MGM RESORTS INTERNATIONAL, 10-Q filed on 10/30/2024
Quarterly Report
v3.24.3
Cover Page - shares
 9 Months Ended
Sep. 30, 2024
Oct. 28, 2024
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Sep. 30, 2024  
Document Transition Report false  
Entity File Number 001-10362  
Entity Registrant Name MGM Resorts International  
Entity Incorporation, State or Country Code DE  
Entity Tax Identification Number 88-0215232  
Entity Address, Address Line One 3600 Las Vegas Boulevard South  
Entity Address, City or Town Las Vegas  
Entity Address, State or Province NV  
Entity Address, Postal Zip Code 89109  
City Area Code 702  
Local Phone Number 693-7120  
Title of 12(b) Security Common stock (Par Value $0.01)  
Trading Symbol MGM  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   297,740,481
Amendment Flag false  
Document Fiscal Period Focus Q3  
Document Fiscal Year Focus 2024  
Entity Central Index Key 0000789570  
Current Fiscal Year End Date --12-31  
v3.24.3
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Current assets    
Cash and cash equivalents $ 2,950,592 $ 2,927,833
Accounts receivable, net 964,741 929,135
Inventories 144,843 141,678
Income tax receivable 212,578 141,444
Prepaid expenses and other 559,699 770,503
Total current assets 4,832,453 4,910,593
Property and equipment, net 5,950,035 5,449,544
Other assets    
Investments in and advances to unconsolidated affiliates 414,161 240,803
Goodwill 5,175,752 5,165,694
Other intangible assets, net 1,776,503 1,724,582
Operating lease right-of-use assets, net 23,658,647 24,027,465
Other long-term assets, net 933,402 849,867
Total other assets 31,958,465 32,008,411
Total assets 42,740,953 42,368,548
Current liabilities    
Accounts and construction payable 391,836 461,718
Current portion of long-term debt 675,000 0
Accrued interest on long-term debt 112,403 60,173
Other accrued liabilities 2,707,519 2,604,177
Total current liabilities 3,886,758 3,126,068
Deferred income taxes, net 2,792,523 2,860,997
Long-term debt, net 6,234,275 6,343,810
Operating lease liabilities 25,092,217 25,127,464
Other long-term obligations 880,296 542,708
Commitments and contingencies (Note 8)
Redeemable noncontrolling interests 33,343 33,356
Stockholders’ equity    
Common stock, $0.01 par value: authorized 1,000,000,000 shares, issued and outstanding 296,886,350 and 326,550,141 shares 2,969 3,266
Capital in excess of par value 0 0
Retained earnings 3,037,397 3,664,008
Accumulated other comprehensive income 191,575 143,896
Total MGM Resorts International stockholders’ equity 3,231,941 3,811,170
Noncontrolling interests 589,600 522,975
Total stockholders’ equity 3,821,541 4,334,145
Total liabilities and stockholders' equity $ 42,740,953 $ 42,368,548
v3.24.3
CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares
Sep. 30, 2024
Dec. 31, 2023
Statement of Financial Position [Abstract]    
Common stock, par value (in dollars per share) $ 0.01 $ 0.01
Common stock, shares authorized (in shares) 1,000,000,000 1,000,000,000
Common stock, shares issued (in shares) 296,886,350 326,550,141
Common stock, shares outstanding (in shares) 296,886,350 326,550,141
v3.24.3
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenues        
Total revenue $ 4,183,138 $ 3,973,183 $ 12,893,983 $ 11,788,686
Expenses        
General and administrative 1,176,726 1,192,298 3,582,376 3,472,228
Corporate expense 125,043 121,838 378,787 366,485
Preopening and start-up expenses 519 68 2,469 356
Property transactions, net 25,493 12,227 59,124 (378,235)
Depreciation and amortization 233,330 201,827 621,868 608,831
Total expenses 3,876,270 3,625,754 11,643,773 10,247,852
Income (loss) from unconsolidated affiliates 7,989 22,507 (51,319) (68,681)
Operating income 314,857 369,936 1,198,891 1,472,153
Non-operating income (expense)        
Interest expense, net of amounts capitalized (111,873) (111,170) (334,649) (353,415)
Non-operating items from unconsolidated affiliates 417 438 2,043 (1,187)
Other, net 93,333 (34,879) 45,096 35,121
Non-operating income (expense) (18,123) (145,611) (287,510) (319,481)
Income before income taxes 296,734 224,325 911,381 1,152,672
Provision for income taxes (52,570) (12,440) (84,689) (217,360)
Net income 244,164 211,885 826,692 935,312
Less: Net income attributable to noncontrolling interests (59,586) (50,768) (237,566) (106,592)
Net income attributable to MGM Resorts International $ 184,578 $ 161,117 $ 589,126 $ 828,720
Earnings per share        
Basic (in dollars per share) $ 0.61 $ 0.46 $ 1.90 $ 2.30
Diluted (in dollars per share) $ 0.61 $ 0.46 $ 1.88 $ 2.28
Weighted average common shares outstanding        
Basic (in shares) 300,499 347,345 310,688 360,732
Diluted (in shares) 303,479 351,390 313,852 364,847
Casino        
Revenues        
Total revenue $ 2,121,049 $ 2,050,584 $ 6,574,903 $ 5,884,394
Expenses        
Cost of revenues 1,205,286 1,056,487 3,698,885 3,073,122
Rooms        
Revenues        
Total revenue 883,564 827,091 2,738,963 2,490,902
Expenses        
Cost of revenues 286,658 260,905 838,915 751,319
Food and beverage        
Revenues        
Total revenue 755,322 698,261 2,326,863 2,163,628
Expenses        
Cost of revenues 563,521 530,145 1,693,031 1,579,561
Entertainment, retail and other        
Revenues        
Total revenue 411,326 385,691 1,217,322 1,215,980
Expenses        
Cost of revenues 247,817 238,403 732,386 740,403
Reimbursed costs        
Revenues        
Total revenue 11,877 11,556 35,932 33,782
Expenses        
Cost of revenues $ 11,877 $ 11,556 $ 35,932 $ 33,782
v3.24.3
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Statement of Comprehensive Income [Abstract]        
Net income $ 244,164 $ 211,885 $ 826,692 $ 935,312
Other comprehensive income (loss), net of tax:        
Foreign currency translation 156,968 (30,386) 50,700 (36,475)
Other 0 0 0 871
Other comprehensive income (loss) 156,968 (30,386) 50,700 (35,604)
Comprehensive income 401,132 181,499 877,392 899,708
Less: Comprehensive income attributable to noncontrolling interests (62,362) (51,056) (240,587) (105,104)
Comprehensive income attributable to MGM Resorts International $ 338,770 $ 130,443 $ 636,805 $ 794,604
v3.24.3
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities    
Net income $ 826,692 $ 935,312
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 621,868 608,831
Amortization of debt discounts and issuance costs 20,396 20,846
Loss on early retirement of debt 2,013 0
Provision for credit losses 49,693 25,974
Stock-based compensation 51,720 46,246
Foreign currency transaction loss 28,303 26,302
Property transactions, net 59,124 (378,235)
Noncash lease expense 386,412 388,571
Other investment losses (gains) (11,134) 39,452
Loss from unconsolidated affiliates 49,276 69,868
Distributions from unconsolidated affiliates 12,390 8,838
Deferred income taxes (68,942) 11,828
Change in operating assets and liabilities:    
Accounts receivable (40,244) 5,296
Inventories (3,029) (9,766)
Income taxes receivable and payable, net (69,203) (81,871)
Prepaid expenses and other (33,577) (74,088)
Accounts payable and accrued liabilities (232,629) 276,924
Other 41,811 54,511
Net cash provided by operating activities 1,690,940 1,974,839
Cash flows from investing activities    
Capital expenditures (746,572) (603,053)
Dispositions of property and equipment 3,472 6,133
Investments in unconsolidated affiliates (182,078) (144,452)
Proceeds from sale of operating resorts 0 460,392
Acquisitions, net of cash acquired (113,882) (122,058)
Proceeds from repayment of principal on note receivable 0 152,518
Distributions from unconsolidated affiliates 1,762 6,792
Investments and other 158,060 (176,826)
Net cash used in investing activities (879,238) (420,554)
Cash flows from financing activities    
Net repayments under bank credit facilities - maturities of 90 days or less (19,061) (931,028)
Issuance of long-term debt 2,100,000 0
Repayment of long-term debt (1,500,000) (1,285,600)
Debt issuance costs (38,268) (20,617)
Distributions to noncontrolling interest owners (103,569) (169,093)
Repurchases of common stock (1,238,064) (1,668,888)
Other 25,163 (101,871)
Net cash used in financing activities (773,799) (4,177,097)
Effect of exchange rate on cash, cash equivalents, and restricted cash (14,736) (36,316)
Change in cash and cash equivalents classified as assets held for sale 0 25,938
Cash, cash equivalents, and restricted cash    
Net change for the period 23,167 (2,633,190)
Balance, beginning of period 3,014,896 6,036,388
Balance, end of period 3,038,063 3,403,198
Supplemental cash flow disclosures    
Interest paid, net of amounts capitalized 262,023 301,173
Federal, state and foreign income taxes paid, net 225,280 286,561
Gaming Subconcession | M G M Grand Paradise    
Non-cash investing and financing activities    
MGM Grand Paradise gaming concession intangible asset 0 226,083
MGM Grand Paradise gaming concession payment obligation $ 0 $ 226,083
v3.24.3
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($)
$ in Thousands
Total
Total MGM Resorts International Stockholders’ Equity
Common Stock
Capital in Excess of Par Value
Retained Earnings
Accumulated Other Comprehensive Income
Noncontrolling Interests
Beginning balance (in shares) at Dec. 31, 2022     379,088,000        
Beginning balance at Dec. 31, 2022 $ 5,210,123 $ 4,831,529 $ 3,791 $ 0 $ 4,794,239 $ 33,499 $ 378,594
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 934,831 828,720     828,720   106,111
Currency translation adjustment (36,475) (34,987)       (34,987) (1,488)
Stock-based compensation 46,185 44,092   44,092     2,093
Issuance of common stock pursuant to stock-based compensation awards (in shares)     1,096,000        
Issuance of common stock pursuant to stock-based compensation awards (21,635) (21,635) $ 11 (12,328) (9,318)    
Distributions to noncontrolling interest owners (21,566)           (21,566)
Issuance of restricted stock units 1,701 1,701   1,701      
Repurchases of common stock (in shares)     (39,269,000)        
Repurchases of common stock (1,684,797) (1,684,797) $ (393) (33,688) (1,650,716)    
Adjustment of redeemable noncontrolling interest to redemption value 1,377 1,377   1,377      
Other (964) (283)   (1,154)   871 (681)
Ending balance (in shares) at Sep. 30, 2023     340,915,000        
Ending balance at Sep. 30, 2023 4,428,780 3,965,717 $ 3,409 0 3,962,925 (617) 463,063
Beginning balance (in shares) at Jun. 30, 2023     352,790,000        
Beginning balance at Jun. 30, 2023 4,835,367 4,416,173 $ 3,528 0 4,382,588 30,057 419,194
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 211,742 161,117     161,117   50,625
Currency translation adjustment (30,386) (30,674)       (30,674) 288
Stock-based compensation 11,064 10,270   10,270     794
Issuance of common stock pursuant to stock-based compensation awards (in shares)     891,000        
Issuance of common stock pursuant to stock-based compensation awards (19,071) (19,071) $ 9 (9,762) (9,318)    
Distributions to noncontrolling interest owners (7,476)           (7,476)
Repurchases of common stock (in shares)     (12,766,000)        
Repurchases of common stock (571,590) (571,590) $ (128) 0 (571,462)    
Adjustment of redeemable noncontrolling interest to redemption value (34) (34)   (34)      
Other (836) (474)   (474)     (362)
Ending balance (in shares) at Sep. 30, 2023     340,915,000        
Ending balance at Sep. 30, 2023 $ 4,428,780 3,965,717 $ 3,409 0 3,962,925 (617) 463,063
Beginning balance (in shares) at Dec. 31, 2023 326,550,141   326,550,000        
Beginning balance at Dec. 31, 2023 $ 4,334,145 3,811,170 $ 3,266 0 3,664,008 143,896 522,975
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 826,297 589,126     589,126   237,171
Currency translation adjustment 50,700 47,679       47,679 3,021
Stock-based compensation 51,247 49,066   49,066     2,181
Issuance of common stock pursuant to stock-based compensation awards (in shares)     382,000        
Issuance of common stock pursuant to stock-based compensation awards (6,151) (6,151) $ 3 (6,154)      
Distributions to noncontrolling interest owners (178,713)           (178,713)
Repurchases of common stock (in shares)     (30,046,000)        
Repurchases of common stock (1,250,118) (1,250,118) $ (300) (34,066) (1,215,752)    
Adjustment of redeemable noncontrolling interest to redemption value 15 15     15    
Other $ (5,881) (8,846)   (8,846)     2,965
Ending balance (in shares) at Sep. 30, 2024 296,886,350   296,886,000        
Ending balance at Sep. 30, 2024 $ 3,821,541 3,231,941 $ 2,969 0 3,037,397 191,575 589,600
Beginning balance (in shares) at Jun. 30, 2024     304,965,000        
Beginning balance at Jun. 30, 2024 3,814,145 3,212,676 $ 3,050 0 3,172,243 37,383 601,469
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 244,077 184,578     184,578   59,499
Currency translation adjustment 156,968 154,192       154,192 2,776
Stock-based compensation 12,217 11,443   11,443     774
Issuance of common stock pursuant to stock-based compensation awards (in shares)     270,000        
Issuance of common stock pursuant to stock-based compensation awards (4,393) (4,393) $ 3 (4,396)      
Distributions to noncontrolling interest owners (84,424)           (84,424)
Repurchases of common stock (in shares)     (8,349,000)        
Repurchases of common stock (325,827) (325,827) $ (84) (6,535) (319,208)    
Adjustment of redeemable noncontrolling interest to redemption value (216) (216)     (216)    
Other $ 8,994 (512)   (512)     9,506
Ending balance (in shares) at Sep. 30, 2024 296,886,350   296,886,000        
Ending balance at Sep. 30, 2024 $ 3,821,541 $ 3,231,941 $ 2,969 $ 0 $ 3,037,397 $ 191,575 $ 589,600
v3.24.3
ORGANIZATION
 9 Months Ended
Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
ORGANIZATION ORGANIZATION
Organization. MGM Resorts International, a Delaware corporation (together with its consolidated subsidiaries, unless otherwise indicated or unless the context requires otherwise, the “Company”) is a global gaming and entertainment company with domestic and international locations featuring hotels and casinos, convention, dining, and retail offerings, and sports betting and online gaming operations.

As of September 30, 2024, the Company’s domestic casino resorts include the following integrated casino, hotel and entertainment resorts in Las Vegas, Nevada: Aria (including Vdara), Bellagio, The Cosmopolitan of Las Vegas (“The Cosmopolitan”), MGM Grand Las Vegas (including The Signature), Mandalay Bay, Luxor, New York-New York, Park MGM, and Excalibur. The Company also operates MGM Grand Detroit in Detroit, Michigan, MGM National Harbor in Prince George’s County, Maryland, MGM Springfield in Springfield, Massachusetts, Borgata in Atlantic City, New Jersey, Empire City in Yonkers, New York, MGM Northfield Park in Northfield Park, Ohio, and Beau Rivage in Biloxi, Mississippi. Additionally, the Company operates The Park, a dining and entertainment district located between New York-New York and Park MGM. The Company leases the real estate assets of its domestic properties pursuant to triple-net lease agreements.

The Company has an approximate 56% controlling interest in MGM China Holdings Limited (together with its subsidiaries, “MGM China”), which owns MGM Grand Paradise, S.A. (“MGM Grand Paradise”). MGM Grand Paradise owns and operates MGM Macau and MGM Cotai, two integrated casino, hotel and entertainment resorts in Macau, as well as the related gaming concession and land concessions.

The Company also owns LV Lion Holding Limited (“LeoVegas”), a consolidated subsidiary that has global online gaming operations headquartered in Sweden and Malta. Additionally, the Company and its venture partner, Entain plc, each have a 50% ownership interest in BetMGM, LLC (“BetMGM”), an unconsolidated affiliate, which provides online sports betting and gaming in certain jurisdictions in North America. The Company also has a 50% ownership interest in Osaka IR KK, an unconsolidated affiliate, which plans to develop an integrated resort in Osaka, Japan.

Reportable segments. The Company has three reportable segments: Las Vegas Strip Resorts, Regional Operations and MGM China. See Note 11 for additional information about the Company’s segments.
v3.24.3
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES
 9 Months Ended
Sep. 30, 2024
Accounting Policies [Abstract]  
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES
Basis of presentation. As permitted by the rules and regulations of the Securities and Exchange Commission (“SEC”), certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) have been condensed or omitted. These consolidated financial statements should be read in conjunction with the Company’s 2023 annual consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023.

In the opinion of management, the accompanying unaudited consolidated financial statements contain all adjustments, which include only normal recurring adjustments, necessary to present fairly the Company’s interim financial statements. The results for such periods are not necessarily indicative of the results to be expected for the full year.

Principles of consolidation. The Company evaluates entities for which control is achieved through means other than voting rights to determine if it is the primary beneficiary of a variable interest entity (“VIE”). The Company consolidates its investment in a VIE when it determines that it is its primary beneficiary. Bellagio BREIT Venture (the landlord of Bellagio, which is a venture in which the Company has a 5% ownership interest) and Osaka IR KK are VIEs in which the Company is not the primary beneficiary because it does not have power on its own to direct the activities that could potentially be significant to the ventures and, accordingly, does not consolidate the ventures. The Company may change its original assessment of a VIE upon subsequent events such as the modification of contractual arrangements that affect the characteristics or adequacy of the entity’s equity investments at risk and the disposition of all or a portion of an interest held by the primary beneficiary. The Company performs this analysis on an ongoing basis.

For entities determined not to be a VIE, the Company consolidates such entities in which the Company owns 100% of the equity. For entities in which the Company owns less than 100% of the equity interest, the Company consolidates the
entity under the voting interest model if it has a controlling financial interest based upon the terms of the respective entities’ ownership agreements, such as MGM China. For these entities, the Company records a noncontrolling interest in the consolidated balance sheets and all intercompany balances and transactions are eliminated in consolidation. If the entity does not qualify for consolidation under the voting interest model and the Company has significant influence over the operating and financial decisions of the entity, the Company generally accounts for the entity under the equity method, such as BetMGM, which does not qualify for consolidation as the Company has joint control, given the entity is structured with substantive participating rights whereby both owners participate in the decision making process, which prevents the Company from exerting a controlling financial interest in such entity, as defined in Accounting Standards Codification (“ASC”) 810. For entities over which the Company does not have significant influence, the Company accounts for its equity investment under ASC 321.
Reclassifications. Certain reclassifications have been made to conform the prior period presentation.

Fair value measurements. Fair value measurements affect the Company’s accounting and impairment assessments of its long-lived assets, investments in unconsolidated affiliates or equity interests, assets acquired, and liabilities assumed in an acquisition, and goodwill and other intangible assets. Fair value measurements also affect the Company’s accounting for certain of its financial assets and liabilities. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date and is measured according to a hierarchy that includes: Level 1 inputs, such as quoted prices in an active market; Level 2 inputs, which are quoted prices for identical or comparable instruments or pricing using observable market data; or Level 3 inputs, which are unobservable inputs. The Company used the following inputs in its fair value measurements:

•Level 1 inputs when measuring its equity investments recorded at fair value;
•Level 2 inputs for its long-term debt fair value disclosures; See Note 5;
•Level 2 inputs for its derivatives, and
•Level 1 and Level 2 inputs for its debt investments.

Equity investments. Fair value is measured based upon trading prices on the applicable securities exchange for equity investments for which the Company has elected the fair value option of ASC 825 and equity investments accounted for under ASC 321 that have a readily determinable fair value. The fair value of these investments was $433 million and $435 million as of September 30, 2024 and December 31, 2023, respectively, and is reflected within “Other long-term assets, net” on the consolidated balance sheets. Gains and losses are recorded in “Other, net” in the statements of operations. For the three months ended September 30, 2024, the Company recorded a net gain on its equity investments of $48 million. For the nine months ended September 30, 2024, the Company recorded a net loss on its equity investments of $2 million. For the three and nine months ended September 30, 2023, the Company recorded a net loss on its equity investments of $57 million and $52 million, respectively.

Derivatives. The Company uses derivatives that are not designated for hedge accounting. The changes in fair value of these derivatives are recorded within “Other, net” in the statements of operations and within “Other” in operating activities in the statements of cash flows. The balance sheet classification of the derivatives in a current liability position are within “Other accrued liabilities,” a long-term liability position are within “Other long-term obligations,” a current asset position are within “Prepaid expenses and other,” and a long-term asset position are within “Other long-term assets, net.”

As of September 30, 2024, the Company has forward currency exchange contracts to manage its exposure to changes in foreign currency exchange rates. As of September 30, 2024, the fair value of derivatives classified as assets were $27 million, with $12 million in current assets and $15 million in long-term assets, and liabilities of $21 million, with $19 million in current liabilities and $2 million in long-term liabilities. As of December 31, 2023, the fair value of derivatives classified as assets were $10 million, with $1 million in current assets and $9 million in long-term assets, and liabilities of $17 million, with $8 million in current liabilities and $9 million in long-term liabilities.

For the three months ended September 30, 2024, the Company recorded a net gain on its derivatives of $87 million and for the nine months ended September 30, 2024, the Company recorded a net loss on its derivatives of $13 million.

Debt investments. The Company’s investments in debt securities are classified as trading securities and recorded at fair value. Gains and losses are recorded in “Other, net” in the statements of operations. Debt securities are considered cash equivalents if the criteria for such classification is met or otherwise classified as short-term investments within “Prepaid expenses and other” since the investment of cash is available for current operations.
The following table presents information regarding the Company’s debt investments:

Fair value levelSeptember 30, 2024December 31, 2023
(In thousands)
Cash and cash equivalents:
Money market funds
Level 1
$217,131 $18,828 
Cash and cash equivalents
217,131 18,828 
Short-term investments:
U.S. government securitiesLevel 15,978 37,805 
U.S. agency securitiesLevel 2— 9,804 
Corporate bondsLevel 2189,242 364,926 
Asset-backed securities
Level 2
4,415 7,170 
Short-term investments
199,635 419,705 
Total debt investments
$416,766 $438,533 

Cash and cash equivalents. Cash and cash equivalents consist of cash and highly liquid investments with maturities of 90 days or less at the date of purchase. The fair value of cash and cash equivalents approximates carrying value because of the short maturity of those instruments (Level 1).

Restricted cash. MGM China’s pledged cash of $87 million for each of September 30, 2024 and December 31, 2023, securing the bank guarantees discussed in Note 8 is restricted in use and classified within “Other long-term assets, net.” Such amounts plus “Cash and cash equivalents” on the consolidated balance sheets equal “Cash, cash equivalents, and restricted cash” on the consolidated statements of cash flows as of September 30, 2024 and December 31, 2023.

Accounts receivable. As of September 30, 2024 and December 31, 2023, the loss reserve on accounts receivable was $145 million and $130 million, respectively.

Note receivable. In February 2023, the secured note receivable related to the sale of Circus Circus Las Vegas and the adjacent land was repaid, prior to maturity, for $170 million, which approximated its carrying value on the date of repayment.

Accounts payable. As of September 30, 2024 and December 31, 2023, the Company had accrued $90 million and $84 million, respectively, for purchases of property and equipment within “Accounts and construction payable” on the consolidated balance sheets.

Revenue recognition. Contract and Contract-Related Liabilities. There may be a difference between the timing of cash receipts from the customer and the recognition of revenue, resulting in a contract or contract-related liability. The Company generally has three types of liabilities related to contracts with customers: (1) outstanding chip liability, which represents the amounts owed in exchange for gaming chips held by a customer, (2) loyalty program obligations, which represents the deferred allocation of revenue relating to loyalty program incentives earned, and (3) customer advances and other, which is primarily funds deposited by customers before gaming play occurs (“casino front money”) and advance payments on goods and services yet to be provided, such as advance ticket sales and deposits on rooms and convention space or for unpaid wagers. These liabilities are generally expected to be recognized as revenue within one year of being purchased, earned, or deposited and are recorded within “Other accrued liabilities” on the consolidated balance sheets.
The following table summarizes the activity related to contract and contract-related liabilities:

 Outstanding Chip LiabilityLoyalty ProgramCustomer Advances and Other
 2024 20232024 20232024 2023
 (In thousands)
Balance at January 1$211,606 $185,669 $201,973 $183,602 $766,226 $816,376 
Balance at September 30171,502 185,615 213,330 204,333 795,489 847,572 
Increase / (decrease)$(40,104)$(54)$11,357 $20,731 $29,263 $31,196 

The January 1, 2023 balances exclude liabilities related to assets held for sale related to Gold Strike Tunica.

Revenue by source. The Company presents the revenue earned disaggregated by the type or nature of the good or service (casino, room, food and beverage, and entertainment, retail and other) and by relevant geographic region within Note 11.

Leases. Refer to Note 7 for information regarding leases under which the Company is a lessee. The Company is a lessor under certain other lease arrangements. Lease revenues earned by the Company from third parties are classified within the line item corresponding to the type or nature of the tenant’s good or service. For the three and nine months ended September 30, 2024, lease revenues from third-party tenants include $21 million and $62 million recorded within food and beverage revenue, respectively and $28 million and $86 million recorded within entertainment, retail, and other revenue for the same such periods, respectively. For the three and nine months ended September 30, 2023, lease revenues from third-party tenants include $20 million and $57 million recorded within food and beverage revenue, respectively and $27 million and $86 million recorded within entertainment, retail, and other revenue for the same such periods, respectively. Lease revenues from the rental of hotel rooms are recorded as rooms revenues within the consolidated statements of operations.

Redeemable noncontrolling interest. Noncontrolling interests with redemption features, such as put rights, that are not exclusively in the Company’s control, are considered redeemable noncontrolling interests. Redeemable noncontrolling interests are presented outside of stockholders’ equity within the mezzanine section of the accompanying consolidated balance sheets. The interests are initially accounted for at fair value and subsequently adjusted to the greater of the redemption value and carrying value (initial fair value adjusted for attributed net income (loss) and distributions, as applicable). The Company records such adjustments to retained earnings, to the extent available, with any residual amount applied against capital in excess of par value.

During the nine months ended September 30, 2023, the Company purchased $138 million of interests from its redeemable noncontrolling interest parties.
v3.24.3
ACQUISITIONS AND DIVESTITURES
 9 Months Ended
Sep. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
ACQUISITIONS AND DIVESTITURES ACQUISITIONS AND DIVESTITURES
Push Gaming acquisition. On August 31, 2023, LeoVegas acquired 86% of digital gaming developer, Push Gaming Holding Limited (“Push Gaming”) for total consideration of $146 million, which was allocated to $126 million of goodwill and $40 million of amortizable intangible assets.
Gold Strike Tunica. On February 15, 2023, the Company completed the sale of the operations of Gold Strike Tunica to CNE Gaming Holdings, LLC, a subsidiary of Cherokee Nation Business, for cash consideration of $450 million, or $474 million, net of purchase price adjustments and transaction costs. At closing, the master lease between the Company and VICI was amended to remove Gold Strike Tunica and to reflect a $40 million reduction in annual cash rent. The Company recognized a $399 million gain recorded within “Property transactions, net.” The gain reflects the net cash consideration less the net carrying value of the assets and liabilities derecognized of $75 million.
v3.24.3
INVESTMENTS IN AND ADVANCES TO UNCONSOLIDATED AFFILIATES
 9 Months Ended
Sep. 30, 2024
Equity Method Investments and Joint Ventures [Abstract]  
INVESTMENTS IN AND ADVANCES TO UNCONSOLIDATED AFFILIATES INVESTMENTS IN AND ADVANCES TO UNCONSOLIDATED AFFILIATES
Investments in and advances to unconsolidated affiliates were $414 million and $241 million as of September 30, 2024 and December 31, 2023, respectively. The Company’s share of losses of BetMGM in excess of its equity method investment balance is $44 million and $5 million as of September 30, 2024 and December 31, 2023, respectively.
The Company recorded its share of income (loss) from unconsolidated affiliates as follows:
 Three Months Ended
September 30,		Nine Months Ended
September 30,
 2024202320242023
 (In thousands)
Income (loss) from unconsolidated affiliates$7,989 $22,507 $(51,319)$(68,681)
Non-operating items from unconsolidated affiliates417 438 2,043 (1,187)
 $8,406 $22,945 $(49,276)$(69,868)

The following table summarizes information related to the Company’s share of operating income (loss) from unconsolidated affiliates:
 Three Months Ended
September 30,		Nine Months Ended
September 30,
 2024202320242023
 (In thousands)
BetMGM$3,211 $12,629 $(67,781)$(91,743)
Other4,778 9,878 16,462 23,062 
 $7,989 $22,507 $(51,319)$(68,681)
v3.24.3
LONG-TERM DEBT
 9 Months Ended
Sep. 30, 2024
Debt Disclosure [Abstract]  
LONG-TERM DEBT LONG-TERM DEBT
Long-term debt consisted of the following:
 September 30,
2024		 December 31,
2023
 (In thousands)
MGM China first revolving credit facility$353,743 $371,300 
5.375% MGM China senior notes, due 2024
— 750,000 
6.75% senior notes, due 2025
— 750,000 
5.75% senior notes, due 2025
675,000 675,000 
5.25% MGM China senior notes, due 2025
500,000 500,000 
5.875% MGM China senior notes, due 2026
750,000 750,000 
4.625% senior notes, due 2026
400,000 400,000 
5.5% senior notes, due 2027
675,000 675,000 
4.75% MGM China senior notes, due 2027
750,000 750,000 
4.75% senior notes, due 2028
750,000 750,000 
6.125% senior notes, due 2029
850,000 — 
7.125% MGM China senior notes, due 2031
500,000 — 
6.5% senior notes, due 2032
750,000 — 
7% debentures, due 2036
552 552 
 6,954,295 6,371,852 
Less: Unamortized discounts and debt issuance costs, net
(45,020)(28,042)
6,909,275 6,343,810 
Less: Current portion
(675,000)— 
$6,234,275 $6,343,810 
MGM China’s 5.25% senior notes due within one year of the September 30, 2024 balance sheet was classified as long-term as MGM China has both the intent and ability to refinance the notes on a long-term basis under its revolving credit facilities.

Senior secured credit facility. In February 2024, the Company amended its senior secured credit facility to increase the facility to $2.3 billion and extend the maturity date to February 2029. At September 30, 2024, no amounts were drawn.

The Company’s senior secured credit facility contains customary representations and warranties, events of default and positive and negative covenants. The Company was in compliance with its credit facility covenants at September 30, 2024.

MGM China first revolving credit facility. At September 30, 2024, the MGM China first revolving credit facility consisted of a HK$9.75 billion (approximately $1.3 billion) unsecured revolving credit facility, which matures in May 2026, and had a weighted average interest rate of 6.82%.

The MGM China first revolving credit facility contains customary representations and warranties, events of default, and positive, negative and financial covenants, including that MGM China maintains compliance with a maximum leverage ratio and a minimum interest coverage ratio. The financial covenants under the MGM China first revolving credit facility are waived through December 31, 2024 and become effective beginning on March 31, 2025. MGM China was in compliance with its applicable MGM China first revolving credit facility covenants at September 30, 2024.

MGM China second revolving credit facility. At September 30, 2024, the MGM China second revolving credit facility consisted of a HK$5.85 billion (approximately $753 million) unsecured revolving credit facility. The option to increase the amount of the facility was further exercised in May 2024, increasing the facility by HK$1.26 billion (approximately $161 million) to its full capacity of HK$5.85 billion. At September 30, 2024, no amounts were drawn on the MGM China second revolving credit facility.

The MGM China second revolving credit facility contains customary representations and warranties, events of default, and positive, negative and financial covenants, including that MGM China maintains compliance with a maximum leverage ratio and a minimum interest coverage ratio. The financial covenants under the MGM China second revolving credit facility are waived through December 31, 2024 and become effective beginning on March 31, 2025. MGM China was in compliance with its applicable MGM China second revolving credit facility covenants at September 30, 2024.

Senior notes. In September 2024, the Company issued $850 million in aggregate principal amount of 6.125% notes due 2029. The Company used the net proceeds from the offering to fund the early redemption of its $675 million in aggregate principal amount of 5.75% notes due 2025 at a redemption price of 100.607% in October 2024, with the remainder primarily used for general corporate purposes.

In April 2024, the Company issued $750 million in aggregate principal amount of 6.5% notes due 2032. The Company used the net proceeds from the offering to fund the early redemption of its $750 million in aggregate principal amount of 6.75% notes due 2025 in May 2024.

In March 2023, the Company repaid its $1.25 billion 6% notes due 2023 upon maturity.

MGM China senior notes. In June 2024, MGM China issued $500 million in aggregate principal amount of 7.125% notes due 2031.

In May 2024, MGM China repaid its $750 million in aggregate principal amount of 5.375% notes due 2024.

LeoVegas senior notes. In August 2023, LeoVegas repaid its outstanding senior unsecured notes totaling $36 million.

Fair value of long-term debt. The estimated fair value of the Company’s long-term debt was $6.9 billion and $6.3 billion at September 30, 2024 and December 31, 2023, respectively.
v3.24.3
INCOME TAXES
 9 Months Ended
Sep. 30, 2024
Income Tax Disclosure [Abstract]  
INCOME TAXES INCOME TAXES
For interim income tax reporting the Company estimates its annual effective tax rate and applies it to its year-to-date ordinary income. The tax effects of unusual or infrequently occurring items, including changes in judgment about valuation allowances and effects of changes in tax laws or rates, are reported in the interim period in which they occur. The Company’s effective income tax rate was 17.7% and 9.3% for the three and nine months ended September 30, 2024, respectively, compared to 5.5% and 18.9% for the three and nine months ended September 30, 2023, respectively.

On January 29, 2024, MGM Grand Paradise was granted an extension of its exemption from the Macau 12% complementary tax on gaming profits for the period of January 1, 2023 through December 31, 2027.

The Company recognizes deferred income tax assets, net of applicable reserves, related to net operating losses, tax credit carryforwards and certain temporary differences. The Company recognizes future tax benefits to the extent that realization of such benefit is more likely than not. Otherwise, a valuation allowance is applied.
v3.24.3
LEASES
 9 Months Ended
Sep. 30, 2024
Leases [Abstract]  
LEASES LEASES
The Company leases real estate, land underlying certain of its properties, and various equipment under operating and, to a lesser extent, finance lease arrangements.

Other information. Components of lease costs and other information related to the Company’s leases are:
 Three Months Ended
September 30,		Nine Months Ended
September 30,
 2024202320242023
 (In thousands)
Operating lease cost, primarily classified within “General and administrative”(1)
$575,293 $575,112 $1,725,494 $1,731,572 
Finance lease costs
Interest expense$8,891 $2,484 $27,701 $7,005 
Amortization expense14,755 17,030 40,711 51,869 
Total finance lease costs$23,646 $19,514 $68,412 $58,874 
(1)Operating lease cost includes $83 million for each of the three months ended September 30, 2024 and 2023 and $248 million for each of the nine months ended September 30, 2024 and 2023 related to the Bellagio lease, which is held with a related party.
 September 30,
2024		December 31,
2023
(In thousands)
Operating leases
Operating lease ROU assets, net(1)
$23,658,647 $24,027,465 
Operating lease liabilities - current, classified within “Other accrued liabilities”
$88,364 $74,988 
Operating lease liabilities - long-term(2)
25,092,217 25,127,464 
Total operating lease liabilities$25,180,581 $25,202,452 
Finance leases
Finance lease ROU assets, net, classified within “Property and equipment, net”
$320,200 $85,783 
Finance lease liabilities - current, classified within “Other accrued liabilities”
$71,455 $9,166 
Finance lease liabilities - long-term, classified within “Other long-term obligations”
259,464 85,391 
Total finance lease liabilities$330,919 $94,557 
Weighted average remaining lease term (years)
Operating leases2525
Finance leases822
Weighted average discount rate (%)
Operating leases7 7 
Finance leases6 6 
(1)As of September 30, 2024 and December 31, 2023, operating lease right-of-use assets, net included $3.4 billion and $3.5 billion related to the Bellagio lease, respectively.
(2)As of September 30, 2024 and December 31, 2023, operating lease liabilities – long-term included $3.8 billion related to the Bellagio lease. As of September 30, 2024, operating lease liabilities – current included $2 million related to the Bellagio lease.

 Nine Months Ended
September 30,
 20242023
Cash paid for amounts included in the measurement of lease liabilities(In thousands)
Operating cash outflows from operating leases$1,377,717 $1,350,828 
Operating cash outflows from finance leases11,389 4,917 
Financing cash outflows from finance leases(1)
38,745 53,211 
ROU assets obtained in exchange for new lease liabilities
Operating leases$5,079 $12,347 
Finance leases272,878 518 
(1)Included within “Other” within “Cash flows from financing activities” on the consolidated statements of cash flows.
Maturities of lease liabilities were as follows:
 Operating Leases  Finance Leases
Year ending December 31, (In thousands)
2024 (excluding the nine months ended September 30, 2024)$459,142 $25,229 
20251,864,318 84,460 
20261,889,911 81,026 
20271,917,382 80,708 
20281,945,374 29,445 
Thereafter48,944,154 128,248 
Total future minimum lease payments57,020,281 429,116 
Less: Amount of lease payments representing interest(31,839,700)(98,197)
Present value of future minimum lease payments25,180,581 330,919 
Less: Current portion(88,364)(71,455)
Long-term portion of lease liabilities$25,092,217 $259,464 
LEASES LEASES
The Company leases real estate, land underlying certain of its properties, and various equipment under operating and, to a lesser extent, finance lease arrangements.

Other information. Components of lease costs and other information related to the Company’s leases are:
 Three Months Ended
September 30,		Nine Months Ended
September 30,
 2024202320242023
 (In thousands)
Operating lease cost, primarily classified within “General and administrative”(1)
$575,293 $575,112 $1,725,494 $1,731,572 
Finance lease costs
Interest expense$8,891 $2,484 $27,701 $7,005 
Amortization expense14,755 17,030 40,711 51,869 
Total finance lease costs$23,646 $19,514 $68,412 $58,874 
(1)Operating lease cost includes $83 million for each of the three months ended September 30, 2024 and 2023 and $248 million for each of the nine months ended September 30, 2024 and 2023 related to the Bellagio lease, which is held with a related party.
 September 30,
2024		December 31,
2023
(In thousands)
Operating leases
Operating lease ROU assets, net(1)
$23,658,647 $24,027,465 
Operating lease liabilities - current, classified within “Other accrued liabilities”
$88,364 $74,988 
Operating lease liabilities - long-term(2)
25,092,217 25,127,464 
Total operating lease liabilities$25,180,581 $25,202,452 
Finance leases
Finance lease ROU assets, net, classified within “Property and equipment, net”
$320,200 $85,783 
Finance lease liabilities - current, classified within “Other accrued liabilities”
$71,455 $9,166 
Finance lease liabilities - long-term, classified within “Other long-term obligations”
259,464 85,391 
Total finance lease liabilities$330,919 $94,557 
Weighted average remaining lease term (years)
Operating leases2525
Finance leases822
Weighted average discount rate (%)
Operating leases7 7 
Finance leases6 6 
(1)As of September 30, 2024 and December 31, 2023, operating lease right-of-use assets, net included $3.4 billion and $3.5 billion related to the Bellagio lease, respectively.
(2)As of September 30, 2024 and December 31, 2023, operating lease liabilities – long-term included $3.8 billion related to the Bellagio lease. As of September 30, 2024, operating lease liabilities – current included $2 million related to the Bellagio lease.

 Nine Months Ended
September 30,
 20242023
Cash paid for amounts included in the measurement of lease liabilities(In thousands)
Operating cash outflows from operating leases$1,377,717 $1,350,828 
Operating cash outflows from finance leases11,389 4,917 
Financing cash outflows from finance leases(1)
38,745 53,211 
ROU assets obtained in exchange for new lease liabilities
Operating leases$5,079 $12,347 
Finance leases272,878 518 
(1)Included within “Other” within “Cash flows from financing activities” on the consolidated statements of cash flows.
Maturities of lease liabilities were as follows:
 Operating Leases  Finance Leases
Year ending December 31, (In thousands)
2024 (excluding the nine months ended September 30, 2024)$459,142 $25,229 
20251,864,318 84,460 
20261,889,911 81,026 
20271,917,382 80,708 
20281,945,374 29,445 
Thereafter48,944,154 128,248 
Total future minimum lease payments57,020,281 429,116 
Less: Amount of lease payments representing interest(31,839,700)(98,197)
Present value of future minimum lease payments25,180,581 330,919 
Less: Current portion(88,364)(71,455)
Long-term portion of lease liabilities$25,092,217 $259,464 
v3.24.3
COMMITMENTS AND CONTINGENCIES
 9 Months Ended
Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]  
COMMITMENTS AND CONTINGENCIES COMMITMENTS AND CONTINGENCIES
Cybersecurity litigation, claims, and investigations. In September 2023, through unauthorized access to certain of its U.S. systems, third-party criminal actors accessed, for some of the Company’s customers, personal information (including name, contact information (such as phone number, email address and postal address), gender, date of birth and driver’s license numbers). For a limited number of customers, Social Security numbers and passport numbers were also accessed by the criminal actors. The Company has notified individuals impacted by this issue in accordance with federal and state law.

In connection with this cybersecurity issue, the Company became subject to consumer class actions in U.S. federal and state courts. These class actions assert a variety of common law and statutory claims based on allegations that the Company failed to use reasonable security procedures and practices to safeguard customers’ personal information, and seek monetary and statutory damages, injunctive relief and other related relief. In addition, the Company is the subject of investigations by state and federal regulators, which also could result in monetary fines and other relief. The Company cannot predict the timing or outcome of any of these potential matters, or whether the Company may be subject to additional legal proceedings, claims, regulatory inquiries, investigations, or enforcement actions. While the Company believes it is reasonably possible that it may incur losses associated with the above-described proceedings, it is not possible to estimate the amount of loss or range of loss, if any, that might result from adverse judgments, settlements, or other resolution given the preliminary stage of these proceedings. The Company has incurred, and expects to continue to incur, certain expenses related to the cybersecurity issue, including expenses to respond to, remediate, and investigate this matter. The full scope of the costs and related impacts of this issue, including the extent to which all of the costs will be offset by cybersecurity insurance, has not been determined.

Other litigation. The Company is a party to various other legal proceedings, most of which relate to routine matters incidental to its business. Management does not believe that the outcome of such proceedings will have a material adverse effect on the Company’s financial position, results of operations or cash flows.

MGM China bank guarantees. In connection with the issuance of the gaming concession in January 2023, bank guarantees were provided to the government of Macau in the amount of MOP 1 billion (approximately $125 million as of September 30, 2024) to warrant the fulfillment of labor liabilities and of damages or losses that may result if there is noncompliance with the concession. The guarantees expire 180 days after the end of the concession term. As of September 30, 2024, MOP 700 million of the bank guarantees (approximately $87 million as of September 30, 2024) were secured by pledged cash.

Shortfall guarantees. The Company provides shortfall guarantees of the $3.01 billion principal amount of indebtedness (and any interest accrued and unpaid thereon) of Bellagio BREIT Venture, the landlord of Bellagio, which matures in 2029, and of the $3.0 billion principal amount of indebtedness (and any interest accrued and unpaid thereon) of the landlords of Mandalay Bay and MGM Grand Las Vegas, which matures in 2032 and has an anticipated repayment date of March 2030. The terms of the shortfall guarantees provide that after the lenders have exhausted certain remedies to collect on the obligations under the indebtedness, the Company would then be responsible for any shortfall between the
value of the collateral, which is the real estate assets of the applicable property owned by the landlord, and the debt obligation. The guarantees are accounted for under ASC 460 at fair value; such value is immaterial.

MGM/Osaka IR KK guarantees. The Company provides for guarantees (1) in the amount of 12.65 billion yen (approximately $88 million as of September 30, 2024) for 50% of Osaka IR KK’s obligations to Osaka under various agreements related to the venture’s development of an integrated resort in Osaka, Japan and (2) of an uncapped amount to provide funding to Osaka IR KK, if necessary, for the completion of the construction and full opening of the integrated resort. The guarantees expire when the obligations relating to the full opening of the integrated resort are fulfilled. The guarantees are accounted for under ASC 460 at fair value; such value is immaterial. Additionally, the Company’s ownership interest in Osaka IR KK, which had a carrying value of $302 million as of September 30, 2024, is pledged as collateral for Osaka IR KK’s obligations under its credit agreement.

MGM/Osaka IR KK funding commitment. The Company has commitments to fund Osaka IR KK for its proportionate share of the unfinanced portion of Osaka IR KK’s development project, of which approximately 271 billion yen (approximately $1.9 billion as of September 30, 2024) remains to be funded as of September 30, 2024. The amount and timing of funding is subject to change based upon inflation, the progress and scope of the development, and other factors, which may increase the funding. During the three and nine months ended September 30, 2024, the Company funded 22.2 billion yen (approximately $138 million) and 25.2 billion yen (approximately $157 million), respectively, of the committed amount to Osaka IR KK. During the three and nine months ended September 30, 2023, the Company funded 10.3 billion yen (approximately $69 million) of the committed amount to Osaka IR KK.
Other guarantees. The Company and its subsidiaries are party to various guarantee contracts in the normal course of business, which are generally supported by letters of credit issued by financial institutions. The Company’s senior credit facility limits the amount of letters of credit that can be issued to $1.35 billion. At September 30, 2024, $28 million in letters of credit were outstanding under the Company’s senior credit facility. The amount of available borrowings under the credit facility is reduced by any outstanding letters of credit.
v3.24.3
EARNINGS PER SHARE
 9 Months Ended
Sep. 30, 2024
Earnings Per Share [Abstract]  
EARNINGS PER SHARE EARNINGS PER SHARE
The table below reconciles basic and diluted earnings per share of common stock. Diluted weighted-average common and common equivalent shares include adjustments for potential dilution of stock-based awards outstanding under the Company’s stock compensation plan. Antidilutive share-based awards excluded from the diluted earnings per share calculation are not material.
 Three Months Ended
September 30,		Nine Months Ended
September 30,
 2024202320242023
 (In thousands)
Numerator:  
Net income attributable to MGM Resorts International$184,578 $161,117 $589,126 $828,720 
Adjustment related to redeemable noncontrolling interests(216)(34)14 1,376 
Net income attributable to common stockholders – basic and diluted$184,362 $161,083 $589,140 $830,096 
Denominator:
Weighted-average common shares outstanding – basic300,499 347,345 310,688 360,732 
Potential dilution from stock-based awards
2,980 4,045 3,164 4,115 
Weighted-average common and common equivalent shares – diluted303,479 351,390 313,852 364,847 
v3.24.3
STOCKHOLDERS’ EQUITY
 9 Months Ended
Sep. 30, 2024
Equity [Abstract]  
STOCKHOLDERS’ EQUITY STOCKHOLDERS’ EQUITY
MGM Resorts International stock repurchases. In March 2022, the Company announced that the Board of Directors authorized a $2.0 billion stock repurchase plan, in February 2023, the Company announced that the Board of Directors authorized a $2.0 billion stock repurchase plan and, in November 2023, the Company announced that the Board of Directors authorized a $2.0 billion stock repurchase plan. Under these stock repurchase plans, the Company may repurchase shares from time to time in the open market or in privately negotiated agreements. Repurchases of common stock may also be made under a Rule 10b5-1 plan, which would permit common stock to be repurchased when the Company might otherwise be precluded from doing so under insider trading laws. The timing, volume and nature of stock
repurchases will be at the sole discretion of management, dependent on market conditions, applicable securities laws, and other factors, and may be suspended or discontinued at any time.

During the three months ended September 30, 2023, the Company repurchased approximately 13 million shares of its common stock for an aggregate amount of $572 million. During the nine months ended September 30, 2023, the Company repurchased approximately 39 million shares of its common stock for an aggregate amount of $1.7 billion. In connection with these repurchases, the March 2022 stock repurchase plan was completed. Repurchased shares were retired.

During the three months ended September 30, 2024, the Company repurchased approximately 8 million shares of its common stock for an aggregate amount of $326 million. During the nine months ended September 30, 2024, the Company repurchased approximately 30 million shares of its common stock for an aggregate amount of $1.3 billion. In connection with these repurchases, the February 2023 stock repurchase plan was completed. Repurchased shares were retired. The remaining availability under the November 2023 $2.0 billion stock repurchase plan was $946 million as of September 30, 2024.
v3.24.3
SEGMENT INFORMATION
 9 Months Ended
Sep. 30, 2024
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
The Company’s management views each of its casino properties as an operating segment. Operating segments are aggregated based on their similar economic characteristics, types of customers, types of services and products provided, the regulatory environments in which they operate and their management and reporting structure. The Company has aggregated its operating segments into the following reportable segments: Las Vegas Strip Resorts, Regional Operations and MGM China.

Las Vegas Strip Resorts. Las Vegas Strip Resorts consists of the following casino resorts in Las Vegas, Nevada: Aria (including Vdara), Bellagio, The Cosmopolitan, MGM Grand Las Vegas (including The Signature), Mandalay Bay (including Delano and Four Seasons), Luxor, New York-New York (including The Park), Excalibur, and Park MGM (including NoMad Las Vegas).

Regional Operations. Regional Operations consists of the following casino properties: MGM Grand Detroit in Detroit, Michigan; Beau Rivage in Biloxi, Mississippi; Gold Strike Tunica in Tunica, Mississippi (until its disposition in February 2023); Borgata in Atlantic City, New Jersey; MGM National Harbor in Prince George’s County, Maryland; MGM Springfield in Springfield, Massachusetts; Empire City in Yonkers, New York; and MGM Northfield Park in Northfield Park, Ohio.

MGM China. MGM China consists of MGM Macau and MGM Cotai.

The Company’s operations related to LeoVegas, investments in unconsolidated affiliates, and certain other corporate operations and management services have not been identified as separate reportable segments; therefore, these operations are included in “Corporate and other” in the following segment disclosures to reconcile to consolidated results.

Adjusted Property EBITDAR is the Company’s reportable segment GAAP measure, which management utilizes as the primary profit measure for its reportable segments and underlying operating segments. Adjusted Property EBITDAR is a measure defined as earnings before interest and other non-operating income (expense), taxes, depreciation and amortization, preopening and start-up expenses, property transactions, net, rent expense related to triple-net operating leases and ground leases, income from unconsolidated affiliates related to investments in real estate ventures, and also excludes corporate expense and stock compensation expense, which are not allocated to each operating segment.
The following tables present the Company’s segment information:
Three Months Ended
September 30,		Nine Months Ended
September 30,
 202420232024 2023
 (In thousands)
Net revenue
Las Vegas Strip Resorts
Casino$476,434 $546,273 $1,458,721 $1,539,048 
Rooms743,261 694,554 2,337,808 2,152,960 
Food and beverage574,587 545,850 1,798,109 1,727,248 
Entertainment, retail and other337,931 319,162 998,066 1,009,385 
2,132,213 2,105,839 6,592,704 6,428,641 
Regional Operations
Casino692,654 678,565 2,061,659 2,074,972 
Rooms88,275 85,267 232,740 229,500 
Food and beverage116,378 107,952 336,037 331,322 
Entertainment, retail and other, and reimbursed costs54,841 53,173 158,329 161,106 
952,148 924,957 2,788,765 2,796,900 
MGM China
Casino800,208 713,961 2,611,497 1,938,891 
Rooms52,029 47,270 168,415 108,442 
Food and beverage64,356 44,460 192,716 105,058 
Entertainment, retail and other12,863 6,834 31,036 18,681 
929,456 812,525 3,003,664 2,171,072 
Reportable segment net revenues4,013,817 3,843,321 12,385,133 11,396,613 
Corporate and other169,321 129,862 508,850 392,073 
 $4,183,138 $3,973,183 $12,893,983 $11,788,686 

Three Months Ended
September 30,		Nine Months Ended
September 30,
2024202320242023
(In thousands)
Adjusted Property EBITDAR
Las Vegas Strip Resorts$731,037 $714,086 $2,341,114 $2,326,424 
Regional Operations 299,985 293,257 862,465 900,199 
MGM China237,356 226,117 832,405 604,454 
Reportable segment Adjusted Property EBITDAR1,268,378 1,233,460 4,035,984 3,831,077 
 
Other operating income (expense)
Corporate and other, net(132,444)(87,946)(468,740)(437,193)
Preopening and start-up expenses(519)(68)(2,469)(356)
Property transactions, net (25,493)(12,227)(59,124)378,235 
Depreciation and amortization(233,330)(201,827)(621,868)(608,831)
Triple-net operating lease and ground lease rent expense(564,436)(564,154)(1,692,961)(1,698,867)
Income from unconsolidated affiliates related to real estate ventures2,701 2,698 8,069 8,088 
Operating income314,857 369,936 1,198,891 1,472,153 
Non-operating income (expense)
Interest expense, net of amounts capitalized(111,873)(111,170)(334,649)(353,415)
Non-operating items from unconsolidated affiliates417 438 2,043 (1,187)
Other, net93,333 (34,879)45,096 35,121 
(18,123)(145,611)(287,510)(319,481)
Income before income taxes296,734 224,325 911,381 1,152,672 
Provision for income taxes(52,570)(12,440)(84,689)(217,360)
Net income244,164 211,885 826,692 935,312 
Less: Net income attributable to noncontrolling interests(59,586)(50,768)(237,566)(106,592)
Net income attributable to MGM Resorts International$184,578 $161,117 $589,126 $828,720 
v3.24.3
Pay vs Performance Disclosure - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Pay vs Performance Disclosure        
Net Income (Loss) $ 184,578 $ 161,117 $ 589,126 $ 828,720
v3.24.3
Insider Trading Arrangements
 3 Months Ended
Sep. 30, 2024
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.24.3
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies)
 9 Months Ended
Sep. 30, 2024
Accounting Policies [Abstract]  
Basis of presentation
Basis of presentation. As permitted by the rules and regulations of the Securities and Exchange Commission (“SEC”), certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) have been condensed or omitted. These consolidated financial statements should be read in conjunction with the Company’s 2023 annual consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023.

In the opinion of management, the accompanying unaudited consolidated financial statements contain all adjustments, which include only normal recurring adjustments, necessary to present fairly the Company’s interim financial statements. The results for such periods are not necessarily indicative of the results to be expected for the full year.
Principles of consolidation
Principles of consolidation. The Company evaluates entities for which control is achieved through means other than voting rights to determine if it is the primary beneficiary of a variable interest entity (“VIE”). The Company consolidates its investment in a VIE when it determines that it is its primary beneficiary. Bellagio BREIT Venture (the landlord of Bellagio, which is a venture in which the Company has a 5% ownership interest) and Osaka IR KK are VIEs in which the Company is not the primary beneficiary because it does not have power on its own to direct the activities that could potentially be significant to the ventures and, accordingly, does not consolidate the ventures. The Company may change its original assessment of a VIE upon subsequent events such as the modification of contractual arrangements that affect the characteristics or adequacy of the entity’s equity investments at risk and the disposition of all or a portion of an interest held by the primary beneficiary. The Company performs this analysis on an ongoing basis.

For entities determined not to be a VIE, the Company consolidates such entities in which the Company owns 100% of the equity. For entities in which the Company owns less than 100% of the equity interest, the Company consolidates the
entity under the voting interest model if it has a controlling financial interest based upon the terms of the respective entities’ ownership agreements, such as MGM China. For these entities, the Company records a noncontrolling interest in the consolidated balance sheets and all intercompany balances and transactions are eliminated in consolidation. If the entity does not qualify for consolidation under the voting interest model and the Company has significant influence over the operating and financial decisions of the entity, the Company generally accounts for the entity under the equity method, such as BetMGM, which does not qualify for consolidation as the Company has joint control, given the entity is structured with substantive participating rights whereby both owners participate in the decision making process, which prevents the Company from exerting a controlling financial interest in such entity, as defined in Accounting Standards Codification (“ASC”) 810. For entities over which the Company does not have significant influence, the Company accounts for its equity investment under ASC 321.
Reclassifications
Reclassifications. Certain reclassifications have been made to conform the prior period presentation.
Fair value measurements
Fair value measurements. Fair value measurements affect the Company’s accounting and impairment assessments of its long-lived assets, investments in unconsolidated affiliates or equity interests, assets acquired, and liabilities assumed in an acquisition, and goodwill and other intangible assets. Fair value measurements also affect the Company’s accounting for certain of its financial assets and liabilities. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date and is measured according to a hierarchy that includes: Level 1 inputs, such as quoted prices in an active market; Level 2 inputs, which are quoted prices for identical or comparable instruments or pricing using observable market data; or Level 3 inputs, which are unobservable inputs. The Company used the following inputs in its fair value measurements:

•Level 1 inputs when measuring its equity investments recorded at fair value;
•Level 2 inputs for its long-term debt fair value disclosures; See Note 5;
•Level 2 inputs for its derivatives, and
•Level 1 and Level 2 inputs for its debt investments.

Equity investments. Fair value is measured based upon trading prices on the applicable securities exchange for equity investments for which the Company has elected the fair value option of ASC 825 and equity investments accounted for under ASC 321 that have a readily determinable fair value. The fair value of these investments was $433 million and $435 million as of September 30, 2024 and December 31, 2023, respectively, and is reflected within “Other long-term assets, net” on the consolidated balance sheets. Gains and losses are recorded in “Other, net” in the statements of operations. For the three months ended September 30, 2024, the Company recorded a net gain on its equity investments of $48 million. For the nine months ended September 30, 2024, the Company recorded a net loss on its equity investments of $2 million. For the three and nine months ended September 30, 2023, the Company recorded a net loss on its equity investments of $57 million and $52 million, respectively.

Derivatives. The Company uses derivatives that are not designated for hedge accounting. The changes in fair value of these derivatives are recorded within “Other, net” in the statements of operations and within “Other” in operating activities in the statements of cash flows. The balance sheet classification of the derivatives in a current liability position are within “Other accrued liabilities,” a long-term liability position are within “Other long-term obligations,” a current asset position are within “Prepaid expenses and other,” and a long-term asset position are within “Other long-term assets, net.”

As of September 30, 2024, the Company has forward currency exchange contracts to manage its exposure to changes in foreign currency exchange rates. As of September 30, 2024, the fair value of derivatives classified as assets were $27 million, with $12 million in current assets and $15 million in long-term assets, and liabilities of $21 million, with $19 million in current liabilities and $2 million in long-term liabilities. As of December 31, 2023, the fair value of derivatives classified as assets were $10 million, with $1 million in current assets and $9 million in long-term assets, and liabilities of $17 million, with $8 million in current liabilities and $9 million in long-term liabilities.

For the three months ended September 30, 2024, the Company recorded a net gain on its derivatives of $87 million and for the nine months ended September 30, 2024, the Company recorded a net loss on its derivatives of $13 million.

Debt investments. The Company’s investments in debt securities are classified as trading securities and recorded at fair value. Gains and losses are recorded in “Other, net” in the statements of operations. Debt securities are considered cash equivalents if the criteria for such classification is met or otherwise classified as short-term investments within “Prepaid expenses and other” since the investment of cash is available for current operations.
Cash and cash equivalents
Cash and cash equivalents. Cash and cash equivalents consist of cash and highly liquid investments with maturities of 90 days or less at the date of purchase. The fair value of cash and cash equivalents approximates carrying value because of the short maturity of those instruments (Level 1).
Restricted cash
Restricted cash. MGM China’s pledged cash of $87 million for each of September 30, 2024 and December 31, 2023, securing the bank guarantees discussed in Note 8 is restricted in use and classified within “Other long-term assets, net.” Such amounts plus “Cash and cash equivalents” on the consolidated balance sheets equal “Cash, cash equivalents, and restricted cash” on the consolidated statements of cash flows as of September 30, 2024 and December 31, 2023.
Note receivable Note receivable. In February 2023, the secured note receivable related to the sale of Circus Circus Las Vegas and the adjacent land was repaid, prior to maturity, for $170 million, which approximated its carrying value on the date of repayment.
Revenue recognition
Revenue recognition. Contract and Contract-Related Liabilities. There may be a difference between the timing of cash receipts from the customer and the recognition of revenue, resulting in a contract or contract-related liability. The Company generally has three types of liabilities related to contracts with customers: (1) outstanding chip liability, which represents the amounts owed in exchange for gaming chips held by a customer, (2) loyalty program obligations, which represents the deferred allocation of revenue relating to loyalty program incentives earned, and (3) customer advances and other, which is primarily funds deposited by customers before gaming play occurs (“casino front money”) and advance payments on goods and services yet to be provided, such as advance ticket sales and deposits on rooms and convention space or for unpaid wagers. These liabilities are generally expected to be recognized as revenue within one year of being purchased, earned, or deposited and are recorded within “Other accrued liabilities” on the consolidated balance sheets.
Leases
Leases. Refer to Note 7 for information regarding leases under which the Company is a lessee. The Company is a lessor under certain other lease arrangements. Lease revenues earned by the Company from third parties are classified within the line item corresponding to the type or nature of the tenant’s good or service. For the three and nine months ended September 30, 2024, lease revenues from third-party tenants include $21 million and $62 million recorded within food and beverage revenue, respectively and $28 million and $86 million recorded within entertainment, retail, and other revenue for the same such periods, respectively. For the three and nine months ended September 30, 2023, lease revenues from third-party tenants include $20 million and $57 million recorded within food and beverage revenue, respectively and $27 million and $86 million recorded within entertainment, retail, and other revenue for the same such periods, respectively. Lease revenues from the rental of hotel rooms are recorded as rooms revenues within the consolidated statements of operations.
Redeemable noncontrolling interest
Redeemable noncontrolling interest. Noncontrolling interests with redemption features, such as put rights, that are not exclusively in the Company’s control, are considered redeemable noncontrolling interests. Redeemable noncontrolling interests are presented outside of stockholders’ equity within the mezzanine section of the accompanying consolidated balance sheets. The interests are initially accounted for at fair value and subsequently adjusted to the greater of the redemption value and carrying value (initial fair value adjusted for attributed net income (loss) and distributions, as applicable). The Company records such adjustments to retained earnings, to the extent available, with any residual amount applied against capital in excess of par value.
v3.24.3
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Tables)
 9 Months Ended
Sep. 30, 2024
Accounting Policies [Abstract]  
Schedule of Debt Investments
The following table presents information regarding the Company’s debt investments:

Fair value levelSeptember 30, 2024December 31, 2023
(In thousands)
Cash and cash equivalents:
Money market funds
Level 1
$217,131 $18,828 
Cash and cash equivalents
217,131 18,828 
Short-term investments:
U.S. government securitiesLevel 15,978 37,805 
U.S. agency securitiesLevel 2— 9,804 
Corporate bondsLevel 2189,242 364,926 
Asset-backed securities
Level 2
4,415 7,170 
Short-term investments
199,635 419,705 
Total debt investments
$416,766 $438,533 
Schedule of Contract and Contract-related Liabilities
The following table summarizes the activity related to contract and contract-related liabilities:

 Outstanding Chip LiabilityLoyalty ProgramCustomer Advances and Other
 2024 20232024 20232024 2023
 (In thousands)
Balance at January 1$211,606 $185,669 $201,973 $183,602 $766,226 $816,376 
Balance at September 30171,502 185,615 213,330 204,333 795,489 847,572 
Increase / (decrease)$(40,104)$(54)$11,357 $20,731 $29,263 $31,196 
v3.24.3
INVESTMENTS IN AND ADVANCES TO UNCONSOLIDATED AFFILIATES (Tables)
 9 Months Ended
Sep. 30, 2024
Equity Method Investments and Joint Ventures [Abstract]  
Schedule of Share of Income (Loss) from Unconsolidated Affiliates
The Company recorded its share of income (loss) from unconsolidated affiliates as follows:
 Three Months Ended
September 30,		Nine Months Ended
September 30,
 2024202320242023
 (In thousands)
Income (loss) from unconsolidated affiliates$7,989 $22,507 $(51,319)$(68,681)
Non-operating items from unconsolidated affiliates417 438 2,043 (1,187)
 $8,406 $22,945 $(49,276)$(69,868)
Schedule of Share of Operating Income (Loss) from Unconsolidated Affiliates
The following table summarizes information related to the Company’s share of operating income (loss) from unconsolidated affiliates:
 Three Months Ended
September 30,		Nine Months Ended
September 30,
 2024202320242023
 (In thousands)
BetMGM$3,211 $12,629 $(67,781)$(91,743)
Other4,778 9,878 16,462 23,062 
 $7,989 $22,507 $(51,319)$(68,681)
v3.24.3
LONG-TERM DEBT (Tables)
 9 Months Ended
Sep. 30, 2024
Debt Disclosure [Abstract]  
Schedule of Long-term Debt
Long-term debt consisted of the following:
 September 30,
2024		 December 31,
2023
 (In thousands)
MGM China first revolving credit facility$353,743 $371,300 
5.375% MGM China senior notes, due 2024
— 750,000 
6.75% senior notes, due 2025
— 750,000 
5.75% senior notes, due 2025
675,000 675,000 
5.25% MGM China senior notes, due 2025
500,000 500,000 
5.875% MGM China senior notes, due 2026
750,000 750,000 
4.625% senior notes, due 2026
400,000 400,000 
5.5% senior notes, due 2027
675,000 675,000 
4.75% MGM China senior notes, due 2027
750,000 750,000 
4.75% senior notes, due 2028
750,000 750,000 
6.125% senior notes, due 2029
850,000 — 
7.125% MGM China senior notes, due 2031
500,000 — 
6.5% senior notes, due 2032
750,000 — 
7% debentures, due 2036
552 552 
 6,954,295 6,371,852 
Less: Unamortized discounts and debt issuance costs, net
(45,020)(28,042)
6,909,275 6,343,810 
Less: Current portion
(675,000)— 
$6,234,275 $6,343,810 
v3.24.3
LEASES (Tables)
 9 Months Ended
Sep. 30, 2024
Leases [Abstract]  
Schedule of Components of Lease Costs
Other information. Components of lease costs and other information related to the Company’s leases are:
 Three Months Ended
September 30,		Nine Months Ended
September 30,
 2024202320242023
 (In thousands)
Operating lease cost, primarily classified within “General and administrative”(1)
$575,293 $575,112 $1,725,494 $1,731,572 
Finance lease costs
Interest expense$8,891 $2,484 $27,701 $7,005 
Amortization expense14,755 17,030 40,711 51,869 
Total finance lease costs$23,646 $19,514 $68,412 $58,874 
(1)Operating lease cost includes $83 million for each of the three months ended September 30, 2024 and 2023 and $248 million for each of the nine months ended September 30, 2024 and 2023 related to the Bellagio lease, which is held with a related party.
 Nine Months Ended
September 30,
 20242023
Cash paid for amounts included in the measurement of lease liabilities(In thousands)
Operating cash outflows from operating leases$1,377,717 $1,350,828 
Operating cash outflows from finance leases11,389 4,917 
Financing cash outflows from finance leases(1)
38,745 53,211 
ROU assets obtained in exchange for new lease liabilities
Operating leases$5,079 $12,347 
Finance leases272,878 518 
(1)Included within “Other” within “Cash flows from financing activities” on the consolidated statements of cash flows.
Schedule of Supplemental Balance Sheet Information Related to Leases
 September 30,
2024		December 31,
2023
(In thousands)
Operating leases
Operating lease ROU assets, net(1)
$23,658,647 $24,027,465 
Operating lease liabilities - current, classified within “Other accrued liabilities”
$88,364 $74,988 
Operating lease liabilities - long-term(2)
25,092,217 25,127,464 
Total operating lease liabilities$25,180,581 $25,202,452 
Finance leases
Finance lease ROU assets, net, classified within “Property and equipment, net”
$320,200 $85,783 
Finance lease liabilities - current, classified within “Other accrued liabilities”
$71,455 $9,166 
Finance lease liabilities - long-term, classified within “Other long-term obligations”
259,464 85,391 
Total finance lease liabilities$330,919 $94,557 
Weighted average remaining lease term (years)
Operating leases2525
Finance leases822
Weighted average discount rate (%)
Operating leases7 7 
Finance leases6 6 
(1)As of September 30, 2024 and December 31, 2023, operating lease right-of-use assets, net included $3.4 billion and $3.5 billion related to the Bellagio lease, respectively.
(2)As of September 30, 2024 and December 31, 2023, operating lease liabilities – long-term included $3.8 billion related to the Bellagio lease. As of September 30, 2024, operating lease liabilities – current included $2 million related to the Bellagio lease.
Schedule of Operating Lease Maturity
Maturities of lease liabilities were as follows:
 Operating Leases  Finance Leases
Year ending December 31, (In thousands)
2024 (excluding the nine months ended September 30, 2024)$459,142 $25,229 
20251,864,318 84,460 
20261,889,911 81,026 
20271,917,382 80,708 
20281,945,374 29,445 
Thereafter48,944,154 128,248 
Total future minimum lease payments57,020,281 429,116 
Less: Amount of lease payments representing interest(31,839,700)(98,197)
Present value of future minimum lease payments25,180,581 330,919 
Less: Current portion(88,364)(71,455)
Long-term portion of lease liabilities$25,092,217 $259,464 
Schedule of Finance Lease Maturity
Maturities of lease liabilities were as follows:
 Operating Leases  Finance Leases
Year ending December 31, (In thousands)
2024 (excluding the nine months ended September 30, 2024)$459,142 $25,229 
20251,864,318 84,460 
20261,889,911 81,026 
20271,917,382 80,708 
20281,945,374 29,445 
Thereafter48,944,154 128,248 
Total future minimum lease payments57,020,281 429,116 
Less: Amount of lease payments representing interest(31,839,700)(98,197)
Present value of future minimum lease payments25,180,581 330,919 
Less: Current portion(88,364)(71,455)
Long-term portion of lease liabilities$25,092,217 $259,464 
v3.24.3
EARNINGS PER SHARE (Tables)
 9 Months Ended
Sep. 30, 2024
Earnings Per Share [Abstract]  
Schedule of Basic and Diluted Earnings Per Share of Common Stock
The table below reconciles basic and diluted earnings per share of common stock. Diluted weighted-average common and common equivalent shares include adjustments for potential dilution of stock-based awards outstanding under the Company’s stock compensation plan. Antidilutive share-based awards excluded from the diluted earnings per share calculation are not material.
 Three Months Ended
September 30,		Nine Months Ended
September 30,
 2024202320242023
 (In thousands)
Numerator:  
Net income attributable to MGM Resorts International$184,578 $161,117 $589,126 $828,720 
Adjustment related to redeemable noncontrolling interests(216)(34)14 1,376 
Net income attributable to common stockholders – basic and diluted$184,362 $161,083 $589,140 $830,096 
Denominator:
Weighted-average common shares outstanding – basic300,499 347,345 310,688 360,732 
Potential dilution from stock-based awards
2,980 4,045 3,164 4,115 
Weighted-average common and common equivalent shares – diluted303,479 351,390 313,852 364,847 
v3.24.3
SEGMENT INFORMATION (Tables)
 9 Months Ended
Sep. 30, 2024
Segment Reporting [Abstract]  
Schedule of Segment Information
The following tables present the Company’s segment information:
Three Months Ended
September 30,		Nine Months Ended
September 30,
 202420232024 2023
 (In thousands)
Net revenue
Las Vegas Strip Resorts
Casino$476,434 $546,273 $1,458,721 $1,539,048 
Rooms743,261 694,554 2,337,808 2,152,960 
Food and beverage574,587 545,850 1,798,109 1,727,248 
Entertainment, retail and other337,931 319,162 998,066 1,009,385 
2,132,213 2,105,839 6,592,704 6,428,641 
Regional Operations
Casino692,654 678,565 2,061,659 2,074,972 
Rooms88,275 85,267 232,740 229,500 
Food and beverage116,378 107,952 336,037 331,322 
Entertainment, retail and other, and reimbursed costs54,841 53,173 158,329 161,106 
952,148 924,957 2,788,765 2,796,900 
MGM China
Casino800,208 713,961 2,611,497 1,938,891 
Rooms52,029 47,270 168,415 108,442 
Food and beverage64,356 44,460 192,716 105,058 
Entertainment, retail and other12,863 6,834 31,036 18,681 
929,456 812,525 3,003,664 2,171,072 
Reportable segment net revenues4,013,817 3,843,321 12,385,133 11,396,613 
Corporate and other169,321 129,862 508,850 392,073 
 $4,183,138 $3,973,183 $12,893,983 $11,788,686 

Three Months Ended
September 30,		Nine Months Ended
September 30,
2024202320242023
(In thousands)
Adjusted Property EBITDAR
Las Vegas Strip Resorts$731,037 $714,086 $2,341,114 $2,326,424 
Regional Operations 299,985 293,257 862,465 900,199 
MGM China237,356 226,117 832,405 604,454 
Reportable segment Adjusted Property EBITDAR1,268,378 1,233,460 4,035,984 3,831,077 
 
Other operating income (expense)
Corporate and other, net(132,444)(87,946)(468,740)(437,193)
Preopening and start-up expenses(519)(68)(2,469)(356)
Property transactions, net (25,493)(12,227)(59,124)378,235 
Depreciation and amortization(233,330)(201,827)(621,868)(608,831)
Triple-net operating lease and ground lease rent expense(564,436)(564,154)(1,692,961)(1,698,867)
Income from unconsolidated affiliates related to real estate ventures2,701 2,698 8,069 8,088 
Operating income314,857 369,936 1,198,891 1,472,153 
Non-operating income (expense)
Interest expense, net of amounts capitalized(111,873)(111,170)(334,649)(353,415)
Non-operating items from unconsolidated affiliates417 438 2,043 (1,187)
Other, net93,333 (34,879)45,096 35,121 
(18,123)(145,611)(287,510)(319,481)
Income before income taxes296,734 224,325 911,381 1,152,672 
Provision for income taxes(52,570)(12,440)(84,689)(217,360)
Net income244,164 211,885 826,692 935,312 
Less: Net income attributable to noncontrolling interests(59,586)(50,768)(237,566)(106,592)
Net income attributable to MGM Resorts International$184,578 $161,117 $589,126 $828,720 
v3.24.3
ORGANIZATION (Details)
 9 Months Ended
Sep. 30, 2024
segment
resort
Organization Disclosure [Line Items]  
Number of reportable segments | segment 3
BetMGM LLC  
Organization Disclosure [Line Items]  
Ownership interest (in percent) 50.00%
BetMGM LLC | Entain plc  
Organization Disclosure [Line Items]  
Ownership interest (in percent) 50.00%
Osaka IR KK | Japan  
Organization Disclosure [Line Items]  
Ownership interest (in percent) 50.00%
MGM China  
Organization Disclosure [Line Items]  
Controlling interest (in percent) 56.00%
Number of integrated casino | resort 2
v3.24.3
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES - Additional Information (Details)
MOP$ in Millions, $ in Millions
 1 Months Ended 3 Months Ended 9 Months Ended
Feb. 28, 2023
USD ($)
Sep. 30, 2024
USD ($)
Sep. 30, 2023
USD ($)
Sep. 30, 2024
USD ($)
Sep. 30, 2023
USD ($)
Sep. 30, 2024
MOP (MOP$)
Dec. 31, 2023
USD ($)
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]              
Ownership interest (in percent)       100.00%      
Fair value of investment   $ 433   $ 433     $ 435
Net gain (loss) on equity investments   48 $ (57) (2) $ (52)    
Loss reserve for accounts receivable   145   145     130
Accrual for property and equipment within accounts payable   90   90     84
MGM National Harbor              
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]              
Payments for repurchase of redeemable noncontrolling interest         138    
Foreign Exchange Forward              
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]              
Derivative asset   27   27     10
Derivative asset current   12   12     1
Derivative asset noncurrent   15   15     9
Derivative liability   21   21     17
Derivative liability current   19   19     8
Derivative liability noncurrent   2   2     9
Net gain (loss) on derivative   87   (13)      
Food and Beverage Revenue              
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]              
Lease revenue   21 20 62 57    
Entertainment Retail and Other Revenue              
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]              
Lease revenue   28 $ 27 86 $ 86    
Circus Circus Las Vegas And Adjacent Land              
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]              
Repayment of note receivable $ 170            
MGM Grand Paradise SA | June 2022 Sub Concession Extension Contract              
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]              
Obligation amount   $ 87   $ 87   MOP$ 700 $ 87
Bellagio BREIT Venture              
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]              
Ownership interest by noncontrolling owner (in percent)   5.00%   5.00%   5.00%  
v3.24.3
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES - Schedule of Debt Investments (Details) - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Debt and Equity Securities, FV-NI [Line Items]    
Total debt investments $ 416,766 $ 438,533
Cash and cash equivalents:    
Debt and Equity Securities, FV-NI [Line Items]    
Total debt investments 217,131 18,828
Cash and cash equivalents: | Level 1 | Money market funds    
Debt and Equity Securities, FV-NI [Line Items]    
Total debt investments 217,131 18,828
Short-term investments:    
Debt and Equity Securities, FV-NI [Line Items]    
Total debt investments 199,635 419,705
Short-term investments: | Level 1 | U.S. government securities    
Debt and Equity Securities, FV-NI [Line Items]    
Total debt investments 5,978 37,805
Short-term investments: | Level 2 | U.S. agency securities    
Debt and Equity Securities, FV-NI [Line Items]    
Total debt investments 0 9,804
Short-term investments: | Level 2 | Corporate bonds    
Debt and Equity Securities, FV-NI [Line Items]    
Total debt investments 189,242 364,926
Short-term investments: | Level 2 | Asset-backed securities    
Debt and Equity Securities, FV-NI [Line Items]    
Total debt investments $ 4,415 $ 7,170
v3.24.3
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES - Schedule of Contract and Contract-related Liabilities (Details) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Outstanding Chip Liability    
Contract And Contract Related Liabilities [Roll Forward]    
Balance at January 1 $ 211,606 $ 185,669
Balance at September 30 171,502 185,615
Increase / (decrease) (40,104) (54)
Loyalty Program    
Contract And Contract Related Liabilities [Roll Forward]    
Balance at January 1 201,973 183,602
Balance at September 30 213,330 204,333
Increase / (decrease) 11,357 20,731
Customer Advances and Other    
Contract And Contract Related Liabilities [Roll Forward]    
Balance at January 1 766,226 816,376
Balance at September 30 795,489 847,572
Increase / (decrease) $ 29,263 $ 31,196
v3.24.3
ACQUISITIONS AND DIVESTITURES (Details) - USD ($)
$ in Thousands
 9 Months Ended
Aug. 31, 2023
Feb. 15, 2023
Sep. 30, 2024
Sep. 30, 2023
Dec. 31, 2023
Schedule of Business Acquisitions and Disposals [Line Items]          
Goodwill     $ 5,175,752   $ 5,165,694
Proceeds from sale of operating resorts     $ 0 $ 460,392  
Disposal Group, Held-for-sale, Not Discontinued Operations | Gold Strike Tunica | CNE Gaming Holdings, LLC          
Schedule of Business Acquisitions and Disposals [Line Items]          
Proceeds from sale of operating resorts   $ 450,000      
Consideration received from sale of discontinued operations   474,000      
Decrease in annual rent payments   40,000      
Gain on sales of investment real estate   399,000      
Carrying value of assets and liabilities and comprehensive income   $ 75,000      
Push Gaming          
Schedule of Business Acquisitions and Disposals [Line Items]          
Ownership interest acquired (in percent) 86.00%        
Cash tender price $ 146,000        
Goodwill 126,000        
Amortizable intangible assets $ 40,000        
v3.24.3
INVESTMENTS IN AND ADVANCES TO UNCONSOLIDATED AFFILIATES - Additional Information (Details) - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Schedule Of Equity Method Investments [Line Items]    
Investments in and advances to unconsolidated affiliates $ 414,161 $ 240,803
BetMGM    
Schedule Of Equity Method Investments [Line Items]    
Equity method investment $ 44,000 $ 5,000
v3.24.3
INVESTMENTS IN AND ADVANCES TO UNCONSOLIDATED AFFILIATES - Schedule of Share of Loss from Unconsolidated Affiliates (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Equity Method Investments and Joint Ventures [Abstract]        
Income (loss) from unconsolidated affiliates $ 7,989 $ 22,507 $ (51,319) $ (68,681)
Non-operating items from unconsolidated affiliates 417 438 2,043 (1,187)
Net income from unconsolidated affiliates $ 8,406 $ 22,945 $ (49,276) $ (69,868)
v3.24.3
INVESTMENTS IN AND ADVANCES TO UNCONSOLIDATED AFFILIATES - Schedule of Share of Operating Loss from Unconsolidated Affiliates (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Schedule Of Equity Method Investments [Line Items]        
Income (loss) from unconsolidated affiliates $ 7,989 $ 22,507 $ (51,319) $ (68,681)
BetMGM        
Schedule Of Equity Method Investments [Line Items]        
Income (loss) from unconsolidated affiliates 3,211 12,629 (67,781) (91,743)
Other        
Schedule Of Equity Method Investments [Line Items]        
Income (loss) from unconsolidated affiliates $ 4,778 $ 9,878 $ 16,462 $ 23,062
v3.24.3
LONG-TERM DEBT - Schedule of Long-term Debt (Details) - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Debt Instrument [Line Items]    
Long-term debt, gross $ 6,954,295 $ 6,371,852
Less: Unamortized discounts and debt issuance costs, net (45,020) (28,042)
Long-term debt 6,909,275 6,343,810
Less: Current portion (675,000) 0
Long-term debt, net $ 6,234,275 6,343,810
5.375% MGM China senior notes, due 2024    
Debt Instrument [Line Items]    
Long-term debt, interest rate (in percent) 5.375%  
Senior notes $ 0 750,000
6.75% senior notes, due 2025    
Debt Instrument [Line Items]    
Long-term debt, interest rate (in percent) 6.75%  
Senior notes $ 0 750,000
5.75% senior notes, due 2025    
Debt Instrument [Line Items]    
Long-term debt, interest rate (in percent) 5.75%  
Senior notes $ 675,000 675,000
5.25% MGM China senior notes, due 2025    
Debt Instrument [Line Items]    
Long-term debt, interest rate (in percent) 5.25%  
Senior notes $ 500,000 500,000
5.875% MGM China senior notes, due 2026    
Debt Instrument [Line Items]    
Long-term debt, interest rate (in percent) 5.875%  
Senior notes $ 750,000 750,000
4.625% senior notes, due 2026    
Debt Instrument [Line Items]    
Long-term debt, interest rate (in percent) 4.625%  
Senior notes $ 400,000 400,000
5.5% senior notes, due 2027    
Debt Instrument [Line Items]    
Long-term debt, interest rate (in percent) 5.50%  
Senior notes $ 675,000 675,000
4.75% MGM China senior notes, due 2027    
Debt Instrument [Line Items]    
Long-term debt, interest rate (in percent) 4.75%  
Senior notes $ 750,000 750,000
4.75% senior notes, due 2028    
Debt Instrument [Line Items]    
Long-term debt, interest rate (in percent) 4.75%  
Senior notes $ 750,000 750,000
6.125% senior notes, due 2029    
Debt Instrument [Line Items]    
Long-term debt, interest rate (in percent) 6.125%  
Senior notes $ 850,000 0
7.125% MGM China senior notes, due 2031    
Debt Instrument [Line Items]    
Long-term debt, interest rate (in percent) 7.125%  
Senior notes $ 500,000 0
6.5% senior notes, due 2032    
Debt Instrument [Line Items]    
Long-term debt, interest rate (in percent) 6.50%  
Senior notes $ 750,000 0
7% debentures, due 2036    
Debt Instrument [Line Items]    
Long-term debt, interest rate (in percent) 7.00%  
Senior notes $ 552 552
MGM China first revolving credit facility    
Debt Instrument [Line Items]    
Long-term debt, gross $ 353,743 $ 371,300
v3.24.3
LONG-TERM DEBT - Additional Information (Details)
$ in Millions
 1 Months Ended 9 Months Ended
Oct. 30, 2024
USD ($)
May 31, 2024
USD ($)
May 31, 2024
HKD ($)
Aug. 31, 2023
USD ($)
Mar. 31, 2023
USD ($)
Sep. 30, 2024
USD ($)
Sep. 30, 2023
USD ($)
Sep. 30, 2024
HKD ($)
Jun. 30, 2024
USD ($)
Apr. 30, 2024
USD ($)
Feb. 29, 2024
USD ($)
Dec. 31, 2023
USD ($)
Debt Instrument [Line Items]                        
Redemption of debt           $ 1,500,000,000 $ 1,285,600,000          
Long-term debt, fair value           $ 6,900,000,000           $ 6,300,000,000
5.25% MGM China senior notes, due 2025                        
Debt Instrument [Line Items]                        
Long-term debt, interest rate (in percent)           5.25%   5.25%        
Senior secured credit facility | Line of Credit                        
Debt Instrument [Line Items]                        
Line of credit facility                     $ 2,300,000,000  
Line of credit facility drawn           $ 0            
MGM China first revolving credit facility | Line of Credit | Unsecured Revolving Credit Facility                        
Debt Instrument [Line Items]                        
Line of credit facility           $ 1,300,000,000   $ 9,750        
Debt instrument, weighted average interest rate (in percent)           6.82%   6.82%        
MGM China second revolving credit facility | Line of Credit | Unsecured Revolving Credit Facility                        
Debt Instrument [Line Items]                        
Line of credit facility     $ 5,850     $ 753,000,000   $ 5,850        
Line of credit facility drawn           $ 0            
Line of credit facility, maximum borrowing capacity, increase   $ 161,000,000 $ 1,260                  
6.125% senior notes, due 2029                        
Debt Instrument [Line Items]                        
Long-term debt, interest rate (in percent)           6.125%   6.125%        
6.125% senior notes, due 2029 | Senior Notes                        
Debt Instrument [Line Items]                        
Long-term debt, interest rate (in percent)           6.125%   6.125%        
Long-term debt, principal amount           $ 850,000,000            
5.75% senior notes, due 2025                        
Debt Instrument [Line Items]                        
Long-term debt, interest rate (in percent)           5.75%   5.75%        
5.75% senior notes, due 2025 | Senior Notes | Subsequent Event                        
Debt Instrument [Line Items]                        
Long-term debt, interest rate (in percent) 5.75%                      
Redemption of debt $ 675,000,000                      
Debt Instrument, redemption price (in percent) 100.607%                      
6.5% senior notes, due 2032                        
Debt Instrument [Line Items]                        
Long-term debt, interest rate (in percent)           6.50%   6.50%        
6.5% senior notes, due 2032 | Senior Notes                        
Debt Instrument [Line Items]                        
Long-term debt, interest rate (in percent)                   6.50%    
Long-term debt, principal amount                   $ 750,000,000    
6.75% senior notes, due 2025                        
Debt Instrument [Line Items]                        
Long-term debt, interest rate (in percent)           6.75%   6.75%        
6.75% senior notes, due 2025 | Senior Notes                        
Debt Instrument [Line Items]                        
Long-term debt, interest rate (in percent)     6.75%                  
Redemption of debt   750,000,000                    
6% Senior Notes, Due 2023 | Senior Notes                        
Debt Instrument [Line Items]                        
Long-term debt, interest rate (in percent)         6.00%              
Redemption of debt         $ 1,250,000,000              
7.125% MGM China senior notes, due 2031                        
Debt Instrument [Line Items]                        
Long-term debt, interest rate (in percent)           7.125%   7.125%        
7.125% MGM China senior notes, due 2031 | Senior Notes                        
Debt Instrument [Line Items]                        
Long-term debt, interest rate (in percent)                 7.125%      
Long-term debt, principal amount                 $ 500,000,000      
5.375% Senior Notes, Due 2024 | Senior Notes                        
Debt Instrument [Line Items]                        
Long-term debt, interest rate (in percent)     5.375%                  
Redemption of debt   $ 750,000,000                    
Leo Vegas Senior Notes | Senior Notes                        
Debt Instrument [Line Items]                        
Redemption of debt       $ 36,000,000                
v3.24.3
INCOME TAXES (Details)
 3 Months Ended 9 Months Ended
Jan. 29, 2024
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Income Tax Disclosure [Abstract]          
Effective income tax rate   17.70% 5.50% 9.30% 18.90%
MGM Grand Paradise SA | Macau          
Income Tax Disclosure [Line Items]          
Macau's complementary tax rate on distributions of gaming profits (in percent) 12.00%        
v3.24.3
LEASES - Schedule of Components of Lease Costs (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Leases [Line Items]        
Operating lease cost, primarily classified within "General and administrative" $ 575,293 $ 575,112 $ 1,725,494 $ 1,731,572
Interest expense 8,891 2,484 27,701 7,005
Amortization expense 14,755 17,030 40,711 51,869
Total finance lease costs 23,646 19,514 68,412 58,874
Bellagio        
Leases [Line Items]        
Operating lease cost, primarily classified within "General and administrative" $ 83,000 $ 83,000 $ 248,000 $ 248,000
v3.24.3
LEASES - Schedule of Supplemental Balance Sheet Information Related to Leases (Details) - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Operating leases    
Operating lease ROU assets, net $ 23,658,647 $ 24,027,465
Operating lease liabilities - current, location Other accrued liabilities Other accrued liabilities
Operating lease liabilities - current, classified within “Other accrued liabilities” $ 88,364 $ 74,988
Operating lease liabilities - long-term 25,092,217 25,127,464
Total operating lease liabilities $ 25,180,581 $ 25,202,452
Finance leases    
Finance lease ROU assets, net, location Property and equipment, net Property and equipment, net
Finance lease ROU assets, net, classified within “Property and equipment, net” $ 320,200 $ 85,783
Finance lease liabilities - current, location Other accrued liabilities Other accrued liabilities
Finance lease liabilities - current, classified within “Other accrued liabilities” $ 71,455 $ 9,166
Finance lease liabilities - long-term, location Other long-term obligations Other long-term obligations
Finance lease liabilities - long-term, classified within “Other long-term obligations” $ 259,464 $ 85,391
Total finance lease liabilities $ 330,919 $ 94,557
Weighted average remaining lease term (years)    
Operating leases 25 years 25 years
Finance leases 8 years 22 years
Weighted average discount rate (%)    
Operating leases 7.00% 7.00%
Finance leases 6.00% 6.00%
Bellagio Lease    
Operating leases    
Operating lease ROU assets, net $ 3,400,000 $ 3,500,000
Operating lease liabilities - current, classified within “Other accrued liabilities” 2,000  
Operating lease liabilities - long-term $ 3,800,000 $ 3,800,000
v3.24.3
LEASES - Schedule of Cash Paid for Amounts Included in Measurement of Lease Liabilities and ROU Assets Obtained in Exchange for New Lease Liabilities (Details) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash paid for amounts included in the measurement of lease liabilities    
Operating cash outflows from operating leases $ 1,377,717 $ 1,350,828
Operating cash outflows from finance leases 11,389 4,917
Financing cash outflows from finance leases 38,745 53,211
ROU assets obtained in exchange for new lease liabilities    
Operating leases 5,079 12,347
Finance leases $ 272,878 $ 518
v3.24.3
LEASES - Schedule of Maturities of Lease Liabilities (Details) - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Operating Leases    
2024 (excluding the nine months ended September 30, 2024) $ 459,142  
2025 1,864,318  
2026 1,889,911  
2027 1,917,382  
2028 1,945,374  
Thereafter 48,944,154  
Total future minimum lease payments 57,020,281  
Less: Amount of lease payments representing interest (31,839,700)  
Total operating lease liabilities 25,180,581 $ 25,202,452
Less: Current portion (88,364) (74,988)
Long-term portion of lease liabilities 25,092,217 25,127,464
Finance Leases    
2024 (excluding the nine months ended September 30, 2024) 25,229  
2025 84,460  
2026 81,026  
2027 80,708  
2028 29,445  
Thereafter 128,248  
Total future minimum lease payments 429,116  
Less: Amount of lease payments representing interest (98,197)  
Total finance lease liabilities 330,919 94,557
Less: Current portion (71,455) (9,166)
Long-term portion of lease liabilities $ 259,464 $ 85,391
v3.24.3
COMMITMENTS AND CONTINGENCIES (Details)
$ in Thousands, ¥ in Millions, MOP$ in Millions
 1 Months Ended 3 Months Ended 9 Months Ended
Jan. 31, 2023
MOP (MOP$)
Sep. 30, 2024
USD ($)
Sep. 30, 2024
JPY (¥)
Sep. 30, 2023
USD ($)
Sep. 30, 2023
JPY (¥)
Sep. 30, 2024
USD ($)
Sep. 30, 2024
JPY (¥)
Sep. 30, 2023
USD ($)
Sep. 30, 2023
JPY (¥)
Sep. 30, 2024
MOP (MOP$)
Sep. 30, 2024
JPY (¥)
Dec. 31, 2023
USD ($)
Loss Contingencies [Line Items]                        
Funded amount           $ 182,078   $ 144,452        
Long-term debt, gross   $ 6,954,295       6,954,295           $ 6,371,852
Senior Credit Facility                        
Loss Contingencies [Line Items]                        
Credit facility outstanding   28,000       28,000            
Revolving Credit Facility                        
Loss Contingencies [Line Items]                        
Long-term debt, gross   $ 1,350,000       $ 1,350,000            
Osaka IR KK | Japan                        
Loss Contingencies [Line Items]                        
Guarantor obligations (as a percent)   50.00%       50.00%       50.00% 50.00%  
Commitment amount   $ 1,900,000       $ 1,900,000         ¥ 271,000  
Funded amount   138,000 ¥ 22,200 $ 69,000 ¥ 10,300 157,000 ¥ 25,200 $ 69,000 ¥ 10,300      
Osaka IR KK | Japan | Asset Pledged as Collateral                        
Loss Contingencies [Line Items]                        
Equity method investment   302,000       302,000            
Performance Guarantee | Osaka IR KK | Japan                        
Loss Contingencies [Line Items]                        
Obligation amount   88,000       88,000         ¥ 12,650  
Blackstone Real Estate Income Trust                        
Loss Contingencies [Line Items]                        
Obligation amount   3,010,000       3,010,000            
Mandalay Bay and MGM Grand Las Vegas                        
Loss Contingencies [Line Items]                        
Obligation amount   3,000,000       3,000,000            
MGM Grand Paradise SA | January 2023 Concessions                        
Loss Contingencies [Line Items]                        
Obligation amount MOP$ 1,000 125,000       125,000            
Guarantee expiration, days after the end of the concession term 180 days                      
MGM Grand Paradise SA | June 2022 Sub Concession Extension Contract                        
Loss Contingencies [Line Items]                        
Obligation amount   $ 87,000       $ 87,000       MOP$ 700   $ 87,000
v3.24.3
EARNINGS PER SHARE (Details) - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Numerator:        
Net income attributable to MGM Resorts International $ 184,578 $ 161,117 $ 589,126 $ 828,720
Adjustment related to redeemable noncontrolling interests (216) (34) 14 1,376
Net income attributable to common stockholders – basic 184,362 161,083 589,140 830,096
Net income attributable to common stockholders – diluted $ 184,362 $ 161,083 $ 589,140 $ 830,096
Denominator:        
Weighted-average common shares outstanding – basic (in shares) 300,499 347,345 310,688 360,732
Potential dilution from stock-based awards (in shares) 2,980 4,045 3,164 4,115
Weighted-average common and common equivalent shares – diluted (in shares) 303,479 351,390 313,852 364,847
v3.24.3
STOCKHOLDERS’ EQUITY (Details) - USD ($)
shares in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Nov. 30, 2023
Feb. 28, 2023
Mar. 31, 2022
Schedule Of Stockholders Equity Note [Line Items]              
Repurchases of common stock $ 325,827,000 $ 571,590,000 $ 1,250,118,000 $ 1,684,797,000      
Common Stock              
Schedule Of Stockholders Equity Note [Line Items]              
Repurchases of common stock (in shares) 8,349 12,766 30,046 39,269      
Repurchases of common stock $ 84,000 $ 128,000 $ 300,000 $ 393,000      
Share Repurchase Program | Common Stock              
Schedule Of Stockholders Equity Note [Line Items]              
Repurchases of common stock (in shares) 8,000 13,000 30,000 39,000      
Repurchases of common stock $ 326,000,000 $ 572,000,000 $ 1,300,000,000 $ 1,700,000,000      
Share Repurchase Program March 2022 | Common Stock              
Schedule Of Stockholders Equity Note [Line Items]              
Authorized amount of stock repurchase             $ 2,000,000,000
Share Repurchase Program February 2023 | Common Stock              
Schedule Of Stockholders Equity Note [Line Items]              
Authorized amount of stock repurchase           $ 2,000,000,000  
Share Repurchase Program November 2023 | Common Stock              
Schedule Of Stockholders Equity Note [Line Items]              
Authorized amount of stock repurchase         $ 2,000,000,000    
Repurchase of common stock, remaining amount $ 946,000,000   $ 946,000,000        
v3.24.3
SEGMENT INFORMATION (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Net revenue        
Total net revenue $ 4,183,138 $ 3,973,183 $ 12,893,983 $ 11,788,686
Other operating income (expense)        
Preopening and start-up expenses (519) (68) (2,469) (356)
Property transactions, net (25,493) (12,227) (59,124) 378,235
Depreciation and amortization (233,330) (201,827) (621,868) (608,831)
Triple-net operating lease and ground lease rent expense (564,436) (564,154) (1,692,961) (1,698,867)
Income from unconsolidated affiliates related to real estate ventures 2,701 2,698 8,069 8,088
Operating income 314,857 369,936 1,198,891 1,472,153
Non-operating income (expense)        
Interest expense, net of amounts capitalized (111,873) (111,170) (334,649) (353,415)
Non-operating items from unconsolidated affiliates 417 438 2,043 (1,187)
Other, net 93,333 (34,879) 45,096 35,121
Non-operating income (expense) (18,123) (145,611) (287,510) (319,481)
Income before income taxes 296,734 224,325 911,381 1,152,672
Provision for income taxes (52,570) (12,440) (84,689) (217,360)
Net income 244,164 211,885 826,692 935,312
Less: Net income attributable to noncontrolling interests (59,586) (50,768) (237,566) (106,592)
Net income attributable to MGM Resorts International 184,578 161,117 589,126 828,720
Casino        
Net revenue        
Total net revenue 2,121,049 2,050,584 6,574,903 5,884,394
Rooms        
Net revenue        
Total net revenue 883,564 827,091 2,738,963 2,490,902
Food and beverage        
Net revenue        
Total net revenue 755,322 698,261 2,326,863 2,163,628
Entertainment, retail and other        
Net revenue        
Total net revenue 411,326 385,691 1,217,322 1,215,980
Reportable Segments        
Net revenue        
Total net revenue 4,013,817 3,843,321 12,385,133 11,396,613
Adjusted Property EBITDAR        
Reportable segment Adjusted Property EBITDAR 1,268,378 1,233,460 4,035,984 3,831,077
Reportable Segments | Las Vegas Strip Resorts        
Net revenue        
Total net revenue 2,132,213 2,105,839 6,592,704 6,428,641
Adjusted Property EBITDAR        
Reportable segment Adjusted Property EBITDAR 731,037 714,086 2,341,114 2,326,424
Reportable Segments | Regional Operations        
Net revenue        
Total net revenue 952,148 924,957 2,788,765 2,796,900
Adjusted Property EBITDAR        
Reportable segment Adjusted Property EBITDAR 299,985 293,257 862,465 900,199
Reportable Segments | MGM China        
Net revenue        
Total net revenue 929,456 812,525 3,003,664 2,171,072
Adjusted Property EBITDAR        
Reportable segment Adjusted Property EBITDAR 237,356 226,117 832,405 604,454
Reportable Segments | Casino | Las Vegas Strip Resorts        
Net revenue        
Total net revenue 476,434 546,273 1,458,721 1,539,048
Reportable Segments | Casino | Regional Operations        
Net revenue        
Total net revenue 692,654 678,565 2,061,659 2,074,972
Reportable Segments | Casino | MGM China        
Net revenue        
Total net revenue 800,208 713,961 2,611,497 1,938,891
Reportable Segments | Rooms | Las Vegas Strip Resorts        
Net revenue        
Total net revenue 743,261 694,554 2,337,808 2,152,960
Reportable Segments | Rooms | Regional Operations        
Net revenue        
Total net revenue 88,275 85,267 232,740 229,500
Reportable Segments | Rooms | MGM China        
Net revenue        
Total net revenue 52,029 47,270 168,415 108,442
Reportable Segments | Food and beverage | Las Vegas Strip Resorts        
Net revenue        
Total net revenue 574,587 545,850 1,798,109 1,727,248
Reportable Segments | Food and beverage | Regional Operations        
Net revenue        
Total net revenue 116,378 107,952 336,037 331,322
Reportable Segments | Food and beverage | MGM China        
Net revenue        
Total net revenue 64,356 44,460 192,716 105,058
Reportable Segments | Entertainment, retail and other | Las Vegas Strip Resorts        
Net revenue        
Total net revenue 337,931 319,162 998,066 1,009,385
Reportable Segments | Entertainment, retail and other | MGM China        
Net revenue        
Total net revenue 12,863 6,834 31,036 18,681
Reportable Segments | Entertainment, retail and other, and reimbursed costs | Regional Operations        
Net revenue        
Total net revenue 54,841 53,173 158,329 161,106
Corporate and other        
Net revenue        
Total net revenue 169,321 129,862 508,850 392,073
Other operating income (expense)        
Corporate and other, net $ (132,444) $ (87,946) $ (468,740) $ (437,193)