−Removed: MGM Resorts International is referred to as the “Company,” “MGM Resorts,” or the “Registrant,” and together with its subsidiaries may also be referred to as “we,” “us” or “our.” MGM China Holdings Limited together with its subsidiaries is referred to as “MGM China.” Except where the context indicates otherwise, “MGP” refers to MGM Growth Properties LLC together with its consolidated subsidiaries.
−Removed: MGM Resorts International is a Delaware corporation incorporated in 1986 that acts largely as a holding company and, through subsidiaries, is a global gaming and entertainment company with domestic and international locations featuring best-in-class hotels and casinos, state-of-the-art meeting and conference spaces, incredible live and theatrical entertainment experiences, and an extensive array of restaurant, nightlife and retail offerings, and sports betting and online gaming operations.
+Added: MGM Resorts International is referred to as the “Company,” “MGM Resorts,” or the “Registrant,” and together with its subsidiaries may also be referred to as “we,” “us” or “our.” MGM China Holdings Limited together with its subsidiaries is referred to as “MGM China.”
+Added: MGM Resorts International is a Delaware corporation incorporated in 1986 that acts largely as a holding company and, through subsidiaries, is a global gaming and entertainment company with domestic and international locations featuring best-in-class hotels and casinos, state-of-the-art meeting and conference spaces, incredible live and theatrical entertainment experiences, and an extensive array of restaurant, nightlife and retail offerings, as well as sports betting and online gaming operations.
We believe we operate several of the finest casino properties in the world and we continually reinvest in our properties to maintain our competitive advantage.
3 unchanged sentences
We also believe that through our online gaming operations, we can create a scaled global online gaming business.
−Removed: As of December 31, 2023, we operate 16 domestic casino properties and, through our 56% controlling interest in MGM China Holdings Limited (together with its subsidiaries, “MGM China”), which owns MGM Grand Paradise, S.A.
+Added: As of December 31, 2024, we operate 16 domestic casino properties and, through our 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”), operate two casino properties in Macau.
−Removed: We also have global online gaming operations through our consolidated subsidiary LV Lion Holding Limited (“LeoVegas”) and our unconsolidated 50% owned venture, BetMGM, LLC (“BetMGM”).
−Removed: We also have a 50% ownership interest in Osaka IR KK, an unconsolidated affiliate, which plans to develop an integrated resort in Osaka, Japan.
+Added: Additionally, through our 50% ownership interest in Osaka IR KK, an unconsolidated affiliate, we are developing an integrated resort in Osaka, Japan.
+Added: We also have global online gaming operations primarily through our consolidated subsidiary LV Lion Holding Limited (together with its subsidiaries, “LeoVegas”) and through our 50% ownership interest in BetMGM, LLC (“BetMGM North America Venture”), an unconsolidated affiliate.
We lease the real estate assets of our domestic properties pursuant to triple net lease agreements, as further discussed in Note 11.
1 unchanged sentence
At the same time, we have continued to focus on key growth opportunities that align with our vision, particularly by investing in U.S.
−Removed: online sports betting and iGaming through BetMGM, acquiring LeoVegas to expand our global online presence, expanding our digital capabilities, and seeking to diversify our Asia operations with development efforts in Japan.
+Added: online sports betting and iGaming through BetMGM North America Venture, acquiring LeoVegas to expand our global online presence, expanding our digital capabilities, and seeking to diversify our Asia operations with development efforts in Japan.
As part of that business strategy, we have sought and executed on opportunities to invest in our growth areas, divest our real estate assets, and acquire, or enter into venture transactions, with respect to online gaming and the operations of integrated casino, hotel, and entertainment properties.
1 unchanged sentence
Management’s Discussion and Analysis of Financial Condition and Results of Operations,” as well as the notes to our consolidated financial statements.
−Removed: Resort Operations
Most of our revenue is cash-based, through customers wagering with cash or paying for non-gaming services with cash or credit cards.
−Removed: We rely on the ability of our properties to generate operating cash flow to fund capital expenditures, provide excess cash flow for future development, acquisitions or investments, and repay debt financings.
−Removed: Our results of operations do not tend to be seasonal in nature as all of our casino properties typically operate 24 hours a day, every day of the year, with the exception of Empire City, which operates 20 hours a day, every day of the year, though a variety of factors may affect the results of any interim period, including the timing of major conventions, Far East
−Removed: baccarat volumes, the timing of entertainment and sports events, the amount and timing of marketing and special events for our high-end gaming customers, and the level of play during major holidays, including New Year and Lunar New Year.
+Added: We rely on the ability of our operations to generate operating cash flow to fund capital expenditures, provide excess cash flow for future development, acquisitions or investments, and repay debt financings.
+Added: Our results of operations do not tend to be seasonal in nature as our digital operations and all of our casino properties typically operate 24 hours a day, every day of the year, with the exception of Empire City, which operates 20 hours a day, every day of the year.
+Added: However, a variety of factors may affect the results of any interim period, including the timing of major conventions, Far East baccarat volumes, the timing of entertainment and sports events, the amount and timing of marketing and special events for our high-end gaming customers, and the level of play during major holidays,
+Added: including New Year and Lunar New Year.
Our primary casino and hotel operations are owned and managed by us.
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We also lease space to third-party retail and food and beverage operators, particularly for branding opportunities.
−Removed: As of December 31, 2023, we have three reportable segments:
−Removed: Las Vegas Strip Resorts, Regional Operations, and MGM China, as generally described below.
+Added: As of December 31, 2024, we have four reportable segments:
+Added: Las Vegas Strip Resorts, Regional Operations, MGM China, and MGM Digital, as generally described below.
See Note 17 for detailed financial information about our reportable segments.
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Las Vegas Strip Resorts consists of the following casino resorts:
−Removed: Aria (including Vdara) (upon its acquisition in September 2021), Bellagio, The Cosmopolitan of Las Vegas (“The Cosmopolitan”) (upon its acquisition in May 2022), MGM Grand Las Vegas (including The Signature), Mandalay Bay (including Delano and Four Seasons), The Mirage (until its disposition in December 2022), Luxor, New York-New York (including The Park), Excalibur, and Park MGM (including NoMad Las Vegas).
+Added: Aria (including Vdara), Bellagio, The Cosmopolitan of Las Vegas (“The Cosmopolitan”) (upon its acquisition in May 2022), MGM Grand Las Vegas (including The Signature), Mandalay Bay (including W Las Vegas and Four Seasons), The Mirage (until its disposition in December 2022), Luxor, New York-New York (including The Park), Excalibur, and Park MGM (including NoMad Las Vegas).
Regional Operations.
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We believe our ownership interest in MGM China plays an important role in extending our reach internationally and will foster future growth and profitability.
−Removed: Although visitation during 2021 and 2022 was significantly reduced by the novel 2019 coronavirus (“COVID-19”) pandemic, visitation during 2023 rebounded, and we expect the long-term future growth of the Asian gaming market to drive additional visitation at MGM Macau and MGM Cotai.
+Added: Although visitation during 2022 was significantly reduced by the novel 2019 coronavirus (“COVID-19”) pandemic, visitation during 2023 and 2024 rebounded, and we expect the long-term future growth of the Asian gaming market to drive additional visitation at MGM Macau and MGM Cotai.
Our current MGM China operations relate to MGM Macau and MGM Cotai, discussed further below.
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Gaming in Macau is currently administered by the Macau Government through concessions awarded to six different concessionaires.
+Added: MGM Digital is our online gaming portfolio which is primarily comprised of LeoVegas, which is headquartered in Sweden and Malta and operates internationally, primarily in Europe, as well as our other consolidated subsidiaries that offer interactive gaming.
+Added: Revenues are derived from its online gaming product offerings, which include iGaming, digital slots and table games, as well as live dealer and online sports betting.
Corporate and Other
−Removed: We have additional business activities including LeoVegas, our investments in unconsolidated affiliates, including BetMGM, and certain other corporate and management operations.
+Added: We have additional business activities including our investments in unconsolidated affiliates and certain other corporate and management operations.
+Added: Our investments in unconsolidated affiliates are primarily comprised of our ventures, such as BetMGM North America Venture and Osaka IR KK.
Customers and Competition
−Removed: Our properties operate in highly competitive environments.
+Added: We operate in highly competitive environments.
We compete against gaming companies, as well as other hospitality companies in the markets in which we operate, neighboring markets, and in other parts of the world, including non-gaming resort destinations such as Hawaii.
−Removed: Our gaming operations compete to a lesser extent with state-sponsored lotteries, off-track wagering, card parlors, iGaming and other forms of legalized gaming in the United States and internationally.
+Added: Our gaming operations compete to a lesser extent with state-sponsored lotteries, off-track wagering, card parlors, and other forms of legalized gaming in the United States and internationally.
For further discussion of the potential impact of competitive conditions on our business, see “Item 1A.
−Removed: Risk Factors — Risks Related to our Business, Industry, and Market Conditions — We face significant competition with respect
−Removed: to destination travel locations generally and with respect to our peers in the industries in which we compete, including increased competition through online sports betting and iGaming, and failure to compete effectively could materially adversely affect our business, financial condition, results of operations and cash flows.”
+Added: Risk Factors — Risks Related to our Business, Industry, and Market Conditions — We face significant competition with respect to destination travel locations generally and with respect to our peers in the industries in which we compete, including increased competition through online sports betting and iGaming, and failure to compete effectively could materially adversely affect our business, financial condition, results of operations and cash flows.”
Our primary methods of successfully competing include:
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Many of our properties have significant convention and meeting space which we utilize to drive business to our properties during midweek and off-peak periods.
−Removed: Our Las Vegas casino resorts compete for customers with a large number of other hotel casinos in the Las Vegas area, including major hotel casinos on or near the Las Vegas Strip, major hotel casinos in the downtown area, which is about five miles from the center of the Las Vegas Strip, and several major hotel casinos elsewhere in the Las Vegas area.
+Added: Our Las Vegas casino properties compete for customers with a large number of other hotel casinos in the Las Vegas area, including major hotel casinos on or near the Las Vegas Strip, major hotel casinos in the downtown area, which is about five miles from the center of the Las Vegas Strip, and several major hotel casinos elsewhere in the Las Vegas area.
Our Las Vegas Strip Resorts also compete, in part, with each other.
3 unchanged sentences
In addition, we compete with gaming operations in surrounding jurisdictions and other leisure destinations in each region.
−Removed: The Macau gaming market has historically had three primary customer bases:
−Removed: VIP gaming operations, main floor gaming operations and slot machine operations.
−Removed: VIP gaming at MGM China is conducted through the use of special purpose nonnegotiable gaming chips.
−Removed: The nonnegotiable chips allow us to track the amount of wagering conducted to determine VIP gaming play.
−Removed: VIP commissions are based on a percentage of rolling chip turnover and are recorded as a reduction of casino revenue.
−Removed: Main floor players do not receive commissions.
−Removed: We have focused our business on main floor gaming operations and, accordingly, VIP gaming operations were not a significant source of revenue in 2022 and 2023 and we do not expect VIP gaming operations will be a significant source of revenue in future years.
+Added: The Macau gaming market has two primary customer bases:
+Added: main floor gaming operations and slot machine operations.
The majority of MGM China’s casino revenue has been provided by main floor gaming operations in recent years and we expect this customer base will be the primary source of growth in the future.
We offer amenities to attract players such as premium gaming lounges and stadium-style electronic table games terminals, which include both table games and slots to create a dedicated exclusive gaming space for premium main floor players’ use, as well as non-gaming amenities, such as The Mansion and MGM Cotai Emerald Villa to attract ultra-high end customers.
−Removed: In December 2021, we suspended operations with our primary gaming promoters indefinitely.
−Removed: Prior to December 2021, we had externally sourced VIP gaming play through external gaming promoters who assisted VIP players with their travel and entertainment arrangements.
−Removed: Gaming promoters purchased special purpose nonnegotiable gaming chips and, in turn, they sold these chips to their players.
−Removed: Gaming promoters were compensated through payment of revenue-sharing arrangements based on a percentage of the gross table games win and through payment of a percentage of rolling chip turnover.
−Removed: They also received an allowance based on a percentage of the table games turnover they generated, which could be applied to hotel rooms, food and beverage and other discretionary customer-related expenses.
−Removed: Gaming promoter commissions were recorded as a reduction of casino revenue.
Our key competitors in Macau include five other gaming concessionaires.
We also encounter competition from major gaming centers located in other areas of Asia and around the world including, but not limited to, Singapore, South Korea, Vietnam, Cambodia, the Philippines, Australia, and Las Vegas.
−Removed: Our marketing efforts are conducted through various means, including our loyalty programs.
−Removed: We advertise on radio, television, internet and billboards and in newspapers and magazines in selected cities throughout the United States and overseas, as well as by direct mail, email and through the use of social media.
−Removed: We also advertise through our regional marketing offices located in major U.S.
−Removed: and foreign cities.
−Removed: Our direct marketing efforts utilize advanced analytic techniques that identify customer preferences and help predict future customer behavior, allowing us to make more relevant offers to customers, influence incremental visits, and help build lasting customer relationships.
−Removed: MGM Rewards, our customer loyalty program, is a tiered program and allows customers to qualify for benefits across our participating properties and in both gaming and non-gaming areas, encouraging customers to keep their total spend within our casino properties.
−Removed: As members advance through tiers, a host of member benefits are unlocked including priority access, exclusive events and experiences, and the opportunity to redeem MGM Rewards for hotel stays, food and beverage, and other MGM Resorts experiences.
−Removed: We also offer the Golden Lion Club for gaming focused customers, in addition to M life, at MGM China.
−Removed: The structured rewards systems based on member value and tier level ensure that customers can progressively access the full range of services that the properties provide.
−Removed: Our loyalty programs focus on building a rewarding relationship with our customers, encouraging members to increase both visitation and spend.
−Removed: We strive to be a leader in the global gaming, entertainment and hospitality industry that delivers extraordinary entertainment across a portfolio of properties in the United States and Macau.
−Removed: The quality of our properties and amenities is evidenced by our success in winning numerous awards, both domestic and globally, including several Four and Five Diamond designations from the American Automobile Association, multiple Four and Five Star designations from Forbes Travel Guide and numerous certifications of our Corporate Social Responsibility efforts.
−Removed: In order to achieve our vision of becoming the world's premier gaming entertainment company , we developed our strategic plan, which centers on five pillars:
+Added: Our digital customers are located within the geolocation of the jurisdictions in which we are licensed to operate.
+Added: By operating in licensed markets, which are subject to costs in the form of gaming taxes, we benefit from higher barriers to entry, which changes the competitive picture and provides value to companies such as ours.
+Added: Our primary competitors are
+Added: other international online gaming companies.
+Added: We also face competition from integrated resorts as well as other providers of entertainment.
+Added: Our marketing strategy is deeply rooted in personalized engagement powered by advanced analytics to create experiences that resonate with our current and desired guests.
+Added: Personalized marketing serves as a critical driver of growth for the company, enabling us to deepen customer loyalty, increase engagement, and enhance lifetime value by aligning our offerings with each guest segment’s unique preferences and needs.
+Added: Central to this approach is MGM Rewards, our tiered loyalty program, which enables customers to earn benefits across gaming and non-gaming experiences.
+Added: This program serves as a vital tool for capturing guest preferences and behaviors, allowing us to personalize interactions, offers, and experiences that are meaningful to each guest.
+Added: As members progress through program tiers, they unlock exclusive benefits such as customized offers, priority access, and invitations to special events along with hotel stays, dining credits, and unique MGM Resorts experiences.
+Added: At MGM China, we offer the M life loyalty program, which provides loyalty opportunities similar to MGM Rewards for non-gaming customers, and the Golden Lion Club for gaming focused customers.
+Added: By incentivizing customers within our physical properties and with BetMGM North America Venture, we foster loyalty and increase customer lifetime value.
+Added: In addition to our loyalty programs, we leverage multiple marketing channels—including brand ambassadors, online, radio, television, print, and billboards in select U.S.
+Added: and international cities.
+Added: Our regional marketing offices and direct outreach channels via mail, email, and social media ensure consistent engagement.
+Added: Our advanced data and analytics capabilities underpin our direct marketing, enabling us to segment customers based on preferences, behaviors, and their overall value to the organization.
+Added: This segmentation allows us to deliver the highest level of personalized experiences across guest tiers, ensuring our product and program investments align with customer desires, drive incremental visits, and strengthen long-term relationships.
+Added: We leverage paid media and various social channels to reach our desired guests with precision, using targeted segmentation to deliver personalized content that resonates with specific customer interests and preferences.
+Added: This allows us to engage high-value segments more effectively, amplifying brand loyalty and optimizing our marketing investments by connecting the right guests with the right offers and experiences.
+Added: Our vision is to become the world’s premier gaming entertainment company .
+Added: We are focused on driving profitability in our integrated resorts in the U.S.
+Added: and Macau, expanding our international brick-and-mortar footprint in the world’s premier gaming markets, growing our global digital brands, and efficient capital allocation.
+Added: Our globally recognized brands, strategically located assets, development opportunities, and evolving digital platforms allow us to reach an unparalleled target addressable market.
+Added: To achieve our vision, we developed our strategic plan, which is built on five pillars:
• Strong People and Culture.
Recruit, develop and retain the best talent.
−Removed: Foster a culture of diversity and inclusion.
−Removed: Invest in the employee experience.
+Added: Cultivate a culture of respect and a workplace that reflects our communities, employees, partners, and stakeholders.
• Customer-Centric Model .
−Removed: Leverage a customer-centric model reinforced by a strong brand and deep customer insights to provide unmatched entertainment experiences for our guests and drive top-line growth.
+Added: Prioritize our customers by leveraging our collection of strong brands and insights from our leading customer loyalty program, MGM Rewards, to deliver exceptional entertainment experiences and revenue growth.
• Gaming Entertainment.
−Removed: Innovate our gaming entertainment product to drive continued premium offering and competitive differentiation.
−Removed: Distribute our product offering to serve the broadest total addressable market possible.
+Added: Innovate our gaming entertainment offerings to elevate quality and competitive edge.
+Added: Expand our reach across both physical and online platforms to serve the widest possible market.
• Operational Excellence .
−Removed: Operating model refinement to diversify business mix, maximize operating efficiencies and expand margins.
−Removed: Enhancement of digital capabilities to strengthen customer loyalty.
+Added: Continuously refine our operating model to diversify business mix, improve operating efficiencies and increase margins.
+Added: Strengthen digital capabilities to enhance customer loyalty.
• Disciplined Capital Allocation to Maximize Shareholder Value.
−Removed: Pursuit of targeted, attractive ROI opportunities that align to our strategic vision.
−Removed: Focus on shareholder returns.
−Removed: Fortify balance sheet.
−Removed: The strategic plan was developed with the intent to regularly revisit, measure, and reevaluate for emerging opportunities.
−Removed: In allocating resources, our financial strategy is focused on maintaining and enhancing our existing properties, strategic growth opportunities via mergers and acquisitions and development, debt repayment and shareholder returns.
−Removed: We believe there are reasonable investments for us to make in new initiatives and at our current properties that will provide profitable returns.
−Removed: We regularly evaluate targeted opportunities that provide an attractive return on investment in domestic and international markets, including the ownership, management and operation of gaming and non-gaming facilities and accessing new markets for iGaming and online sports betting.
−Removed: We also leverage our management expertise and well-recognized brands through strategic partnerships and international expansion opportunities.
−Removed: We continue to maximize the benefits of our operating model by driving optimization of our Centers of Excellence and enabling best in class operations through adjustments within corporate and property business units.
−Removed: In addition, we have implemented several improvement and cost cutting initiatives comprised of labor, sourcing, and revenue programs that have further improved our operating model and have positioned us as a stronger company.
−Removed: We have continued to focus on our key growth opportunities of developing an integrated resort in Japan, investing in BetMGM, investing in international digital opportunities, and exploring a full-scale commercial gaming opportunity in
−Removed: In Japan, Osaka IR KK signed an agreement with Osaka Prefecture and Osaka City in September 2023 to implement an Area Development Plan (“ADP”) for the development of an integrated resort in Osaka, Japan.
−Removed: As it relates to BetMGM, we believe that BetMGM is well-positioned as a long-term leader in online sports betting and iGaming.
−Removed: As part of our commitment to the success of BetMGM, we have integrated our MGM Rewards program with BetMGM and have BetMGM branded on-property sportsbooks and kiosks to drive higher value customers at lower acquisition costs through a robust omni-channel strategy.
−Removed: We expanded our international digital presence in August 2023 when we launched the BetMGM brand in the UK, leveraging the technology of LeoVegas.
−Removed: We seek to further expand the BetMGM and LeoVegas brands into other geographies over time.
−Removed: Further, in connection with our vision to transform Empire City in New York into a full-scale commercial gaming facility, we are actively working on our response to the request for application that was issued in January 2023 for three downstate commercial gaming licenses.
−Removed: Internationally, in the United Arab Emirates (“UAE”), we currently have a non-gaming management agreement with Wasl Hospitality to bring the Bellagio, Aria, and MGM Grand brands to Dubai.
+Added: Pursue targeted, attractive ROI opportunities that align with our strategic vision.
+Added: Prioritize shareholder returns and maintain a strong balance sheet.
+Added: The strategic plan is designed for ongoing review, measurement, and adjustment to seize emerging opportunities.
+Added: In allocating resources, our financial strategy is focused on maintaining and enhancing existing properties, pursuing strategic growth through mergers, acquisitions and development, repaying debt and maximizing shareholder returns.
+Added: We believe there are sound investment opportunities in new initiatives and at existing properties that will deliver profitable returns.
+Added: We regularly evaluate targeted opportunities in both domestic and international markets that provide attractive returns on investment.
+Added: These include:
+Added: Owning, managing, and operating gaming and non-gaming facilities, as well as
+Added: expanding into new markets for iGaming and online sports betting.
+Added: Additionally, we leverage our management expertise and the strong recognition of our brands through strategic partnerships and international expansion opportunities.
+Added: We continue to enhance the efficiency of our operating model by optimizing our Centers of Excellence and achieving best-in-class operating performance through adjustments within corporate and business units.
+Added: In addition, we have and will continue to refine several improvement and cost cutting initiatives focused on labor, sourcing, and revenue generation.
+Added: These efforts strengthen our operating model and position us as a more resilient company.
+Added: We continue to focus on our key growth opportunities, including developing an integrated resort in Japan, investing in BetMGM North America Venture, advancing international digital opportunities, and exploring a full-scale commercial gaming opportunity in New York.
+Added: In Japan, Osaka IR KK signed an agreement with Osaka Prefecture and Osaka City in September 2023 to implement its government-certified Area Development Plan (“ADP”) for the development of an integrated resort in Osaka, Japan.
+Added: Preliminary construction began on the site of the future resort in 2024.
+Added: We believe that BetMGM North America Venture is well-positioned as a long-term leader in online sports betting and iGaming.
+Added: BetMGM North America Venture has launched Single App Single Wallet in Nevada allowing our customers who sign up while visiting one of our properties the ability to bring their digital wallet home, an important customer retention feature.
+Added: BetMGM North America Venture has also increased its parlay product capabilities with the addition of Angstrom technology which we expect to help drive further customer satisfaction as well as increased hold for BetMGM North America Venture.
+Added: We are growing our business internationally through MGM Digital by building on our core markets and identifying new opportunities for expansion and brand distribution, requiring limited capital.
+Added: We continue to evolve our technology platform, the backbone for our development.
+Added: In connection with our vision to transform Empire City in New York into a full-scale commercial gaming facility, we are actively working on our response to the request for application that was issued in January 2023 for three downstate commercial gaming licenses.
+Added: In the United Arab Emirates (“UAE”), we currently have a non-gaming management agreement with Wasl Hospitality to bring the Bellagio, Aria, and MGM Grand brands to Dubai.
With the UAE’s establishment of the General Commercial Gaming Regulatory Authority, tasked with creating a regulatory framework for commercial gaming in the UAE, we are encouraged by the potential opportunity for gaming expansion in Dubai.
−Removed: We believe technology, digital and advanced data science/analytics capabilities are critical to optimizing customer experience and loyalty, employee productivity and engagement, operational efficiency and revenue growth.
−Removed: We are focused on using these capabilities to achieve specific goals of creating ‘only at MGM’ differentiation through unique content and experiences, establishing a perennial engagement with our guests for increased loyalty, digital diversification through enhanced e-commerce and seamless integration of the physical integrated resorts business with digital casino and sports betting businesses, creating cross-property experiences and promotions in Las Vegas to provide much better value to the consumer, enhancing our data driven decisioning capabilities in all aspects of our business for faster decision making, and optimizing our operations and employee productivity and experience through digitization.
−Removed: Additionally, we have deployed a loyalty technology platform that allows customers to earn points through gaming and non-gaming activities, and increased mobile adoption with the digital check-in process.
−Removed: We have also enabled digital commerce technology capabilities to sell customized packages to customers.
+Added: We are continuously exploring new geographies for future development, including Thailand.
+Added: We believe technology, powered by our advanced data and analytics capabilities, enables us to deliver highly personalized digital experiences and targeted marketing that elevate the guest experience.
+Added: This approach drives operational efficiency and supports sustainable, long-term revenue growth.
+Added: Through our app and other digital platforms, we deliver tailored content and experiences that deepen guest engagement and build loyalty to our brand and offerings.
+Added: Additionally, with a focus on the development of our proprietary technology and product innovation, we believe this positions our digital operations for further expansion into new markets and to maintain our growth within existing markets.
+Added: We continue to expand our digital portfolio by enhancing e-commerce and seamlessly integrating our physical resorts with digital casino and sports betting experiences.
+Added: This includes cross-property and omni-channel promotions in Las Vegas that provide added value to our guests.
+Added: Additionally, we have deployed digital commerce and pricing technologies that allow us to offer personalized packages and targeted upsell opportunities.
+Added: Our MGM Rewards loyalty technology platform enables guests to earn points seamlessly across gaming and non-gaming activities, with improved redemption flows and a more streamlined experience through the app.
+Added: Enhanced mobile and self-service check-in options have further driven app adoption, creating a smoother arrival experience for our guests.
+Added: Our digital concierge has also improved service with faster response times during guest stays.
+Added: Additionally, our data capabilities empower data-driven decision-making, delivering faster insights and enabling more agile and informed decisions across all areas of our business.
Social Impact & Sustainability
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For over a decade, we have had a dedicated board committee focused on Corporate Social Responsibility and Sustainability (“CSR&S”).
−Removed: In 2019, we bolstered governance of these areas by uniting our key pillars of Diversity, Equity and Inclusion, Philanthropy and Community Engagement and Environmental Sustainability.
−Removed: These pillars were brought together under one Executive Committee-level leader who manages the MGM Resorts Social Impact and Sustainability Center of Excellence.
+Added: In 2019, we appointed one Executive Committee-level leader to manage the MGM Resorts Social Impact and Sustainability Center of Excellence.
Reporting directly to the Chief Executive Officer and President, this leader serves as liaison to the CSR&S Committee of the Board of Directors.
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Social Impact and Sustainability Reporting
−Removed: The Company’s Social Impact and Sustainability Task Force, which is composed of executives from across the Company, including representation from the Company’s Executive Committee, initiated an assessment that identified 15 priority topics, which have guided our social impact and sustainability reporting since 2020.
+Added: The Company’s Social Impact and Sustainability Task Force, which is composed of executives from across the Company, including representation from the Company’s Executive Committee, conducted our first assessment of priority Social Impact and Sustainability topics, which guided our social impact and sustainability reporting since 2020.
In 2023, we engaged external experts to assist with a more comprehensive assessment that focuses on both a topic’s impact on our Company, as well as our Company’s related impact on the world at large.
−Removed: We expect to publish findings from this new assessment in 2024.
+Added: We published a summary of our findings from this assessment in early 2024.
Throughout 2024, we continued our progress on key social impact and sustainability initiatives and disclosures, supporting our commitment to MGM Resorts’ Focused on What Matters platform and the UN Sustainable Development Goals.
Our most recent Social Impact & Sustainability Report illustrated the Company’s progress towards our public goals.
−Removed: In 2023, we released our second report aligned with the recommendations of the Task Force on Climate-related Financial Disclosures (“TCFD”) and our first Consolidated Sustainability Factbook.
−Removed: This centralized collection of our key social impact and sustainability metrics including our corporate social impact and sustainability goals, metrics aligns with Global Reporting Initiative (“GRI”) standards, and metrics aligned with the Sustainability Accounting Standards Board (“SASB”) Hotels & Lodging and Casinos & Gaming sector standards.
+Added: In 2024, we continued our reporting aligned with the recommendations of the Task Force on Climate-related Financial Disclosures and published our second Consolidated Social Impact & Sustainability Factbook.
+Added: The factbook, which reflects U.S.
+Added: and Macau operations data, is a centralized collection of our key social impact and sustainability metrics including our corporate social impact and sustainability goals, metrics aligned with Global Reporting Initiative standards, and metrics aligned with the Sustainability Accounting Standards Board Hotels & Lodging and Casinos & Gaming sector standards.
We expect to publish updated materials in 2025 detailing progress made in 2024.
−Removed: As our catalog of reports aligned to leading social impact and sustainability frameworks has grown, we have updated our website to present these disclosures and policies at mgmresorts.com/en/company/esg.html.
+Added: These reports, as well as other disclosures, assurance statements, and policies are available at mgmresorts.com/en/company/esg.html.
The content on this website is for informational purposes only and such content is not incorporated by reference into this Annual Report on Form 10-K.
9 unchanged sentences
Our combined Scope 1 & 2 target was validated as being in line with the 1.5 °C pathway, currently the organization’s most ambitious designation.
−Removed: Further, in its second full year of operation, the MGM Resorts Mega Solar Array (“Mega Array”) continued to play a key role in meeting the following climate goals:
+Added: We continue to make progress on our renewable energy strategy with our recently announced power purchase agreement to provide our Las Vegas properties with 115 megawatt (MW) of solar capacity and 100 MW of battery storage, in addition to the 100 MW MGM Resorts Mega Solar Array, which completed its third full year of operation.
+Added: These renewable energy sources play a key role in meeting the following climate goals across our domestic and MGM China operations:
• 50% reduction in Scope 1 & 2 GHG emissions intensity (pounds of carbon dioxide equivalent per square foot;
2 unchanged sentences
2019 baseline) by 2030 (SBTi validated);
−Removed: • 30% reduction in absolute Scope 3 GHG emissions from purchased goods and services, fuel-and energy-related activities, waste generated in operations, and employee commuting by 2030 (SBTi validated);
+Added: • 30% reduction in absolute Scope 3 GHG emissions (metric tons of carbon dioxide equivalent;
+Added: 2019 baseline) from purchased goods and services, fuel-and energy-related activities, waste generated in operations, and employee commuting by 2030 (SBTi validated);
• 100% renewable electricity purchased in U.S.
and 80% purchased globally by 2030.
−Removed: In addition to the Mega Array, we plan to bring additional renewable energy options to our domestic properties in the future.
+Added: We intend to continue to explore additional renewable energy opportunities to meet our renewable power and emissions goals.
Water Stewardship
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Our goal is to enhance long-term water efficiency by optimizing water systems and implementing conservation measures.
−Removed: In response to declining conditions in the Colorado River Basin, in 2022, we developed a water white paper that set the Company’s ambition for water stewardship including a strategic framework and a global water policy to codify our commitment.
+Added: In response to declining conditions in the Colorado River Basin, in 2022, we developed a water white paper that established our ambition for water stewardship including a strategic framework and a global water policy to codify our commitment.
Additionally, as a result of this white paper, MGM Resorts became the first gaming and Las Vegas-based company to endorse the CEO Water Mandate, a global coalition of major companies working to address global water challenges.
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In order to achieve this goal, we are focused on addressing water issues at the local level across our operations and supply chain, such as in Southern Nevada where consumptive water use reduction is a critical priority.
−Removed: In addition, we continued our water-related disclosures by participating in the 2023 CDP Water Security questionnaire and achieved a score of “A-”, meeting the criteria for the top level (Leadership).
+Added: We have engaged with stakeholders in each of our U.S.
+Added: regions to develop action plans and enhance our basin-level water stewardship.
+Added: In addition, we continued our water-related disclosures by participating in the 2024 CDP Water Security questionnaire.
+Added: Furthermore, on World Water Day in 2024 (March 22), we announced a grant to the Southern Nevada water authority, enabling local employees to receive additional incentives for at-home water conservation to help advance our commitment to water conservation and support the environment.
Responsible Gaming
−Removed: MGM Resorts has woven responsible gaming and gambling education into the fabric of our world-class gaming experiences and premier guest service.
−Removed: We offer a variety of resources throughout our properties, with the MGM Rewards Desk acting as the central hub for our innovative responsible gaming program, GameSense.
+Added: We have woven responsible gaming and gambling education into the fabric of our world-class gaming experiences and premier guest service.
+Added: We train our employees to reinforce our commitment and approach to responsible gaming.
+Added: We also offer a variety of resources throughout our properties, with the MGM Rewards Desk acting as the central hub for our innovative responsible gaming program, GameSense.
GameSense is an industry-leading, enterprise-wide program that aligns responsible gambling policies with enhanced guest service and education.
−Removed: It is designed to promote positive play experiences and help guests and employees make informed gaming decisions.
−Removed: All MGM Resorts employees receive training to reinforce the Company’s commitment and approach to responsible gaming.
+Added: It is designed to promote sustainable and enjoyable experiences, by helping guests and employees make informed gambling decisions.
+Added: At MGM China, we established a Responsible Gaming Committee and a Responsible Gaming Operations Team that act as lines of defense in identifying and addressing problem gaming-related issues.
+Added: Digitally, we have implemented a number of functions and tools to protect customers and work proactively to provide support for individuals who develop unsound gaming behavior.
+Added: Our website, LeoSafePlay.com, is dedicated to promoting responsible gaming.
+Added: We have also invested heavily in technology and in the development of algorithms that detect early signs among players that can indicate a risk for unsound gaming.
+Added: Within the framework of LeoSafePlay, we have launched a tool based on machine learning and algorithms that help in the creation of risk profiles for customers who are at risk of developing a gaming problem.
Human Capital
We are focused on fostering a people-driven culture exemplified by how we lead and uphold the following core company values:
−Removed: Captivate Our Audience, Inspire Excellence, Champion Inclusion, and Win Together, to create an engaged and diverse workforce.
+Added: Captivate Our Audience, Inspire Excellence, Champion Inclusion, and Win Together, to create an engaged workforce.
Our long-term people strategy is designed to enhance talent attraction and development to support business objectives, guest experience, community engagement, and financial goals.
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In response to labor demands and agile staffing requirements, we have significantly streamlined our recruitment processes for faster sourcing and recruitment to meet business and operational needs.
+Added: We work across the enterprise to strengthen our corporate culture, drive employee engagement, and foster well-being.
Growth and Development
We invest significant resources to develop the talent needed, now and for the future, to be a premier employer of choice across the gaming, hospitality, and entertainment industries.
−Removed: We are committed to a culture of continuous learning where employees, at all levels, are engaged in developing their knowledge, skills, and abilities and we support the long-term career aspirations of our employees through education and professional/personal development.
+Added: We are committed to a culture of continuous learning
+Added: where employees, at all levels, are engaged in developing their knowledge, skills, and abilities through a variety of modalities, including digitally, and we support the long-term career aspirations of our employees through education and professional/personal development and skills-based learning.
We continue to introduce new learning and development initiatives focused on a broad range of employee population segments.
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Over the past year we have focused on growing our talent pipeline, reinforcing our leadership expectations and company culture across all leadership positions and enhancing employee recognition and onboarding programs applicable across all levels.
−Removed: Diversity, Equity, and Inclusion (“DE&I”)
−Removed: Our approach to DE&I is anchored by our corporate and people strategies and a social impact and sustainability approach that centers on embracing humanity.
+Added: Focused on Our Communities
+Added: Our corporate and people strategies and a social impact and sustainability approach that centers on embracing humanity.
A comprehensive framework lays out five strategic pillars to guide our work:
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build an inclusive culture;
−Removed: grow business and customer engagement and supplier diversity;
−Removed: and enhance marketplace leadership and community relations.
−Removed: As part of our DE&I strategy, we have committed to the following four long-range 2025 goals:
−Removed: (1) ensure that all employees have equal access to leadership opportunities, (2) spend at least 15% of our biddable procurement with diverse suppliers, (3) expand our Supplier Diversity Mentorship Program to achieve 150 graduates, and (4) train 100% of management employees on social impact and sustainability policies and goals.
−Removed: In connection with each goal, we have established robust key performance indicators, which are tracked and published in our annual Social Impact and Sustainability Report and reviewed internally with management and our CSR & Sustainability Committee of the Board of Directors.
−Removed: In addition, we have detailed internal Human Capital workforce reports, which include demographic and diversity data, and are reviewed with the Human Capital and Compensation Committee of the Board, executive management, and leadership teams on a regular basis.
−Removed: Internally, we use multiple channels to facilitate communication and to continuously advance one of our core values, Champion Inclusion.
−Removed: The channels include but are not limited to open forums and conversations with executives, employee engagement surveys with detailed action planning, and employee and business network groups.
−Removed: Work in the areas of diversity, equity, and inclusion is advanced through a range of programs and initiatives which include employee education and training, community partnerships, recruitment and talent development, advocacy,
−Removed: engagement and outreach and through internal groups like our Supplier Diversity, Global Sales, Human Resources, and Social Impact and Sustainability task forces.
−Removed: Responsibility is driven and led by our Chief People, Inclusion and Sustainability Officer, who reports directly to the Chief Executive Officer and President, and is supported by a centralized Diversity, Equity and Inclusion team and the Human Resources department.
+Added: grow business and customer engagement;
+Added: and enhance marketplace leadership and community relations, including through our supplier relationships.
+Added: As part of this strategy, we have committed to the following four long-range 2025 goals:
+Added: (1) ensure that our employees have equal access to leadership opportunities, (2) advance positive impacts within purchases of goods and services by building capacity among local suppliers, (3) expand our Supplier Mentorship Program to achieve 150 graduates, and (4) train 100% of U.S.
+Added: management employees on social impact and sustainability policies and goals.
+Added: Internally, we use multiple channels to facilitate communication and to continuously advance the core value to Champion Inclusion by cultivating a culture of respect.
+Added: The channels include but are not limited to open forums and conversations with executives, employee engagement surveys with detailed action planning, and employee and business network groups, which are open to all employees.
+Added: Responsibility is driven and led by our Chief People, Inclusion and Sustainability Officer, who reports directly to the Chief Executive Officer and President.
Health, Safety, and Wellness
−Removed: Our approach to employee health and wellness is holistic and multi-dimensional, focusing on the four pillars of the World of Wellbeing (WOW):
+Added: Our approach to employee health and wellness is holistic and multi-dimensional, focusing on the four pillars of the MGM Resorts World of Wellbeing (WOW):
physical, emotional, financial and community.
−Removed: It is our priority to provide equitable benefit offerings that support the needs of a diverse workforce.
−Removed: We continue to expand access to health and wellness resources such as the recent addition of an online caregiving platform that connects employees with resources that can support and provide care for their loved ones.
+Added: It is our priority to provide competitive benefit offerings that support the needs of our workforce.
+Added: In an effort to better support the emotional well-being of our employees, we recently implemented a new Employee Assistance Program (EAP) provider who offers an enhanced mental health benefit to our employees and their loved ones.
Community Engagement and Philanthropy
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We understand our responsibility to contribute to the social and economic progress of the communities in which we operate and are invested in growing and supporting such communities.
−Removed: Our strategies aim to reflect, sustain, and build on the best aspects of a community by creating good jobs, providing strong wages, teaching resilient skills, and implementing workforce development opportunities for diverse groups of people.
+Added: Our strategies aim to reflect, sustain, and build on the best aspects of a community by creating good jobs, providing strong wages, teaching resilient skills, and implementing workforce development opportunities.
We encourage active engagement in volunteerism and philanthropic opportunities, from serving local community needs to supporting global commitments.
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(1) the Employee Emergency Grant, which benefits our employees, and (2) the Community Grant, which benefits local communities.
−Removed: In an effort to foster employee engagement in our philanthropic efforts, MGM Resorts established a Matching Gifts program in 2021, matching one-time employee donations to the Community Grant Fund.
+Added: In an effort to foster employee engagement in our philanthropic efforts, we established a Matching Gifts program in 2021, matching employee donations to their charities of choice.
Employees and Labor Relations
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We had collective bargaining agreements with unions covering approximately 38,000 of our employees as of December 31, 2024.
−Removed: Collective bargaining agreements covering multiple bargaining units at our Regional Operations and Las Vegas Strip Resorts are scheduled to expire in 2024.
−Removed: This includes agreements with the Local Joint Executive Board of Las Vegas for The Signature and Vdara, which are scheduled to expire May 31, 2024.
−Removed: Also expiring in 2024 are collective bargaining agreements with the International Brotherhood of Teamsters covering three Las Vegas properties and one bargaining unit at Empire City, with the International Union of Operating Engineers covering our Las Vegas strip properties and the T-Mobile Arena, as well as at MGM Springfield and the Mass Mutual Center, and the collective bargaining agreement with UNITE HERE at MGM National Harbor.
−Removed: A number of collective bargaining agreements for smaller bargaining units in both Las Vegas and regional resorts are also expiring in 2024.
+Added: The collective bargaining agreement between The Cosmopolitan of Las Vegas and the Local Joint Executive Board of Las Vegas covering approximately 3,000 employees is scheduled to expire on May 31, 2025.
+Added: Additionally, we expect certain collective bargaining agreements to expire in 2025, including our collective bargaining agreement with the International Brotherhood of Teamsters covering valet operations at nine of our Las Vegas Strip Resorts.
Negotiations for successor contracts will be scheduled with our employees’ collective bargaining representatives as contract expiration dates approach and will continue throughout 2025.
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While our business as a whole is not substantially dependent on any one patent, trademark, or copyright, we seek to establish and maintain our proprietary rights in our business operations and technology through the use of patents, trademarks, copyrights, and trade secret laws.
−Removed: We believe that our principal intellectual property consists of trademarks for, among others, Aria, Vdara, Bellagio, The Cosmopolitan, Borgata, Mandalay Bay, MGM, MGM Grand, MGM Resorts International, Luxor, Excalibur, New York-New York, Park MGM, Beau Rivage, Empire City, and LeoVegas, all of which have been registered or allowed in various classes in the United States and foreign jurisdictions around the world, as applicable.
+Added: We believe that our principal intellectual property consists of trademarks for, among others, Aria, Vdara, Bellagio, The Cosmopolitan, Borgata, Mandalay Bay, MGM, MGM Grand, MGM Resorts International, Luxor, Excalibur, New York-New York, Park MGM, Beau Rivage, Empire City, LeoVegas, and BetMGM, all of which have been registered or allowed in various classes in the United States and foreign jurisdictions around the world, as applicable.
In addition, we have also registered or applied to register numerous other trademarks, such as The Mirage, in connection with our properties, facilities and development projects in the United States and in various other foreign jurisdictions.
These trademarks are brand names under which we market our properties and services.
−Removed: We consider these brand names to be important to our
−Removed: business since they have the effect of developing brand identification.
+Added: We consider these brand names to be important to our business since they have the effect of developing brand identification.
We believe that the name recognition, reputation and image that we have developed for our brands attract customers to our facilities.
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Under various federal, state and local laws and regulations, an owner or operator of real property may be held liable for the costs of removal or remediation of certain hazardous or toxic substances or wastes located on its property, regardless of whether or not the present owner or operator knows of, or is responsible for, the presence of such substances or wastes.
−Removed: We have not identified any issues associated with our properties that could reasonably be expected to have an adverse effect on us or the results of our operations.
+Added: We have not identified any issues associated with our properties that could reasonably be expected to have a material adverse effect on us or the results of our operations.
For a discussion of potential risks to our business relating to regulatory matters, including due to the potential impact of legislative and regulatory changes, please see “Item 1A.
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our ability to execute on ongoing and future strategic initiatives, including the development of an integrated resort in Japan, a commercial gaming facility in New York, expectations regarding the potential opportunity for gaming expansion in Dubai, and investments we make in online sports betting and iGaming, the expansion of LeoVegas and the MGM digital brand;
−Removed: positioning BetMGM as a leader in sports betting and iGaming;
+Added: positioning BetMGM North America Venture as a leader in sports betting and iGaming;
amounts we will spend on capital expenditures and investments;
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our ability to achieve our public social impact and sustainability goals;
−Removed: the impact to our business, operations and reputation from, and expenses and uncertainties associated with, the Cybersecurity Issue;
−Removed: the timing and outcome of the claims and class actions against the Company and of the investigations by state and federal regulators, related to the Company’s September 2023 cybersecurity issue, and the availability of cybersecurity insurance proceeds and the nature and scope of any claims, litigation or regulatory proceedings that may be brought against us.
+Added: the impact to our business, operations and reputation from, and expenses and uncertainties associated with, the September 2023 cybersecurity issue;
+Added: the timing and outcome of the claims and class actions against us and of the investigations by state and federal regulators, related to the September 2023 cybersecurity issue, and the availability of cybersecurity insurance proceeds and the nature and scope of any claims, litigation or regulatory proceedings that may be brought against us.
The foregoing is not a complete list of all forward-looking statements we make.
Forward-looking statements are based on our current expectations and assumptions regarding our business, the economy and other future conditions.
−Removed: Because forward-looking statements relate to the future, they are subject to inherent
−Removed: uncertainties, risks, and changes in circumstances that are difficult to predict.
+Added: Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict.
Our actual results may differ materially from those contemplated by the forward-looking statements.
2 unchanged sentences
Important factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, regional, national or global political, economic, business, competitive, market, and regulatory conditions and the following:
−Removed: • our substantial indebtedness and significant financial commitments, including our rent payments under our triple-net leases and guarantees we provide of the indebtedness of the landlords of Bellagio, Mandalay Bay, and MGM Grand Las Vegas could adversely affect our development options and financial results and impact our ability to satisfy our obligations;
−Removed: • current and future economic, capital and credit market conditions could adversely affect our ability to service our substantial indebtedness and significant financial commitments, including the fixed components of our rent payments, and to make planned expenditures;
+Added: • our substantial indebtedness and significant financial commitments, including our rent payments and guarantees we provide of the indebtedness of the landlords of Bellagio, Mandalay Bay, and MGM Grand Las Vegas could adversely affect our operations, development options, and financial results and impact our ability to satisfy our obligations;
+Added: • current and future economic, capital and credit market conditions could adversely affect our ability to service our substantial indebtedness and significant financial commitments, including our rent payments, and to make planned expenditures;
• restrictions and limitations in the agreements governing our senior credit facility and other senior indebtedness could significantly affect our ability to operate our business, as well as significantly affect our liquidity;
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• the occurrence of impairments to goodwill, indefinite-lived intangible assets or long-lived assets which could negatively affect future profits;
−Removed: • the susceptibility of leisure and business travel, especially travel by air, to global geopolitical events, such as terrorist attacks, other acts of violence, acts of war or hostility or outbreaks of infectious disease (including the COVID-19 pandemic);
−Removed: • the fact that co-investing in properties or businesses, including our investment in BetMGM, decreases our ability to manage risk;
−Removed: • the fact that future construction, development, or expansion projects will be subject to significant development and construction risks;
+Added: • the susceptibility of leisure and business travel, especially travel by air, to global geopolitical events, such as terrorist attacks, other acts of violence, acts of war or hostility or outbreaks of infectious disease;
+Added: • the fact that co-investing in properties or businesses, including our investment in BetMGM North America Venture, decreases our ability to manage risk;
+Added: • the fact that future construction, development, or expansion projects will be subject to significant development and construction risks, which could have a material adverse impact on related project timetables, costs, and our ability to complete the projects;
• the fact that our insurance coverage may not be adequate to cover all possible losses that our properties could suffer, our insurance costs may increase and we may not be able to obtain similar insurance coverage in the future;
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• the failure of future efforts to expand through investments in other businesses and properties or through alliances or acquisitions, or to divest some of our properties and other assets;
+Added: • the fact that our operational efforts to expand our digital business in new geographic markets may not be successful;
• the failure to maintain the integrity of our information and other systems and internal customer information could result in damage to our reputation and/or subject us to fines, payment of damages, lawsuits or other restrictions on our use or transfer of data;
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• disruptions in the availability of our information and other systems (including our website and digital platform) or those of third parties on which we rely, through cyber-attacks or otherwise, which could adversely impact our ability to service our customers and affect our sales and the results of operations;
−Removed: • impact to our business, operations, and reputation from, and expenses and uncertainties associated with, a cybersecurity incident, including the Cybersecurity Issue that occurred in September 2023, and any related legal proceedings, other claims or investigations, and costs of remediation, restoration, or enhancement of information technology systems;
+Added: • impact to our business, operations, and reputation from, and expenses and uncertainties associated with, a cybersecurity incident, including the September 2023 cybersecurity issue, and any related legal proceedings, other claims or investigations, and costs of remediation, restoration, or enhancement of information technology systems;
• the availability of cybersecurity insurance proceeds;
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Sanders has served as Chief Operating Officer since December 2020.
−Removed: Previously, he served as Chief Financial Officer and Treasurer from March 2019 to January 2021, as Chief Operating Officer from September 2010 through February 2019, as Chief Operating Officer for the Company’s Core Brand and Regional Properties from August 2009 to
−Removed: September 2010, as Executive Vice President—Operations from August 2007 to August 2009, and as Executive Vice President and Chief Financial Officer for MGM Grand Resorts from April 2005 to August 2007.
+Added: Previously, he served as Chief Financial Officer and Treasurer from March 2019 to January 2021, as Chief Operating Officer from September 2010 through February 2019, as Chief Operating Officer for the Company’s Core Brand and Regional Properties from August 2009 to September 2010, as Executive Vice President—Operations from August 2007 to August 2009, and as Executive Vice President and Chief Financial Officer for MGM Grand Resorts from April 2005 to August 2007.
Halkyard has served as Chief Financial Officer and Treasurer since January 2021.
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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.