR

13
Annualized Payout≈$0.01Paid quarterly
Ex-dateAmountCurrencyYield
Dec 8, 2022$0.00USD≈0.03%
Sep 8, 2022$0.00USD≈0.04%
Jun 9, 2022$0.00USD≈0.03%
Mar 9, 2022$0.00USD≈0.03%
Dec 9, 2021$0.00USD≈0.03%
Sep 9, 2021$0.00USD≈0.03%
Jun 9, 2021$0.00USD≈0.03%
Mar 9, 2021$0.00USD≈0.03%
Dec 9, 2020$0.00USD≈0.53%
Sep 9, 2020$0.00USD≈1.2%
Jun 9, 2020$0.00USD≈1.9%
Mar 9, 2020$0.15USD≈3.0%
Dec 9, 2019$0.13USD≈1.6%
Sep 9, 2019$0.13USD≈1.8%
Jun 7, 2019$0.13USD≈1.9%
Mar 7, 2019$0.13USD≈1.9%
Dec 7, 2018$0.12USD≈1.8%
Sep 7, 2018$0.12USD≈1.8%
Jun 7, 2018$0.12USD≈1.5%
Mar 8, 2018$0.12USD≈1.3%

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

14
Avg Surprise 7.8%
Next Report Oct 27, 2026
PeriodReportEPS ActualEPS EstSurprise
June 30, 2026 Jul 28, 2026 $0.59 $0.58 1.9%
March 31, 2026 $0.49 $0.54 -9.2%
Dec. 31, 2025 $0.57 $0.57 -0.21%
Sept. 30, 2025 $0.24 $0.40 -40.2%
June 30, 2025 $0.79 $0.54 47.4%
March 31, 2025 $0.69 $0.47 47.1%

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

15
Income Statement 14
Metric Trend 202520242023202220212020201920182017201620152014
Revenue $17.54B$17.24B$16.16B$13.13B$9.68B$5.16B$12.90B$11.76B$10.80B$9.48B$9.19B$10.08B
SG&A Expense $4.88B$4.83B$4.70B$4.23B$2.51B$2.12B$2.10B$1.76B$1.56B$1.38B$1.31B$1.32B
Operating Expenses $16.61B$15.66B$14.21B$11.53B$7.49B$5.85B$9.08B$10.44B$9.23B$7.93B$9.60B$8.82B
Operating Income $1.00B$1.49B$1.89B$1.44B$2.28B$-642M$3.94B$1.47B$1.71B$2.08B$-156M$1.32B
Interest Expense ··$460M$595M$800M$676M$848M$770M$669M$695M$798M$817M
Other Non-op $-303M$71M$43M$83M$66M$-89M$-183M$-18M$-48M$-73M$-16M$-8M
Pretax Income $281M$1.12B$1.47B$904M$1.46B$-1.51B$2.85B$634M$961M$1.26B$-1.05B$411M
Income Tax $-240M$52M$158M$697M$253M$-192M$632M$50M$-1.13B$22M$-7M$284M
Net Income $206M$747M$1.14B$1.47B$1.25B$-1.03B$2.05B$467M$1.95B$1.10B$-448M$-150M
EPS (Basic) $0.77$2.42$3.22$3.52$2.44$-2.02$3.90$0.82$3.38$1.94$-0.82$-0.31
EPS (Diluted) $0.76$2.40$3.19$3.49$2.41$-2.02$3.88$0.81$3.34$1.92$-0.82$-0.31
Shares (Basic) 275,046,000307,408,000354,926,000409,201,000481,930,000494,152,000524,173,000544,253,000572,253,000568,134,000542,873,000490,875,000
Shares (Diluted) 277,275,000310,232,000358,627,000412,993,000487,356,000494,152,000527,645,000549,536,000578,795,000573,317,000542,873,000490,875,000
EBITDA $1.00B$1.49B$1.89B$1.44B$2.28B$-642M$3.94B$1.47B$1.72B$2.08B$-156M$1.32B
Balance Sheet 27
Metric Trend 202520242023202220212020201920182017201620152014
Cash & Equivalents $2.06B$2.42B$2.93B$5.91B$4.70B$5.10B$2.33B$1.53B$1.50B$1.45B$1.67B$1.71B
Receivables $1.12B$1.07B$929M$852M$584M$317M$613M$657M$542M$543M$481M$473M
Inventory $125M$141M$142M$126M$96M$88M$103M$111M$102M$98M$104M$104M
Prepaid Expense $486M$479M$771M$583M$259M$201M$200M$204M$189M$142M$138M$151M
Current Assets $4.33B$4.36B$4.91B$8.15B$6.42B$5.95B$4.01B$2.53B$2.38B$2.23B$2.41B$3.03B
PP&E (Net) ·$6.20B$5.45B$5.22B$14.44B$14.63B$18.29B$20.73B$19.64B$18.43B$15.37B$14.44B
PP&E (Gross) $12.18B$11.54B$10.54B$9.99B$22.46B$21.91B$26.77B$29.75B$27.89B$25.99B$22.31B$20.97B
Accum. Depreciation $6.11B$5.64B$5.18B$4.91B$8.18B$7.47B$8.58B$9.02B$8.25B$7.57B$6.94B$6.53B
Goodwill $4.90B$5.15B$5.17B$5.03B$3.48B$2.09B$2.08B$1.82B$1.81B$1.82B$1.43B$2.90B
Intangibles $1.36B$1.72B$1.72B$1.55B$3.62B$3.64B$3.83B$3.94B$3.88B$4.09B$4.16B$4.36B
Other Non-current Assets $849M$859M$850M$1.03B$490M$443M$457M$455M$430M$393M$348M$304M
Total Assets $41.37B$42.23B$42.37B$45.69B$40.90B$36.49B$33.88B$30.21B$29.16B$28.17B$25.22B$26.59B
Accounts Payable $422M$413M$462M$370M$286M$143M$235M$303M$255M$250M$182M$164M
Accrued Liabilities ······$14M$47M$28M$36M$17M$14M
Current Liabilities $3.51B$3.35B$3.13B$4.52B$3.44B$1.86B$3.19B$2.95B$3.14B$2.29B$2.24B$3.41B
Capital Leases $24.96B$25.08B$25.13B$25.15B$11.80B$8.39B$4.28B$0·$5M$9M$8M
Deferred Tax $2.62B$2.81B$2.86B$2.97B$2.44B$2.15B$2.11B$1.34B$1.30B$2.55B$2.68B$2.62B
Other Non-current Liabilities $775M$910M$543M$256M$320M·$4.64B$259M$284M$326M$158M$131M
Total Liabilities $38.10B$38.51B$38.00B···$21.11B$19.64B$17.47B$18.15B$17.44B$18.97B
Long-term Debt $6.23B$6.36B$6.34B$8.72B$12.77B$12.38B$11.17B$15.13B$12.91B$12.99B$12.70B$14.05B
Total Debt $6.23B$6.36B$6.34B$8.72B$12.77B$12.38B$11.17B$15.13B$12.91B$12.99B$12.70B$14.16B
Common Stock $3M$3M$3M$4M$5M$5M$5M$5M$6M$6M$6M$5M
Retained Earnings $2.11B$3.08B$3.66B$4.79B$4.34B$3.09B$4.20B$2.42B$2.22B$546M$-556M$-108M
AOCI $320M$-61M$144M$33M$-25M$-31M$-10M$-9M$-4M$15M$14M$13M
Stockholders' Equity $2.43B$3.02B$3.81B$4.83B$6.07B$6.50B$7.73B$6.51B$7.58B$6.22B$5.12B$4.09B
Liabilities + Equity $41.37B$42.23B$42.37B$45.69B$40.90B$36.49B$33.88B$30.21B$29.16B$28.17B$25.22B$26.59B
Shares Outstanding 258,323,143294,374,000326,550,000379,088,000453,804,000494,318,000503,148,000527,479,528566,275,789574,123,706564,838,893491,292,117
Cash Flow 19
Metric Trend 202520242023202220212020201920182017201620152014
D&A $1.02B$831M$814M$3.48B$1.15B$1.21B$1.30B$1.18B$993M$850M$820M$816M
Stock-based Comp $90M$80M$74M$71M$65M$107M$89M$70M$62M$55M$43M$37M
Deferred Tax $-246M$-85M$-117M$496M$242M$18M$595M$47M$-1.26B$-81M$-4M$332M
Amort. of Intangibles $139M$119M$103M$2.70B$197M$194M$192M$176M$173M$180M$199M$232M
Restructuring ···$0$0$26M$92M$0$0···
Operating Cash Flow $2.53B$2.36B$2.69B$1.76B$1.37B$-1.49B$1.81B$1.72B$2.21B$1.53B$1.01B$1.13B
CapEx $1.07B$1.15B$932M$765M$491M$271M$739M$1.49B$1.86B$2.26B$1.47B$872M
Investing Cash Flow $-1.14B$-1.28B$-714M$2.12B$1.54B$2.16B$3.52B$-2.08B$-1.58B$-2.28B··
Debt Issued $354M$2.10B$0$0$750M$3.55B$3.25B$1.00B$350M$2.05B$0$1.25B
Net Debt Issued $-146M$-75M$-1.29B$-1.07B$750M$3.55B$3.25B$1.00B$350M$2.05B··
Stock Issued ······$1.25B$0$388M$1.21B$0·
Stock Repurchased $1.23B$1.36B$2.29B$2.78B$1.75B$354M$1.03B$1.28B$328M$0$0·
Net Stock Activity $-1.23B$-1.36B$-2.29B$-2.78B$-1.75B$-354M$218M$-1.28B$77M···
Dividends Paid ·$0$0$4M$5M$78M$271M$261M$252M$0··
Financing Cash Flow $-1.73B$-1.56B$-5.00B$-3.02B$-2.81B$2.10B$-4.53B$389M$-569M$519M··
Net Change in Cash $-353M$-512M$-3.02B$833M$101M$2.77B$803M$27M$53M$-224M$-47M$-86M
Taxes Paid $-35M$267M$344M$23M$43M$9M$28M$-10M$182M$68M$12M$42M
Free Cash Flow $1.46B$1.21B$1.76B$991M$883M$-1.76B$1.07B$236M$342M$-729M$-462M$259M
Levered FCF ··$1.35B$855M$222M$-2.35B$412M$-473M$-1.11B$-1.41B$-1.25B$6M
Profitability 7
Metric Trend 202520242023202220212020201920182017201620152014
Operating Margin 5.7%8.6%11.7%11.0%23.5%-12.4%30.6%12.5%15.9%22.0%-1.7%13.1%
Net Margin 1.2%4.3%7.1%11.2%13.0%-20.0%15.9%4.0%18.2%11.7%-4.9%-1.5%
Pretax Margin 1.6%6.5%9.1%6.9%15.1%-29.3%22.1%5.4%8.9%13.3%-11.4%4.1%
EBITDA Margin 5.7%8.6%11.7%11.0%23.5%-12.4%30.6%12.5%15.9%22.0%-1.7%13.1%
ROA 0.49%1.8%2.6%3.4%3.2%-2.9%6.4%1.6%6.8%4.1%-1.7%-0.57%
ROE 7.5%21.9%26.4%27.0%20.0%-14.5%28.8%6.6%28.3%19.4%-9.7%-3.6%
ROIC 21.5%15.1%16.6%2.4%10.0%-3.0%16.2%6.2%18.2%10.6%-0.87%2.2%
Liquidity & Solvency 5
Metric Trend 202520242023202220212020201920182017201620152014
Current Ratio 1.21.31.61.81.93.21.30.90.81.01.10.9
Quick Ratio 0.91.01.21.51.52.90.90.70.70.91.00.6
Debt / Equity 2.62.11.71.82.11.91.42.31.72.12.53.5
LT Debt / Equity 2.62.11.71.51.91.91.42.31.72.12.43.2
Interest Coverage ··4.12.42.8-0.94.61.92.63.0-0.21.6
Efficiency 2
Metric Trend 202520242023202220212020201920182017201620152014
Asset Turnover 0.40.40.40.30.30.10.40.40.40.40.40.4
Receivables Turnover 16.017.218.118.321.511.120.319.619.918.519.321.0
Per Share 6
Metric Trend 202520242023202220212020201920182017201620152014
Book Value / Share $9.41$10.27$11.67$12.75$13.38$13.16$15.36$12.35$13.44$10.83$9.06$8.33
Revenue / Share $63.25$55.57$45.07$31.79$19.86$10.45$24.45$21.41$18.61$16.49··
Cash Flow / Share $9.12$7.62$7.50$4.25$2.82$-3.02$3.43$3.13$3.81$2.68··
Cash / Share $7.99$8.21$8.97$15.60$10.36$10.32$4.63$2.89$2.65$2.52$2.96$3.49
Dividend / Share ···$0.01$0.01$0.16$0.52$0.48$0.44$0.00$0.00·
EPS (TTM) $0.76$2.40$3.19$3.49$2.41$-2.02$3.88$0.81$3.34$1.92$-0.82$-0.31
Growth Rates 7
Metric Trend 202520242023202220212020201920182017201620152014
Revenue YoY 1.7%6.7%23.1%35.6%87.5%·······
Revenue CAGR 3Y 10.1%21.2%46.3%·········
Revenue CAGR 5Y 27.7%···········
EPS YoY -68.3%-24.8%-8.6%44.8%········
EPS CAGR 3Y -39.8%-0.14%··········
Net Income YoY -72.4%-34.6%-22.5%17.4%········
Net Income CAGR 3Y -48.1%-15.9%··········
Valuation (TTM) 17
Metric Trend 202520242023202220212020201920182017201620152014
Revenue TTM $17.54B$17.24B$16.16B$13.13B$9.68B$5.16B$12.90B$11.76B$10.80B$9.48B$9.19B$10.08B
Net Income TTM $206M$747M$1.14B$1.47B$1.25B$-1.03B$2.05B$467M$1.95B$1.10B$-448M$-150M
Market Cap $9.43B$10.20B$14.59B$12.71B$20.37B$15.58B$16.74B$12.80B$18.91B$16.55B$12.83B$10.50B
Enterprise Value $13.59B$14.15B$18.01B$15.52B$28.43B$22.85B$25.58B$26.40B$30.32B$28.09B$23.86B$22.95B
P/E 48.014.414.09.618.6-15.68.630.010.015.0-27.7-69.0
P/S 0.50.60.91.02.13.01.31.11.81.71.41.0
P/B 3.93.43.82.63.42.42.22.02.52.72.52.6
P / Tangible Book ·····20.2······
P / Cash Flow 3.74.35.47.214.8-10.49.27.48.610.812.89.3
P / FCF 6.58.48.312.823.1-8.815.654.355.2-22.7-27.840.6
EV / EBITDA 13.69.59.510.812.5-35.66.518.017.713.5-152.717.3
EV / FCF 9.311.710.215.732.2-13.023.9112.088.6-38.6-51.788.7
EV / Revenue 0.80.81.11.22.94.42.02.22.83.02.62.3
Dividend Yield ·0.00%0.00%0.03%0.02%0.50%1.6%2.0%1.3%0.00%··
Earnings Yield 2.1%6.9%7.1%10.4%5.4%-6.4%11.7%3.3%10.0%6.7%-3.6%-1.5%
Payout Ratio ·0.00%0.00%0.27%0.38%-7.5%13.2%55.8%····
Annual Payout ·$0$0$4M$5M$78M$271M$261M$252M$0··

Most recent period on the left · null values shown as ·

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

16
Metric 2025-12-312024-12-312023-12-312022-12-312021-12-31
Revenue $17.54B $17.24B $16.16B $13.13B $9.68B
Operating Margin % 5.7% 8.6% 11.7% 11.0% 23.5%
Net Income $206M $747M $1.14B $1.47B $1.25B
Diluted EPS $0.76 $2.40 $3.19 $3.49 $2.41

Institutional owners (13F) 754 filers · $9.1B total · As of June 30, 2026

17

Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.

Holders 754
Value held $9.1B
New positions 139
Exited positions 67
Institutional activity — Q2 2026 vs prior quarter
New positions Exited positions Increased Decreased Net shares change
139 (+36 vs prior Q) 67 (-6 vs prior Q) 187 (+17 vs prior Q) 250 (-15 vs prior Q) +748K

Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.

Institution Value Shares % of tracked 13F Type
Davis Selected Advisers $1,142,790,561 23,903,317 12.59% Shares
VANGUARD GROUP INC $867,805,326 23,782,004 9.56% Shares
BlackRock, Inc. $604,339,835 12,640,448 6.66% Shares
VANGUARD CAPITAL MANAGEMENT LLC $581,232,146 12,157,125 6.41% Shares
VANGUARD PORTFOLIO MANAGEMENT LLC $395,229,780 8,266,676 4.36% Shares
STATE STREET CORP $336,953,788 7,047,768 3.71% Shares
Invesco Ltd. $256,861,296 5,372,543 2.83% Shares
Corvex Management LP $255,686,828 5,347,978 2.82% Shares
GEODE CAPITAL MANAGEMENT, LLC $240,743,554 5,044,676 2.65% Shares
MORGAN STANLEY $226,813,117 4,744,049 2.50% Shares
GOLDMAN SACHS GROUP INC $149,702,463 3,131,196 1.65% Shares
Point72 Asset Management, L.P. $139,704,836 2,922,084 1.54% Shares
DIMENSIONAL FUND ADVISORS LP $112,622,647 2,354,626 1.24% Shares
MONTANOVA CAPITAL, LLC $111,175,462 2,325,360 1.23% Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP $101,744,461 2,128,100 1.12% Call option
CHARLES SCHWAB INVESTMENT MANAGEMENT INC $99,690,113 2,085,131 1.10% Shares
AQR CAPITAL MANAGEMENT LLC $97,813,141 2,045,872 1.08% Shares
Helikon Investments Ltd $96,811,903 2,024,930 1.07% Shares
BANK OF AMERICA CORP /DE/ $96,624,979 2,021,020 1.06% Shares
TWO SIGMA INVESTMENTS, LP $95,527,966 1,998,075 1.05% Shares
NORTHERN TRUST CORP $88,151,264 1,843,783 0.97% Shares
VAUGHAN NELSON INVESTMENT MANAGEMENT, L.P. $83,591,770 1,748,416 0.92% Shares
Bank of New York Mellon Corp $76,425,755 1,598,531 0.84% Shares
UBS Group AG $71,983,740 1,505,621 0.79% Shares
JANE STREET GROUP, LLC $63,386,498 1,325,800 0.70% Call option
SUSQUEHANNA INTERNATIONAL GROUP, LLP $62,038,256 1,297,600 0.68% Put option
Balyasny Asset Management L.P. $59,517,043 1,244,866 0.66% Shares
JPMORGAN CHASE & CO $58,704,812 1,172,631 0.65% Shares
SOUTHEASTERN ASSET MANAGEMENT INC/TN/ $55,914,417 1,169,513 0.62% Shares
ROYAL BANK OF CANADA $54,313,000 1,136,022 0.60% Shares
VANGUARD FIDUCIARY TRUST CO $51,008,680 1,066,904 0.56% Shares
Allianz Asset Management GmbH $49,623,959 1,037,941 0.55% Shares
CITIGROUP INC $47,640,514 996,455 0.52% Shares
Mudita Advisors LLP $45,225,296 945,938 0.50% Shares
GOLDENTREE ASSET MANAGEMENT LP $43,481,139 909,457 0.48% Shares
DEUTSCHE BANK AG\ $41,483,257 867,669 0.46% Shares
Point72 Asset Management, L.P. $41,436,927 866,700 0.46% Call option
FMR LLC $40,921,969 855,928 0.45% Shares
ROYAL BANK OF CANADA $39,634,000 829,000 0.44% Call option
CITADEL ADVISORS LLC $39,304,601 822,100 0.43% Call option
D. E. Shaw & Co., Inc. $39,264,440 821,260 0.43% Shares
BANK OF MONTREAL /CAN/ $37,315,944 780,505 0.41% Shares
ArrowMark Colorado Holdings LLC $37,028,606 774,495 0.41% Shares
Hosking Partners LLP $33,990,328 710,946 0.37% Shares
WELLS FARGO & COMPANY/MN $32,872,787 687,572 0.36% Shares
Interval Partners, LP $31,969,782 668,684 0.35% Shares
NORGES BANK $30,907,061 646,456 0.34% Shares
RAYMOND JAMES FINANCIAL INC $30,217,261 632,028 0.33% Shares
TIG Advisors, LLC $28,989,020 606,338 0.32% Shares
TODD ASSET MANAGEMENT LLC $28,661,378 599,485 0.32% Shares

Show all 754 institutional owners →

Activists & 5%+ owners 12 positions

18

Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.

Filer Filed Stake Status Purpose Filing
IAC INC. ×5 filings June 1, 2026 26.10% Amendment · SEC
IAC/InterActiveCorp ×4 filings Feb. 16, 2022 · Initial filing · SEC
MGM Resorts International July 1, 2021 · Initial filing M&A / sale SEC
Tracinda Corporation, Anthony L. Mandekic ×30 filings March 13, 2018 · Initial filing · SEC
Infinity World Investments LLC, Infinity World Cayman Investments Corporation, Infinity World (Cayman) L.P., Infinity World (Cayman) Holding, Infinity World Holding Ltd., Dubai World ×12 filings Jan. 31, 2013 · Initial filing · SEC
Tracinda Corporation (2), Kirk Kerkorian (2) ×4 filings Feb. 20, 2009 · Initial filing · SEC
Infinity World (Cayman) L.P., Infinity World (Cayman) Holding, Infinity World Holding Ltd., Dubai World ×2 filings Jan. 16, 2008 · Initial filing M&A / sale SEC
Tracinda Corporation . (2), Kirk Kerkorian (2) ×2 filings Aug. 7, 2007 · Initial filing · SEC
Tracinda Corporation. (2), Kirk Kerkorian (2) June 20, 2007 · Initial filing · SEC
Undisclosed reporting person, Undisclosed reporting person Nov. 5, 2001 · Initial filing · SEC
Undisclosed reporting person, Undisclosed reporting person May 22, 2001 · Initial filing · SEC
Undisclosed reporting person, Undisclosed reporting person Feb. 9, 2001 · Initial filing · SEC

Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.

Company insiders 64 insiders · 32 officers · 29 directors

19
Insider Role Last activity Shares owned Buys 12m Sells 12m Net 12m
William Hornbuckle CEO AND PRESIDENT Feb. 24, 2026 M 605,073 0 0 $0
James Murren CHAIRMAN & CEO March 16, 2020 A 98,349 0 0 $0
Terrence J Lanni CHAIRMAN & CEO Oct. 6, 2008 A 36,700 0 0 $0
John Redmond PRESIDENT & CEO - MGM GRAND RE Feb. 22, 2007 S 4,000 0 0 $0
Jonathan S Halkyard CHIEF FINANCIAL OFFICER Feb. 24, 2026 M 118,797 0 0 $0
Arrigo Daneil D EXECUTIVE VICE PRESIDENT & CFO Feb. 21, 2019 A 239,460 0 0 $0
Gary M Fritz President, Interactive Oct. 1, 2026 M 149,850 0 0 $0
Atif Rafiq President, Commercial & Growth Sept. 15, 2020 A 18,573 0 0 $0
Ayesha Khanna Molino CHIEF OPERATING OFFICER March 1, 2026 M 21,585 0 0 $0
Corey Ian Sanders CHIEF OPERATING OFFICER Oct. 7, 2025 M 58,398 0 0 $0
Todd Meinert SVP & Chief Accounting Officer Oct. 7, 2025 M 25,369 0 0 $0
John Mcmanus CHIEF LEGAL ADMIN OFC AND SECY Oct. 7, 2025 M 65,685 0 0 $0
Tilak Mandadi CSITO June 15, 2022 A · 0 0 $0
Robert Selwood EVP - CHIEF ACCOUNTING OFFICER Oct. 19, 2020 M 184,843 0 0 $0
Phyllis James CHIEF DIV & CORP RESP OFFICER June 14, 2019 A 14,096 0 0 $0
Robert Baldwin CHIEF CUSTOMER DEV OFFICER Nov. 14, 2018 M 77,183 0 0 $0
Christopher W Nordling EVP OPERATIONS May 29, 2014 M 13,062 0 0 $0
William Maxwell Scott IV EVP CORP STRATEGY & SPEC CNSL March 3, 2014 A 4,441 0 0 $0
Aldo Manzini EVP - CHIEF ADMIN OFFICER Nov. 5, 2012 A 17,196 0 0 $0
Shawn Sani SENIOR VICE PRESIDENT TAX May 30, 2012 S 10,412 0 0 $0
Ricky Edward Arpin SVP AND CORPORATE CONTROLLER Jan. 8, 2012 M 3,815 0 0 $0
Alan Feldman SVP - PUBLIC AFFAIRS Nov. 8, 2011 S 2,930 0 0 $0
James Armin Freeman SVP CAPITAL MARKETS & STRATEGY Oct. 4, 2011 M 220 0 0 $0
Cathryn Santoro SVP & TREASURER Oct. 6, 2008 A · 0 0 $0
Punam Mathur SVP-Corp Diversity & Comm Afrs Oct. 6, 2008 A 0 0 0 $0
Bryan Wright SENIOR VICE PRESIDENT Aug. 24, 2007 M 4,412 0 0 $0
Cynthia Kiser Murphey SENIOR VICE PRESIDENT Nov. 22, 2006 S 12,634 0 0 $0
Glenn Bonner SENIOR VICE PRESIDENT June 2, 2006 F 5,484 0 0 $0
Shelley Mansholt VICE PRESIDENT March 3, 2004 M 0 0 0 $0
Anthony Gladney VICE PRESIDENT March 2, 2004 M 0 0 0 $0
Jennifer Michaels VICE PRESIDENT Feb. 27, 2004 M 0 0 0 $0
Kyle Edwards VP OF CORPORATE SECURITY Feb. 26, 2004 M 66 0 0 $0
Joseph M. Levin Director Sept. 30, 2026 A 6,675 0 0 $0
Meister, Keith A. Director Sept. 30, 2026 A 5,347,978 0 1 $-1,285,125
SALEM PAUL J Director Sept. 30, 2026 A 1,702,500 0 0 $0
Daniel J Taylor Director May 22, 2026 S 0 0 1 $-256,587
Donna Langley Director May 7, 2026 A 1,734 0 0 $0
Ben Winston Director May 7, 2026 A 12,877 0 0 $0
Keith Barr Director May 7, 2026 A · 0 0 $0
Janet Swartz Director May 7, 2026 A 11,936 0 0 $0
Rose Mckinney-James Director May 7, 2026 A 5,098 0 0 $0
Mary Chris Jammet Director May 2, 2025 M 10,511 0 0 $0
Alexis Herman Director May 17, 2024 S 0 0 0 $0
Gregory M Spierkel Director May 2, 2023 M 26,642 0 0 $0
John B Kilroy JR Director Dec. 15, 2021 A 8,600 0 0 $0
William Warwick Grounds Director June 15, 2021 A 22,346 0 0 $0
Roland A Hernandez Director May 5, 2021 M 27,469 0 0 $0
William A Bible Director May 1, 2019 M 17,081 0 0 $0
Anthony Leo Mandekic Director May 31, 2017 M 13,357 0 0 $0
Willie D Davis Director March 13, 2014 M 44,929 0 0 $0
Burton M Cohen Director June 12, 2013 M · 0 0 $0
Melvin Wolzinger Director June 14, 2011 A 39,300 0 0 $0
Kenneth Carroll Guinn Director June 15, 2010 A 6,557 0 0 $0
Ronald Popeil Director Feb. 29, 2008 P 64,150 0 0 $0
James Aljian Director Nov. 7, 2006 M 56,600 0 0 $0
Terry N Christensen Director Aug. 12, 2005 P 9,500 0 0 $0
Daniel Wade Director Aug. 1, 2005 M 5,200 0 0 $0
IAC/InterActiveCorp 10% owner March 24, 2026 P 66,822,350 3 0 $77,108,052
Alexander M Jr General Usa Ret Haig · Aug. 4, 2009 A 4,800 0 0 $0
Gary N Jacobs · Aug. 3, 2009 A 30,024 0 0 $0
Bruce Gebhardt · Dec. 7, 2007 M 0 0 0 $0
George Mason · May 3, 2005 A 55,000 0 0 $0
Alex Yemenidjian · May 3, 2005 A 0 0 0 $0
Robert Rudloff · Nov. 3, 2003 A · 0 0 $0

Insiders from SEC Form 3/4/5 filings; net = open-market P/S only

ETF ownership Held by 82 ETFs

20

Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.

Fund Weight Units As of Source
NITE · Capitol Series Trust 4.52% 31,486 NS July 31, 2026 N-PORT
DUSA · Davis Fundamental ETF Trust 4.37% 1,247,675 NS July 31, 2026 N-PORT
DWLD · Davis Fundamental ETF Trust 3.40% 465,808 NS July 31, 2026 N-PORT
RSPD · Invesco Exchange-Traded Fund Trust 1.68% 197,663 SH Oct. 1, 2026 Daily
HGRO · ETF Opportunities Trust 1.19% 33,657 NS July 31, 2026 N-PORT
BSJS · Invesco Exchange-Traded Self-Indexe… 0.74% 5,767,000 Oct. 1, 2026 Daily
RPV · Invesco Exchange-Traded Fund Trust 0.49% 258,469 SH Oct. 1, 2026 Daily
JPME · J.P. Morgan Exchange-Traded Fund Tr… 0.25% 26,557 NS July 31, 2026 N-PORT
PKW · Invesco Exchange-Traded Fund Trust 0.23% 120,873 SH Oct. 1, 2026 Daily
BKMC · BNY Mellon ETF Trust 0.22% 31,733 NS July 31, 2026 N-PORT
VCR · VANGUARD WORLD FUND 0.21% 295,016 SH Aug. 19, 2026 Daily
FDIS · FIDELITY COVINGTON TRUST 0.20% 74,706 NS July 31, 2026 N-PORT
JVAL · J.P. Morgan Exchange-Traded Fund Tr… 0.18% 34,341 NS July 31, 2026 N-PORT
BBMC · J.P. Morgan Exchange-Traded Fund Tr… 0.18% 82,807 NS July 31, 2026 N-PORT
VBR · VANGUARD INDEX FUNDS 0.18% 2,607,479 SH Aug. 19, 2026 Daily
RSP · Invesco Exchange-Traded Fund Trust 0.16% 4,810,928 SH Oct. 1, 2026 Daily
REVS · Columbia ETF Trust I 0.15% 11,546 NS July 31, 2026 N-PORT
IYC · iShares Trust 0.13% 37,253 SH Sept. 11, 2026 Daily
RXI · iShares Trust 0.13% 7,696 SH Sept. 11, 2026 Daily
WANT · Direxion Shares ETF Trust 0.12% 547 NS July 31, 2026 N-PORT
SMMD · iShares Trust 0.11% 99,483 SH Sept. 11, 2026 Daily
ESML · iShares Trust 0.10% 70,454 SH Sept. 11, 2026 Daily
VB · VANGUARD INDEX FUNDS 0.10% 4,107,679 SH Aug. 19, 2026 Daily
ACVF · ETF Opportunities Trust 0.08% 2,835 NS July 31, 2026 N-PORT
RECS · Columbia ETF Trust I 0.08% 101,697 NS July 31, 2026 N-PORT
IWS · iShares Trust 0.07% 276,305 SH Sept. 11, 2026 Daily
VFMF · VANGUARD WELLINGTON FUND 0.07% 9,744 SH Aug. 19, 2026 Daily
FNX · First Trust Exchange-Traded AlphaDE… 0.07% 21,544 NS July 31, 2026 N-PORT
RWL · Invesco Exchange-Traded Fund Trust … 0.07% 217,772 SH Oct. 1, 2026 Daily
WSML · iShares Trust 0.07% 11,105 SH Sept. 11, 2026 Daily
LRGF · iShares Trust 0.06% 56,047 SH Sept. 11, 2026 Daily
DFUV · Dimensional ETF Trust 0.06% 210,095 NS July 31, 2026 N-PORT
IWR · iShares Trust 0.06% 761,577 SH Sept. 11, 2026 Daily
EQAL · Invesco Exchange-Traded Fund Trust … 0.05% 12,227 SH Oct. 1, 2026 Daily
IUS · Invesco Exchange-Traded Self-Indexe… 0.05% 14,144 SH Oct. 1, 2026 Daily
XOEF · iShares Trust 0.04% 238 SH Sept. 11, 2026 Daily
DFAC · Dimensional ETF Trust 0.04% 383,455 NS July 31, 2026 N-PORT
PRF · Invesco Exchange-Traded Fund Trust 0.03% 106,848 SH Oct. 1, 2026 Daily
VFVA · VANGUARD WELLINGTON FUND 0.03% 5,390 SH Aug. 19, 2026 Daily
VOOV · VANGUARD ADMIRAL FUNDS 0.03% 44,317 SH Aug. 19, 2026 Daily
IVE · iShares Trust 0.03% 318,163 SH Sept. 11, 2026 Daily
IUSV · iShares Trust 0.02% 167,280 SH Sept. 11, 2026 Daily
IWD · iShares Trust 0.02% 412,762 SH Sept. 11, 2026 Daily
EGLE · Global X Funds 0.02% 10 NS July 31, 2026 N-PORT
TILT · FlexShares Trust 0.02% 9,954 NS July 31, 2026 N-PORT
VONV · VANGUARD SCOTTSDALE FUNDS 0.02% 112,223 SH Aug. 19, 2026 Daily
DFSU · Dimensional ETF Trust 0.02% 9,695 NS July 31, 2026 N-PORT
QVML · Invesco Exchange-Traded Fund Trust … 0.02% 9,413 SH Oct. 1, 2026 Daily
XRMI · Global X Funds 0.02% 188 NS July 31, 2026 N-PORT
XYLG · Global X Funds 0.02% 232 NS July 31, 2026 N-PORT
DFAU · Dimensional ETF Trust 0.02% 44,333 NS July 31, 2026 N-PORT
XTR · Global X Funds 0.02% 17 NS July 31, 2026 N-PORT
TOPC · iShares Trust 0.02% 122 SH Sept. 11, 2026 Daily
XCLR · Global X Funds 0.02% 12 NS July 31, 2026 N-PORT
XVV · iShares Trust 0.01% 2,198 SH Sept. 11, 2026 Daily
PTLC · Pacer Funds Trust 0.01% 9,722 NS July 31, 2026 N-PORT
DCOR · Dimensional ETF Trust 0.01% 9,879 NS July 31, 2026 N-PORT
XYLD · Global X Funds 0.01% 9,585 NS July 31, 2026 N-PORT
DFUS · Dimensional ETF Trust 0.01% 57,488 NS July 31, 2026 N-PORT
SPUU · Direxion Shares ETF Trust 0.01% 724 NS July 31, 2026 N-PORT
IVV · iShares Trust 0.01% 2,426,076 SH Sept. 11, 2026 Daily
QDPL · Pacer Funds Trust 0.01% 4,601 NS July 31, 2026 N-PORT
IYY · iShares Trust 0.01% 8,210 SH Sept. 11, 2026 Daily
DFAT · Dimensional ETF Trust 0.01% 35,812 NS July 31, 2026 N-PORT
IWB · iShares Trust 0.01% 128,375 SH Sept. 11, 2026 Daily
ITOT · iShares Trust 0.01% 251,471 SH Sept. 11, 2026 Daily
HCMT · Direxion Shares ETF Trust 0.01% 1,338 NS July 31, 2026 N-PORT
IWV · iShares Trust 0.01% 51,107 SH Sept. 11, 2026 Daily
VOO · VANGUARD INDEX FUNDS 0.01% 4,985,861 SH Aug. 19, 2026 Daily
VTI · VANGUARD INDEX FUNDS 0.01% 5,687,594 SH Aug. 19, 2026 Daily
VT · VANGUARD INTERNATIONAL EQUITY INDEX… 0.01% 159,804 SH Aug. 19, 2026 Daily
VONE · VANGUARD SCOTTSDALE FUNDS 0.01% 30,629 SH Aug. 19, 2026 Daily
VTHR · VANGUARD SCOTTSDALE FUNDS 0.01% 15,658 SH Aug. 19, 2026 Daily
SPXL · Direxion Shares ETF Trust 0.01% 15,000 NS July 31, 2026 N-PORT
PBP · Invesco Exchange-Traded Fund Trust 0.01% 1,048 SH Oct. 1, 2026 Daily
PHDG · Invesco Actively Managed Exchange-T… 0.01% 139 SH Oct. 1, 2026 Daily
NEAR · iShares U.S. ETF Trust 0.01% 346,000 SH Sept. 9, 2026 Daily
OMFL · Invesco Exchange-Traded Self-Indexe… 0.00% 5,886 SH Oct. 1, 2026 Daily
DXUV · Dimensional ETF Trust 0.00% 399 NS July 31, 2026 N-PORT
ISCB · iShares Trust · 8,465 SH Sept. 11, 2026 Daily
ISCV · iShares Trust · 42,124 SH Sept. 11, 2026 Daily
SMLF · iShares Trust · 99,900 SH Sept. 11, 2026 Daily

MGM Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

21
rating · 30 analysts BUY
Median target $48.30 +58.5%
4 13.3% Strong Buy
11 36.7% Buy
13 43.3% Hold
2 6.7% Sell
0 0.0% Strong Sell

12-Month Price Target

19 analysts · 2026-09-29

Mean target $49.33 +61.8%

← Below all targets Current price $30.48
Low$40.00 Mean$49.33 High$57.00

Peer comparison (GICS sub-industry) Key metrics vs sector peers

22

FY basis, prices as of each company's last fiscal year-end close.

Ticker Market Cap P/E Rev YoY Net Margin ROE Gross Margin
MGM $9.43B 48.0 1.7% 1.2% 7.5% ·
LVS $43.94B 27.7 15.2% 12.5% 72.7% ·
FLUT $37.68B -122.9 16.6% -2.5% -4.4% 45.2%
WYNN $12.51B 38.3 0.14% 4.6% -131.0% ·
DKNG · -3446.0 27.0% 0.06% 0.45% ·
CZR $4.74B -9.7 2.1% -4.4% -13.1% ·
CHDN $7.92B 8.0 7.0% 13.1% 37.3% ·
RRR · 19.9 3.7% 9.3% 88.8% ·
BYD $6.51B 3.8 4.1% 45.1% 88.0% ·
RSI · 62.7 22.8% 2.9% 29.5% ·
MCRI $1.71B 17.6 4.4% 18.6% 18.8% 23.4%

Latest News Recent headlines mentioning this company

23

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26

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Source: SEC 10-Q filed Jul 29, 2026