MGM Resorts International (MGM) 10-Q 1 May 23 2023 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2023	Apr. 27, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2023
Document Transition Report	false
Entity File Number	001-10362
Entity Registrant Name	MGM Resorts International
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	88-0215232
Entity Address, Address Line One	3600 Las Vegas Boulevard South
Entity Address, City or Town	Las Vegas
Entity Address, State or Province	NV
Entity Address, Postal Zip Code	89109
City Area Code	702
Local Phone Number	693-7120
Title of 12(b) Security	Common stock (Par Value $0.01)
Trading Symbol	MGM
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		363,799,070
Amendment Flag	false
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2023
Entity Central Index Key	0000789570
Current Fiscal Year End Date	--12-31

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Current assets
Cash and cash equivalents	$ 4,505,318	$ 5,911,893
Accounts receivable, net	752,965	852,149
Inventories	128,732	126,065
Income tax receivable	2,061	73,016
Prepaid expenses and other	842,028	583,132
Assets held for sale	0	608,437
Total current assets	6,231,104	8,154,692
Property and equipment, net	5,140,662	5,223,928
Other assets
Investments in and advances to unconsolidated affiliates	153,856	173,039
Goodwill	5,024,905	5,029,312
Other intangible assets, net	1,756,151	1,551,252
Operating lease right-of-use assets, net	24,403,384	24,530,929
Other long-term assets, net	832,167	1,029,054
Total other assets	32,170,463	32,313,586
Total assets	43,542,229	45,692,206
Current liabilities
Accounts and construction payable	347,344	369,817
Income tax payable	65,992	0
Current portion of long-term debt	36,492	1,286,473
Accrued interest on long-term debt	114,382	83,451
Other accrued liabilities	2,280,217	2,236,323
Liabilities related to assets held for sale	0	539,828
Total current liabilities	2,844,427	4,515,892
Deferred income taxes, net	3,008,742	2,969,443
Long-term debt, net	6,841,483	7,432,817
Operating lease liabilities	25,145,321	25,149,299
Other long-term obligations	470,495	256,282
Commitments and contingencies (Note 9)
Redeemable noncontrolling interests	9,658	158,350
Stockholders’ equity
Common stock, $0.01 par value: authorized 1,000,000,000 shares, issued and outstanding 367,241,030 and 379,087,524 shares	3,672	3,791
Capital in excess of par value	0	0
Retained earnings	4,799,178	4,794,239
Accumulated other comprehensive income	36,808	33,499
Total MGM Resorts International stockholders’ equity	4,839,658	4,831,529
Noncontrolling interests	382,445	378,594
Total stockholders’ equity	5,222,103	5,210,123
Total liabilities and stockholders' equity	$ 43,542,229	$ 45,692,206

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	1,000,000,000	1,000,000,000
Common stock, shares issued (in shares)	367,241,030	379,087,524
Common stock, shares outstanding (in shares)	367,241,030	379,087,524

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenues
Total revenue	$ 3,873,296	$ 2,854,309
Expenses
General and administrative	1,135,540	776,837
Corporate expense	127,559	111,241
Preopening and start-up expenses	139	434
Property transactions, net	(396,076)	54,738
Depreciation and amortization	203,501	288,638
Total expenses	3,067,458	2,701,683
Loss from unconsolidated affiliates	(74,999)	(46,838)
Operating income	730,839	105,788
Non-operating income (expense)
Interest expense, net of amounts capitalized	(130,300)	(196,091)
Non-operating items from unconsolidated affiliates	(1,184)	(15,133)
Other, net	46,307	34,302
Non-operating income (expense)	(85,177)	(176,922)
Income (loss) before income taxes	645,662	(71,134)
Benefit (provision) for income taxes	(165,779)	36,341
Net income (loss)	479,883	(34,793)
Less: Net (income) loss attributable to noncontrolling interests	(13,076)	16,777
Net income (loss) attributable to MGM Resorts International	$ 466,807	$ (18,016)
Earnings (loss) per share
Basic (in dollars per share)	$ 1.25	$ (0.06)
Diluted (in dollars per share)	$ 1.24	$ (0.06)
Weighted average common shares outstanding
Basic (in shares)	374,085	442,916
Diluted (in shares)	378,095	442,916
Casino
Revenues
Total revenue	$ 1,882,428	$ 1,420,910
Expenses
Cost of revenues	990,890	674,365
Rooms
Revenues
Total revenue	848,488	557,073
Expenses
Cost of revenues	240,114	196,113
Food and beverage
Revenues
Total revenue	722,131	492,854
Expenses
Cost of revenues	511,592	368,662
Entertainment, retail and other
Revenues
Total revenue	409,578	371,566
Expenses
Cost of revenues	243,528	218,749
Reimbursed costs
Revenues
Total revenue	10,671	11,906
Expenses
Cost of revenues	$ 10,671	$ 11,906

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 479,883	$ (34,793)
Other comprehensive income, net of tax:
Foreign currency translation	(49)	(17,966)
Cash flow hedges	0	36,031
Other	871	0
Other comprehensive income	822	18,065
Comprehensive income (loss)	480,705	(16,728)
Less: Comprehensive (income) loss attributable to noncontrolling interests	(10,589)	1,321
Comprehensive income (loss) attributable to MGM Resorts International	$ 470,116	$ (15,407)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Cash flows from operating activities
Net income (loss)	$ 479,883	$ (34,793)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	203,501	288,638
Amortization of debt discounts, premiums and issuance costs	7,130	10,285
Provision for credit losses	16,133	253
Stock-based compensation	23,891	23,344
Property transactions, net	(396,076)	54,738
Noncash lease expense	132,223	60,118
Other investment gains	(6,152)	(14,983)
Loss from unconsolidated affiliates	76,183	61,971
Distributions from unconsolidated affiliates	1,315	25,444
Deferred income taxes	38,098	1,070
Change in operating assets and liabilities:
Accounts receivable	75,690	(10,385)
Inventories	(2,690)	(5,780)
Income taxes receivable and payable, net	134,564	39,204
Prepaid expenses and other	(23,671)	(13,768)
Accounts payable and accrued liabilities	(78,810)	(60,563)
Other	22,841	(4,311)
Net cash provided by operating activities	704,053	420,482
Cash flows from investing activities
Capital expenditures	(139,820)	(101,583)
Dispositions of property and equipment	5,185	2,917
Investments in unconsolidated affiliates	(35,730)	(129,177)
Proceeds from sale of operating resorts	452,824	0
Proceeds from repayment of principal on note receivable	152,518	0
Distributions from unconsolidated affiliates	549	475
Investments and other	(223,348)	(10,015)
Net cash provided by (used in) investing activities	212,178	(237,383)
Cash flows from financing activities
Net repayments under bank credit facilities - maturities of 90 days or less	(586,456)	(18,134)
Repayment of long-term debt	(1,250,000)	(1,000,000)
Debt issuance costs	0	(1,367)
Dividends paid to common shareholders	0	(1,090)
Distributions to noncontrolling interest owners	(17,936)	(118,039)
Repurchases of common stock	(484,399)	(1,001,972)
Other	(41,342)	(24,985)
Net cash used in financing activities	(2,380,133)	(2,165,587)
Effect of exchange rate on cash, cash equivalents, and restricted cash	(6,480)	(1,355)
Change in cash and cash equivalents classified as assets held for sale	25,938	0
Cash, cash equivalents, and restricted cash
Net change for the period	(1,444,444)	(1,983,843)
Balance, beginning of period	6,036,388	5,203,059
Balance, end of period	4,591,944	3,219,216
Supplemental cash flow disclosures
Interest paid, net of amounts capitalized	92,239	183,513
Federal, state and foreign income taxes paid (refunds received), net	372	(67,294)
Gaming Subconcession | M G M Grand Paradise
Non-cash investing and financing activities
Noncash or Part Noncash Acquisition, Intangible Assets Acquired	226,083	0
Noncash or Part Noncash Acquisition, Payment Obligation	$ 226,083	$ 0

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	MGM Growth Properties LLC Class A Shareholders	Common Stock	Capital in Excess of Par Value	Retained Earnings	Accumulated Other Comprehensive Income	Total MGM Resorts International Stockholders’ Equity	Noncontrolling Interests	Noncontrolling Interests MGM Growth Properties LLC Class A Shareholders
Beginning balance (in shares) at Dec. 31, 2021			453,804,000
Beginning balance at Dec. 31, 2021	$ 10,976,766		$ 4,538	$ 1,750,135	$ 4,340,588	$ (24,616)	$ 6,070,645	$ 4,906,121
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(37,062)				(18,016)		(18,016)	(19,046)
Currency translation adjustment	(17,966)					(10,184)	(10,184)	(7,782)
Cash flow hedges	36,031					12,793	12,793	23,238
Stock-based compensation	23,344			22,381			22,381	963
Issuance of common stock pursuant to stock-based compensation awards (in shares)			104,000
Issuance of common stock pursuant to stock-based compensation awards	(2,311)		$ 1	(2,312)			(2,311)
Cash distributions to noncontrolling interest owners	(5,761)	$ (83,080)						(5,761)	$ (83,080)
Dividends declared and paid to common shareholders ($0.0025 per share)	(1,090)				(1,090)		(1,090)
Issuance of restricted stock units	2,127			1,941			1,941	186
Repurchases of common stock (in shares)			(23,346,000)
Repurchases of common stock	(1,001,972)		$ (233)	(1,001,739)			(1,001,972)
Adjustment of redeemable noncontrolling interest to redemption value	(8,986)			(8,986)			(8,986)
Other	(416)			139			139	(555)
Ending balance (in shares) at Mar. 31, 2022			430,562,000
Ending balance at Mar. 31, 2022	$ 9,879,624		$ 4,306	761,559	4,321,482	(22,007)	5,065,340	4,814,284
Beginning balance (in shares) at Dec. 31, 2022	379,087,524		379,088,000
Beginning balance at Dec. 31, 2022	$ 5,210,123		$ 3,791	0	4,794,239	33,499	4,831,529	378,594
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	479,716				466,807		466,807	12,909
Currency translation adjustment	(49)					2,438	2,438	(2,487)
Cash flow hedges	0
Stock-based compensation	23,891			23,228			23,228	663
Issuance of common stock pursuant to stock-based compensation awards (in shares)			73,000
Issuance of common stock pursuant to stock-based compensation awards	(1,341)		$ 1	(1,342)			(1,341)
Cash distributions to noncontrolling interest owners	(6,641)							(6,641)
Issuance of restricted stock units	1,701			1,701			1,701
Repurchases of common stock (in shares)			(11,920,000)
Repurchases of common stock	(486,869)		$ (120)	(24,881)	(461,868)		(486,869)
Adjustment of redeemable noncontrolling interest to redemption value	1,297			1,297			1,297
Other	$ 275			(3)		871	868	(593)
Ending balance (in shares) at Mar. 31, 2023	367,241,030		367,241,000
Ending balance at Mar. 31, 2023	$ 5,222,103		$ 3,672	$ 0	$ 4,799,178	$ 36,808	$ 4,839,658	$ 382,445

CONSOLIDATED STATEMENTS OF ST_2

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical)	3 Months Ended
	Mar. 31, 2022 $ / shares
Statement of Stockholders' Equity [Abstract]
Dividends declared and paid to common shareholders (in dollars per share)	$ 0.0025

ORGANIZATION

ORGANIZATION	3 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION	ORGANIZATION Organization. MGM Resorts International, a Delaware corporation (together with its consolidated subsidiaries, unless otherwise indicated or unless the context requires otherwise, the “Company”) is a global gaming and entertainment company with domestic and international locations featuring hotels and casinos, convention, dining, and retail offerings, and sports betting and online gaming operations. As of March 31, 2023, the Company’s domestic casino resorts include the following integrated casino, hotel and entertainment resorts in Las Vegas, Nevada: Aria (including Vdara), Bellagio, The Cosmopolitan of Las Vegas ( “ The Cosmopolitan”), MGM Grand Las Vegas (including The Signature), Mandalay Bay, Luxor, New York-New York, Park MGM, and Excalibur. The Company also operates MGM Grand Detroit in Detroit, Michigan, MGM National Harbor in Prince George’s County, Maryland, MGM Springfield in Springfield, Massachusetts, Borgata in Atlantic City, New Jersey, Empire City in Yonkers, New York, MGM Northfield Park in Northfield Park, Ohio, and Beau Rivage in Biloxi, Mississippi. Additionally, the Company operates The Park, a dining and entertainment district located between New York-New York and Park MGM. The Company leases the real estate assets of its domestic properties pursuant to triple-net lease agreements, as further discussed in Note 8. The Company has an approximate 56% controlling interest in MGM China Holdings Limited (together with its subsidiaries, “MGM China”), which owns MGM Grand Paradise, S.A. (“MGM Grand Paradise”). MGM Grand Paradise owns and operates MGM Macau and MGM Cotai, two integrated casino, hotel and entertainment resorts in Macau, as well as the related gaming concession and land concessions. The Company also owns LeoVegas AB (“LeoVegas”), a consolidated subsidiary that has global online gaming operations headquartered in Sweden and Malta. Additionally, the Company and its venture partner, Entain plc, each have a 50% ownership interest in BetMGM, LLC (“BetMGM”), an unconsolidated affiliate, which provides online sports betting and gaming in certain jurisdictions in North America. Japan. In April 2023, the Japanese government officially certified the Area Development Plan previously submitted by the city/prefecture of Osaka and the Company’s 50% owned unconsolidated venture. Gold Strike Tunica transaction. On February 15, 2023, the Company completed the sale of the operations of Gold Strike Tunica to CNE Gaming Holdings, LLC (“CNE”), a subsidiary of Cherokee Nation Business. Refer to Note 3 for additional information on this disposition. MGM Grand Paradise gaming concession. Gaming in Macau is currently administered by the Macau Government through concessions awarded to six different concessionaires. On December 16, 2022, MGM Grand Paradise was awarded a ten-year concession contract to permit the operation of games of chance or other games in casinos in Macau, which commenced on January 1, 2023. Refer to Note 5 for further discussion of the gaming concession. Reportable segments. The Company has three reportable segments: Las Vegas Strip Resorts, Regional Operations and MGM China. See Note 12 for additional information about the Company’s segments. Impact of COVID-19 - Update. On January 8, 2023, Macau lifted the majority of its COVID-19 pandemic travel and quarantine restrictions with the exception of overseas visitors travelling from outside of mainland China, Hong Kong and Taiwan being required to present a negative nucleic acid test or rapid antigen test result, and on February 6, 2023 all remaining COVID-19 travel restrictions were removed. As of March 31, 2023, all of the Company’s properties were open and not subject to any COVID-19 related operating restrictions.

BASIS OF PRESENTATION AND SIGNI

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES Basis of presentation . As permitted by the rules and regulations of the Securities and Exchange Commission (“SEC”), certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) have been condensed or omitted. These consolidated financial statements should be read in conjunction with the Company’s 2022 annual consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022. In the opinion of management, the accompanying unaudited consolidated financial statements contain all adjustments, which include only normal recurring adjustments, necessary to present fairly the Company’s interim financial statements. The results for such periods are not necessarily indicative of the results to be expected for the full year. Principles of consolidation . The Company evaluates entities for which control is achieved through means other than voting rights to determine if it is the primary beneficiary of a variable interest entity (“VIE”). The Company consolidates its investment in a VIE when it determines that it is its primary beneficiary. The Company may change its original assessment of a VIE upon subsequent events such as the modification of contractual arrangements that affect the characteristics or adequacy of the entity’s equity investments at risk and the disposition of all or a portion of an interest held by the primary beneficiary. The Company performs this analysis on an ongoing basis. The venture (the “Bellagio BREIT Venture”) that is 5% owned by a subsidiary of the Company and 95% owned by a subsidiary of BREIT is a VIE because the equity holders as a group lack the power through voting or similar rights to direct the activities of such entity that most significantly impact such entity’s economic performance. The Company is not the primary beneficiary of Bellagio BREIT Venture because the Company does not have power to direct the activities that could potentially be significant to the venture as BREIT, as the managing member, has such power; accordingly, the Company does not consolidate the venture. The Company’s maximum exposure to loss in Bellagio BREIT Venture is equal to the carrying value of its investment of $56 million as of March 31, 2023, assuming no future capital funding requirements, plus the exposure to loss resulting from the Company’s guarantee of the debt of Bellagio BREIT Venture, which guarantee is immaterial as of March 31, 2023, as further discussed in Note 9. For entities determined not to be a VIE, the Company consolidates such entities in which the Company owns 100% of the equity. For entities in which the Company owns less than 100% of the equity interest, the Company consolidates the entity under the voting interest model if it has a controlling financial interest based upon the terms of the respective entities’ ownership agreements, such as MGM China. For these entities, the Company records a noncontrolling interest in the consolidated balance sheets and all intercompany balances and transactions are eliminated in consolidation. If the entity does not qualify for consolidation under the voting interest model and the Company has significant influence over the operating and financial decisions of the entity, the Company generally accounts for the entity under the equity method, such as BetMGM, which does not qualify for consolidation as the Company has joint control, given the entity is structured with substantive participating rights whereby both owners participate in the decision making process, which prevents the Company from exerting a controlling financial interest in such entity, as defined in Accounting Standards Codification (“ASC”) 810. For entities over which the Company does not have significant influence, the Company accounts for its equity investment under ASC 321. Fair value measurements . Fair value measurements affect the Company’s accounting and impairment assessments of its long-lived assets, investments in unconsolidated affiliates or equity interests, assets acquired, and liabilities assumed in an acquisition, and goodwill and other intangible assets. Fair value measurements also affect the Company’s accounting for certain of its financial assets and liabilities. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date and is measured according to a hierarchy that includes: Level 1 inputs, such as quoted prices in an active market; Level 2 inputs, which are quoted prices for identical or comparable instruments or pricing using observable market data; or Level 3 inputs, which are unobservable inputs. The Company used the following inputs in its fair value measurements: • Level 1 inputs when measuring its equity investments recorded at fair value; • Level 2 inputs for its long-term debt fair value disclosures; See Note 6; and • Level 1 and Level 2 inputs for its debt investments. Equity investments. Fair value is measured based upon trading prices on the applicable securities exchange for equity investments for which the Company has elected the fair value option of ASC 825 and equity investments accounted for under ASC 321 that have a readily determinable fair value. The fair value of these investments was $460 million and $461 million as of March 31, 2023 and December 31, 2022, respectively, and is reflected within “Other long-term assets, net” on the consolidated balance sheets. Gains and losses are recorded in “Other, net” in the statements of operations. For the three months ended March 31, 2023, the Company recorded a net loss on its equity investments of less than $1 million. For the three months ended March 31, 2022, the Company recorded a net gain on its equity investments of $15 million. Debt investments. The Company’s investments in debt securities are classified as trading securities and recorded at fair value. Gains and losses are recorded in “Other, net” in the statements of operations. Debt securities are considered cash equivalents if the criteria for such classification is met or otherwise classified as short-term investments within “Prepaid expenses and other” since the investment of cash is available for current operations. The following tables present information regarding the Company’s debt investments: Fair value level March 31, 2023 December 31, 2022 (In thousands) Cash and cash equivalents: Money market funds Level 1 $ 591 $ 12,009 Commercial paper and certificates of deposit Level 2 — 5,992 Cash and cash equivalents 591 18,001 Short-term investments: U.S. government securities Level 1 62,039 56,835 U.S. agency securities Level 2 28,928 9,530 Commercial paper and certificates of deposit Level 2 11,064 4,466 Corporate bonds Level 2 406,848 213,875 Short-term investments 508,879 284,706 Total debt investments $ 509,470 $ 302,707 Restricted cash. MGM China’s pledged cash of $87 million and $124 million as of March 31, 2023 and December 31, 2022, respectively, securing the bank guarantees discussed in Note 9 is restricted in use and classified within “Other long-term assets, net.” Such amounts plus “Cash and cash equivalents” on the consolidated balance sheets equal “Cash, cash equivalents, and restricted cash” on the consolidated statements of cash flows as of March 31, 2023 and December 31, 2022. Accounts receivable. As of March 31, 2023 and December 31, 2022, the loss reserve on accounts receivable was $125 million and $113 million, respectively. Note receivable. In February 2023, the secured note receivable related to the sale of Circus Circus Las Vegas and the adjacent land was repaid, prior to maturity, for $170 million, which approximated its carrying value on the date of repayment. As of December 31, 2022, the carrying value of the note receivable was $167 million and was recorded within “Other long-term assets, net” in the consolidated balance sheets. Accounts payable. As of March 31, 2023 and December 31, 2022, the Company had accrued $52 million and $80 million, respectively, for purchases of property and equipment within “Accounts and construction payable” on the consolidated balance sheets. Revenue recognition. Contract and Contract-Related Liabilities . There may be a difference between the timing of cash receipts from the customer and the recognition of revenue, resulting in a contract or contract-related liability. The Company generally has three types of liabilities related to contracts with customers: (1) outstanding chip liability, which represents the amounts owed in exchange for gaming chips held by a customer, (2) loyalty program obligations, which represents the deferred allocation of revenue relating to loyalty program incentives earned, and (3) customer advances and other, which is primarily funds deposited by customers before gaming play occurs (“casino front money”) and advance payments on goods and services yet to be provided, such as advance ticket sales and deposits on rooms and convention space or for unpaid wagers. These liabilities are generally expected to be recognized as revenue within one year of being purchased, earned, or deposited and are recorded within “Other accrued liabilities” on the consolidated balance sheets. The following table summarizes the activity related to contract and contract-related liabilities: Outstanding Chip Liability Loyalty Program Customer Advances and Other 2023 2022 2023 2022 2023 2022 (In thousands) Balance at January 1 $ 185,669 $ 176,219 $ 183,602 $ 144,465 $ 816,376 $ 640,001 Balance at March 31 168,307 141,636 183,101 149,316 787,866 720,764 Increase / (decrease) $ (17,362) $ (34,583) $ (501) $ 4,851 $ (28,510) $ 80,763 The January 1, 2023 balances exclude liabilities related to assets held for sale. Revenue by source. The Company presents the revenue earned disaggregated by the type or nature of the good or service (casino, room, food and beverage, and entertainment, retail and other) and by relevant geographic region within Note 12. Leases. The Company determines if an arrangement is or contains a lease at inception or modification of the arrangement. An arrangement is or contains a lease if there are identified assets and the right to control the use of an identified asset is conveyed for a period of time in exchange for consideration. Control over the use of the identified asset means the lessee has both the right to obtain substantially all of the economic benefits from the use of the asset and the right to direct the use of the asset. The Company classifies a lease with terms greater than twelve months as either operating or finance. At commencement, the right-of-use (“ROU”) assets and lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term. The initial measurement of ROU assets also includes any prepaid lease payments and are reduced by any previously accrued deferred rent. When available, such as for the Company’s triple-net operating leases for which the lessor has provided its implicit rate or provided the assumptions required for the Company to readily determine the rate implicit in the lease, the Company uses the rate implicit in the lease to discount lease payments to present value. However, for most of the Company’s leases, such as its ground subleases and equipment leases, the Company cannot readily determine the implicit rate. Accordingly, the Company uses its incremental borrowing rate to discount the lease payments for such leases based on the information available at the commencement date. Lease terms include options to extend or terminate the lease when it is reasonably certain that such option will be exercised. The Company’s triple-net operating leases each contain renewal periods at the Company’s option, each of which are not considered to be reasonably certain of being exercised. Many of the Company’s leases include fixed rental escalation clauses that are factored into the determination of lease payments. For operating leases, lease expense for minimum lease payments is recognized on a straight-line basis over the expected lease term. For finance leases, the ROU asset depreciates on a straight-line basis over the shorter of the lease term or useful life of the ROU asset and the lease liability accretes interest based on the interest method using the discount rate determined at lease commencement. Refer to Note 8 for discussion of leases under which the Company is a lessee. The Company is a lessor under certain other lease arrangements. Lease revenues earned by the Company from third parties are classified within the line item corresponding to the type or nature of the tenant’s good or service . For the three months ended March 31, 2023, lease revenues from third-party tenants include $18 million recorded within food and beverage revenue and $30 million recorded within entertainment, retail, and other revenue. For the three months ended March 31, 2022, lease revenues from third-party tenants include $14 million recorded within food and beverage revenue and $26 million recorded within entertainment, retail, and other revenue. Lease revenues from the rental of hotel rooms are recorded as rooms revenues within the consolidated statements of operations. Redeemable noncontrolling interest. Certain noncontrolling interest parties have non-voting economic interests in MGM National Harbor which provide for annual preferred distributions by MGM National Harbor to the noncontrolling interest parties based on a percentage of its annual net gaming revenue (as defined in the MGM National Harbor operating agreement). Such distributions are accrued each quarter and are paid 90 days after the end of each fiscal year. The noncontrolling interest parties each have the ability to require MGM National Harbor to purchase all or a portion of their interests for a purchase price based on a contractually agreed upon formula. The Company has recorded the interests as “Redeemable noncontrolling interests” in the mezzanine section of the accompanying consolidated balance sheets and not stockholders’ equity because their redemption is not exclusively in the Company’s control. The interests were initially accounted for at fair value. Subsequently, the Company recognizes changes in the redemption value as they occur and adjusts the carrying amount of the redeemable noncontrolling interests to equal the maximum redemption value, provided such amount does not fall below the initial carrying value, at the end of each reporting period. The Company records any changes caused by such an adjustment in capital in excess of par value. Additionally, the carrying amount of the redeemable noncontrolling interests is adjusted for accrued annual preferred distributions, with changes caused by such adjustments recorded within net income (loss) attributable to noncontrolling interests. During the three months ended March 31, 2023 and 2022, MGM National Harbor purchased $1 million and $18 million of interests from the noncontrolling interest parties, respectively. In April 2023, MGM National Harbor settled the purchase of $137 million of interests to which it had become obligated to purchase during the three months ended March 31, 2023, and, accordingly, such amount was reclassified from “Redeemable noncontrolling interests” into “Other accrued liabilities” on the accompanying consolidated balance sheet as of March 31, 2023. Share repurchases. Shares repurchased pursuant to the Company’s share repurchase plans are retired upon purchase. The cost of the repurchases in excess of the aggregate par value of the shares reduces capital in excess of par value, to the extent available, with any residual cost applied against retained earnings.

ACQUISITIONS AND DIVESTITURES

ACQUISITIONS AND DIVESTITURES	3 Months Ended
	Mar. 31, 2023
Business Combination and Asset Acquisition [Abstract]
ACQUISITIONS AND DIVESTITURES	ACQUISITIONS AND DIVESTITURES LeoVegas acquisition. On May 2, 2022, the Company commenced a public offer to the shareholders of LeoVegas to tender 100% of the shares at a price of SEK 61 in cash per share. On September 7, 2022, the Company completed its tender offer and acquired 65% of the outstanding shares of LeoVegas and, at the completion of an extended acceptance period on September 22, 2022, acquired an additional 2% of outstanding shares, for an aggregate cash tender price of $370 million. During the tender offer period, the Company had acquired 31% of outstanding shares in open market purchases that had an acquisition-date fair value of approximately $172 million. As the Company’s previous 31% ownership interest was accounted for at fair value, no gain or loss was recorded upon consolidation. The remaining outstanding shares, with a fair value of approximately $11 million based upon the tender price, were settled by the Company for cash in connection with squeeze-out proceedings during the second quarter of 2023. The acquisition provides the Company an opportunity to create a scaled global online gaming business. The Cosmopolitan acquisition. On May 17, 2022, the Company acquired 100% of the equity interests in the entities that own the operations of The Cosmopolitan for cash consideration of $1.625 billion plus working capital adjustments for a total purchase price of approximately $1.7 billion. The acquisition expands the Company’s customer base and provides a greater depth of choices and experiences for guests in Las Vegas. Unaudited pro forma information - The Cosmopolitan acquisition . The following unaudited pro forma consolidated financial information for the Company has been prepared assuming the Company’s acquisition of The Cosmopolitan had occurred as of January 1, 2021. The unaudited pro forma financial information below is not necessarily indicative of either future results of operations or results that might have been achieved had the acquisition been consummated as of the indicated date. Pro forma results of operations for the LeoVegas acquisition have not been included because it is not material to the consolidated results of operations. Three Months Ended 2022 (In thousands) Net revenues $ 3,119,738 Net income (loss) attributable to MGM Resorts International (1,854) VICI Transaction. Prior to the closing of the VICI Transaction (defined below), MGM Growth Properties LLC (“MGP”) was a consolidated subsidiary of the Company. Substantially all of its assets were owned by and substantially all of its operations were conducted through MGM Growth Properties Operating Partnership LP ("MGP OP”). MGP had two classes of common shares: Class A shares and a single Class B share. The Company owned MGP’s Class B share, through which it held a controlling interest in MGP as it was entitled to an amount of votes representing a majority of the total voting power of MGP’s shares. The Company and MGP each held MGP OP units representing limited partner interests in MGP OP. Additionally, the Company had leased the real estate assets of The Mirage, Luxor, New York-New York, Park MGM, Excalibur, The Park, Gold Strike Tunica, MGM Grand Detroit, Beau Rivage, Borgata, Empire City, MGM National Harbor, MGM Northfield Park, and MGM Springfield from MGP OP. The Company also leased, and continues to lease, the real estate assets of Mandalay Bay and MGM Grand Las Vegas from subsidiaries of a venture that was 50.1% owned by a subsidiary of MGP OP at the time of the transaction (such venture, the “MGP BREIT Venture”). On April 29, 2022, VICI Properties Inc. (“VICI”) acquired MGP in a stock-for-stock transaction (such transaction, the “VICI Transaction”). MGP Class A shareholders received 1.366 shares of newly issued VICI stock in exchange for each MGP Class A share outstanding and the Company received 1.366 units of VICI OP in exchange for each MGP OP unit held by the Company. The fixed exchange ratio represents an agreed upon price of $43 per share of MGP Class A share to the five-day volume weighted average price of VICI stock as of the close of business on July 30, 2021. In connection with the exchange, VICI OP redeemed the majority of the Company’s VICI OP units for cash consideration of $4.4 billion, with the Company retaining an approximate 1% ownership interest in VICI OP that had a fair value of approximately $375 million. MGP’s Class B share that was held by the Company was cancelled. Accordingly, the Company no longer held a controlling interest in MGP and deconsolidated MGP upon the closing of the transactions. Further, the Company entered into an amended and restated master lease with VICI as discussed in Note 8. The Mandalay Bay and MGM Grand Las Vegas lease remained unchanged. The Mirage transaction. On December 19, 2022, the Company completed the sale of the operations of The Mirage to an affiliate of Seminole Hard Rock Entertainment, Inc. (“Hard Rock”) for cash consideration of $1.075 billion, or $1.1 billion, net of purchase price adjustments and transaction costs. At closing, the master lease between the Company and VICI was amended to remove The Mirage and to reflect a $90 million reduction in annual cash rent. Gold Strike Tunica. On February 15, 2023, the Company completed the sale of the operations of Gold Strike Tunica to CNE for cash consideration of $450 million, or $473 million, net of purchase price adjustments and transaction costs. At closing, the master lease between the Company and VICI was amended to remove Gold Strike Tunica and to reflect a $40 million reduction in annual cash rent. The Company recognized a $398 million gain recorded within “Property transactions, net.” The gain reflects the net cash consideration less the net carrying value of the assets and liabilities derecognized of $75 million. The operations of Gold Strike Tunica are not classified as discontinued operations because the Company concluded that the sale is not a strategic shift that has a major effect on the Company’s operations or its financial results and it does not represent a major geographic segment or product line. The major classes of assets and liabilities derecognized are as follows: Gold Strike Tunica (In thousands) Cash and cash equivalents $ 26,911 Accounts receivable, net 2,466 Inventories 1,087 Prepaid expenses and other 1,522 Property and equipment, net 21,300 Goodwill 40,523 Other intangible assets, net 5,700 Operating lease right-of-use assets, net 507,231 Other long-term assets, net 1,251 Total assets $ 607,991 Accounts payable $ 1,657 Other accrued liabilities 13,778 Other long-term obligations 1,707 Operating lease liabilities 516,136 Total liabilities $ 533,278

INVESTMENTS IN AND ADVANCES TO

INVESTMENTS IN AND ADVANCES TO UNCONSOLIDATED AFFILIATES	3 Months Ended
	Mar. 31, 2023
Equity Method Investments and Joint Ventures [Abstract]
INVESTMENTS IN AND ADVANCES TO UNCONSOLIDATED AFFILIATES	INVESTMENTS IN AND ADVANCES TO UNCONSOLIDATED AFFILIATES Investments in and advances to unconsolidated affiliates consisted of the following: March 31, December 31, (In thousands) BetMGM (50%) $ — $ 31,760 Other 153,856 141,279 $ 153,856 $ 173,039 The Company’s share of losses of BetMGM in excess of its equity method investment balance is $24 million as of March 31, 2023. The Company recorded its share of loss from unconsolidated affiliates as follows: Three Months Ended 2023 2022 (In thousands) Loss from unconsolidated affiliates $ (74,999) $ (46,838) Non-operating items from unconsolidated affiliates (1,184) (15,133) $ (76,183) $ (61,971) The following table summarizes information related to the Company’s share of operating loss from unconsolidated affiliates: Three Months Ended 2023 2022 (In thousands) MGP BREIT Venture (through April 29, 2022) $ — $ 38,936 BetMGM (81,872) (91,993) Other 6,873 6,219 $ (74,999) $ (46,838) In connection with the VICI Transaction in April 2022, the Company deconsolidated MGP and, accordingly, derecognized the assets and liabilities of MGP, which included MGP OP’s investment in MGP BREIT Venture. MGP BREIT Venture distributions. For the three months ended March 31, 2022, MGP OP received $24 million in distributions from MGP BREIT Venture. BetMGM contributions. For the three months ended March 31, 2023 and 2022, the Company contributed $25 million and $125 million to BetMGM, respectively.

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS	3 Months Ended
	Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER INTANGIBLE ASSETS	GOODWILL AND OTHER INTANGIBLE ASSETS Goodwill and other intangible assets consisted of the following: March 31, December 31, (In thousands) Goodwill $ 5,024,905 $ 5,029,312 Indefinite-lived intangible assets: Trademarks $ 756,378 $ 754,431 Gaming rights and other 385,129 385,060 Total indefinite-lived intangible assets 1,141,507 1,139,491 Finite-lived intangible assets: MGM Grand Paradise gaming subconcession — 4,519,486 Less: Accumulated amortization — (4,519,486) — — Customer lists 284,937 283,232 Less: Accumulated amortization (71,914) (60,055) 213,023 223,177 Gaming rights 332,032 106,600 Less: Accumulated amortization (40,723) (33,316) 291,309 73,284 Technology and other 130,530 129,061 Less: Accumulated amortization (20,218) (13,761) 110,312 115,300 Total finite-lived intangible assets, net 614,644 411,761 Total other intangible assets, net $ 1,756,151 $ 1,551,252 MGM Grand Paradise gaming subconcession and concession. Pursuant to the gaming concession contract that MGM Grand Paradise entered into with the Macau government, which commenced January 1, 2023, MGM Grand Paradise is required, among other things, to pay a fixed annual premium and an annual variable premium based on the number of gaming tables and machines for the term of the gaming concession. Additionally, in connection with the expiration of the MGM Grand Paradise gaming subconcession on December 31, 2022, the casino areas of MGM Cotai and MGM Macau reverted, free of charge and without any encumbrances, to the Macau government, which became the legal owner of the reverted gaming assets. Upon the commencement of the gaming concession, the gaming assets were temporarily transferred to MGM Grand Paradise for the duration of the concession term in return for annual payments determined by square meters of the reverted casino areas. On January 1, 2023, MGM Grand Paradise recorded an intangible asset, included within “Gaming rights” above, of $226 million for the right to conduct gaming and operate the reverted gaming equipment and gaming areas and a corresponding liability for the in-substance consideration to be paid over the concession term for such rights, which is the unconditional obligation of the fixed and variable annual premiums, as well as the payments relating to the use of the reverted gaming assets

LONG-TERM DEBT

LONG-TERM DEBT	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
LONG-TERM DEBT	LONG-TERM DEBT Long-term debt consisted of the following: March 31, December 31, (In thousands) MGM China first revolving credit facility $ 879,003 $ 1,249,744 MGM China second revolving credit facility — 224,313 6% senior notes, due 2023 — 1,250,000 LeoVegas senior notes, due 2023 36,571 36,580 5.375% MGM China senior notes, due 2024 750,000 750,000 6.75% senior notes, due 2025 750,000 750,000 5.75% senior notes, due 2025 675,000 675,000 5.25% MGM China senior notes, due 2025 500,000 500,000 5.875% MGM China senior notes, due 2026 750,000 750,000 4.625% senior notes, due 2026 400,000 400,000 5.5% senior notes, due 2027 675,000 675,000 4.75% MGM China senior notes, due 2027 750,000 750,000 4.75% senior notes, due 2028 750,000 750,000 7% debentures, due 2036 552 552 6,916,126 8,761,189 Less: Premiums, discounts, and unamortized debt issuance costs, net (38,151) (41,899) 6,877,975 8,719,290 Less: Current portion (36,492) (1,286,473) $ 6,841,483 $ 7,432,817 Senior secured credit facility. At March 31, 2023, the Company’s senior secured credit facility consisted of a $1.675 billion revolving credit facility, of which no amounts were drawn. The Company’s senior secured credit facility contains customary representations and warranties, events of default and positive and negative covenants. The Company was in compliance with its credit facility covenants at March 31, 2023. MGM China first revolving credit facility. At March 31, 2023, the MGM China first revolving credit facility consisted of a HK$9.75 billion unsecured revolving credit facility. At March 31, 2023, the weighted average interest rate was 5.51%. The MGM China first revolving credit facility contains customary representations and warranties, events of default, and positive, negative and financial covenants, including that MGM China maintains compliance with a maximum leverage ratio and a minimum interest coverage ratio. In February 2022, MGM China amended its first revolving credit facility to extend the financial covenant waivers through maturity in May 2024. MGM China was in compliance with its applicable MGM China first revolving credit facility covenants at March 31, 2023. MGM China second revolving credit facility. At March 31, 2023, the MGM China second revolving credit facility consisted of a HK$3.12 billion unsecured revolving credit facility with an option to increase the amount of the facility up to HK$3.9 billion, subject to certain conditions. Draws will be subject to satisfaction of certain conditions precedent, including evidence that the MGM China first revolving credit facility has been fully drawn. At March 31, 2023, no amounts were drawn on the MGM China second revolving credit facility. The MGM China second revolving credit facility contains customary representations and warranties, events of default, and positive, negative and financial covenants, including that MGM China maintains compliance with a maximum leverage ratio and a minimum interest coverage ratio. In February 2022, MGM China amended its second revolving credit facility to extend the financial covenant waivers through maturity in May 2024. MGM China was in compliance with its applicable MGM China second revolving credit facility covenants at March 31, 2023. Senior notes. In March 2023, the Company repaid its $1.25 billion 6% notes due 2023 upon maturity. In March 2022, the Company repaid its $1.0 billion 7.75% notes due 2022 upon maturity. Fair value of long-term debt. The estimated fair value of the Company’s long-term debt was $6.6 billion and $8.4 billion at March 31, 2023 and December 31, 2022, respectively.

INCOME TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2023
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES For interim income tax reporting the Company estimates its annual effective tax rate and applies it to its year-to-date ordinary income. The tax effects of unusual or infrequently occurring items, including changes in judgment about valuation allowances and effects of changes in tax laws or rates, are reported in the interim period in which they occur. The Company’s effective income tax rate was a provision of 25.7% on income before income taxes and a benefit of 51.1% on loss before income taxes for the three months ended March 31, 2023, and 2022, respectively. The Company recognizes deferred income tax assets, net of applicable reserves, related to net operating losses, tax credit carryforwards and certain temporary differences. The Company recognizes future tax benefits to the extent that realization of such benefit is more likely than not. Otherwise, a valuation allowance is applied.

LEASES

LEASES	3 Months Ended
	Mar. 31, 2023
Leases [Abstract]
LEASES	LEASES The Company leases real estate, land underlying certain of its properties, and various equipment under operating and, to a lesser extent, finance lease arrangements. Real estate assets and land. The Company leases the real estate assets of its domestic properties pursuant to triple-net lease agreements, which are classified as operating leases. The triple-net structure of the leases requires the Company to pay substantially all costs associated with each property, including real estate taxes, insurance, utilities and routine maintenance (with each lease obligating the Company to spend a specified percentage of net revenues at the properties on capital expenditures), in addition to the annual cash rent. Each of the leases also requires the Company to comply with certain financial covenants, which, if not met, would require the Company to maintain cash security or provide one or more letters of credit in favor of the landlord in an amount equal to 6 months or 1 year of rent, as applicable to the circumstances, under the VICI lease, 1 year of rent under the Mandalay Bay and MGM Grand Las Vegas lease, the Aria and Vdara lease, and The Cosmopolitan lease, and 2 years of rent under the Bellagio lease. The Company was in compliance with its applicable covenants under its leases as of March 31, 2023. Bellagio lease . The Company leases the real estate assets of Bellagio from Bellagio BREIT Venture. The Bellagio lease commenced November 15, 2019 and has an initial term of 30 years with two 10-year renewal periods, exercisable at the Company’s option, with a fixed 2% rent escalator for the first 10 years and, thereafter, an escalator equal to the greater of 2% and the CPI increase during the prior year, subject to a cap of 3% during the 11th through 20th years and 4% thereafter. Annual cash rent payments for the fourth lease year that commenced on December 1, 2022 increased to $260 million as a result of the 2% fixed annual escalator. Mandalay Bay and MGM Grand Las Vegas lease . The Company leases the real estate assets of Mandalay Bay and MGM Grand Las Vegas from subsidiaries of VICI. The Mandalay Bay and MGM Grand Las Vegas lease commenced February 14, 2020 and has an initial term of 30 years with two 10-year renewal periods, exercisable at the Company’s option, with a fixed 2% rent escalator for the first 15 years and, thereafter, an escalator equal to the greater of 2% and the CPI increase during the prior year, subject to a cap of 3%. Annual cash rent payments for the fourth lease year that commenced on March 1, 2023 increased to $310 million as a result of the 2% fixed annual escalator. Aria and Vdara lease . The Company leases the real estate assets of Aria and Vdara from funds managed by Blackstone. The Aria and Vdara lease commenced September 28, 2021 and has an initial term of 30 years with three 10-year renewal periods, exercisable at the Company’s option, with a fixed 2% rent escalator for the first 15 years, and thereafter, an escalator equal to the greater of 2% and the CPI increase during the prior year, subject to a cap of 3%. Annual cash rent payments for the second lease year that commenced on October 1, 2022 increased to $219 million as a result of the 2% fixed annual escalator. The VICI lease and ground subleases. The Company leases the real estate assets of Luxor, New York-New York, Park MGM, Excalibur, The Park, MGM Grand Detroit, Beau Rivage, Borgata, Empire City, MGM National Harbor, MGM Northfield Park, and MGM Springfield from VICI. The VICI lease commenced April 29, 2022 and has an initial term of 25 years, with three 10-year renewal periods, exercisable at the Company’s option, with a fixed 2% rent escalator for the first 10 years, and thereafter, an escalator equal to the greater of 2% and the CPI increase during the prior year subject to a cap of 3%. Additionally, the VICI lease provides VICI with a right of first offer with respect to any further gaming development by the Company on the undeveloped land adjacent to Empire City, which VICI may exercise should the Company elect to sell the property. Annual cash rent payments for the first lease year that commenced on April 29, 2022 was $860 million. In December 2022, in connection with the sale of the operations of The Mirage, the VICI lease was amended to remove The Mirage and to reflect a $90 million reduction in annual cash rent, thereby reducing the annual cash rent payments to $770 million. In February 2023, in connection with the sale of the operations of Gold Strike Tunica, the VICI lease was amended to remove Gold Strike Tunica and to reflect a $40 million reduction in annual cash rent, thereby reducing the annual cash rent payments to $730 million. The modification resulted in a reassessment of the lease classification and remeasurement of the VICI lease, with the lease continuing to be accounted for as an operating lease and $507 million of net operating lease ROU and $516 million of lease liabilities allocable to Gold Strike Tunica were derecognized (see Note 3). Annual cash rent payments for the second lease year that commenced on May 1, 2023 increased to $745 million as a result of the 2% fixed annual escalator. The Company is required to pay the rent payments under the ground leases of the Borgata, Beau Rivage, and National Harbor through the term of the VICI lease. The ground subleases of Beau Rivage and National Harbor are classified as operating leases and the ground sublease of Borgata is classified as a finance lease. The Cosmopolitan lease. The Company leases the real estate assets of The Cosmopolitan from a subsidiary of BREIT. The Cosmopolitan lease commenced May 17, 2022 and has an initial term of 30 years with three 10-year renewal periods, exercisable at the Company’s option, with a fixed 2% rent escalator for the first 15 years, and thereafter, an escalator equal to the greater of 2% and the CPI increase during the prior year, subject to a cap of 3%. Annual cash rent payments for the first lease year that commenced on May 17, 2022 was $200 million. MGM China land concessions . MGM Grand Paradise has MGM Macau and MGM Cotai land concession contracts with the government of Macau, each with an initial 25-year contract term ending in April 2031 and January 2038, respectively, with a right to renew for further consecutive periods of 10 years, at MGM Grand Paradise’s option. The land leases are classified as operating leases. Other information. Components of lease costs and other information related to the Company’s leases are: Three Months Ended 2023 2022 (In thousands) Operating lease cost, primarily classified within “General and administrative” (1) $ 580,988 $ 271,849 Finance lease costs Interest expense $ 1,414 $ 893 Amortization expense 17,526 20,157 Total finance lease costs $ 18,940 $ 21,050 (1) Operating lease cost includes $83 million for each of the three months ended March 31, 2023 and 2022 related to the Bellagio lease, which is held with a related party. March 31, December 31, (In thousands) Operating leases Operating lease ROU assets, net (1) $ 24,403,384 $ 24,530,929 Operating lease liabilities - current, classified within “Other accrued liabilities” $ 56,866 $ 53,981 Operating lease liabilities - long-term (2) 25,145,321 25,149,299 Total operating lease liabilities $ 25,202,187 $ 25,203,280 Finance leases Finance lease ROU assets, net classified within “Property and equipment, net” $ 133,031 $ 150,571 Finance lease liabilities - current, classified within “Other accrued liabilities” $ 52,492 $ 72,420 Finance lease liabilities - long-term, classified within “Other long-term obligations” 87,530 88,181 Total finance lease liabilities $ 140,022 $ 160,601 Weighted average remaining lease term (years) Operating leases 26 26 Finance leases 15 14 Weighted average discount rate (%) Operating leases 7 7 Finance leases 5 5 (1) As of March 31, 2023 and December 31, 2022, operating lease right-of-use assets, net included $3.5 billion related to the Bellagio lease. (2) As of March 31, 2023 and December 31, 2022, operating lease liabilities – long-term included $3.8 billion related to the Bellagio lease. Three Months Ended 2023 2022 Cash paid for amounts included in the measurement of lease liabilities (In thousands) Operating cash outflows from operating leases $ 453,480 $ 211,326 Operating cash outflows from finance leases 1,787 945 Financing cash outflows from finance leases (1) 21,119 22,649 ROU assets obtained in exchange for new lease liabilities Operating leases $ 4,581 $ 4,480 Finance leases — — (1) Included within “Other” within “Cash flows from financing activities” on the consolidated statements of cash flows. Maturities of lease liabilities were as follows: Operating Leases Finance Leases Year ending December 31, (In thousands) 2023 (excluding the three months ended March 31, 2023) $ 1,348,967 $ 56,396 2024 1,827,193 8,756 2025 1,856,510 8,255 2026 1,883,512 7,021 2027 839,733 6,992 Thereafter 51,965,891 135,187 Total future minimum lease payments 59,721,806 222,607 Less: Amount of lease payments representing interest (34,519,619) (82,585) Present value of future minimum lease payments 25,202,187 140,022 Less: Current portion (56,866) (52,492) Long-term portion of lease liabilities $ 25,145,321 $ 87,530

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Litigation. The Company is a party to various legal proceedings, most of which relate to routine matters incidental to its business. Management does not believe that the outcome of such proceedings will have a material adverse effect on the Company’s financial position, results of operations or cash flows . Other guarantees. The Company and its subsidiaries are party to various guarantee contracts in the normal course of business, which are generally supported by letters of credit issued by financial institutions . The Company’s senior credit facility limits the amount of letters of credit that can be issued to $1.35 billion. At March 31, 2023, $29 million in letters of credit were outstanding under the Company’s senior credit facility. The amount of available borrowings under the credit facility is reduced by any outstanding letters of credit. MGM China bank guarantees. In connection with the issuance of the gaming concession in January 2023, bank guarantees were provided to the government of Macau in the amount of MOP 1 billion (approximately $124 million as of March 31, 2023 ) to warrant the fulfillment of labor liabilities and of damages or losses that may result if there is noncompliance with the concession. The guarantees expire 180 days after the end of the concession term. As of December 31, 2022, MOP 1 billion (approximately $124 million as of December 31, 2022) of the bank guarantees were secured by pledged cash and, in connection with a release of MOP 300 million of such pledged cash during the three months ended March 31, 2023, MOP 700 million of the bank guarantees (approximately $87 million as of March 31, 2023) were secured by pledged cash as of March 31, 2023. Shortfall guarantees. The Company provides shortfall guarantees of the $3.01 billion principal amount of indebtedness (and any interest accrued and unpaid thereon) of Bellagio BREIT Venture, the landlord of Bellagio, which matures in 2029 and of the $3.0 billion principal amount of indebtedness (and any interest accrued and unpaid thereon) of the landlords of Mandalay Bay and MGM Grand Las Vegas, which matures in 2032 and has an anticipated repayment date of March 2030. The terms of the shortfall guarantees provide that after the lenders have exhausted certain remedies to collect on the obligations under the indebtedness, the Company would then be responsible for any shortfall between the value of the collateral, which is the real estate assets of the applicable property owned by the landlord, and the debt obligation. The guarantees are accounted for under ASC 460 at fair value; such value is immaterial.

EARNINGS PER SHARE

EARNINGS PER SHARE	3 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHAREThe table below reconciles basic and diluted earnings per share of common stock. Diluted weighted-average common and common equivalent shares include adjustments for potential dilution of share-based awards outstanding under the Company’s stock compensation plan. Three Months Ended 2023 2022 Numerator: Net income (loss) attributable to MGM Resorts International $ 466,807 $ (18,016) Adjustment related to redeemable noncontrolling interests 1,297 (8,986) Net income (loss) attributable to common stockholders – basic and diluted $ 468,104 $ (27,002) Denominator: Weighted-average common shares outstanding – basic 374,085 442,916 Potential dilution from share-based awards 4,010 — Weighted-average common and common equivalent shares – diluted 378,095 442,916 Antidilutive share-based awards excluded from the calculation of diluted earnings per share 276 6,687

STOCKHOLDERS_ EQUITY

STOCKHOLDERS’ EQUITY	3 Months Ended
	Mar. 31, 2023
Equity [Abstract]
STOCKHOLDERS’ EQUITY	STOCKHOLDERS’ EQUITY MGM Resorts International stock repurchases. In March 2022, the Company announced that the Board of Directors authorized a $2.0 billion stock repurchase plan, and, in February 2023, the Company announced that the Board of Directors authorized a $2.0 billion stock repurchase plan. Under these stock repurchase plans, the Company may repurchase shares from time to time in the open market or in privately negotiated agreements. Repurchases of common stock may also be made under a Rule 10b5-1 plan, which would permit common stock to be repurchased when the Company might otherwise be precluded from doing so under insider trading laws. The timing, volume and nature of stock repurchases will be at the sole discretion of management, dependent on market conditions, applicable securities laws, and other factors, and may be suspended or discontinued at any time. During the three months ended March 31, 2022, the Company repurchased approximately 23 million shares of its common stock for an aggregate amount of $1.0 billion, which included the February 2022 repurchase of 4.5 million shares for an aggregate amount of $202.5 million from funds managed by Corvex Management LP, a related party. Repurchased shares were retired. During the three months ended March 31, 2023, the Company repurchased approximately 12 million shares of its common stock for an aggregate amount of $487 million. In connection with these repurchases, the March 2022 stock repurchase plan was completed. Repurchased shares were retired. The remaining availability under the February 2023 $2.0 billion stock repurchase plan was $2.0 billion as of March 31, 2023. Subsequent to the quarter ended March 31, 2023, the Company repurchased approximately 4 million shares of its common stock for an aggregate amount of $172 million, excluding excise tax. Repurchased shares were retired. Accumulated other comprehensive income. Changes in accumulated other comprehensive income attributable to MGM Resorts International are as follows: Currency Translation Adjustments Other Total (In thousands) Balances, January 1, 2023 $ 34,435 $ (936) $ 33,499 Other comprehensive loss before reclassifications (49) — (49) Amounts reclassified from accumulated other comprehensive income to "Other, net" — 871 871 Other comprehensive income (loss), net of tax (49) 871 822 Other comprehensive loss attributable to noncontrolling interest 2,487 — 2,487 Balances, March 31, 2023 $ 36,873 $ (65) $ 36,808

SEGMENT INFORMATION

SEGMENT INFORMATION	3 Months Ended
	Mar. 31, 2023
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION The Company’s management views each of its casino properties as an operating segment. Operating segments are aggregated based on their similar economic characteristics, types of customers, types of services and products provided, the regulatory environments in which they operate and their management and reporting structure. The Company has aggregated its operating segments into the following reportable segments: Las Vegas Strip Resorts, Regional Operations and MGM China. Las Vegas Strip Resorts. Las Vegas Strip Resorts consists of the following casino resorts in Las Vegas, Nevada: Aria (including Vdara), Bellagio, The Cosmopolitan (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). Regional Operations. Regional Operations consists of the following casino properties: MGM Grand Detroit in Detroit, Michigan; Beau Rivage in Biloxi, Mississippi; Gold Strike Tunica in Tunica, Mississippi (until its disposition in February 2023); Borgata in Atlantic City, New Jersey; MGM National Harbor in Prince George’s County, Maryland; MGM Springfield in Springfield, Massachusetts; Empire City in Yonkers, New York; and MGM Northfield Park in Northfield Park, Ohio. MGM China. MGM China consists of MGM Macau and MGM Cotai. The Company’s operations related to LeoVegas (upon its acquisition in September 2022), investments in unconsolidated affiliates, and certain other corporate operations and management services have not been identified as separate reportable segments; therefore, these operations are included in “Corporate and other” in the following segment disclosures to reconcile to consolidated results. Adjusted Property EBITDAR is the Company’s reportable segment GAAP measure, which management utilizes as the primary profit measure for its reportable segments and underlying operating segments. Adjusted Property EBITDAR is a measure defined as earnings before interest and other non-operating income (expense), taxes, depreciation and amortization, preopening and start-up expenses, property transactions, net, rent expense related to triple-net operating leases and ground leases, income from unconsolidated affiliates related to investments in real estate ventures, and also excludes corporate expense and stock compensation expense, which are not allocated to each operating segment, and rent expense related to the master lease with MGP that eliminated in consolidation. The following tables present the Company’s segment information: Three Months Ended 2023 2022 (In thousands) Net revenue Las Vegas Strip Resorts Casino $ 500,563 $ 475,298 Rooms 751,691 485,288 Food and beverage 582,627 384,276 Entertainment, retail and other 341,271 318,030 2,176,152 1,662,892 Regional Operations Casino 716,977 703,679 Rooms 67,304 56,114 Food and beverage 111,879 91,138 Entertainment, retail and other, and reimbursed costs 49,683 39,898 945,843 890,829 MGM China Casino 555,272 231,203 Rooms 29,493 15,671 Food and beverage 27,625 17,441 Entertainment, retail and other 5,202 4,060 617,592 268,375 Reportable segment net revenues 3,739,587 2,822,096 Corporate and other 133,709 32,213 $ 3,873,296 $ 2,854,309 Three Months Ended 2023 2022 (In thousands) Adjusted Property EBITDAR Las Vegas Strip Resorts $ 835,809 $ 593,634 Regional Operations 313,175 313,279 MGM China 168,948 (25,656) Reportable segment Adjusted Property EBITDAR 1,317,932 881,257 Other operating income (expense) Corporate and other, net (211,669) (210,853) Preopening and start-up expenses (139) (434) Property transactions, net 396,076 (54,738) Depreciation and amortization (203,501) (288,638) Triple-net operating lease and ground lease rent expense (570,555) (262,452) Income from unconsolidated affiliates related to real estate ventures 2,695 41,646 Operating income 730,839 105,788 Non-operating income (expense) Interest expense, net of amounts capitalized (130,300) (196,091) Non-operating items from unconsolidated affiliates (1,184) (15,133) Other, net 46,307 34,302 (85,177) (176,922) Income (loss) before income taxes 645,662 (71,134) Benefit (provision) for income taxes (165,779) 36,341 Net income (loss) 479,883 (34,793) Less: Net (income) loss attributable to noncontrolling interests (13,076) 16,777 Net income (loss) attributable to MGM Resorts International $ 466,807 $ (18,016)

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	3 Months Ended
	Mar. 31, 2023
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS MGP. Prior to the closing of the VICI Transaction, the Company leased the real estate assets of The Mirage, Luxor, New York-New York, Park MGM, Excalibur, The Park, Gold Strike Tunica, MGM Grand Detroit, Beau Rivage, Borgata, Empire City, MGM National Harbor, MGM Northfield Park, and MGM Springfield pursuant to a master lease with MGP. The annual cash rent payments under the master lease with MGP for the seventh lease year, which commenced on April 1, 2022, increased to $877 million from $873 million, due to the sixth 2% annual base rent escalator that went into effect on April 1, 2022, as the adjusted net revenue to rent ratio on which such escalator was contingent was met, which increased annual cash rent by $16 million, partially offset by the percentage rent reset that went into effect on April 1, 2022, calculated based on the percentage of average actual annual net revenue of the leased properties during the preceding five year period, which decreased annual cash rent by $12 million. All intercompany transactions, including transactions under the MGP master lease, have been eliminated in the Company’s consolidation of MGP. The public ownership of MGP’s Class A shares was recognized as noncontrolling interests in the Company’s consolidated financial statements. In April 2022, the Company completed the VICI Transaction, which resulted in the deconsolidation of MGP. Refer to Note 3 for additional information on the VICI Transaction. As part of the transaction, the Company entered into an amended and restated master lease with VICI. Refer to Note 8 for further discussion on the master lease with VICI. Bellagio BREIT Venture. The Company has a 5% ownership interest in Bellagio BREIT Venture, which owns the real estate assets of Bellagio and leases such assets to a subsidiary of the Company pursuant to a lease agreement. Refer to Note 8 for further information related to the Bellagio lease.

BASIS OF PRESENTATION AND SIG_2

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation . As permitted by the rules and regulations of the Securities and Exchange Commission (“SEC”), certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) have been condensed or omitted. These consolidated financial statements should be read in conjunction with the Company’s 2022 annual consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022.
Principles of consolidation	Principles of consolidation . The Company evaluates entities for which control is achieved through means other than voting rights to determine if it is the primary beneficiary of a variable interest entity (“VIE”). The Company consolidates its investment in a VIE when it determines that it is its primary beneficiary. The Company may change its original assessment of a VIE upon subsequent events such as the modification of contractual arrangements that affect the characteristics or adequacy of the entity’s equity investments at risk and the disposition of all or a portion of an interest held by the primary beneficiary. The Company performs this analysis on an ongoing basis. The venture (the “Bellagio BREIT Venture”) that is 5% owned by a subsidiary of the Company and 95% owned by a subsidiary of BREIT is a VIE because the equity holders as a group lack the power through voting or similar rights to direct the activities of such entity that most significantly impact such entity’s economic performance. The Company is not the primary beneficiary of Bellagio BREIT Venture because the Company does not have power to direct the activities that could potentially be significant to the venture as BREIT, as the managing member, has such power; accordingly, the Company does not consolidate the venture. The Company’s maximum exposure to loss in Bellagio BREIT Venture is equal to the carrying value of its investment of $56 million as of March 31, 2023, assuming no future capital funding requirements, plus the exposure to loss resulting from the Company’s guarantee of the debt of Bellagio BREIT Venture, which guarantee is immaterial as of March 31, 2023, as further discussed in Note 9. For entities determined not to be a VIE, the Company consolidates such entities in which the Company owns 100% of the equity. For entities in which the Company owns less than 100% of the equity interest, the Company consolidates the entity under the voting interest model if it has a controlling financial interest based upon the terms of the respective entities’ ownership agreements, such as MGM China. For these entities, the Company records a noncontrolling interest in the consolidated balance sheets and all intercompany balances and transactions are eliminated in consolidation. If the entity does not qualify for consolidation under the voting interest model and the Company has significant influence over the operating and financial decisions of the entity, the Company generally accounts for the entity under the equity method, such as BetMGM, which does not qualify for consolidation as the Company has joint control, given the entity is structured with substantive participating rights whereby both owners participate in the decision making process, which prevents the Company from exerting a controlling financial interest in such entity, as defined in Accounting Standards Codification (“ASC”) 810. For entities over which the Company does not have significant influence, the Company accounts for its equity investment under ASC 321.
Fair value measurements	Fair value measurements . Fair value measurements affect the Company’s accounting and impairment assessments of its long-lived assets, investments in unconsolidated affiliates or equity interests, assets acquired, and liabilities assumed in an acquisition, and goodwill and other intangible assets. Fair value measurements also affect the Company’s accounting for certain of its financial assets and liabilities. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date and is measured according to a hierarchy that includes: Level 1 inputs, such as quoted prices in an active market; Level 2 inputs, which are quoted prices for identical or comparable instruments or pricing using observable market data; or Level 3 inputs, which are unobservable inputs. The Company used the following inputs in its fair value measurements: • Level 1 inputs when measuring its equity investments recorded at fair value; • Level 2 inputs for its long-term debt fair value disclosures; See Note 6; and • Level 1 and Level 2 inputs for its debt investments. Equity investments. Fair value is measured based upon trading prices on the applicable securities exchange for equity investments for which the Company has elected the fair value option of ASC 825 and equity investments accounted for under ASC 321 that have a readily determinable fair value. The fair value of these investments was $460 million and $461 million as of March 31, 2023 and December 31, 2022, respectively, and is reflected within “Other long-term assets, net” on the consolidated balance sheets. Gains and losses are recorded in “Other, net” in the statements of operations. For the three months ended March 31, 2023, the Company recorded a net loss on its equity investments of less than $1 million. For the three months ended March 31, 2022, the Company recorded a net gain on its equity investments of $15 million. Debt investments. The Company’s investments in debt securities are classified as trading securities and recorded at fair value. Gains and losses are recorded in “Other, net” in the statements of operations. Debt securities are considered cash equivalents if the criteria for such classification is met or otherwise classified as short-term investments within “Prepaid expenses and other” since the investment of cash is available for current operations. The following tables present information regarding the Company’s debt investments: Fair value level March 31, 2023 December 31, 2022 (In thousands) Cash and cash equivalents: Money market funds Level 1 $ 591 $ 12,009 Commercial paper and certificates of deposit Level 2 — 5,992 Cash and cash equivalents 591 18,001 Short-term investments: U.S. government securities Level 1 62,039 56,835 U.S. agency securities Level 2 28,928 9,530 Commercial paper and certificates of deposit Level 2 11,064 4,466 Corporate bonds Level 2 406,848 213,875 Short-term investments 508,879 284,706 Total debt investments $ 509,470 $ 302,707
Restricted cash	Restricted cash. MGM China’s pledged cash of $87 million and $124 million as of March 31, 2023 and December 31, 2022, respectively, securing the bank guarantees discussed in Note 9 is restricted in use and classified within “Other long-term assets, net.” Such amounts plus “Cash and cash equivalents” on the consolidated balance sheets equal “Cash, cash equivalents, and restricted cash” on the consolidated statements of cash flows as of March 31, 2023 and December 31, 2022.
Revenue recognition	Revenue recognition. Contract and Contract-Related Liabilities . There may be a difference between the timing of cash receipts from the customer and the recognition of revenue, resulting in a contract or contract-related liability. The Company generally has three types of liabilities related to contracts with customers: (1) outstanding chip liability, which represents the amounts owed in exchange for gaming chips held by a customer, (2) loyalty program obligations, which represents the deferred allocation of revenue relating to loyalty program incentives earned, and (3) customer advances and other, which is primarily funds deposited by customers before gaming play occurs (“casino front money”) and advance payments on goods and services yet to be provided, such as advance ticket sales and deposits on rooms and convention space or for unpaid wagers. These liabilities are generally expected to be recognized as revenue within one year of being purchased, earned, or deposited and are recorded within “Other accrued liabilities” on the consolidated balance sheets. The following table summarizes the activity related to contract and contract-related liabilities: Outstanding Chip Liability Loyalty Program Customer Advances and Other 2023 2022 2023 2022 2023 2022 (In thousands) Balance at January 1 $ 185,669 $ 176,219 $ 183,602 $ 144,465 $ 816,376 $ 640,001 Balance at March 31 168,307 141,636 183,101 149,316 787,866 720,764 Increase / (decrease) $ (17,362) $ (34,583) $ (501) $ 4,851 $ (28,510) $ 80,763 The January 1, 2023 balances exclude liabilities related to assets held for sale. Revenue by source. The Company presents the revenue earned disaggregated by the type or nature of the good or service (casino, room, food and beverage, and entertainment, retail and other) and by relevant geographic region within Note 12.
Leases	Leases. The Company determines if an arrangement is or contains a lease at inception or modification of the arrangement. An arrangement is or contains a lease if there are identified assets and the right to control the use of an identified asset is conveyed for a period of time in exchange for consideration. Control over the use of the identified asset means the lessee has both the right to obtain substantially all of the economic benefits from the use of the asset and the right to direct the use of the asset. The Company classifies a lease with terms greater than twelve months as either operating or finance. At commencement, the right-of-use (“ROU”) assets and lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term. The initial measurement of ROU assets also includes any prepaid lease payments and are reduced by any previously accrued deferred rent. When available, such as for the Company’s triple-net operating leases for which the lessor has provided its implicit rate or provided the assumptions required for the Company to readily determine the rate implicit in the lease, the Company uses the rate implicit in the lease to discount lease payments to present value. However, for most of the Company’s leases, such as its ground subleases and equipment leases, the Company cannot readily determine the implicit rate. Accordingly, the Company uses its incremental borrowing rate to discount the lease payments for such leases based on the information available at the commencement date. Lease terms include options to extend or terminate the lease when it is reasonably certain that such option will be exercised. The Company’s triple-net operating leases each contain renewal periods at the Company’s option, each of which are not considered to be reasonably certain of being exercised. Many of the Company’s leases include fixed rental escalation clauses that are factored into the determination of lease payments. For operating leases, lease expense for minimum lease payments is recognized on a straight-line basis over the expected lease term. For finance leases, the ROU asset depreciates on a straight-line basis over the shorter of the lease term or useful life of the ROU asset and the lease liability accretes interest based on the interest method using the discount rate determined at lease commencement. Refer to Note 8 for discussion of leases under which the Company is a lessee. The Company is a lessor under certain other lease arrangements. Lease revenues earned by the Company from third parties are classified within the line item corresponding to the type or nature of the tenant’s good or service . For the three months ended March 31, 2023, lease revenues from third-party tenants include $18 million recorded within food and beverage revenue and $30 million recorded within entertainment, retail, and other revenue. For the three months ended March 31, 2022, lease revenues from third-party tenants include $14 million recorded within food and beverage revenue and $26 million recorded within entertainment, retail, and other revenue. Lease revenues from the rental of hotel rooms are recorded as rooms revenues within the consolidated statements of operations.
Share repurchases	Share repurchases. Shares repurchased pursuant to the Company’s share repurchase plans are retired upon purchase. The cost of the repurchases in excess of the aggregate par value of the shares reduces capital in excess of par value, to the extent available, with any residual cost applied against retained earnings
Receivable	Note receivable. In February 2023, the secured note receivable related to the sale of Circus Circus Las Vegas and the adjacent land was repaid, prior to maturity, for $170 million, which approximated its carrying value on the date of repayment. As of December 31, 2022, the carrying value of the note receivable was $167 million and was recorded within “Other long-term assets, net” in the consolidated balance sheets.
Redeemable Noncontrolling Interest Policy	Redeemable noncontrolling interest. Certain noncontrolling interest parties have non-voting economic interests in MGM National Harbor which provide for annual preferred distributions by MGM National Harbor to the noncontrolling interest parties based on a percentage of its annual net gaming revenue (as defined in the MGM National Harbor operating agreement). Such distributions are accrued each quarter and are paid 90 days after the end of each fiscal year. The noncontrolling interest parties each have the ability to require MGM National Harbor to purchase all or a portion of their interests for a purchase price based on a contractually agreed upon formula. The Company has recorded the interests as “Redeemable noncontrolling interests” in the mezzanine section of the accompanying consolidated balance sheets and not stockholders’ equity because their redemption is not exclusively in the Company’s control. The interests were initially accounted for at fair value. Subsequently, the Company recognizes changes

BASIS OF PRESENTATION AND SIG_3

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Tables)	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Fair Value Measurements, Recurring and Nonrecurring	The following tables present information regarding the Company’s debt investments: Fair value level March 31, 2023 December 31, 2022 (In thousands) Cash and cash equivalents: Money market funds Level 1 $ 591 $ 12,009 Commercial paper and certificates of deposit Level 2 — 5,992 Cash and cash equivalents 591 18,001 Short-term investments: U.S. government securities Level 1 62,039 56,835 U.S. agency securities Level 2 28,928 9,530 Commercial paper and certificates of deposit Level 2 11,064 4,466 Corporate bonds Level 2 406,848 213,875 Short-term investments 508,879 284,706 Total debt investments $ 509,470 $ 302,707
Schedule of Contract and Contract - Related Liabilities	The following table summarizes the activity related to contract and contract-related liabilities: Outstanding Chip Liability Loyalty Program Customer Advances and Other 2023 2022 2023 2022 2023 2022 (In thousands) Balance at January 1 $ 185,669 $ 176,219 $ 183,602 $ 144,465 $ 816,376 $ 640,001 Balance at March 31 168,307 141,636 183,101 149,316 787,866 720,764 Increase / (decrease) $ (17,362) $ (34,583) $ (501) $ 4,851 $ (28,510) $ 80,763

ACQUISITIONS AND DIVESTITURES (

ACQUISITIONS AND DIVESTITURES (Tables)	3 Months Ended
	Mar. 31, 2023
Business Combination and Asset Acquisition [Abstract]
Schedule of Pro Forma Financial Information	The unaudited pro forma financial information below is not necessarily indicative of either future results of operations or results that might have been achieved had the acquisition been consummated as of the indicated date. Pro forma results of operations for the LeoVegas acquisition have not been included because it is not material to the consolidated results of operations. Three Months Ended 2022 (In thousands) Net revenues $ 3,119,738 Net income (loss) attributable to MGM Resorts International (1,854)
Disposal Groups, Including Discontinued Operations	The major classes of assets and liabilities derecognized are as follows: Gold Strike Tunica (In thousands) Cash and cash equivalents $ 26,911 Accounts receivable, net 2,466 Inventories 1,087 Prepaid expenses and other 1,522 Property and equipment, net 21,300 Goodwill 40,523 Other intangible assets, net 5,700 Operating lease right-of-use assets, net 507,231 Other long-term assets, net 1,251 Total assets $ 607,991 Accounts payable $ 1,657 Other accrued liabilities 13,778 Other long-term obligations 1,707 Operating lease liabilities 516,136 Total liabilities $ 533,278

INVESTMENTS IN AND ADVANCES T_2

INVESTMENTS IN AND ADVANCES TO UNCONSOLIDATED AFFILIATES (Tables)	3 Months Ended
	Mar. 31, 2023
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Investments in and Advances to Unconsolidated Affiliates	Investments in and advances to unconsolidated affiliates consisted of the following: March 31, December 31, (In thousands) BetMGM (50%) $ — $ 31,760 Other 153,856 141,279 $ 153,856 $ 173,039
Schedule of Share of Net Income (Loss) From Unconsolidated Affiliates	The Company recorded its share of loss from unconsolidated affiliates as follows: Three Months Ended 2023 2022 (In thousands) Loss from unconsolidated affiliates $ (74,999) $ (46,838) Non-operating items from unconsolidated affiliates (1,184) (15,133) $ (76,183) $ (61,971)
Schedule of Share of Income (Loss) From Unconsolidated Affiliates	The following table summarizes information related to the Company’s share of operating loss from unconsolidated affiliates: Three Months Ended 2023 2022 (In thousands) MGP BREIT Venture (through April 29, 2022) $ — $ 38,936 BetMGM (81,872) (91,993) Other 6,873 6,219 $ (74,999) $ (46,838)

GOODWILL AND OTHER INTANGIBLE_2

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)	3 Months Ended
	Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill and Other Intangible Assets	Goodwill and other intangible assets consisted of the following: March 31, December 31, (In thousands) Goodwill $ 5,024,905 $ 5,029,312 Indefinite-lived intangible assets: Trademarks $ 756,378 $ 754,431 Gaming rights and other 385,129 385,060 Total indefinite-lived intangible assets 1,141,507 1,139,491 Finite-lived intangible assets: MGM Grand Paradise gaming subconcession — 4,519,486 Less: Accumulated amortization — (4,519,486) — — Customer lists 284,937 283,232 Less: Accumulated amortization (71,914) (60,055) 213,023 223,177 Gaming rights 332,032 106,600 Less: Accumulated amortization (40,723) (33,316) 291,309 73,284 Technology and other 130,530 129,061 Less: Accumulated amortization (20,218) (13,761) 110,312 115,300 Total finite-lived intangible assets, net 614,644 411,761 Total other intangible assets, net $ 1,756,151 $ 1,551,252

LONG-TERM DEBT (Tables)

LONG-TERM DEBT (Tables)	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
Schedule of Long-Term Debt	Long-term debt consisted of the following: March 31, December 31, (In thousands) MGM China first revolving credit facility $ 879,003 $ 1,249,744 MGM China second revolving credit facility — 224,313 6% senior notes, due 2023 — 1,250,000 LeoVegas senior notes, due 2023 36,571 36,580 5.375% MGM China senior notes, due 2024 750,000 750,000 6.75% senior notes, due 2025 750,000 750,000 5.75% senior notes, due 2025 675,000 675,000 5.25% MGM China senior notes, due 2025 500,000 500,000 5.875% MGM China senior notes, due 2026 750,000 750,000 4.625% senior notes, due 2026 400,000 400,000 5.5% senior notes, due 2027 675,000 675,000 4.75% MGM China senior notes, due 2027 750,000 750,000 4.75% senior notes, due 2028 750,000 750,000 7% debentures, due 2036 552 552 6,916,126 8,761,189 Less: Premiums, discounts, and unamortized debt issuance costs, net (38,151) (41,899) 6,877,975 8,719,290 Less: Current portion (36,492) (1,286,473) $ 6,841,483 $ 7,432,817

LEASES (Tables)

LEASES (Tables)	3 Months Ended
	Mar. 31, 2023
Leases [Abstract]
Components of Lease Costs	Other information. Components of lease costs and other information related to the Company’s leases are: Three Months Ended 2023 2022 (In thousands) Operating lease cost, primarily classified within “General and administrative” (1) $ 580,988 $ 271,849 Finance lease costs Interest expense $ 1,414 $ 893 Amortization expense 17,526 20,157 Total finance lease costs $ 18,940 $ 21,050 Three Months Ended 2023 2022 Cash paid for amounts included in the measurement of lease liabilities (In thousands) Operating cash outflows from operating leases $ 453,480 $ 211,326 Operating cash outflows from finance leases 1,787 945 Financing cash outflows from finance leases (1) 21,119 22,649 ROU assets obtained in exchange for new lease liabilities Operating leases $ 4,581 $ 4,480 Finance leases — — (1) Included within “Other” within “Cash flows from financing activities” on the consolidated statements of cash flows.
Supplemental Balance Sheet Information Related to Leases	March 31, December 31, (In thousands) Operating leases Operating lease ROU assets, net (1) $ 24,403,384 $ 24,530,929 Operating lease liabilities - current, classified within “Other accrued liabilities” $ 56,866 $ 53,981 Operating lease liabilities - long-term (2) 25,145,321 25,149,299 Total operating lease liabilities $ 25,202,187 $ 25,203,280 Finance leases Finance lease ROU assets, net classified within “Property and equipment, net” $ 133,031 $ 150,571 Finance lease liabilities - current, classified within “Other accrued liabilities” $ 52,492 $ 72,420 Finance lease liabilities - long-term, classified within “Other long-term obligations” 87,530 88,181 Total finance lease liabilities $ 140,022 $ 160,601 Weighted average remaining lease term (years) Operating leases 26 26 Finance leases 15 14 Weighted average discount rate (%) Operating leases 7 7 Finance leases 5 5 (1) As of March 31, 2023 and December 31, 2022, operating lease right-of-use assets, net included $3.5 billion related to the Bellagio lease. (2) As of March 31, 2023 and December 31, 2022, operating lease liabilities – long-term included $3.8 billion related to the Bellagio lease.
Finance Lease Maturity	Maturities of lease liabilities were as follows: Operating Leases Finance Leases Year ending December 31, (In thousands) 2023 (excluding the three months ended March 31, 2023) $ 1,348,967 $ 56,396 2024 1,827,193 8,756 2025 1,856,510 8,255 2026 1,883,512 7,021 2027 839,733 6,992 Thereafter 51,965,891 135,187 Total future minimum lease payments 59,721,806 222,607 Less: Amount of lease payments representing interest (34,519,619) (82,585) Present value of future minimum lease payments 25,202,187 140,022 Less: Current portion (56,866) (52,492) Long-term portion of lease liabilities $ 25,145,321 $ 87,530
Operating Lease Maturity	Maturities of lease liabilities were as follows: Operating Leases Finance Leases Year ending December 31, (In thousands) 2023 (excluding the three months ended March 31, 2023) $ 1,348,967 $ 56,396 2024 1,827,193 8,756 2025 1,856,510 8,255 2026 1,883,512 7,021 2027 839,733 6,992 Thereafter 51,965,891 135,187 Total future minimum lease payments 59,721,806 222,607 Less: Amount of lease payments representing interest (34,519,619) (82,585) Present value of future minimum lease payments 25,202,187 140,022 Less: Current portion (56,866) (52,492) Long-term portion of lease liabilities $ 25,145,321 $ 87,530

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	3 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
Schedule of Diluted Weighted-Average Number of Common and Common Equivalent Shares Adjustments for Potential Dilution of Share-Based Awards Outstanding	The table below reconciles basic and diluted earnings per share of common stock. Diluted weighted-average common and common equivalent shares include adjustments for potential dilution of share-based awards outstanding under the Company’s stock compensation plan. Three Months Ended 2023 2022 Numerator: Net income (loss) attributable to MGM Resorts International $ 466,807 $ (18,016) Adjustment related to redeemable noncontrolling interests 1,297 (8,986) Net income (loss) attributable to common stockholders – basic and diluted $ 468,104 $ (27,002) Denominator: Weighted-average common shares outstanding – basic 374,085 442,916 Potential dilution from share-based awards 4,010 — Weighted-average common and common equivalent shares – diluted 378,095 442,916 Antidilutive share-based awards excluded from the calculation of diluted earnings per share 276 6,687

STOCKHOLDERS_ EQUITY (Tables)

STOCKHOLDERS’ EQUITY (Tables)	3 Months Ended
	Mar. 31, 2023
Equity [Abstract]
Schedule of Changes in Accumulated Other Comprehensive Loss Attributable to MGM Resorts International by Component	Changes in accumulated other comprehensive income attributable to MGM Resorts International are as follows: Currency Translation Adjustments Other Total (In thousands) Balances, January 1, 2023 $ 34,435 $ (936) $ 33,499 Other comprehensive loss before reclassifications (49) — (49) Amounts reclassified from accumulated other comprehensive income to "Other, net" — 871 871 Other comprehensive income (loss), net of tax (49) 871 822 Other comprehensive loss attributable to noncontrolling interest 2,487 — 2,487 Balances, March 31, 2023 $ 36,873 $ (65) $ 36,808

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	3 Months Ended
	Mar. 31, 2023
Segment Reporting [Abstract]
Schedule of Segment Information	The following tables present the Company’s segment information: Three Months Ended 2023 2022 (In thousands) Net revenue Las Vegas Strip Resorts Casino $ 500,563 $ 475,298 Rooms 751,691 485,288 Food and beverage 582,627 384,276 Entertainment, retail and other 341,271 318,030 2,176,152 1,662,892 Regional Operations Casino 716,977 703,679 Rooms 67,304 56,114 Food and beverage 111,879 91,138 Entertainment, retail and other, and reimbursed costs 49,683 39,898 945,843 890,829 MGM China Casino 555,272 231,203 Rooms 29,493 15,671 Food and beverage 27,625 17,441 Entertainment, retail and other 5,202 4,060 617,592 268,375 Reportable segment net revenues 3,739,587 2,822,096 Corporate and other 133,709 32,213 $ 3,873,296 $ 2,854,309 Three Months Ended 2023 2022 (In thousands) Adjusted Property EBITDAR Las Vegas Strip Resorts $ 835,809 $ 593,634 Regional Operations 313,175 313,279 MGM China 168,948 (25,656) Reportable segment Adjusted Property EBITDAR 1,317,932 881,257 Other operating income (expense) Corporate and other, net (211,669) (210,853) Preopening and start-up expenses (139) (434) Property transactions, net 396,076 (54,738) Depreciation and amortization (203,501) (288,638) Triple-net operating lease and ground lease rent expense (570,555) (262,452) Income from unconsolidated affiliates related to real estate ventures 2,695 41,646 Operating income 730,839 105,788 Non-operating income (expense) Interest expense, net of amounts capitalized (130,300) (196,091) Non-operating items from unconsolidated affiliates (1,184) (15,133) Other, net 46,307 34,302 (85,177) (176,922) Income (loss) before income taxes 645,662 (71,134) Benefit (provision) for income taxes (165,779) 36,341 Net income (loss) 479,883 (34,793) Less: Net (income) loss attributable to noncontrolling interests (13,076) 16,777 Net income (loss) attributable to MGM Resorts International $ 466,807 $ (18,016)

ORGANIZATION - Additional Infor

ORGANIZATION - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2023 property segment	Dec. 31, 2022
Organization Disclosure [Line Items]
Number of reportable segments | segment	3
BetMGM LLC
Organization Disclosure [Line Items]
Ownership interest (in percent)	50%	50%
BetMGM LLC | Entain plc
Organization Disclosure [Line Items]
Ownership interest (in percent)	50%
Japanese Joint Venture | JAPAN
Organization Disclosure [Line Items]
Ownership interest (in percent)	50%
MGM China
Organization Disclosure [Line Items]
Controlling interest (in percent)	56%
Number of integrated casino | property	2

BASIS OF PRESENTATION AND SIG_4

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES - Additional Information (Detail) - USD ($) $ in Thousands	1 Months Ended		3 Months Ended		12 Months Ended
	Apr. 30, 2023	Feb. 28, 2023	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Investments in and advances to unconsolidated affiliates			$ 153,856		$ 173,039
Percentage of ownership interest			100%
Fair value of investment			$ 460,000		461,000
Unrealized gain (loss) of equity investments			(1,000)	$ 15,000
Loss reserve for accounts receivable			125,000		113,000
Accrual for property and equipment within accounts payable			52,000		80,000
MGM National Harbor
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Payments for repurchase of redeemable noncontrolling interest			1,000	18,000
Subsequent Event | MGM National Harbor
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Payments for repurchase of redeemable noncontrolling interest	$ 137,000
Food and Beverage Revenue
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Lease revenue			18,000	14,000
Entertainment Retail and Other Revenue
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Lease revenue			30,000	$ 26,000
Circus Circus Las Vegas And Adjacent Land
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Repayment of note receivable		$ 170,000
Circus Circus Las Vegas And Adjacent Land | Other Noncurrent Assets
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Carrying value of note receivable					167,000
MGM Grand Paradise SA | June 2022 Sub Concession Extension Contract
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Obligation amount			$ 87,000		$ 124,000
Bellagio BREIT Venture
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Percentage of minority interest			5%
Bellagio BREIT Venture | Subsidiary of Blackstone Real Estate Income Trust
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Percentage of ownership interest			95%
Bellagio Blackstone Real Estate Income Trust
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Investments in and advances to unconsolidated affiliates			$ 56,000

BASIS OF PRESENTATION AND SIG_5

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES - Schedule of Debt Investments (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Debt and Equity Securities, FV-NI [Line Items]
Total debt investments	$ 509,470	$ 302,707
Cash and cash equivalents
Debt and Equity Securities, FV-NI [Line Items]
Total debt investments	591	18,001
Cash and cash equivalents | Level 1 | Money market funds
Debt and Equity Securities, FV-NI [Line Items]
Total debt investments	591	12,009
Cash and cash equivalents | Level 2 | Commercial paper and certificates of deposit
Debt and Equity Securities, FV-NI [Line Items]
Total debt investments	0	5,992
Short-term investments
Debt and Equity Securities, FV-NI [Line Items]
Total debt investments	508,879	284,706
Short-term investments | Level 1 | U.S. government securities
Debt and Equity Securities, FV-NI [Line Items]
Total debt investments	62,039	56,835
Short-term investments | Level 2 | Commercial paper and certificates of deposit
Debt and Equity Securities, FV-NI [Line Items]
Total debt investments	11,064	4,466
Short-term investments | Level 2 | U.S. agency securities
Debt and Equity Securities, FV-NI [Line Items]
Total debt investments	28,928	9,530
Short-term investments | Level 2 | Corporate bonds
Debt and Equity Securities, FV-NI [Line Items]
Total debt investments	$ 406,848	$ 213,875

BASIS OF PRESENTATION AND SIG_6

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES - Schedule of Contract and Contract - Related Liabilities (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Outstanding Chip Liability
Contract And Contract Related Liabilities [Roll Forward]
Balance at January 1	$ 185,669	$ 176,219
Balance at March 31	168,307	141,636
Increase / (decrease)	(17,362)	(34,583)
Loyalty Program
Contract And Contract Related Liabilities [Roll Forward]
Balance at January 1	183,602	144,465
Balance at March 31	183,101	149,316
Increase / (decrease)	(501)	4,851
Customer Advances and Other
Contract And Contract Related Liabilities [Roll Forward]
Balance at January 1	816,376	640,001
Balance at March 31	787,866	720,764
Increase / (decrease)	$ (28,510)	$ 80,763

ACQUISITIONS AND DIVESTITURES -

ACQUISITIONS AND DIVESTITURES - Additional Information (Details) $ / shares in Units, $ in Thousands

1 Months Ended

3 Months Ended

4 Months Ended

Feb. 15, 2023 USD ($)

Dec. 19, 2022 USD ($)

May 17, 2022 USD ($)

Apr. 29, 2022 USD ($) shares

Feb. 28, 2023 USD ($)

Dec. 31, 2022 USD ($)

Sep. 22, 2022 USD ($)

Jun. 30, 2023 USD ($)

Mar. 31, 2023 USD ($) commonStockClass

Mar. 31, 2022 USD ($)

Sep. 06, 2022 USD ($)

Sep. 07, 2022

May 02, 2022 kr / shares

Jul. 30, 2021 $ / shares

Schedule of Business Acquisitions and Disposals [Line Items]

Proceeds from sale of operating resorts

$ 452,824

$ 0

Disposal Group, Held-for-sale, Not Discontinued Operations | The Mirage

Schedule of Business Acquisitions and Disposals [Line Items]

Decrease in annual rent payments

$ 90,000

Disposal Group, Held-for-sale, Not Discontinued Operations | Gold Strike Tunica

Schedule of Business Acquisitions and Disposals [Line Items]

Decrease in annual rent payments

$ 40,000

VICI Properties, Inc

Schedule of Business Acquisitions and Disposals [Line Items]

Cash tender price

$ 4,400,000

Stock issued during period, issued for services (in shares) | shares

1.366

Operating partnership units received (in shares) | shares

1.366

Operating partnership units received (in shares)

1%

Ownership interest

$ 375,000

Affiliated Entity | Discontinued Operations, Disposed of by Sale | The Mirage

Schedule of Business Acquisitions and Disposals [Line Items]

Proceeds from sale of operating resorts

$ 1,075,000

Decrease in annual rent payments

90,000

Consideration received from sale of discontinued operations

$ 1,100,000

CNE | Disposal Group, Held-for-sale, Not Discontinued Operations | Gold Strike Tunica

Schedule of Business Acquisitions and Disposals [Line Items]

Proceeds from sale of operating resorts

$ 450,000

Decrease in annual rent payments

40,000

Gain (loss) on sale of real estate assets

398,000

Consideration received from sale of discontinued operations

473,000

Carrying value of assets and liabilities and comprehensive income

$ 75,000

MGM Grand Las Vegas and Mandalay Bay Transaction

Schedule of Business Acquisitions and Disposals [Line Items]

Number of classes of common stock | commonStockClass

2

Ownership interest (in percent)

50.10%

LeoVegas

Schedule of Business Acquisitions and Disposals [Line Items]

Shares tendered (in percent)

1

Tender offer price (in krona per share) | kr / shares

kr 61

Ownership interest acquired (in percent)

2%

65%

Cash tender price

$ 370,000

Operating partnership equity interest (in percent)

31%

Equity interests issued and issuable

$ 172,000

LeoVegas | Subsequent Event

Schedule of Business Acquisitions and Disposals [Line Items]

Remaining outstanding shares, fair value

$ 11,000

Cosmopolitan of Las Vegas

Schedule of Business Acquisitions and Disposals [Line Items]

Ownership interest acquired (in percent)

100%

Cash tender price

$ 1,700,000

Cash consideration for acquisition

$ 1,625,000

MGP | VICI Properties, Inc

Schedule of Business Acquisitions and Disposals [Line Items]

Fixed exchange ratio (in dollars per share) | $ / shares

$ 43

ACQUISITIONS AND DIVESTITURES_2

ACQUISITIONS AND DIVESTITURES - Pro Forma Financial Information (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022 USD ($)
Business Combination and Asset Acquisition [Abstract]
Net revenues	$ 3,119,738
Net income (loss) attributable to MGM Resorts International	$ (1,854)

ACQUISITIONS AND DIVESTITURES_3

ACQUISITIONS AND DIVESTITURES - Assets and Liabilities Derecognized and Classified as Held for Sale (Details) - Disposal Group, Held-for-sale, Not Discontinued Operations - Gold Strike Tunica $ in Thousands	Feb. 15, 2023 USD ($)
Assets
Cash and cash equivalents	$ 26,911
Accounts receivable, net	2,466
Inventories	1,087
Prepaid expenses and other	1,522
Property and equipment, net	21,300
Goodwill	40,523
Other intangible assets, net	5,700
Operating lease right-of-use assets, net	507,231
Other long-term assets, net	1,251
Total assets and assets held for sale	607,991
Liabilities
Accounts payable	1,657
Other accrued liabilities	13,778
Other long-term obligations	1,707
Operating lease liabilities	516,136
Total liabilities and liabilities related to assets held for sale	$ 533,278

INVESTMENTS IN AND ADVANCES T_3

INVESTMENTS IN AND ADVANCES TO UNCONSOLIDATED AFFILIATES - Schedule of Investments in and Advances to Unconsolidated Affiliates (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Schedule Of Equity Method Investments [Line Items]
Investments in and advances to unconsolidated affiliates	$ 153,856	$ 173,039
BetMGM
Schedule Of Equity Method Investments [Line Items]
Ownership interest (in percent)	50%	50%
Investments in and advances to unconsolidated affiliates	$ 0	$ 31,760
Other
Schedule Of Equity Method Investments [Line Items]
Investments in and advances to unconsolidated affiliates	$ 153,856	$ 141,279

INVESTMENTS IN AND ADVANCES T_4

INVESTMENTS IN AND ADVANCES TO UNCONSOLIDATED AFFILIATES - Schedule of Share of Net Income (Loss) From Unconsolidated Affiliates (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Equity Method Investments and Joint Ventures [Abstract]
Loss from unconsolidated affiliates	$ (74,999)	$ (46,838)
Non-operating items from unconsolidated affiliates	(1,184)	(15,133)
Net income from unconsolidated affiliates	$ (76,183)	$ (61,971)

INVESTMENTS IN AND ADVANCES T_5

INVESTMENTS IN AND ADVANCES TO UNCONSOLIDATED AFFILIATES - Schedule of Share of Income (Loss) From Unconsolidated Affiliates (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Schedule Of Equity Method Investments [Line Items]
Loss from unconsolidated affiliates	$ (74,999)	$ (46,838)
MGP BREIT Venture (through April 29, 2022)
Schedule Of Equity Method Investments [Line Items]
Loss from unconsolidated affiliates	0	38,936
BetMGM
Schedule Of Equity Method Investments [Line Items]
Loss from unconsolidated affiliates	(81,872)	(91,993)
Other
Schedule Of Equity Method Investments [Line Items]
Loss from unconsolidated affiliates	$ 6,873	$ 6,219

INVESTMENTS IN AND ADVANCES T_6

INVESTMENTS IN AND ADVANCES TO UNCONSOLIDATED AFFILIATES - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Schedule Of Equity Method Investments [Line Items]
Distributions from unconsolidated affiliates	$ 1,315	$ 25,444
BetMGM LLC
Schedule Of Equity Method Investments [Line Items]
Equity method investment	24,000
Contributions to unconsolidated affiliates	$ 25,000	125,000
MGP BREIT Venture (through April 29, 2022)
Schedule Of Equity Method Investments [Line Items]
Distributions from unconsolidated affiliates		$ 24,000

GOODWILL AND OTHER INTANGIBLE_3

GOODWILL AND OTHER INTANGIBLE ASSETS - Schedule of Goodwill and Other Intangible Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Jan. 01, 2023	Dec. 31, 2022
Goodwill And Intangible Assets [Line Items]
Goodwill	$ 5,024,905		$ 5,029,312
Total indefinite-lived intangible assets	1,141,507		1,139,491
Finite-lived intangible assets, net	614,644		411,761
Other intangible assets, net	1,756,151		1,551,252
Gaming Subconcession | M G M Grand Paradise
Goodwill And Intangible Assets [Line Items]
Finite-lived intangible assets, gross	0		4,519,486
Less: Accumulated amortization	0		(4,519,486)
Finite-lived intangible assets, net	0		0
Customer lists
Goodwill And Intangible Assets [Line Items]
Finite-lived intangible assets, gross	284,937		283,232
Less: Accumulated amortization	(71,914)		(60,055)
Finite-lived intangible assets, net	213,023		223,177
Gaming rights
Goodwill And Intangible Assets [Line Items]
Finite-lived intangible assets, gross	332,032		106,600
Less: Accumulated amortization	(40,723)		(33,316)
Finite-lived intangible assets, net	291,309		73,284
Technology and other
Goodwill And Intangible Assets [Line Items]
Finite-lived intangible assets, gross	130,530		129,061
Less: Accumulated amortization	(20,218)		(13,761)
Finite-lived intangible assets, net	110,312		115,300
Gaming Concession | M G M Grand Paradise
Goodwill And Intangible Assets [Line Items]
Finite-lived intangible assets, gross		$ 226,000
Trademarks
Goodwill And Intangible Assets [Line Items]
Total indefinite-lived intangible assets	756,378		754,431
Gaming rights and other
Goodwill And Intangible Assets [Line Items]
Total indefinite-lived intangible assets	$ 385,129		$ 385,060

GOODWILL AND OTHER INTANGIBLE_4

GOODWILL AND OTHER INTANGIBLE ASSETS - Additional Information (Details) - Gaming Concession - M G M Grand Paradise - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Jan. 01, 2023
Finite-Lived Intangible Assets [Line Items]
Carrying value		$ 226
Amortization period (in years)	10 years
Other Current Liabilities
Finite-Lived Intangible Assets [Line Items]
Carrying value	$ 7
Other Noncurrent Liabilities
Finite-Lived Intangible Assets [Line Items]
Carrying value	$ 211

LONG-TERM DEBT - Schedule of Lo

LONG-TERM DEBT - Schedule of Long-Term Debt (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Long-term debt, gross	$ 6,916,126	$ 8,761,189
Less: Premiums, discounts, and unamortized debt issuance costs, net	(38,151)	(41,899)
Long-term debt	6,877,975	8,719,290
Less: Current portion	(36,492)	(1,286,473)
Long-term debt, net	$ 6,841,483	7,432,817
6% senior notes, due 2023
Debt Instrument [Line Items]
Long-term debt, interest rate (in percent)	6%
Senior notes	$ 0	1,250,000
5.375% MGM China senior notes, due 2024
Debt Instrument [Line Items]
Long-term debt, interest rate (in percent)	5.375%
Senior notes	$ 750,000	750,000
6.75% senior notes, due 2025
Debt Instrument [Line Items]
Long-term debt, interest rate (in percent)	6.75%
Senior notes	$ 750,000	750,000
5.75% senior notes, due 2025
Debt Instrument [Line Items]
Long-term debt, interest rate (in percent)	5.75%
Senior notes	$ 675,000	675,000
5.25% MGM China senior notes, due 2025
Debt Instrument [Line Items]
Long-term debt, interest rate (in percent)	5.25%
Senior notes	$ 500,000	500,000
5.875% MGM China senior notes, due 2026
Debt Instrument [Line Items]
Long-term debt, interest rate (in percent)	5.875%
Senior notes	$ 750,000	750,000
4.625% senior notes, due 2026
Debt Instrument [Line Items]
Long-term debt, interest rate (in percent)	4.625%
Senior notes	$ 400,000	400,000
5.5% senior notes, due 2027
Debt Instrument [Line Items]
Long-term debt, interest rate (in percent)	5.50%
Senior notes	$ 675,000	675,000
4.75% MGM China senior notes, due 2027
Debt Instrument [Line Items]
Long-term debt, interest rate (in percent)	4.75%
Senior notes	$ 750,000	750,000
4.75% senior notes, due 2028
Debt Instrument [Line Items]
Long-term debt, interest rate (in percent)	4.75%
Senior notes	$ 750,000	750,000
7% debentures, due 2036
Debt Instrument [Line Items]
Long-term debt, interest rate (in percent)	7%
Senior notes	$ 552	552
MGM China first revolving credit facility
Debt Instrument [Line Items]
Long-term debt, gross	879,003	1,249,744
MGM China second revolving credit facility
Debt Instrument [Line Items]
Long-term debt, gross	0	224,313
LeoVegas senior notes, due 2023
Debt Instrument [Line Items]
Senior notes	$ 36,571	$ 36,580

LONG-TERM DEBT - Additional Inf

LONG-TERM DEBT - Additional Information (Detail) $ in Millions		1 Months Ended	3 Months Ended
	Mar. 01, 2023 USD ($)	Mar. 31, 2022 USD ($)	Mar. 31, 2023 USD ($)	Mar. 31, 2022 USD ($)	Mar. 31, 2023 HKD ($)	Dec. 31, 2022 USD ($)
Debt Instrument [Line Items]
Redemption of debt			$ 1,250,000,000	$ 1,000,000,000
Long-term debt, fair value			$ 6,600,000,000			$ 8,400,000,000
6% senior notes, due 2023
Debt Instrument [Line Items]
Redemption of debt	$ 1,250,000,000
Long-term debt, interest rate (in percent)			6%		6%
Senior Notes Seven Point Seven Five Due Two Thousand Twenty Two
Debt Instrument [Line Items]
Redemption of debt		$ 1,000,000,000
Long-term debt, interest rate (in percent)		7.75%		7.75%
Revolving Credit Facility | Senior Credit Facility
Debt Instrument [Line Items]
Line of credit facility			$ 1,675,000,000
Line of credit facility drawn			$ 0
Term Loan | MGM China first revolving credit facility
Debt Instrument [Line Items]
Line of credit facility drawn					$ 9,750
Debt instrument, weighted average interest rate (in percent)			5.51%		5.51%
Unsecured Revolving Credit Facility | MGM China second revolving credit facility
Debt Instrument [Line Items]
Line of credit facility					$ 3,120
Line of credit facility drawn			$ 0
Line of credit facility, current borrowing capacity					$ 3,900

INCOME TAXES - Additional Infor

INCOME TAXES - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Effective income tax rate provision (benefit)	25.70%	(51.10%)

LEASES - Additional Information

LEASES - Additional Information (Detail) $ in Millions

1 Months Ended

3 Months Ended

May 01, 2023 USD ($)

Mar. 01, 2023 USD ($)

Dec. 01, 2022 USD ($)

Oct. 01, 2022 USD ($)

May 17, 2022 USD ($) agreement

Apr. 29, 2022 USD ($) agreement

Sep. 28, 2021 agreement

Feb. 14, 2020 agreement

Nov. 15, 2019 agreement

Feb. 28, 2023 USD ($)

Dec. 31, 2022 USD ($)

Mar. 31, 2023 debt_instrument

Lessee, Lease, Description [Line Items]

Number of letters of credit | debt_instrument

1

Disposal Group, Held-for-sale, Not Discontinued Operations | The Mirage

Lessee, Lease, Description [Line Items]

Decrease in annual rent payments

$ 90

Disposal Group, Held-for-sale, Not Discontinued Operations | Gold Strike Tunica

Lessee, Lease, Description [Line Items]

Decrease in annual rent payments

$ 40

Right-of-use assets derecognized upon lease modification

507

Lease liabilities derecognized upon lease modification

516

Aria and Vdara

Lessee, Lease, Description [Line Items]

Lease agreement initial lease term

30 years

Number of renewal periods, exercisable at option | agreement

3

Lease agreement renewal period

15 years

Lessee, operating lease, annual rent expense

$ 219

Lease agreement renewal period

10 years

Annual rent escalator after year fifteen

2%

Annual rent escalator cap after year fifteen

3%

Fixed rent escalator for fifteen years

2%

Cosmopolitan of Las Vegas

Lessee, Lease, Description [Line Items]

Lease agreement initial lease term

30 years

Number of renewal periods, exercisable at option | agreement

3

Lease agreement renewal period

15 years

Lessee, operating lease, annual rent expense

$ 200

Lease agreement renewal period

10 years

Annual rent escalator after year fifteen

2%

Annual rent escalator cap after year fifteen

3%

Fixed rent escalator for fifteen years

2%

VICI Lease and Ground Subleases

Lessee, Lease, Description [Line Items]

Lease agreement initial lease term

25 years

Number of renewal periods, exercisable at option | agreement

3

Annual rent escalator from year one through year ten

2%

Lease agreement renewal period

10 years

Lessee, operating lease, annual rent expense

$ 860

$ 730

$ 770

Lease agreement renewal period

10 years

Annual rent escalator after year ten

2%

Annual rent escalator cap after year ten

3%

VICI Lease and Ground Subleases | Subsequent Event

Lessee, Lease, Description [Line Items]

Lessee, operating lease, annual rent expense

$ 745

Mandalay Bay and MGM Grand Las Vegas

Lessee, Lease, Description [Line Items]

Term of covenant

1 year

Lease agreement initial lease term

30 years

Number of renewal periods, exercisable at option | agreement

2

Lease agreement renewal period

15 years

Lessee, operating lease, annual rent expense

$ 310

Lease agreement renewal period

10 years

Annual rent escalator from year one through year fifteen

2%

Annual rent escalator after year fifteen

2%

Annual rent escalator cap after year fifteen

3%

Aria and Vdara

Lessee, Lease, Description [Line Items]

Term of covenant

1 year

Cosmopolitan of Las Vegas

Lessee, Lease, Description [Line Items]

Term of covenant

1 year

Bellagio Lease

Lessee, Lease, Description [Line Items]

Term of covenant

2 years

Lease agreement initial lease term

30 years

Number of renewal periods, exercisable at option | agreement

2

Lessor, operating lease, renewal term

10 years

Annual rent escalator from year one through year ten

2%

Lease agreement renewal period

10 years

Annual rent escalator from year eleven through year twenty

2%

Annual rent escalator cap from year eleven through year twenty

3%

Annual rent escalator after year twenty

4%

Lessee, operating lease, annual rent expense

$ 260

M G M Cotai

Lessee, Lease, Description [Line Items]

Lease agreement initial lease term

25 years

Lease agreement renewal period

10 years

M G M Macau

Lessee, Lease, Description [Line Items]

Lease agreement initial lease term

25 years

Lease agreement renewal period

10 years

Minimum | VICI Lease and Ground Subleases

Lessee, Lease, Description [Line Items]

Term of covenant

6 months

Maximum | VICI Lease and Ground Subleases

Lessee, Lease, Description [Line Items]

Term of covenant

1 year

LEASES - Schedule of Components

LEASES - Schedule of Components of Lease Costs (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Leases [Line Items]
Operating lease cost, primarily classified within "General and administrative"	$ 580,988	$ 271,849
Interest expense	1,414	893
Amortization expense	17,526	20,157
Total finance lease costs	18,940	21,050
Bellagio
Leases [Line Items]
Operating lease cost, primarily classified within "General and administrative"	$ 83,000	$ 83,000

LEASES - Schedule of Supplement

LEASES - Schedule of Supplemental Balance Sheet Information Related to Leases (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Operating leases
Operating lease right-of-use assets, net	$ 24,403,384	$ 24,530,929
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Other accrued liabilities	Other accrued liabilities
Operating lease liabilities - current, classified within “Other accrued liabilities”	$ 56,866	$ 53,981
Operating lease liabilities - long-term	25,145,321	25,149,299
Total operating lease liabilities	$ 25,202,187	$ 25,203,280
Finance leases
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Property and equipment, net	Property and equipment, net
Finance lease ROU assets, net classified within “Property and equipment, net”	$ 133,031	$ 150,571
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Other accrued liabilities	Other accrued liabilities
Finance lease liabilities - current, classified within “Other accrued liabilities”	$ 52,492	$ 72,420
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other long-term obligations	Other long-term obligations
Finance lease liabilities - long-term, classified within “Other long-term obligations”	$ 87,530	$ 88,181
Total finance lease liabilities	$ 140,022	$ 160,601
Weighted average remaining lease term (years)
Operating leases	26 years	26 years
Finance leases	15 years	14 years
Weighted average discount rate (%)
Operating leases	7%	7%
Finance leases	5%	5%
Bellagio
Operating leases
Operating lease right-of-use assets, net	$ 3,500,000	$ 3,500,000
Operating lease liabilities - long-term	$ 3,800,000	$ 3,800,000

LEASES - Schedule of Cash Paid

LEASES - Schedule of Cash Paid for Amounts Included in Measurement of Lease Liabilities and ROU Assets Obtained in Exchange for New Lease Liabilities (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Cash paid for amounts included in the measurement of lease liabilities
Operating cash outflows from operating leases	$ 453,480	$ 211,326
Operating cash outflows from finance leases	1,787	945
Financing cash outflows from finance leases	21,119	22,649
ROU assets obtained in exchange for new lease liabilities
Operating leases	4,581	4,480
Finance leases	$ 0	$ 0

LEASES - Schedule of Maturities

LEASES - Schedule of Maturities of Lease Liabilities (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Operating Leases
2023 (excluding the three months ended March 31, 2023)	$ 1,348,967
2024	1,827,193
2025	1,856,510
2026	1,883,512
2027	839,733
Thereafter	51,965,891
Total future minimum lease payments	59,721,806
Less: Amount of lease payments representing interest	(34,519,619)
Total operating lease liabilities	25,202,187	$ 25,203,280
Less: Current portion	(56,866)	(53,981)
Long-term portion of lease liabilities	25,145,321	25,149,299
Finance Leases
2023 (excluding the three months ended March 31, 2023)	56,396
2024	8,756
2025	8,255
2026	7,021
2027	6,992
Thereafter	135,187
Total future minimum lease payments	222,607
Less: Amount of lease payments representing interest	(82,585)
Total finance lease liabilities	140,022	160,601
Less: Current portion	(52,492)	(72,420)
Long-term portion of lease liabilities	$ 87,530	$ 88,181

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Detail) MOP$ in Millions	1 Months Ended
	Jan. 31, 2023 USD ($)	Mar. 31, 2023 USD ($)	Mar. 31, 2023 MOP (MOP$)	Jan. 31, 2023 MOP (MOP$)	Dec. 31, 2022 USD ($)	Dec. 31, 2022 MOP (MOP$)
Loss Contingencies [Line Items]
Long-term debt, gross		$ 6,916,126,000			$ 8,761,189,000
Blackstone real estate income trust
Loss Contingencies [Line Items]
Obligation amount		3,010,000,000
Mandalay Bay and MGM Grand Las Vegas
Loss Contingencies [Line Items]
Obligation amount		3,000,000,000
MGM Grand Paradise SA | January 2023 Concessions
Loss Contingencies [Line Items]
Obligation amount	$ 124,000,000	87,000,000	MOP$ 700	MOP$ 1000	$ 124,000,000	MOP$ 1000
Guarantee expiration, days after the end of the concession term	180 days
Released pledged cash		300,000,000
Senior Credit Facility
Loss Contingencies [Line Items]
Credit facility outstanding		29,000,000
Revolving Credit Facility
Loss Contingencies [Line Items]
Long-term debt, gross		$ 1,350,000,000

EARNINGS PER SHARE - Schedule o

EARNINGS PER SHARE - Schedule of Diluted Weighted-Average Number of Common and Common Equivalent Shares Adjustments for Potential Dilution of Share-Based Awards Outstanding (Detail) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Numerator:
Net income (loss) attributable to MGM Resorts International	$ 466,807	$ (18,016)
Adjustment related to redeemable noncontrolling interests	1,297	(8,986)
Net income (loss) attributable to common stockholders, basic	468,104	(27,002)
Net income (loss) attributable to common stockholders, diluted	$ 468,104	$ (27,002)
Denominator:
Weighted-average common shares outstanding – basic (in shares)	374,085	442,916
Potential dilution from share-based awards (in shares)	4,010	0
Weighted-average common and common equivalent shares – diluted (in shares)	378,095	442,916
Antidilutive share-based awards excluded from the calculation of diluted earnings per share (in shares)	276	6,687

STOCKHOLDERS_ EQUITY - Addition

STOCKHOLDERS’ EQUITY - Additional Information (Detail) - USD ($)	1 Months Ended		3 Months Ended
	May 01, 2023	Feb. 28, 2022	Mar. 31, 2023	Mar. 31, 2022	Feb. 28, 2023
Schedule Of Stockholders Equity Note [Line Items]
Repurchases of common stock			$ 486,869,000	$ 1,001,972,000
Common Stock
Schedule Of Stockholders Equity Note [Line Items]
Repurchases of common stock (in shares)			11,920,000	23,346,000
Repurchases of common stock			$ 120,000	$ 233,000
Share Repurchase Program Three | Common Stock
Schedule Of Stockholders Equity Note [Line Items]
Authorized amount of stock repurchase				$ 2,000,000,000
Repurchase of common stock, remaining amount			$ 2,000,000,000
Share Repurchase Program Two | Common Stock
Schedule Of Stockholders Equity Note [Line Items]
Authorized amount of stock repurchase					$ 2,000,000,000
Share Repurchase Program | Common Stock
Schedule Of Stockholders Equity Note [Line Items]
Repurchases of common stock (in shares)			12,000,000	23,000,000
Repurchases of common stock			$ 487,000,000	$ 1,000,000,000
Share Repurchase Program | Common Stock | Subsequent Event
Schedule Of Stockholders Equity Note [Line Items]
Repurchases of common stock (in shares)	4,000,000
Repurchases of common stock	$ 172,000,000
Share Repurchase Program | Common Stock | Corvex Management LP
Schedule Of Stockholders Equity Note [Line Items]
Repurchases of common stock (in shares)		4,500,000
Repurchases of common stock		$ 202,500,000

STOCKHOLDERS_ EQUITY - Schedule

STOCKHOLDERS’ EQUITY - Schedule of Changes in Accumulated Other Comprehensive Loss Attributable to MGM Resorts International by Component (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ 5,210,123	$ 10,976,766
Other comprehensive income	822	18,065
Ending balance	5,222,103	$ 9,879,624
Currency Translation Adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	34,435
Other comprehensive loss before reclassifications	(49)
Amounts reclassified from accumulated other comprehensive income to "Other, net"	0
Other comprehensive income	(49)
Other comprehensive loss attributable to noncontrolling interest	2,487
Ending balance	36,873
Other
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(936)
Other comprehensive loss before reclassifications	0
Amounts reclassified from accumulated other comprehensive income to "Other, net"	871
Other comprehensive income	871
Other comprehensive loss attributable to noncontrolling interest	0
Ending balance	(65)
Total
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	33,499
Other comprehensive loss before reclassifications	(49)
Amounts reclassified from accumulated other comprehensive income to "Other, net"	871
Other comprehensive income	822
Other comprehensive loss attributable to noncontrolling interest	2,487
Ending balance	$ 36,808

SEGMENT INFORMATION - Schedule

SEGMENT INFORMATION - Schedule of Segment Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenues
Total revenue	$ 3,873,296	$ 2,854,309
Other operating income (expense)
Preopening and start-up expenses	(139)	(434)
Property transactions, net	396,076	(54,738)
Depreciation and amortization	(203,501)	(288,638)
Triple-net operating lease and ground lease rent expense	(570,555)	(262,452)
Income from unconsolidated affiliates related to real estate ventures	2,695	41,646
Operating income	730,839	105,788
Non-operating income (expense)
Interest expense, net of amounts capitalized	(130,300)	(196,091)
Non-operating items from unconsolidated affiliates	(1,184)	(15,133)
Other, net	46,307	34,302
Non-operating income (expense)	(85,177)	(176,922)
Income (loss) before income taxes	645,662	(71,134)
Benefit (provision) for income taxes	(165,779)	36,341
Net income (loss)	479,883	(34,793)
Less: Net (income) loss attributable to noncontrolling interests	(13,076)	16,777
Net income (loss) attributable to MGM Resorts International	466,807	(18,016)
Reportable segments
Revenues
Total revenue	3,739,587	2,822,096
Adjusted Property EBITDAR
Reportable segment Adjusted Property EBITDAR	1,317,932	881,257
Reportable segments | Las Vegas Strip Resorts
Revenues
Total revenue	2,176,152	1,662,892
Adjusted Property EBITDAR
Reportable segment Adjusted Property EBITDAR	835,809	593,634
Reportable segments | Regional Operations
Revenues
Total revenue	945,843	890,829
Adjusted Property EBITDAR
Reportable segment Adjusted Property EBITDAR	313,175	313,279
Reportable segments | MGM China
Revenues
Total revenue	617,592	268,375
Adjusted Property EBITDAR
Reportable segment Adjusted Property EBITDAR	168,948	(25,656)
Corporate and other
Revenues
Total revenue	133,709	32,213
Other operating income (expense)
Corporate and other, net	(211,669)	(210,853)
Casino
Revenues
Total revenue	1,882,428	1,420,910
Casino | Reportable segments | Las Vegas Strip Resorts
Revenues
Total revenue	500,563	475,298
Casino | Reportable segments | Regional Operations
Revenues
Total revenue	716,977	703,679
Casino | Reportable segments | MGM China
Revenues
Total revenue	555,272	231,203
Rooms
Revenues
Total revenue	848,488	557,073
Rooms | Reportable segments | Las Vegas Strip Resorts
Revenues
Total revenue	751,691	485,288
Rooms | Reportable segments | Regional Operations
Revenues
Total revenue	67,304	56,114
Rooms | Reportable segments | MGM China
Revenues
Total revenue	29,493	15,671
Food and beverage
Revenues
Total revenue	722,131	492,854
Food and beverage | Reportable segments | Las Vegas Strip Resorts
Revenues
Total revenue	582,627	384,276
Food and beverage | Reportable segments | Regional Operations
Revenues
Total revenue	111,879	91,138
Food and beverage | Reportable segments | MGM China
Revenues
Total revenue	27,625	17,441
Entertainment, retail and other
Revenues
Total revenue	409,578	371,566
Entertainment, retail and other | Reportable segments | Las Vegas Strip Resorts
Revenues
Total revenue	341,271	318,030
Entertainment, retail and other | Reportable segments | MGM China
Revenues
Total revenue	5,202	4,060
Entertainment, retail and other, and reimbursed costs | Reportable segments | Regional Operations
Revenues
Total revenue	$ 49,683	$ 39,898

RELATED PARTY TRANSACTIONS - Ad

RELATED PARTY TRANSACTIONS - Additional Information (Detail) - USD ($) $ in Millions	Apr. 01, 2022	Mar. 31, 2022	Mar. 31, 2023
Bellagio BREIT Venture
Related Party Transaction [Line Items]
Percentage of minority interest			5%
Master Lease
Related Party Transaction [Line Items]
Annual rent payments	$ 877	$ 873
Fixed annual rent escalator percentage	2%
Increase in annual rent payments	$ 16
Decrease in annual rent payments	$ 12
Term to reset rent payments	5 years