Jump to content

MGM Resorts International

From Wikipedia, the free encyclopedia

This is an old revision of this page, as edited by Mattr1198 (talk | contribs) at 02:20, 2 May 2021 (Additional important branch to MGM Resorts International's operations today). The present address (URL) is a permanent link to this revision, which may differ significantly from the current revision.

MGM Resorts International
Formerly
  • Grand Name Co. (1986–1987)
  • MGM Grand Inc. (1987–2000)
  • MGM Mirage (2000–2010)
Company typePublic
ISINUS5529531015 Edit this on Wikidata
Founded1986; 38 years ago (1986)
FounderKirk Kerkorian
HeadquartersParadise, Nevada, United States
Key people
ProductsCasinos
Hotels
Entertainment
Resorts
Revenue$12.899 billion (2019)[1]
1,439,372,000 United States dollar (2022) Edit this on Wikidata
1,473,093,000 United States dollar (2022) Edit this on Wikidata
Total assetsIncrease $33.9 billion (2019)[1]
Total equityIncrease $7.7 billion (2019)[1]
Number of employees
74,500 (2020)
DivisionsMGM Growth Properties
SubsidiariesMGM Resorts Vacations
Diaoyutai MGM Hospitality
BetMGM
Websitemgmresorts.com

MGM Resorts International is an American global hospitality and entertainment company operating destination resorts in Las Vegas, Massachusetts, Detroit, Mississippi, Maryland, and New Jersey, including Bellagio, Mandalay Bay, MGM Grand, and Park MGM. In January 2019 the company took over Empire City Casino in Yonkers, New York, and also opened MGM National Harbor in Maryland and MGM Springfield in Massachusetts. The company has a majority interest in MGM China Holdings Limited, which owns the MGM Macau resort and casino, and is developing a gaming resort in Cotai. MGM Resorts owns 50 percent of CityCenter in Las Vegas, which features Aria Resort & Casino. It has a majority controlling interest in MGM Growth Properties, a real estate investment trust.[2]

The company began operations in 1987 as MGM Grand, Inc. and became MGM Mirage in 2000, after acquiring Mirage Resorts. In the mid-2000s, growth of its non-gaming (lodging, food, retail) revenue began to outpace gaming receipts and demand for high-rise condominiums was surging, with median property prices in Las Vegas twice the national average.[3][4] The company shifted its focus from owning and operating resorts and casinos to developing and building real estate in the leisure and gaming industry—launching the massive CityCenter mixed-use project,[5][6] which was at the time of its construction the world's largest construction site and ranks as one of the most expensive real estate projects in history.[7] City Center's development coincided with the global financial crisis, causing more than $1 billion in writedowns in its valuation.[8]

Billionaire investor Kirk Kerkorian and his Tracinda Corporation were, until 2009, the majority shareholders of MGM Mirage; Kerkorian was the former owner of the Metro-Goldwyn-Mayer movie studio, from which MGM Grand derived its name. Following a $1 billion stock offering by MGM Mirage amidst the global credit crunch, Tracinda's shares were diluted from 53.8 percent to 39 percent.[9][10] On June 15, 2010, shareholders voted for MGM Mirage to change its name to "MGM Resorts International".[11]

History

Background and early ventures (1969–1988)

The company's background can be traced to 1969, when airline and casino tycoon Kirk Kerkorian bought a controlling stake in the Metro-Goldwyn-Mayer (MGM) film studio.[12] In 1970 and 1971, Kerkorian struggled with debt from his acquisitions of MGM and Western Airlines, and was forced to sell a majority of his casino company, International Leisure, to Hilton Hotels at a steep discount.[13][14] When the Las Vegas Hilton, the casino he had built, subsequently became the most successful hotel in Las Vegas, Kerkorian was inspired to lead the studio into the gambling industry.[13] It opened the original MGM Grand Hotel and Casino (now Bally's Las Vegas) in 1973.[15] The MGM Grand Reno followed in 1978.[16]

By 1979, the two hotel-casinos accounted for most of MGM's income, and the company announced a plan to split itself in two.[17] The next year, the film studio was spun off as a new company, while the original company, renamed as MGM Grand Hotels Inc., retained the two hotel-casinos.[18] Kerkorian held a 47 percent stake in both companies.[18]

In 1985, Kerkorian began seeking a buyer for MGM Grand Hotels, to allow him to concentrate on running United Artists and on developing new properties under the MGM Grand name.[19] A deal was reached for Bally Manufacturing to buy the company; the deal closed in April 1986,[20] and the two casinos were renamed under the Bally's brand.[21] The terms of the sale allowed Kerkorian to retain rights to the MGM Grand name, and plans were announced to offer the stockholders of MGM Grand Hotels shares in a new company that would hold the naming rights.[22]

The company now known as MGM Resorts International was formed in 1986 as Grand Name Co.[23] as a subsidiary of Kerkorian's Tracinda Corporation.[24] It was renamed the following year as MGM Grand, Inc.[23]

The company's first venture was MGM Grand Air, a luxury airline offering service between New York and Los Angeles, which launched in September 1987.[25] The company also made an offer to take over financially struggling Pan American World Airways, but this offer was rejected by Pan Am's board in November 1987.[26]

In August 1987, MGM Grand bid $152 million for the bankrupt Dunes Hotel in Las Vegas, but was beat out by Japanese billionaire Masao Nangaku.[27] Instead, the company acquired the Desert Inn and Sands casinos in February 1988 from Summa Corporation for $167 million.[28] The Sands was sold to Sheldon Adelson's Interface Group for $110 million in April 1989.[29]

First casino developments (1989–1999)

In September 1989, the company announced plans for a $700-million Hollywood-themed complex, including a 4,000-room hotel and a theme park.[30] The Desert Inn site was initially considered as a location for the project,[30] but within weeks the location was finalized as the Marina Hotel and Casino and the Tropicana Country Club,[31] which MGM Grand acquired for $93 million plus $30 million in stock.[32] The company put the Desert Inn up for sale to focus efforts on the new project,[33] but found no outside bidders, and agreed to sell it to Tracinda for $130 million.[34] Construction on the MGM Grand Las Vegas and the MGM Grand Adventures theme park began in October 1991,[35] and the property opened in December 1993 at a final cost of $1 billion.[36] The park permanently closed in 2002 due to a lack of interest.[37]

The company moved its headquarters from Beverly Hills to Las Vegas in July 1992.[38]

During construction of the MGM Grand, the company acquired an option to buy an 18-acre site across the street from the project.[39] Gary Primm of Primadonna Resorts approached MGM president Bob Maxey in 1994 with an idea for the site: a casino recreating the New York skyline.[40] A joint venture was formed between the two companies, and construction began in March 1995.[41] Completed at a cost of $460 million, the New York-New York Hotel and Casino opened in January 1997.[42]

With New York-New York under development, MGM Grand made moves to expand in several other markets. An exploratory agreement to develop two casinos on the Chinese island of Hainan was announced in August 1994,[43] but came to nothing. In Darwin, Australia, a lucrative market attracting high rollers from Pacific Rim countries,[44] the company considered building a hotel,[45] but instead bought the Diamond Beach Hotel and Casino,[46] renaming it as the MGM Grand Darwin. MGM announced plans for an Atlantic City casino in July 1996.[47] In Michigan, where voters approved casinos in November 1996, MGM made plans for a bid on one of the three available gaming licenses,[48] which would eventually be approved and open in July 1999 as the MGM Grand Detroit.[49]

In South Africa, with casino gambling newly authorized, MGM announced plans in August 1996 to develop 15 properties in conjunction with Tsogo Sun.[50] The first, a temporary casino in Johannesburg's Sundome, opened in October 1998.[51] Three more casinos followed before MGM agreed to sell out its interest in the properties to Tsogo Sun in November 2001.[52]

Since the initiation of New York-New York, analysts had speculated that MGM Grand or Primadonna would buy out the other's interest in the project.[53] Instead of making such a cash-intensive purchase,[54] however, MGM agreed to buy Primadonna outright for $276 million in stock plus $336 million in assumed debt.[55] The merger closed in March 1999,[56] giving MGM ownership of three casinos and two golf courses at the Nevada–California state line, in addition to full control of New York-New York.

Mirage Resorts merger (2000)

In February 2000, MGM Grand made an unsolicited offer of $17 a share to buy Mirage Resorts, which had foundered due to disappointing results at its new Beau Rivage and Bellagio resorts.[57] Analysts expected a protracted battle, with Mirage founder Steve Wynn seen as unwilling to give up control but under pressure from institutional investors.[58][59] Mirage rejected the offer,[60] but Wynn met with Kerkorian the next day and named a price of $21 a share.[61] The companies agreed on the higher price, for a total of $4.4 billion plus $2 billion in assumed debt.[62] The merger closed in May 2000,[63] giving MGM ownership of the Mirage, Treasure Island, Bellagio, Boardwalk, and Golden Nugget casinos in Las Vegas, the Golden Nugget in Laughlin, and the Beau Rivage in Mississippi, and a half share of the Monte Carlo. The company changed its name to MGM Mirage in August 2000.[64] Mirage had also owned a half stake in the Borgata, a planned casino in Atlantic City, in a joint venture managed by Boyd Gaming.[65] Work on the Borgata continued apace, and it would open in July 2003.[66]

Stalled developments (2001–2004)

In 2001 and 2002, following the merger with Mirage, the company explored options for its next major development project, including in the Las Vegas, Atlantic City, Chicago, and Macau markets.[67] The 55-acre site of the Boardwalk casino on the Las Vegas Strip was earmarked for a technologically advanced megaresort targeting a Generation X demographic.[68] In Atlantic City, MGM shifted focus from its previously announced boardwalk site to a proposed billion-dollar hotel and casino on a 55-acre tract adjacent to the Borgata, where Wynn had planned to build the Le Jardin casino.[69][70] In the Chicago market, MGM agreed to pay $600 million to buy the unfinished Emerald Casino in Rosemont, Illinois, whose investors had been accused of ties to organized crime.[71] The deal was rejected, however, by state gaming regulators,[72] and MGM then backed off its effort, saying that Illinois's casino tax was too high.[73] In Macau, where Stanley Ho's 40-year government-granted monopoly on gambling was coming to an end, MGM submitted a bid for one of three available gaming concessions,[74] but it was not selected, losing out to Ho, Las Vegas Sands, and Wynn Resorts.[75]

MGM made moves into the United Kingdom market after a 2001 government report called for loosening of the country's gambling regulations.[76] It opened an online casino, playmgmmirage.com, licensed in the Isle of Man, a British dependency,[77] and it applied for a license to run an online sports betting site in the U.K.[78] It acquired a twenty-five percent stake in a company developing the small Triangle Casino in Bristol,[76] which went on to open its doors in February 2004.[79] It inked deals to build casinos at the Olympia Exhibition Centre in London,[80] St James' Park in Newcastle,[81] Meadowhall Shopping Centre in Sheffield,[82] the National Exhibition Centre in Birmingham,[83] Sportcity in Manchester, Glasgow Harbour, King's Waterfront in Liverpool, and at a proposed stadium in Salford.[84] The company also signed a $490-million deal to acquire Wembley plc, owner of seven greyhound tracks in Britain and four in the United States.[85]

The British expansion plans ultimately amounted to nothing. MGM closed its online casino after less than two years, citing uncertainty in American regulations and competition from established British brands.[86] The Wembley acquisition turned into a bidding war, with MGM finally losing out to an investors group including Kerzner International.[87] The Triangle Casino was sold off to Stanley Leisure in 2006.[88] The company's other development plans were scuttled as the government scaled down, and eventually abandoned, the plan to allow large "super-casinos".[89][90]

In 2004, the company disposed of some of its smaller properties, selling the two Golden Nugget casinos (Golden Nugget Las Vegas and Golden Nugget Laughlin) to Poster Financial Group for $215 million,[91] and the MGM Grand Darwin to Skycity Entertainment for $140 million.[92]

Mandalay merger (2004–2005)

MGM entered into quiet merger talks with Mandalay Resort Group in early 2004.[93] The potential acquisition would give MGM control of more than half the hotel rooms on the Las Vegas Strip.[94] Mandalay assets attractive to MGM included low-end casinos like Excalibur and Circus Circus to broaden MGM's "high roller" appeal;[95] the Mandalay Bay Convention Center, which would allow MGM to compete directly with the Sands Expo center in the convention market;[94] and at least two prime developable sites on the Strip.[96] The talks went public in June, when MGM announced an offer worth $7.65 billion.[97] Mandalay rejected that offer because of a clause allowing MGM to back out if antitrust regulators demanded the sale of any properties.[97] Analysts speculated that another bidder such as Harrah's or Boyd might enter, but none did,[93] and MGM and Mandalay soon agreed on a $7.9 billion deal.[98]

MGM executives were confident that antitrust regulators would not require the sale of any of the two companies' properties.[99] Michigan law, however, forbade one company from owning multiple casinos, requiring the sale of either the MGM Grand Detroit or Mandalay's 54 percent stake in the MotorCity Casino.[100] After some vacillation about which property to sell,[101] Mandalay accepted a $525-million offer for its interest in MotorCity from Marian Ilitch, the casino's second largest shareholder.[102] Meanwhile, in Illinois, where MGM needed regulatory approval to take over Mandalay's 50 percent interest in the Grand Victoria Casino, a lack of quorum on the state Gaming Board threatened to delay the merger.[103] MGM considered a sale to the casino's other owner, the Pritzker family,[104] but ultimately gained approval for a plan to place the property under control of a trustee until completion of the licensing process.[105] The FTC approved the merger as predicted,[106] and MGM obtained a $7 billion line of credit to finance it.[107] The sale closed on April 25, 2005 for a total of $7.9 billion, including $3 billion in assumed debt.[108]

The Mandalay acquisition made MGM Mirage the largest gaming company in the world,[108] but it was surpassed just two months later when Harrah's Entertainment acquired Caesars Entertainment[109] in a deal that had been spurred on by news of the MGM-Mandalay merger.[110]

Later developments (2004–2006)

MGM Mirage's Corporate Support Center in Paradise, Nevada

Despite MGM's initial failure to win a gaming concession in Macau, the company had remained interested in the burgeoning gaming market. Rumors of a possible partnership with Stanley Ho were reported in 2003,[111] but Nevada gaming regulators informally vetoed the idea because of the alleged involvement of organized crime triads in his casinos.[112] Another possibility emerged when the government allowed the three gaming concessionaires to each sell a sub-concession.[113] In June 2004, MGM formed a joint venture with Pansy Ho, Stanley's daughter, to develop a casino-hotel under a sub-concession from Stanley.[114] Despite initial concerns about whether Pansy Ho was subject to her father's influence, the Nevada Gaming Commission eventually approved the partnership.[115] Construction of the MGM Grand Macau began in June 2005.[116] The property opened in December 2007, completed at a cost of $1.25 billion.[117]

In 2004, MGM solidified its plans for the Boardwalk site on the Strip, announcing Project CityCenter, an $8-billion high-density project including hotels, condominiums, a casino, and a shopping mall.[118][119] The Boardwalk was closed in January 2006 to make way for the redevelopment,[120] and CityCenter construction began the following June.[121]

Singapore emerged in 2004 as the next major new Asian gaming market, calling for proposals to build two "integrated resort" casinos at Marina Bay and the island of Sentosa.[122] MGM partnered with CapitaLand in an estimated $3 billion[123] bid for the Marina Bay site.[122] Their bid advanced to the final stage against three competitors, and was seen as the favorite to win.[124] The government awarded the license, however, to Las Vegas Sands, citing its strength in the meetings and conventions sector.[125]

On April 25, 2006, MGM Mirage announced with Foxwoods Resort and Casino a joint partnership in developing an expansion plan at Foxwoods that will include a casino using the MGM Grand brand.[126] On October 16, 2006, MGM Mirage announced that it planned to sell its properties in Laughlin (Colorado Belle Hotel & Casino and Edgewater Hotel and Casino) to a partnership of Anthony Marnell III and Sher Gaming. The sale price was $200 million.[127] The sale closed on June 1, 2007.[citation needed] On October 31, 2006, MGM Mirage announced plans to sell Primm Valley Resorts to Herbst Gaming for $400 million. The proposed sale would not include the Primm Valley Golf Club.[128] The sale closed on April 10, 2007.[citation needed]

The Nevada Landing Hotel and Casino closed a month earlier than planned on March 20, 2007.[129]

Dubai World investment (2007–2009)

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

On August 22, 2007, Dubai World said it would buy a 9.5 percent stake in MGM for about $2.4 billion. It would also invest about $2.7 billion to acquire a 50 percent stake in MGM's CityCenter project. Dubai World would pay MGM Mirage an additional $100 million if the project opened on time and on budget. The investment firm would buy 14.2 million shares from MGM Mirage. The firm would also issue a public tender for an additional 14.2 million shares at the same price.[131]

Old MGM Mirage logo

On October 29, 2008, MGM Mirage halted a $5 billion Atlantic City project on land next to the Borgata.

At about the same time, New Jersey gambling regulators were evaluating MGM Mirage's suitability to operate casinos in New Jersey, and were unconvinced that MGM Mirage's Macau partner, Pansy Ho, could operate independently from influence of her father, Stanley Ho. The latter was often accused of ties with Chinese organized crime and letting the gangs operate in his casinos' VIP rooms. Faced with not complying with New Jersey gaming regulations, MGM Mirage decided to divest the highly profitable Borgata in order to continue pursuing the even more lucrative Chinese market.[132] MGM Mirage subsequently transferred its 50% share in the Borgata to a divestiture trust through which it received all benefit of the ownership. The trust was responsible for selling MGM's interest within 30 months, although MGM had the right to direct the trustee during the first 18 months.[133][134][135]

On December 16, 2008, MGM Mirage announced the sale of its Las Vegas Treasure Island resort and casino to billionaire Phil Ruffin. The sale was completed on March 20, 2009 for $600 million in cash plus a $175 million promissory note.[136]

On March 23, 2009 Dubai World and Infinity World announced that they had filed a lawsuit in the Delaware Chancery Court seeking to be released from their CityCenter joint venture agreement with MGM Mirage after the company filed its annual report stating that "there is substantial doubt about our ability to continue as a going concern," and "it cannot provide assurance that its business would generate sufficient cash flow from operation."[137][138][139]

Starting on April 6, 2009 news reports surfaced that MGM Mirage had hired investment firm Morgan Stanley to assist the company in finding possible buyers for the MGM Grand Detroit and the Beau Rivage.[140][141]

Name change and recent years (2010–present)

On June 15, 2010, shareholders approved a name change from MGM Mirage to "MGM Resorts International", to emphasize the brand's global scope and increased non-gaming strategy.[142][143]

In April 2011 an initial public offering was announced for the MGM Macau property. Under the agreement, Pansy Ho would receive a 29 percent stake in the company, MGM China Holdings Ltd, which was created as a listing vehicle for the IPO. MGM Resorts would hold 51 percent and the public would receive 20 percent. MGM China raised $1.5 billion from its IPO on the Hong Kong Stock Exchange.[144] In January 2013, MGM China received government approval to build its second resort in Macau.[145] In 2013, MGM won state licenses to build a $1-billion resort in National Harbor, Maryland[146][147] and a $950-million resort in downtown Springfield, Massachusetts.[148][149][150] In May 2014, MGM broke ground on a $375-million arena on the Las Vegas Strip with sports and entertainment company AEG.[151]

In 2013, Foxwoods and MGM ended their relationship, and the MGM Grand at Foxwoods was renamed the Fox Tower.[152] On May 1, 2014, the company broke ground on the $375-million T-Mobile Arena located behind New-New York Hotel and Casino, in partnership with AEG Live.[153] The arena opened on April 6, 2016.[154] In September 2014, MGM purchased the naming rights for a new baseball stadium in Biloxi, resulting in MGM Park.[155] That same year, the Massachusetts Gaming Commission approved a license for MGM Springfield, an $800-million project.[156]

MGM sold several properties in 2015, including the Railroad Pass Casino,[157][158][159] the Gold Strike,[160][161][162] and properties in Reno (Circus Circus Reno and a 50 percent stake in the Silver Legacy) were sold to Eldorado Resorts for $72.5 million.[163][164]

In April 2016, MGM held an initial public offering for MGM Growth Properties (MGP), a new real estate investment trust (REIT) with ownership of ten of the company's casinos; the parent company would continue to operate the casinos under a lease agreement.[165][166] The offering raised $1.05 billion, and left MGM Resorts with 76 percent ownership of the REIT.[166] In June 2016, MGM announced a joint venture with Sydell Group to renovate and rebrand the Monte Carlo as the Park MGM, named after the adjacent dining and entertainment district, The Park, that opened in April 2016.[167] In August 2016, MGM bought out Boyd Gaming's interest in the Borgata for $900 million, and then sold the property to MGP for $1.2 billion and leased it back for $100 million per year.[168][169]

In 2017, MGM launched two online ventures under the PlayMGM brand: an online sportsbook in Nevada, and an online casino in New Jersey.[170][171][172] In October 2017, MGM purchased the San Antonio Stars of the Women's National Basketball Association.[173] The team was moved to Mandalay Bay Events Center and began play as the Las Vegas Aces in 2018.[174] In August 2018, MGM and Hyatt sold the Grand Victoria Casino to Eldorado Resorts for $328 million.[175][176] In January 2019, MGM bought Yonkers Raceway and Empire City Casino in New York from the Rooney family for $850 million, and then immediately sold the land and buildings to MGP for $625 million, and leased them back for $50 million per year.[177][178]

Response to the COVID-19 pandemic

In August 2020, MGM cut 18,000 job positions as a result of the effects of the COVID-19 pandemic. The job cuts represent one fourth of its workforce, which before the start of the pandemic was 68,000.[179]

Attempts to block tribal casino developments

MGM lobbied the Trump administration against giving federal approval for a casino operated by two native tribes in East Windsor, Connecticut.[180] The casino would have provided competition to a MGM casino across border in Massachusetts.[180]

MGM Hospitality

In 2007, MGM Hospitality was established to operate hotels, resorts and residences in key destinations around the globe using the brands of Bellagio, MGM Grand and Skylofts.[181]

In 2009, the company formed Diaoyutai MGM Hospitality, a joint venture with Diaoyutai State Guesthouse of China (the Chinese Foreign Ministry’s venue for VIPs) which develops and operates 5-star hotels and resorts in China.[182]

In 2014, MGM and Hakkasan Group announced the formation of a joint venture named MGM Hakkasan Hospitality, which would develop non-gaming hotels around the world.[183] The partnership was terminated a year later.[184]

BetMGM

Following the U.S. Supreme Court's May 2018 ruling that struck down the PASPA sports betting ban, in July 2018, MGM announced a 50/50 joint venture with UK gambling operator GVC Holdings (Now known as Entain) to create a sports betting and online gaming platform targeting the U.S. market in states where such activities are legal.[185] In January 2019, the joint venture was named Roar Digital.[186] Additionally with the move into sports betting MGM announced official partnerships with several North American professional sports leagues, including the National Basketball Association,[187] the National Hockey League,[188] and Major League Baseball.[189]

In September of the same year, the company announced a partnership with sports bar chain restaurant Buffalo Wild Wings. The partnership will involve Buffalo Wild Wings sports bars across the country showcasing custom sportsbook content on TV screens inside the bars, featuring live odds provided by BetMGM, as well as the establishment of three new Buffalo Wild Wings sports bars within MGM properties or in partnership with BetMGM as additional states come online. At the end of October 2019, the company established a betting partnership with Yahoo Sports to connect its sports betting online platform to the popular sports website.[190] At the end of October 2019, the company established a betting partnership with Yahoo Sports to connect its sports betting online platform to the popular fantasy sports platform.[190]

In addition to the company's partnerships with leagues, on July 9, 2020, BetMGM announced an exclusive betting partnership with the Denver Broncos of the National Football League[191]. BetMGM would follow this deal with multiple betting partnerships with other NFL teams, including the Detroit Lions,[192] Las Vegas Raiders[193], Tennessee Titans[194], and Pittsburgh Steelers[195]. In late 2020 through early 2021, BetMGM continued to develop its partnership library with other teams in other leagues, including the Detroit Red Wings of the NHL[196], Washington Nationals of MLB[197], and Philadelphia 76ers of the NBA[198], as well as with other business ventures like TopGolf[199] to extend the company's brand image to new bettors in operating markets.

MGM Resorts International properties

All properties are wholly owned by MGM Resorts International except where indicated.

Las Vegas Strip

Mississippi

China

Other properties

Golf courses

Former properties

MGM International Aviation

An MGM Embraer Lineage 1000

The MGM Resorts International Aviation fleet comprises five aircraft (as of March 2020):[203]

MGM Mirage Aviation Fleet
Aircraft In fleet Orders Notes
Embraer Legacy 500 2 –
Embraer Lineage 1000 2 –
Gulfstream G650 1 –
Total 5

Staff and management

The company's top executives include: James Murren, chairman and chief executive officer; Bill Hornbuckle, president of global casino marketing; Brian Sandoval, president of global gambling development; Corey I. Sanders, chief operating officer; and John McManus, executive vice president, general counsel and secretary.[204][205][206][207]

As of 2015, according to the company, among the company's management ranks, more than 38 percent are minorities and nearly 43 percent are women.[208] The company has received wide recognition for its diversity and inclusion initiatives, such as: 40 Best Companies for Diversity (Black Enterprise Magazine),[209] Top 10 Companies for Latinos (DiversityInc Magazine),[210] Best Places to Work for LGBT Equality (Human Rights Campaign Foundation),[211] Top 10 Regional Companies(DiversityInc)[212] and Top Corporation for Women's Business Enterprises (Women's Business Enterprise National Council).[213] Fortune magazine named MGM Resorts one of the World's Most Admired Companies in 2017.[214]

Controversy

MGM Resorts International received criticism for filing a lawsuit on July 18, 2018 against survivors and relatives of victims slain in the October 1, 2017 Las Vegas shooting.[215] MGM has claimed that, because it utilized the security services of Contemporary Services Corporation, a vendor certified by the Department of Homeland Security at the time of the October 1 shooting, any proceedings should be held in federal court where MGM is shielded from liability by the Support Anti-Terrorism by Fostering Effective Technologies Act, also known as the Safety Act.[216] MGM said they are insured for $751 million towards the settlement of the lawsuit which MGM believes will be settled in May 2020.[217] Robert Englet, an attorney to some of the survivors, describes the countersuit as an attempt to get a more favorable judge.[218] Brian Claypool, another attorney of the survivors', called the lawsuits a “public relations nightmare”.[219] MGM's controversial action prompted a public outcry from survivors of the shooting, family members of the victims, lawmakers, and media members in New York State urging the New York State Gaming Commission to block MGM from completing its $850 million deal to purchase Empire City Casino and Yonkers Raceway in Yonkers, New York, which deal had been scheduled to close in January 2019.[220][221] In October 2019, MGM agreed to pay victims and survivors up to $800 million.[222]

Awards and recognition

The company continues to receive wide recognition for its diversity and inclusion initiatives, such as: 40 Best Companies for Diversity (Black Enterprise Magazine) in 2012,[209] Best Places to Work for LGBT Equality (Human Rights Campaign Foundation) in 2013,[211] Top 10 Regional Companies (DiversityInc) in 2014,[212] Top 10 Companies for Latinos (DiversityInc Magazine),[210] and top 100 Companies for MBA Students (Universum Global) in 2014.[223] Fortune has named MGM Resorts one of the World's Most Admired Companies.[214]

References

  1. ^ a b c "U.S. Securities Exchange Commission Form 10-K - February 27, 2020" (PDF). Retrieved 2020-07-06.
  2. ^ "424B4". www.sec.gov. Retrieved 2020-05-11.
  3. ^ Rodkin, Dennis (2004-04-02). "HAVENS; Condo Hotels Move Beyond Resort Towns". The New York Times.
  4. ^ Walshe, Sadhbh (2009-07-29). "In Las Vegas, the house loses". Guardian. London.
  5. ^ A. Eugene Kohn; John D. Macomber; Ben Creo (2009-01-12). "CityCenter (A): Vision and Design". Harvard Business Review: 3–4.
  6. ^ A. Eugene Kohn; John D. Macomber; Ben Creo (2009-01-13). "CityCenter (B): Economics and Delivery". Harvard Business Review: 2.
  7. ^ "World's Biggest Construction Site" (PDF). 2.citycenter.com. Retrieved 10 September 2017.
  8. ^ "MGM Mirage to Take More Than $1 Billion in Write-Downs". Wall Street Journal.
  9. ^ "Kerkorian Stake in MGM Mirage Shrinks". Wall Street Journal.
  10. ^ "MGM To Pay Back $825.6 Million In Debt Following Stock, Note Sales". CNN Money. 2009-05-19. Archived from the original on 2009-05-22.
  11. ^ Finnegan, Amanda (15 June 2010). "MGM Mirage changes name, now MGM Resorts International". Las Vegas Sun. Las Vegas. Retrieved 22 May 2014.
  12. ^ "MGM/UA under Kerkorian meant 20 years of change". Los Angeles Times. March 8, 1990. Retrieved 2013-08-17.
  13. ^ a b Leroy F. Aarons (December 9, 1973). "MGM's tale of woe and wizardry". Washington Post. ProQuest 148369919.  – via ProQuest (subscription required)
  14. ^ Paul E. Steiger (March 12, 1971). "Hilton to buy 6% more of International Leisure". Los Angeles Times. ProQuest 156673172.  – via ProQuest (subscription required)
  15. ^ Leroy F. Aarons (December 7, 1973). "Flat opening for a Grand hotel". Washington Post. ProQuest 148348965.  – via ProQuest (subscription required)
  16. ^ Lou Cannon (May 6, 1978). "High rolling in Reno". Washington Post. ProQuest 147025911.  – via ProQuest (subscription required)
  17. ^ Al Delugach (November 15, 1979). "MGM may split, become movie-TV, casino firms". Los Angeles Times. ProQuest 162726928.  – via ProQuest (subscription required)
  18. ^ a b Pamela G. Hollie (June 3, 1980). "MGM Film offer made, withdrawn". New York Times. ProQuest 423947977.  – via ProQuest (subscription required)
  19. ^ Richard W. Stevenson (November 18, 1985). "Bally-MGM Grand deal announced". New York Times.  – via Factiva (subscription required)
  20. ^ "Bally completes purchase of MGM Grand Hotels". Wall Street Journal. April 28, 1986.  – via Factiva (subscription required)
  21. ^ Lewis Lazare (May 18, 1987). "Bally Plays Nevada Game Before Rolling Dice Again". Crain's Chicago Business.  – via Factiva (subscription required)
  22. ^ "MGM Grand holders will be offered stock in new company". Dow Jones News Service. December 30, 1985.  – via Factiva (subscription required)
  23. ^ a b Form 10-K (Report). MGM Grand Inc. March 29, 1994. p. 1.
  24. ^ Roy J. Harris, Jr. (July 29, 1987). "Tracinda names new president, unveils MGM unit". Wall Street Journal.  – via Factiva (subscription required)
  25. ^ Gellene, Denise (September 7, 1987). "MGM Grand Air takes a flier in luxury service". Los Angeles Times.
  26. ^ "Kerkorian drops bid for Pan American, but Braniff continues to show interest". Wall Street Journal. November 20, 1987.  – via Factiva (subscription required)
  27. ^ "Japanese bid wins Las Vegas casino". New York Times. AP. August 5, 1987. Retrieved 2012-11-17.
  28. ^ "Tracinda unit completes buy". Wall Street Journal. February 3, 1988.  – via Factiva (subscription required)
  29. ^ "MGM Grand's sale of Sands". Wall Street Journal. May 1, 1989.  – via Factiva (subscription required)
  30. ^ a b Turner, Richard (September 20, 1989). "Kerkorian plans movie theme park, hotel in Las Vegas". Wall Street Journal.  – via Factiva (subscription required)
  31. ^ Jefferson, David J. (October 4, 1989). "MGM Grand expands its plan to build Las Vegas studio theme park and hotel". Wall Street Journal.  – via Factiva (subscription required)
  32. ^ Jefferson, David J. (October 26, 1989). "MGM Grand to pay $93 million, stock for resort site". Wall Street Journal.  – via Factiva (subscription required)
  33. ^ "MGM Grand seeks a buyer for hotel". New York Times. August 29, 1990. Retrieved 2012-11-19.
  34. ^ "Desert Inn bought by Tracinda". Las Vegas Review-Journal. July 24, 1991.  – via Factiva (subscription required)
  35. ^ Dye, Tom (October 8, 1991). "MGM park officially under way". Las Vegas Review-Journal.  – via Factiva (subscription required)
  36. ^ Palermo, Dave (December 19, 1993). "MGM draws glittering reviews". Las Vegas Review-Journal.  – via Factiva (subscription required)
  37. ^ Clifford-Cruz, Rebecca (February 23, 2012). "Sun's list of shuttered family-friendly Vegas attractions". Las Vegas Sun. Retrieved October 31, 2015.
  38. ^ "MGM to move headquarters". Las Vegas Review-Journal. June 4, 1992.  – via Factiva (subscription required)
  39. ^ Burbank, Jeff (November 14, 1992). "Kerkorian to buy corner of Tropicana, Strip". Las Vegas Review-Journal.  – via Factiva (subscription required)
  40. ^ Palermo, Dave (August 5, 1994). "New resort to join Strip lineup". Las Vegas Review-Journal.  – via Factiva (subscription required)
  41. ^ Green, Marian (March 31, 1995). "Las Vegas gets taste of Big Apple". Las Vegas Review-Journal.  – via Factiva (subscription required)
  42. ^ Berns, Dave (January 4, 1997). "Visitors rush to see little Big Apple". Las Vegas Review-Journal.  – via Factiva (subscription required)
  43. ^ "Vegas gaming company considering projects in China". Associated Press. August 9, 1994. Retrieved 2012-11-26.
  44. ^ Palermo, Dave (March 18, 1995). "MGM Grand shows interest in buying Australian casino". Las Vegas Review-Journal.  – via Factiva (subscription required)
  45. ^ Smith, Fiona (March 7, 1995). "MGM Grand project joins rush to end Darwin hotel squeeze". Australian Financial Review.  – via Factiva (subscription required)
  46. ^ "Gambling concern acquires Australian casino, hotel". Wall Street Journal. 8 September 1995.  – via Factiva (subscription required)
  47. ^ Orwall, Bruce (July 10, 1996). "MGM to Build Atlantic City casino, joining others heading for resort area". Wall Street Journal.  – via Factiva (subscription required)
  48. ^ Tourtellotte, Bob (January 10, 1997). "MGM Grand plans aggressive move in Detroit". Reuters.  – via Factiva (subscription required)
  49. ^ Meredith, Robyn (July 30, 1999). "Detroit, still blighted, puts hopes in casinos". New York Times. Retrieved 2012-11-26.
  50. ^ Orwall, Bruce (August 1, 1996). "MGM Grand to seek casino licenses in South Africa". Wall Street Journal.  – via Factiva (subscription required)
  51. ^ "MGM Grand, Inc. opens casino in Johannesburg, South Africa" (Press release). MGM Grand. October 2, 1998. Retrieved 2012-11-26.
  52. ^ Ritter, Ken (November 8, 2001). "MGM Mirage selling management operations in South Africa". Associated Press.  – via Factiva (subscription required)
  53. ^ Smith, Hubble (November 10, 1998). "MGM makes $600 million offer to buy Primadonna". Las Vegas Review-Journal.  – via Factiva (subscription required)
  54. ^ Berns, Dave (October 15, 1998). "Primadonna declines MGM buyout". Las Vegas Review-Journal.
  55. ^ "MGM Grand agrees to buy Primadonna in $276.1 million deal". Wall Street Journal. November 10, 1998.
  56. ^ "MGM Grand/Primadonna Resorts Buy -2: In Stock Swap". Dow Jones News Service. March 1, 1999.  – via Factiva (subscription required)
  57. ^ Pollack, Andrew (February 24, 2000). "MGM Grand makes $3.3 billion unsolicited offer for Mirage". New York Times. Retrieved 2012-12-08.
  58. ^ "Severance Package Set for Mirage Chief". The New York Times. March 14, 2000. Retrieved 2014-07-03.
  59. ^ Brinkley, Christina; Deogun, Nikhil (February 24, 2000). "Playing in Vegas: two titans in takeover drama". Wall Street Journal.  – via Factiva (subscription required)
  60. ^ Simpson, Jeff (March 1, 2000). "Mirage rejects MGM Grand bid". Las Vegas Review-Journal.  – via Factiva (subscription required)
  61. ^ Berns, Dave (March 27, 2000). "Wynn pushed Mirage price up". Las Vegas Review-Journal.  – via Factiva (subscription required)
  62. ^ Gogoi, Pailavi; Calamba, Shella (March 6, 2000). "Financing, Wynn role seen keys in Mirage-MGM merger". Capital Markets Report.  – via Factiva (subscription required)
  63. ^ Macy, Robert (May 30, 2000). "Stockholders, Nevada regulators approve $6.4 billion merger". Associated Press Newswires.  – via Factiva (subscription required)
  64. ^ "Stock listing changes". Wall Street Journal. August 2, 2000.  – via Factiva (subscription required)
  65. ^ Berns, Dave; Simpson, Jeff (September 21, 2000). "Joint Jersey project to start". Las Vegas Review-Journal. Retrieved 2012-12-11.
  66. ^ Batt, Tony (July 3, 2003). "Borgata opens doors". Las Vegas Review-Journal. Retrieved 2012-12-11.
  67. ^ "MGM Mirage sees Atlantic City as next big project". Reuters News. February 12, 2002.  – via Factiva (subscription required)
  68. ^ Dave Berns (January 18, 2001). "MGM Mirage shifts gears, will delay Strip development". Las Vegas Review-Journal.  – via Factiva (subscription required)
  69. ^ Judy DeHaven (November 12, 2000). "MGM Grand plans second Atlantic City, N.J., casino". Knight Ridder Tribune Business News.  – via Factiva (subscription required)
  70. ^ Jeff Simpson (July 26, 2003). "MGM Mirage chief patient on development". Las Vegas Review-Journal.  – via Factiva (subscription required)
  71. ^ Patricia Richardson (January 21, 2002). "MGM rolling dice on Rosemont". Crain's Chicago Business.  – via Factiva (subscription required)
  72. ^ Shamus Toomey; Cass Cliatt (March 23, 2002). "State kills MGM, Emerald casino deal". Chicago Daily Herald.  – via Factiva (subscription required)
  73. ^ Douglas Holt (June 5, 2002). "Casino buyout off the table". Chicago Tribune. Retrieved 2013-04-13.
  74. ^ "Macau draws 21 bids for casino licences". Reuters News. December 7, 2001.  – via Factiva (subscription required)
  75. ^ Elaine Kurtenbach (February 9, 2002). "U.S. casinos break monopoly in Macau". Honolulu Advertiser. AP. Retrieved 2013-04-13.
  76. ^ a b Liz Benston (May 27, 2003). "MGM Mirage entering U.K.'s casino market". Las Vegas Sun.  – via Factiva (subscription required)
  77. ^ Jeff Simpson (October 2, 2002). "New Web casino taking bets". Las Vegas Review-Journal.  – via Factiva (subscription required)
  78. ^ "MGM Mirage moves in on UK bookies with licence request". New Media Age. November 15, 2001.  – via Factiva (subscription required)
  79. ^ "500 sign up for casino". Bristol Evening Post. March 10, 2004.  – via Factiva (subscription required)
  80. ^ Liz Benston (October 28, 2003). "MGM Mirage in deal for U.K. casino". Las Vegas Sun.  – via Factiva (subscription required)
  81. ^ "Newcastle United Forms Joint Venture With MGM Mirage". Dow Jones International News. November 15, 2003.  – via Factiva (subscription required)
  82. ^ Adam Goldman (February 3, 2004). "MGM Mirage signs deal to build casino in United Kingdom". Associated Press.
  83. ^ "MGM Mirage chosen for Birmingham, England, casino". Reuters News. December 13, 2005.  – via Factiva (subscription required)
  84. ^ Ken Ritter (April 19, 2004). "US casino company, British firm plan projects in four UK cities". Associated Press Newswires.  – via Factiva (subscription required)
  85. ^ Liz Benston (January 27, 2004). "MGM Mirage buying track, slot firm for $490 million". Las Vegas Sun. Retrieved 2013-04-14.
  86. ^ Liz Benston (June 4, 2003). "Casino giant exiting Internet gaming". Las Vegas Sun.  – via Factiva (subscription required)
  87. ^ Scott Mayerowitz (May 6, 2004). "MGM Mirage drops bid for Lincoln Park, leaving one bidder". Providence Journal.  – via Factiva (subscription required)
  88. ^ "Stanley Leisure buys MLG Investments for GBP29.8M". Dow Jones International News. January 25, 2006.  – via Factiva (subscription required)
  89. ^ Rod Smith (November 17, 2004). "British government deals losing hand to Harrah's, MGM Mirage". Las Vegas Review-Journal.  – via Factiva (subscription required)
  90. ^ Arnold M. Knightly (March 30, 2007). "Las Vegas companies undeterred by U.K. vote". Las Vegas Review-Journal.  – via Factiva (subscription required)
  91. ^ Simpson, Jeff (January 23, 2004). "New owners took over Golden Nugget while you slept". Las Vegas Review-Journal. Retrieved 2012-12-11.
  92. ^ "MGM Mirage completes sale of Darwin hotel and casino" (Press release). MGM Mirage. July 23, 2004. Retrieved 2012-12-11.
  93. ^ a b Ian Mylchreest (June 14, 2004). "Gaming giants come together". Las Vegas Business Press.  – via Factiva (subscription required)
  94. ^ a b Christina Binkley (June 7, 2004). "In bid for Mandalay Resort, MGM Mirage could become biggest casino powerhouse". Wall Street Journal.  – via Factiva (subscription required)
  95. ^ Hubble Smith; Rod Smith (June 6, 2004). "Tale of two companies". Las Vegas Review-Journal.  – via Factiva (subscription required)
  96. ^ Liz Benston (June 16, 2004). "Combined MGM Mirage, Mandalay vow to grow". Las Vegas Sun. Retrieved 2013-04-16.
  97. ^ a b Rod Smith (June 12, 2004). "Casino merger talks fizzle". Las Vegas Review-Journal.  – via Factiva (subscription required)
  98. ^ Rod Smith (June 15, 2004). "Buyout gets OK". Las Vegas Review-Journal.  – via Factiva (subscription required)
  99. ^ Liz Benston (June 15, 2004). "MGM Mirage cites 'juggernaut'". Las Vegas Sun. Retrieved 2013-04-21.
  100. ^ Joel J. Smith (June 17, 2004). "MotorCity Casino to be sold". Detroit News.  – via Factiva (subscription required)
  101. ^ Howard Stutz (December 4, 2004). "MGM Mirage changes tactics in Detroit". Las Vegas Review-Journal.  – via Factiva (subscription required)
  102. ^ R.J. King; Joel J. Smith (March 16, 2005). "Ilitch sews up deal for MotorCity Casino". Detroit News.  – via Factiva (subscription required)
  103. ^ Liz Benston (March 23, 2005). "MGM Mirage delays closing of Mandalay buyout". Las Vegas Sun. Retrieved 2013-04-21.
  104. ^ Kristina Buchthal (March 28, 2005). "Pritzkers up casino ante". Crain's Chicago Business. Retrieved 2013-04-21.
  105. ^ Howard Stutz (April 22, 2005). "Megadeal close to completion". Las Vegas Review-Journal.  – via Factiva (subscription required)
  106. ^ Liz Benston; Richard N. Velotta (February 17, 2005). "FTC signs off on MGM Mirage's buyout of Mandalay Resort Group". Las Vegas Sun. Retrieved 2013-04-21.
  107. ^ Rod Smith (November 13, 2004). "Credit line OK"d". Las Vegas Review-Journal.  – via Factiva (subscription required)
  108. ^ a b Rod Smith (April 26, 2005). "MGM scales top of heap". Las Vegas Review-Journal.  – via Factiva (subscription required)
  109. ^ Howard Stutz (June 14, 2005). "Gaming goliath springs to life". Las Vegas Review-Journal.  – via Factiva (subscription required)
  110. ^ Rod Smith (June 14, 2005). "Documents detail how deal came to be". Las Vegas Review-Journal.  – via Factiva (subscription required)
  111. ^ Jeff Simpson (March 5, 2003). "MGM Mirage deal in Macau possible". Las Vegas Review-Journal.  – via Factiva (subscription required)
  112. ^ Jane Ann Morrison (April 18, 2005). "MGM Mirage partner has familiar last name in Macau gaming circles". Las Vegas Review-Journal.  – via Factiva (subscription required)
  113. ^ Rose, I. N. (2010). "Victim of Its Own Success". Gaming Law Review and Economics. 14 (7): 511–512. doi:10.1089/glre.2010.14701.
  114. ^ Liz Benston (June 21, 2004). "MGM Mirage in deal to build casino in China". Las Vegas Sun. Retrieved 2013-04-27.
  115. ^ Howard Stutz (March 24, 2007). "Commission finds venture suitable". Las Vegas Review-Journal.  – via Factiva (subscription required)
  116. ^ Howard Stutz (June 1, 2005). "MGM Mirage's project in Macau under way". Las Vegas Review-Journal.  – via Factiva (subscription required)
  117. ^ Cassie Biggs (December 18, 2007). "MGM to open casino in Macau". USA Today. AP. Retrieved 2013-04-28.
  118. ^ "MGM makes payment for Vegas CityCenter project". Reuters. March 27, 2009. Retrieved 2014-07-07.
  119. ^ Hubble Smith (November 10, 2004). "Strip "metropolis" planned". Las Vegas Review-Journal.  – via Factiva (subscription required)
  120. ^ Howard Stutz (January 10, 2006). "Bye bye, Boardwalk". Las Vegas Review-Journal.  – via Factiva (subscription required)
  121. ^ Liz Benston (June 30, 2006). "CityCenter forges ahead". In Business Las Vegas.  – via Factiva (subscription required)
  122. ^ a b Steven Mihailovich (January 31, 2005). "MGM finds partner to dance in Singapore". Las Vegas Business Press.  – via Factiva (subscription required)
  123. ^ "Singapore officials receive bids for casino licence". Agence France Presse. March 29, 2006.  – via Factiva (subscription required)
  124. ^ "Las Vegas giants in tight race for Singapore casino licence". Agence France Presse. March 26, 2006.  – via Factiva (subscription required)
  125. ^ Arti Mulchand (May 27, 2006). "Why Las Vegas Sands won Marina Bay bid". Straits Times.  – via Factiva (subscription required)
  126. ^ "MGM Grand hotel will open at Foxwoods as part of partnership". USA TODAY. Associated Press. 2006-04-25. Retrieved 2007-05-30.
  127. ^ Howard, Stutz (2006-10-17). "MGM Mirage selling two Laughlin casinos". Las Vegas Gaming Wire. Retrieved 2007-05-06.
  128. ^ Stutz, Howard (November 1, 2006). "Herbst Gaming to buy Primm properties". Gaming Wire. Las Vegas Review-Journal. Retrieved 2007-03-13.
  129. ^ "Best Vegas Hotels".
  130. ^ Stutz, Howard (April 19, 2007). "MGM buys parcels for new center". Las Vegas Review-Journal. pp. A1+A8.
  131. ^ "MGM inks $5B deal with Dubai World". Reuters. August 22, 2007. Retrieved 2007-08-22. [dead link‍]
  132. ^ Asian casino magnate denies organized crime ties Archived 2016-03-05 at the Wayback Machine (AOL)
  133. ^ MGM’s plan to exit Borgata is approved Philadelphia Inquirer
  134. ^ "MGM Mirage Chooses Macao Over New Jersey".
  135. ^ "MGM Mirage may leave New Jersey in dispute over Macau partner". Las Vegas Sun. February 8, 2010. Retrieved 2014-07-07.
  136. ^ "MGM Mirage completes sale of Treasure Island". Forbes. March 20, 2000. Archived from the original on 2009-03-25. Retrieved 2009-03-20.
  137. ^ "e10vk". February 10, 2012. Archived from the original on 2012-02-10.
  138. ^ Dubai World Says Unit Files Lawsuit Against MGM Mirage (Wall Street Journal)
  139. ^ "Articles". Gamingtoday.com.
  140. ^ MGM Mirage Said to Hire Morgan Stanley to Evaluate Casino Bids (bloomberg.com)
  141. ^ With Casino Stocks, Traders Know When to Fold 'Em (Wall Street Journal)
  142. ^ "MGM Mirage shareholders approve name change". Las Vegas Review-Journal. 2010-06-15.
  143. ^ GARCIA, OSKAR (2010-06-15). "MGM Mirage Changes Name To MGM Resorts Int'l".[permanent dead link‍]
  144. ^ "MGM China prices $1.5 billion IPO at top end as sector booms". Reuters. 27 May 2011.
  145. ^ Vinicy Chan (9 January 2013). "MGM China Gets Formal Approval For New Casino in Macau". Bloomberg.com.
  146. ^ Wagner, John (8 May 2013). "MGM confirms plans to bid for Prince George's County casino". Washington Post. Retrieved 8 May 2013.
  147. ^ du Lac, J. Freedom; Wagner, John (December 20, 2013). "MGM gets the deal for Maryland's sixth casino, at National Harbor in Prince George's". The Washington Post. Retrieved 2014-07-07.
  148. ^ "MGM Springfield to get state's 1st casino license". Boston Globe Media. June 11, 2014. Archived from the original on June 14, 2014. Retrieved 2014-07-03.
  149. ^ "MGM selects Whiting-Turner to build $1B National Harbor casino-resort (Video)". Washington Business Journal. June 24, 2014. Retrieved 2014-07-03.
  150. ^ Stutz, Howard. "Massachusetts voters approve MGM Resorts' casino plan", "The Las Vegas Review-Journal", Las Vegas, NV. 18 July 2013. Retrieved on 22 May 2014.
  151. ^ Snell, Alan. "Shovels in the ground, confetti in the air", "The Las Vegas Review-Journal", Las Vegas, NV. 1 May 2014. Retrieved on 22 May 2014.
  152. ^ Sturdevant, Matthew. "MGM Grand At Foxwoods Renamed The Fox Tower". Hartford Courant. Retrieved 17 January 2017.
  153. ^ Rindels, Michelle. “MGM, AEG break ground on Las Vegas Strip arena” Archived May 12, 2014, at the Wayback Machine, "Associated Press", Las Vegas, May 1, 2014. Retrieved 23 May 2014.
  154. ^ "T-Mobile Arena lives up to the hype — PHOTOS". 7 April 2016.
  155. ^ Reichard, Kevin (September 24, 2014). "It's official: New Biloxi ballpark to be MGM Park".
  156. ^ Robbins, Carolyn. "Massachusetts Gaming Commission OKs licenses for MGM Springfield, Wynn Resorts", "masslive.com", Boston, November 6, 2014. Retrieved December 5, 2014.
  157. ^ Form 10-K: Annual Report (Report). MGM Resorts International. March 2, 2015. p. 76. Retrieved 2015-04-06 – via EDGAR.
  158. ^ Arnold M. Knightly (September 5, 2014). "Developer buying Railroad Pass from MGM". Las Vegas Review-Journal. Retrieved 2014-09-07.
  159. ^ J.D. Morris (April 1, 2015). "MGM Resorts finalizes sale of Railroad Pass". Vegas Inc. Retrieved 2015-04-06.
  160. ^ Form 10-K: Annual Report (Report). MGM Resorts International. March 2, 2015. p. 76. Retrieved April 6, 2015 – via EDGAR.
  161. ^ Morris, J.D. (October 16, 2014). "MGM Resorts selling Gold Strike in Jean". Vegas Inc. Retrieved October 24, 2014.
  162. ^ Jones, Lars (May 4, 2015). "MGM/Jett Gaming LLC close on Gold Strike Casino". World Casino News. Retrieved July 27, 2015.
  163. ^ Howard Stutz (July 7, 2015). "MGM sells Reno casino holdings for $72.5 million". Las Vegas Review-Journal. Retrieved 2015-07-07.
  164. ^ Mike Higdon (November 24, 2015). "It's official: Eldorado Resorts buys Circus Circus and Silver Legacy". Reno Gazette-Journal. Retrieved 2018-05-29.
  165. ^ J.D. Morris (October 29, 2015). "MGM Resorts announces restructuring plan involving 10 properties". Vegas Inc. Retrieved 2015-10-29.
  166. ^ a b Lauren Hirsch (April 20, 2016). "MGM Growth raises $1.05 billion in IPO". Las Vegas Review-Journal. Reuters. Retrieved 2016-04-20.
  167. ^ Olmsted, Larry. "Bye Bye Monte Carlo: Las Vegas Casino Resort Being Replaced".
  168. ^ Heitner, Darren. "MGM Buys Boyd Gaming's Share Of Borgata For $900 Million". Forbes. Retrieved 2 June 2016.
  169. ^ "MGM Growth Properties LLC and MGM Resorts International complete transactions for acquisition of Borgata Hotel Casino & Spa" (Press release). MGM Growth Properties. August 1, 2016. Retrieved 2018-05-29 – via PR Newswire.
  170. ^ "MGM Looks To Shake Up An Already-Competitive Nevada Market With New playMGM Mobile Sports Betting App". Legal Sports Report. 2017-05-10. Retrieved 2017-11-21.
  171. ^ "MGM Resorts International Introduces Real-Money Online Gaming In New Jersey On playMGM.com Platform". Prnewswire.com (Press release). MGM Resorts International. Retrieved 2017-08-13.
  172. ^ Duren, J.R. (2017-08-10). "MGM Launches Its First Branded, Real-Money Online Gambling Site In NJ". NJ Gambling Websites. Retrieved 2017-08-13.
  173. ^ "W.N.B.A. moves into Las Vegas, joining the N.H.L. and N.F.L." New York Times. AP. October 17, 2017. Retrieved 2018-08-07.
  174. ^ Sam Gordon (May 6, 2018). "A'ja Wilson scores 20 as Aces roll past Chinese National Team". Las Vegas Review-Journal. Retrieved 2018-08-07.
  175. ^ Corilyn Shropshire (April 16, 2018). "Elgin's Grand Victoria Casino to sell for $327.5 million". Chicago Tribune. Retrieved 2018-04-23.
  176. ^ "Eldorado Resorts completes acquisition of Grand Victoria Casino" (Press release). Eldorado Resorts. August 7, 2018. Retrieved 2018-08-07 – via Business Wire.
  177. ^ Kinney, Jim (January 30, 2019). "MGM finalizes $850 million deal for Empire City Casino in Yonkers, New York". The Republican. Springfield, MA. Retrieved 2019-02-16.
  178. ^ "MGM Resorts International and MGM Growth Properties complete transaction to acquire Empire City Casino in Yonkers, New York" (Press release). MGM Resorts International. January 29, 2019. Retrieved 2019-02-16 – via PR Newswire.
  179. ^ Sayre, Katherine (August 28, 2020). "MGM Resorts Lays off 18,000 Workers". The Wall Street Journal. Retrieved August 28, 2020.
  180. ^ a b "Senior Justice Dept. official stalled probe against former interior secretary Ryan Zinke, sources say". The Washington Post. 2020.
  181. ^ Milligan, Michael, “MGM Mirage forms subsidiary to develop luxury hotels”, "Travel Weekly", May 29, 2007. Retrieved 14 May 2014.
  182. ^ Ti, Zhuan. “Diaoyutai MGM Hospitality Expands Presence in China” Archived 2014-05-17 at the Wayback Machine, "China Daily", July 22, 2013. Retrieved 14 May 2014.
  183. ^ Mac, Ryan. “MGM Joins Venture with Hakkasan to Build Non-Gaming Hotels Worldwide” "Forbes", April 15, 2014. Retrieved 14 May 2014.
  184. ^ Form 10-K: Annual Report (Report). MGM Resorts International. February 29, 2016. p. 7 – via EDGAR.
  185. ^ "MGM RESORTS INTERNATIONAL AND GVC HOLDINGS PLC ANNOUNCE JOINT VENTURE TO CREATE LEADING SPORTS BETTING AND INTERACTIVE GAMING PLATFORM IN THE U.S." Investors.mgmresorts.com (Press release). Retrieved 1 May 2021.
  186. ^ "MGM-GVC's US joint venture named Roar Digital". iGamingBusiness.com. 2019-01-09. Retrieved 1 May 2021.
  187. ^ Roberts, Daniel. "NBA holds all the cards in sports betting deal with MGM". Yahoo! Finance. Retrieved 1 May 2021.
  188. ^ Rosen, Dan. "NHL, MGM Resorts form sports betting partnership". NHL.com. Retrieved 1 May 2021.
  189. ^ Purdum, David; Rovell, Darren (2018-11-27). "MLB and MGM Resorts International strike gaming partnership". ESPN.com. Retrieved 1 May 2021.
  190. ^ a b "Buffalo Wild Wings Partners With BetMGM to Bring Sports Gaming Experiences to Fans Nationwide". Business Wire. 5 September 2019. Retrieved 1 May 2021. Cite error: The named reference "BusinessWire" was defined multiple times with different content (see the help page).
  191. ^ "Broncos & BetMGM agree to multi-year sports betting partnership, which includes premium lounge at Empower Field at Mile High". denverbroncos.com.
  192. ^ "Lions name BetMGM first official sports betting partner". detroitlions.com.
  193. ^ "Raiders Make BetMGM their official betting partner". marketwatch.com.
  194. ^ "Tennessee Titans Announce BetMGM As First Official Sports Betting Partner". tennesseetitans.com.
  195. ^ "Pittsburgh Steelers announce gaming partnership with BetMGM". yahoo.com.
  196. ^ "Detroit Red Wings renew and expand BetMGM strategic partnership". nhl.com.
  197. ^ "A sportsbook is coming to Nationals Park as part of Nationals' new partnership with BetMGM". washingtonpost.com.
  198. ^ "Team Announces BetMGM as an Official Sports Betting Partner". nba.com.
  199. ^ "SPORTS BETTING IS COMING TO A DRIVING RANGE NEAR YOU". sportico.com.
  200. ^ Form 10-K: Annual Report (Report). MGM Resorts International. March 1, 2018. p. 72 – via EDGAR.
  201. ^ "About Us". Diaoyutai MGM Hospitality. Archived from the original on 2018-04-27. Retrieved 2018-04-26.
  202. ^ Form 10-K: Annual Report (Report). MGM Resorts International. March 1, 2018. p. 4 – via EDGAR.
  203. ^ "MGM Mirage Aviation Fleet". 14 March 2020.
  204. ^ Rocco, Matthew (24 January 2019). "MGM board to evaluate real estate portfolio". FT.com. Retrieved 5 February 2019.
  205. ^ Bean, Jason (8 January 2019). "Sandoval announces his next gig: President of MGM Resorts' international expansion push". Reno Gazette Journal. Retrieved 5 February 2019.
  206. ^ Prince, Todd (29 July 2019). "MGM in talks with sports betting company about joint venture". Las Vegas Review-Journal. Retrieved 5 February 2019.
  207. ^ Sernovitz, Daniel (12 January 2017). "MGM Resorts International discloses plans for D.C. lobby shop". Washington Business Journal. Retrieved 5 February 2019.
  208. ^ "MGM Resorts Named Among Nation's Top Companies for Diversity By DiversityInc" (Press release). MGM Resorts International. 28 April 2015.
  209. ^ a b "Black Enterprise Magazine" (PDF). Cdn.blackenterprise.com. Retrieved 10 September 2017.
  210. ^ a b "The DiversityInc Top 50 Companies for Diversity". Archived from the original on 2014-02-01. Retrieved 2018-12-08.
  211. ^ a b "Best Places to Work 2013". Archived from the original on 2014-01-06. Retrieved 2014-01-23. "Human Rights Campaign". Retrieved 23 January 2014.
  212. ^ a b "The DiversityInc Top 11 Regional Companies". Archived from the original on 2016-10-29. Retrieved 2018-12-08.
  213. ^ "America's Top Corporations for WBEs - Current Recipients". WBENC.
  214. ^ a b "MGM Resorts International". Fortune.com. Retrieved 10 September 2017.
  215. ^ "Las Vegas Shooting Hotel Sues Survivors to Avoid Liability". The Guardian. July 2018.
  216. ^ "Mandalay Bay Owner Files Complaint Against Victims in Las Vegas Shooting". NBC News.
  217. ^ "MGM Might Pay $800 Million in Las Vegas Shooting Settlement". US News. May 17, 2019. Retrieved May 17, 2019.
  218. ^ "Mandalay Bay Owners Sue Victims of Las Vegas Shooting". New York Post. July 17, 2018.
  219. ^ Cano, Regina (18 July 2018). "MGM sues Las Vegas massacre victims in hopes of limiting liability". Chicago Tribune. Retrieved 5 February 2019.
  220. ^ Lungariello, Mark (September 28, 2018). "Suit against Las Vegas victims imperils MGM's bid to buy Empire City". Rockland/Westchester Journal News. Retrieved October 27, 2018.
  221. ^ O'Connell-Domenech, Alejandra (October 1, 2018). "Queens assemblyman urges gaming commission to reject MGM purchase of Empire City Casino and Yonkers Raceway". QNs.
  222. ^ Oppel, Richard A. Jr. (2019-10-03). "MGM Agrees to Pay Las Vegas Shooting Victims Up to $800 Million". The New York Times. ISSN 0362-4331. Retrieved 2020-05-11.
  223. ^ "Top MBA Employers 2013: Full list". Money.cnn.com. Retrieved 10 September 2017.
Wikimedia Commons has media related to MGM Resorts International.
  • Official website
  • Business data for MGM Resorts International:
Retrieved from "https://en.wikipedia.org/enwiki/w/index.php?title=MGM_Resorts_International&oldid=1020958245"