Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
In Billions, except Share data, unless otherwise specified | Dec. 31, 2013 | Feb. 21, 2014 | Jun. 30, 2013 |
Document And Entity Information [Abstract] | ' | ' | ' |
Document Type | '10-K | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Trading Symbol | 'MGM | ' | ' |
Entity Registrant Name | 'MGM Resorts International | ' | ' |
Entity Central Index Key | '0000789570 | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Well-known Seasoned Issuer | 'Yes | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Filer Category | 'Large Accelerated Filer | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 490,430,177 | ' |
Entity Public Float | ' | ' | $4.20 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Current assets | ' | ' |
Cash and cash equivalents | $1,803,669 | $1,543,509 |
Accounts receivable, net | 488,217 | 443,677 |
Inventories | 107,907 | 107,577 |
Deferred income taxes, net | 80,989 | 179,431 |
Prepaid expenses and other | 238,657 | 232,898 |
Total current assets | 2,719,439 | 2,507,092 |
Property and equipment, net | 14,055,212 | 14,194,652 |
Other assets | ' | ' |
Investments in and advances to unconsolidated affiliates | 1,374,836 | 1,444,547 |
Goodwill | 2,897,442 | 2,902,847 |
Other intangible assets, net | 4,511,861 | 4,737,833 |
Other long-term assets, net | 551,395 | 497,767 |
Total other assets | 9,335,534 | 9,582,994 |
Total assets | 26,110,185 | 26,284,738 |
Current liabilities | ' | ' |
Accounts payable | 241,192 | 199,620 |
Income taxes payable | 14,813 | 1,350 |
Accrued interest on long-term debt | 188,522 | 206,736 |
Other accrued liabilities | 1,770,801 | 1,517,965 |
Total current liabilities | 2,215,328 | 1,925,671 |
Deferred income taxes | 2,430,414 | 2,473,889 |
Long-term debt | 13,447,230 | 13,589,283 |
Other long-term obligations | 141,590 | 179,879 |
Commitments and contingencies (Note 11) | ' | ' |
Stockholders' equity | ' | ' |
Common stock, $.01 par value: authorized 1,000,000,000 shares; issued and outstanding 490,360,628 and 489,234,401 shares | 4,904 | 4,892 |
Capital in excess of par value | 4,156,680 | 4,132,655 |
Retained earnings | 57,092 | 213,698 |
Accumulated other comprehensive income | 12,503 | 14,303 |
Total MGM Resorts International stockholders' equity | 4,231,179 | 4,365,548 |
Noncontrolling interests | 3,644,444 | 3,750,468 |
Total stockholders' equity | 7,875,623 | 8,116,016 |
Total liabilities and stockholders' equity | $26,110,185 | $26,284,738 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Statement Of Financial Position [Abstract] | ' | ' |
Common stock, par value (in dollars per share) | $0.01 | $0.01 |
Common stock, authorized shares | 1,000,000,000 | 1,000,000,000 |
Common stock, issued shares | 490,360,628 | 489,234,401 |
Common stock, outstanding shares | 490,360,628 | 489,234,401 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Revenues | ' | ' | ' |
Casino | $5,875,782 | $5,319,489 | $4,002,985 |
Rooms | 1,646,303 | 1,588,770 | 1,547,765 |
Food and beverage | 1,469,582 | 1,472,382 | 1,425,428 |
Entertainment | 522,911 | 483,946 | 514,883 |
Retail | 194,602 | 196,938 | 204,806 |
Other | 490,349 | 482,547 | 485,661 |
Reimbursed costs | 364,664 | 357,597 | 351,207 |
Total revenues, gross | 10,564,193 | 9,901,669 | 8,532,735 |
Less: Promotional allowances | -754,530 | -740,825 | -683,423 |
Total revenues, net | 9,809,663 | 9,160,844 | 7,849,312 |
Expenses | ' | ' | ' |
Casino | 3,684,810 | 3,396,752 | 2,515,279 |
Rooms | 516,605 | 507,856 | 485,751 |
Food and beverage | 844,431 | 844,629 | 829,018 |
Entertainment | 386,252 | 356,934 | 375,559 |
Retail | 107,249 | 112,732 | 124,063 |
Other | 354,705 | 344,782 | 345,484 |
Reimbursed costs | 364,664 | 357,597 | 351,207 |
General and administrative | 1,278,450 | 1,239,774 | 1,182,505 |
Corporate expense | 216,745 | 235,007 | 174,971 |
Preopening and start-up expenses | 13,314 | 2,127 | -316 |
Property transactions, net | 124,761 | 708,049 | 178,598 |
Gain on MGM China transaction | ' | ' | -3,496,005 |
Depreciation and amortization | 849,225 | 927,697 | 817,146 |
Total expenses | 8,741,211 | 9,033,936 | 3,883,260 |
Income (loss) from unconsolidated affiliates | 43,060 | -46,382 | 91,094 |
Operating income | 1,111,512 | 80,526 | 4,057,146 |
Non-operating expense | ' | ' | ' |
Interest expense, net of amounts capitalized | -857,347 | -1,116,358 | -1,086,832 |
Non-operating items from unconsolidated affiliates | -157,338 | -90,020 | -119,013 |
Other, net | -9,062 | -608,361 | -19,670 |
Total non-operating income (expense) | -1,023,747 | -1,814,739 | -1,225,515 |
Income (loss) before income taxes | 87,765 | -1,734,213 | 2,831,631 |
Benefit (provision) for income taxes | -31,263 | 117,301 | 403,313 |
Net income (loss) | 56,502 | -1,616,912 | 3,234,944 |
Less: Net income attributable to noncontrolling interests | -213,108 | -150,779 | -120,307 |
Net income (loss) attributable to MGM Resorts International | ($156,606) | ($1,767,691) | $3,114,637 |
Net income (loss) per share of common stock attributable to MGM Resorts International | ' | ' | ' |
Basic | ($0.32) | ($3.62) | $6.37 |
Diluted | ($0.32) | ($3.62) | $5.62 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (Loss) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Statement Of Income And Comprehensive Income [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income (loss) | $40,877 | $23,625 | ($30,578) | $22,578 | ($1,188,497) | ($154,674) | ($70,434) | ($203,307) | $56,502 | ($1,616,912) | $3,234,944 |
Other comprehensive income (loss), net of tax: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Foreign currency translation adjustment | ' | ' | ' | ' | ' | ' | ' | ' | -3,993 | 17,124 | 11,692 |
Other | ' | ' | ' | ' | ' | ' | ' | ' | 115 | -445 | -37 |
Other comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -3,878 | 16,679 | 11,655 |
Comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 52,624 | -1,600,233 | 3,246,599 |
Less: comprehensive income attributable to noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | -211,030 | -159,133 | -125,683 |
Comprehensive income (loss) attributable to MGM Resorts International | ' | ' | ' | ' | ' | ' | ' | ' | ($158,406) | ($1,759,366) | $3,120,916 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Cash flows from operating activities | ' | ' | ' |
Net income (loss) | $56,502 | ($1,616,912) | $3,234,944 |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ' | ' | ' |
Depreciation and amortization | 849,225 | 927,697 | 817,146 |
Amortization of debt discounts, premiums and issuance costs | 35,281 | 73,389 | 93,800 |
(Gain) loss on retirement of long-term debt | 3,801 | 563,292 | -717 |
Provision for doubtful accounts | 14,969 | 57,068 | 39,093 |
Stock-based compensation | 32,332 | 39,560 | 39,707 |
Property transactions, net | 124,761 | 708,049 | 178,598 |
Gain on MGM China transaction | ' | ' | -3,496,005 |
Loss from unconsolidated affiliates | 114,785 | 137,058 | 27,919 |
Distributions from unconsolidated affiliates | 16,928 | 21,277 | 60,801 |
Deferred income taxes | 58,917 | -117,203 | -394,437 |
Change in operating assets and liabilities: | ' | ' | ' |
Accounts receivable | -59,842 | 1,260 | -155,043 |
Inventories | -336 | 5,183 | -8,039 |
Income taxes receivable and payable, net | 13,468 | -5,978 | 183,649 |
Prepaid expenses and other | -38,790 | -4,608 | 15,268 |
Prepaid Cotai land concession premium | -7,917 | -56,372 | ' |
Accounts payable and accrued liabilities | 116,623 | 163,270 | 32,924 |
Other | -20,259 | 13,321 | 5,518 |
Net cash provided by operating activities | 1,310,448 | 909,351 | 675,126 |
Cash flows from investing activities | ' | ' | ' |
Capital expenditures, net of construction payable | -562,124 | -422,763 | -301,244 |
Dispositions of property and equipment | 18,030 | 426 | 348 |
Acquisition of MGM China, net of cash paid | ' | ' | 407,046 |
Investments in and advances to unconsolidated affiliates | -28,953 | -54,300 | -128,848 |
Distributions from unconsolidated affiliates in excess of earnings | 110 | 1,723 | 2,212 |
Investments in treasury securities- maturities longer than 90 days | -219,546 | -285,469 | -330,313 |
Proceeds from treasury securities- maturities longer than 90 days | 252,592 | 315,438 | 330,130 |
Other | -20,246 | -1,472 | -643 |
Net cash used in investing activities | -560,137 | -446,417 | -21,312 |
Cash flows from financing activities | ' | ' | ' |
Net borrowings (repayments) under bank credit facilities - maturities of 90 days or less | -28,000 | 1,779,262 | -305,880 |
Borrowings under bank credit facilities - maturities longer than 90 days | 2,793,000 | 1,350,000 | 7,559,112 |
Repayments under bank credit facilities - maturities longer than 90 days | -2,793,000 | -3,634,128 | -6,352,384 |
Issuance of senior notes | 500,000 | 4,100,000 | 311,415 |
Retirement of senior notes, including premiums paid | -612,262 | -4,009,117 | -493,816 |
Debt issuance costs | -23,576 | -160,245 | ' |
Distributions to noncontrolling interest owners | -318,348 | -206,806 | -3,768 |
Other | -7,522 | -5,925 | -2,757 |
Net cash provided by (used in) financing activities | -489,708 | -786,959 | 711,922 |
Effect of exchange rate on cash | -443 | 1,621 | 1,213 |
Cash and cash equivalents | ' | ' | ' |
Net increase (decrease) for the period | 260,160 | -322,404 | 1,366,949 |
Balance, beginning of period | 1,543,509 | 1,865,913 | 498,964 |
Balance, end of period | 1,803,669 | 1,543,509 | 1,865,913 |
Supplemental cash flow disclosures | ' | ' | ' |
Interest paid, net of amounts capitalized | 840,280 | 1,039,655 | 1,001,982 |
Federal, state and foreign income taxes paid, net of refunds | 835 | 6,982 | -172,018 |
Non-cash investing activity | ' | ' | ' |
Increase in investment in CityCenter related to change in completion guarantee liability | 92,956 | 84,190 | 54,352 |
Increase in construction accounts payable | $39,287 | $27,368 | $24,716 |
Consolidated_Statements_of_Sto
Consolidated Statements of Stockholders' Equity (USD $) | Total | Common Stock [Member] | Capital in Excess of Par Value [Member] | Retained Earning (Accumulated Deficit) [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Total MGM Resorts International Stockholder's Equity [Member] | Non-controlling Interests [Member] |
In Thousands | |||||||
Beginning Balance at Dec. 31, 2010 | $2,932,162 | $4,885 | $4,060,826 | ($1,133,248) | ($301) | $2,932,162 | ' |
Beginning Balance, Shares at Dec. 31, 2010 | ' | 488,513 | ' | ' | ' | ' | ' |
Net income (loss) | 3,234,944 | ' | ' | 3,114,637 | ' | 3,114,637 | 120,307 |
Currency translation adjustment | 11,692 | ' | ' | ' | 6,316 | 6,316 | 5,376 |
Other comprehensive income (loss) from unconsolidated affiliate, net | -37 | ' | ' | ' | -37 | -37 | ' |
MGM China acquisition | 3,672,173 | ' | ' | ' | ' | ' | 3,672,173 |
Stock-based compensation | 44,279 | ' | 42,723 | ' | ' | 42,723 | 1,556 |
Change in excess tax benefit from stock-based compensation | -8,042 | ' | -8,042 | ' | ' | -8,042 | ' |
Issuance of common stock pursuant to stock-based compensation awards | -1,327 | 3 | -1,330 | ' | ' | -1,327 | ' |
Issuance of common stock pursuant to stock-based compensation awards, Share | ' | 322 | ' | ' | ' | ' | ' |
Cash distributions to noncontrolling interest owners | -3,768 | ' | ' | ' | ' | ' | -3,768 |
Other | 146 | ' | 146 | ' | ' | 146 | ' |
Balances, December 31, 2012 at Dec. 31, 2011 | 9,882,222 | 4,888 | 4,094,323 | 1,981,389 | 5,978 | 6,086,578 | 3,795,644 |
Ending Balance, Shares at Dec. 31, 2011 | ' | 488,835 | ' | ' | ' | ' | ' |
Net income (loss) | -1,616,912 | ' | ' | -1,767,691 | ' | -1,767,691 | 150,779 |
Currency translation adjustment | 17,124 | ' | ' | ' | 8,770 | 8,770 | 8,354 |
Other comprehensive income (loss) from unconsolidated affiliate, net | -445 | ' | ' | ' | -445 | -445 | ' |
Stock-based compensation | 43,428 | ' | 40,566 | ' | ' | 40,566 | 2,862 |
Change in excess tax benefit from stock-based compensation | -301 | ' | -301 | ' | ' | -301 | ' |
Issuance of common stock pursuant to stock-based compensation awards | -1,930 | 4 | -1,934 | ' | ' | -1,930 | ' |
Issuance of common stock pursuant to stock-based compensation awards, Share | ' | 399 | ' | ' | ' | ' | ' |
Cash distributions to noncontrolling interest owners | -207,171 | ' | ' | ' | ' | ' | -207,171 |
Other | 1 | ' | 1 | ' | ' | 1 | ' |
Balances, December 31, 2012 at Dec. 31, 2012 | 8,116,016 | 4,892 | 4,132,655 | 213,698 | 14,303 | 4,365,548 | 3,750,468 |
Ending Balance, Shares at Dec. 31, 2012 | ' | 489,234 | ' | ' | ' | ' | ' |
Net income (loss) | 56,502 | ' | ' | -156,606 | ' | -156,606 | 213,108 |
Currency translation adjustment | -3,993 | ' | ' | ' | -1,915 | -1,915 | -2,078 |
Other comprehensive income (loss) from unconsolidated affiliate, net | 115 | ' | ' | ' | 115 | 115 | ' |
Stock-based compensation | 33,422 | ' | 30,374 | ' | ' | 30,374 | 3,048 |
Change in excess tax benefit from stock-based compensation | 4,188 | ' | 4,188 | ' | ' | 4,188 | ' |
Issuance of common stock pursuant to stock-based compensation awards | -8,694 | 12 | -8,706 | ' | ' | -8,694 | ' |
Issuance of common stock pursuant to stock-based compensation awards, Share | ' | 1,127 | ' | ' | ' | ' | ' |
Cash distributions to noncontrolling interest owners | -318,344 | ' | ' | ' | ' | ' | -318,344 |
Other | -3,589 | ' | -1,831 | ' | ' | -1,831 | -1,758 |
Balances, December 31, 2012 at Dec. 31, 2013 | $7,875,623 | $4,904 | $4,156,680 | $57,092 | $12,503 | $4,231,179 | $3,644,444 |
Ending Balance, Shares at Dec. 31, 2013 | ' | 490,361 | ' | ' | ' | ' | ' |
Organization
Organization | 12 Months Ended |
Dec. 31, 2013 | |
Accounting Policies [Abstract] | ' |
Organization | ' |
NOTE 1 — ORGANIZATION | |
Organization. MGM Resorts International (the “Company”) is a Delaware corporation that acts largely as a holding company and, through wholly owned subsidiaries, owns and/or operates casino resorts. The Company owns and operates the following casino resorts in Las Vegas, Nevada: Bellagio, MGM Grand Las Vegas, The Mirage, Mandalay Bay, Luxor, New York-New York, Monte Carlo, Excalibur and Circus Circus Las Vegas. Operations at MGM Grand Las Vegas include management of The Signature at MGM Grand Las Vegas, a condominium-hotel consisting of three towers. Other Nevada operations include Circus Circus Reno, Gold Strike in Jean and Railroad Pass in Henderson. Along with its local partners, the Company owns and operates MGM Grand Detroit in Detroit, Michigan. The Company owns and operates two resorts in Mississippi: Beau Rivage in Biloxi and Gold Strike Tunica. The Company also owns Shadow Creek, an exclusive world-class golf course located approximately ten miles north of its Las Vegas Strip resorts, Primm Valley Golf Club at the California/Nevada state line and Fallen Oak golf course in Saucier, Mississippi. | |
The Company owns 51% and has a controlling interest in MGM China Holdings Limited (“MGM China”), which owns MGM Grand Paradise, S.A. (“MGM Grand Paradise”), the Macau company that owns and operates the MGM Macau resort and casino and the related gaming subconcession and land concession. On October 18, 2012, MGM Grand Paradise formally accepted a land concession contract with the government of Macau to develop a second resort and casino on an approximately 17.8 acre site in Cotai, Macau (“MGM Cotai”). The land concession contract became effective on January 9, 2013 when the Macau government published the agreement in the Official Gazette of Macau. MGM Cotai will be an integrated casino, hotel and entertainment complex with approximately 1,600 hotel rooms, 500 gaming tables and up to 2,500 slots. The total estimated project budget is $2.9 billion excluding development fees eliminated in consolidation, capitalized interest and land. See Note 3 for additional information related to MGM China. | |
The Company owns 50% of CityCenter, located between Bellagio and Monte Carlo. The other 50% of CityCenter is owned by Infinity World Development Corp, a wholly owned subsidiary of Dubai World, a Dubai, United Arab Emirates government decree entity. CityCenter consists of Aria, a casino resort; Mandarin Oriental Las Vegas, a non-gaming boutique hotel; Crystals, a retail, dining and entertainment district; and Vdara, a luxury condominium-hotel. In addition, CityCenter features residential units in the Residences at Mandarin Oriental and Veer. The Company receives a management fee of 2% of revenues for the management of Aria and Vdara, and 5% of EBITDA (as defined in the agreements governing the Company’s management of Aria and Vdara). In addition, the Company receives an annual fee of $3 million for the management of Crystals. See Note 6 and Note 18 for additional information related to CityCenter. | |
The Company has 50% interests in Grand Victoria and Silver Legacy. Grand Victoria is a riverboat casino in Elgin, Illinois; an affiliate of Hyatt Gaming owns the other 50% of Grand Victoria and also operates the resort. Silver Legacy is located in Reno, adjacent to Circus Circus Reno, and the other 50% is owned by Eldorado LLC. See Note 6 for additional information related to Grand Victoria and Silver Legacy. | |
The Maryland Video Lottery Facility Location Commission has awarded the Company the license to build and operate a world-class destination resort casino in Prince George’s County at National Harbor. Currently, the expected cost to develop and construct MGM National Harbor is approximately $1.0 billion, excluding capitalized interest and land related costs. The Company expects the resort to include a casino with approximately 3,600 slots, 160 table games including poker; a 300 suite hotel with luxury spa and rooftop pool; high end branded retail; fine and casual dining; a dedicated 3,000 seat theater venue; 35,000 square feet of meeting and event space; and a 5,000 space parking garage. | |
The Company has two reportable segments: wholly owned domestic resorts and MGM China. See Note 17 for additional information about the Company’s segments. | |
MGM Hospitality. MGM Hospitality seeks to leverage the Company’s management expertise and well-recognized brands through strategic partnerships and international expansion opportunities. MGM Hospitality has entered into management agreements for non-gaming hotels in the Middle East, North Africa, India and, through its joint venture with Diaoyutai State Guesthouse, the People’s Republic of China. MGM Hospitality opened its first resort, MGM Grand Sanya, on Hainan Island in the People’s Republic of China in early 2012. | |
Borgata. The Company has a 50% economic interest in Borgata Hotel Casino & Spa (“Borgata”) located on Renaissance Pointe in the Marina area of Atlantic City, New Jersey. Boyd Gaming Corporation owns the other 50% of Borgata and also operates the resort. The Company’s interest is held in trust and was offered for sale pursuant to its amended settlement agreement with the New Jersey Division of Gaming Enforcement and approved by the New Jersey Casino Control Commission (“CCC”). The terms of the amended settlement agreement previously mandated the sale by March 2014. The Company had the right to direct the sale through March 2013 (the “divesture period”), subject to approval of the CCC, and the trustee was responsible for selling the trust property during the following 12-month period (the “terminal sale period”). On February 13, 2013, the settlement agreement was further amended to allow the Company to re-apply to the CCC for licensure in New Jersey and to defer expiration of these periods pending the outcome of the licensure process. The Company has submitted its licensure request to the CCC and there can be no assurances that such request will be approved or with respect to the timing of the licensure process. If the CCC denies the Company’s licensure request, then the divesture period will immediately end, and the terminal sale period will immediately begin, which will result in the Company’s Borgata interest being disposed of by the trustee pursuant to the terms of the settlement agreement. | |
The Company consolidates the trust because it is the sole economic beneficiary and accounts for its interest in Borgata under the cost method. The Company reviews its investment carrying value whenever indicators of impairment exist and accordingly has recorded impairment charges in each of the years ended December 31, 2012 and 2011. See Note 16 for further discussion. | |
As of December 31, 2013, the trust had $102 million of cash and investments, of which $87 million is held in U.S. treasury securities with maturities greater than three months but less than one year, and is recorded within “Prepaid expenses and other.” As of December 31, 2012, the trust had $135 million of cash and investments, of which $120 million was held in U.S. treasury securities with maturities greater than three months but less than one year. |
Basis_of_Presentation_and_Sign
Basis of Presentation and Significant Accounting Policies | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||
Basis of Presentation and Significant Accounting Policies | ' | ||||||||||||
NOTE 2 — BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES | |||||||||||||
Principles of consolidation. The consolidated financial statements include the accounts of the Company and its subsidiaries. The Company’s investments in unconsolidated affiliates which are 50% or less owned are accounted for under the equity method. The Company does not have significant variable interests in variable interest entities. All intercompany balances and transactions have been eliminated in consolidation. | |||||||||||||
Management’s use of estimates. The consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America. These principles require the Company’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. | |||||||||||||
Fair value measurements. Fair value measurements affect the Company’s accounting and impairment assessments of its long-lived assets, investments in unconsolidated affiliates, cost method investments, 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 observable inputs for similar assets; or Level 3 inputs, which are unobservable inputs. | |||||||||||||
• | The fair value of the Company’s treasury securities held by the Borgata trust was measured using Level 2 inputs. See Note 1; | ||||||||||||
• | The Company uses Level 1 inputs for its long-term debt fair value disclosures. See Note 9; | ||||||||||||
• | The Company used Level 3 inputs when assessing the fair value of its investment in Grand Victoria. See Note 6; and | ||||||||||||
• | The Company used Level 3 inputs when assessing the fair value of its land in Jean and Sloan, Nevada at September 30, 2013. See Note 16. | ||||||||||||
Cash and cash equivalents. Cash and cash equivalents include investments and interest bearing instruments with maturities of 90 days or less at the date of acquisition. Such investments are carried at cost, which approximates market value. Book overdraft balances resulting from the Company’s cash management program are recorded as accounts payable, construction payable, or other accrued liabilities, as applicable. | |||||||||||||
Accounts receivable and credit risk. Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of casino accounts receivable. The Company issues credit to approved casino customers and gaming promoters following background checks and investigations of creditworthiness. At December 31, 2013, 69% of the Company’s casino receivables were due from customers residing in foreign countries. Business or economic conditions or other significant events in these countries could affect the collectibility of such receivables. | |||||||||||||
Accounts receivable are typically non-interest bearing and are initially recorded at cost. Accounts are written off when management deems the account to be uncollectible. Recoveries of accounts previously written off are recorded when received. An estimated allowance for doubtful accounts is maintained to reduce the Company’s receivables to their net carrying amount, which approximates fair value. The allowance is estimated based on specific review of customer accounts as well as historical collection experience and current economic and business conditions. Management believes that as of December 31, 2013, no significant concentrations of credit risk existed for which an allowance had not already been recorded. | |||||||||||||
Inventories. Inventories consist primarily of food and beverage, retail merchandise and operating supplies, and are stated at the lower of cost or market. Cost is determined primarily using the average cost method for food and beverage and operating supplies. Cost for retail merchandise is determined using the cost method. | |||||||||||||
Property and equipment. Property and equipment are stated at cost. A significant amount of the Company’s property and equipment was acquired through business combinations and therefore recognized at fair value at the acquisition date. Gains or losses on dispositions of property and equipment are included in the determination of income. Maintenance costs are expensed as incurred. Property and equipment are generally depreciated over the following estimated useful lives on a straight-line basis: | |||||||||||||
Buildings and improvements | 20 to 40 years | ||||||||||||
Land improvements | 10 to 20 years | ||||||||||||
Furniture and fixtures | 3 to 20 years | ||||||||||||
Equipment | 3 to 20 years | ||||||||||||
The Company evaluates its property and equipment and other long-lived assets for impairment based on its classification as a) held for sale or b) to be held and used. Several criteria must be met before an asset is classified as held for sale, including that management with the appropriate authority commits to a plan to sell the asset at a reasonable price in relation to its fair value and is actively seeking a buyer. For assets held for sale, the Company recognizes the asset at the lower of carrying value or fair market value less costs to sell, as estimated based on comparable asset sales, offers received, or a discounted cash flow model. For assets to be held and used, the Company reviews for impairment whenever indicators of impairment exist. The Company then compares the estimated future cash flows of the asset, on an undiscounted basis, to the carrying value of the asset. If the undiscounted cash flows exceed the carrying value, no impairment is indicated. If the undiscounted cash flows do not exceed the carrying value, then an impairment is recorded based on the fair value of the asset, typically measured using a discounted cash flow model. If an asset is still under development, future cash flows include remaining construction costs. All recognized impairment losses, whether for assets held for sale or assets to be held and used, are recorded as operating expenses. See Note 16 for information on recorded impairment charges. | |||||||||||||
Capitalized interest. The interest cost associated with major development and construction projects is capitalized and included in the cost of the project. When no debt is incurred specifically for a project, interest is capitalized on amounts expended on the project using the weighted-average cost of the Company’s outstanding borrowings. Capitalization of interest ceases when the project is substantially complete or development activity is suspended for more than a brief period. | |||||||||||||
Investments in and advances to unconsolidated affiliates. The Company has investments in unconsolidated affiliates accounted for under the equity method. Under the equity method, carrying value is adjusted for the Company’s share of the investees’ earnings and losses, amortization of certain basis differences, as well as capital contributions to and distributions from these companies. Distributions in excess of equity method earnings are recognized as a return of investment and recorded as investing cash inflows in the accompanying consolidated statements of cash flows. The Company classifies operating income and losses as well as gains and impairments related to its investments in unconsolidated affiliates as a component of operating income or loss, as the Company's investments in such unconsolidated affiliates are an extension of the Company’s core business operations. | |||||||||||||
The Company evaluates its investments in unconsolidated affiliates for impairment whenever events or changes in circumstances indicate that the carrying value of its investment may have experienced an “other-than-temporary” decline in value. If such conditions exist, the Company compares the estimated fair value of the investment to its carrying value to determine if an impairment is indicated and determines whether the impairment is “other-than-temporary” based on its assessment of all relevant factors, including consideration of the Company’s intent and ability to retain its investment. The Company estimates fair value using a discounted cash flow analysis based on estimated future results of the investee and market indicators of terminal year capitalization rates, and a market approach that utilizes business enterprise value multiples based on a range of multiples from the Company’s peer group. See Note 6 for results of the Company’s review of its investment in certain of its unconsolidated affiliates. | |||||||||||||
Special revenue bonds. The Company holds South Jersey Transportation Authority special revenue bonds, the original proceeds from which were used to provide funding for the Atlantic City/Brigantine Connector Project. The repayment of the remaining principal and interest for the bonds is supported by eligible investment alternative tax obligation payments made to the Casino Reinvestment Development Authority from future casino licensees on the Renaissance Pointe land owned by the Company. The Company assumed no future cash flows will be received to support the carrying value of the bonds, and recorded an other-than-temporary impairment of $47 million as of December 31, 2012, included in “Other, net.” Management believed the probability for casino development on Renaissance Pointe in the foreseeable future was remote due to the continued deterioration of the Atlantic City market and initial underperformance of a resort that opened in the market. | |||||||||||||
Goodwill and other intangible assets. Goodwill represents the excess of purchase price over fair market value of net assets acquired in business combinations. Goodwill and indefinite-lived intangible assets must be reviewed for impairment at least annually and between annual test dates in certain circumstances. The Company performs its annual impairment tests in the fourth quarter of each fiscal year. No impairments were indicated as a result of the annual impairment review for goodwill and indefinite-lived intangible assets in 2013, 2012 and 2011, except as disclosed in Note 16. | |||||||||||||
Goodwill for relevant reporting units is tested for impairment using a discounted cash flow analysis based on the estimated future results of the Company’s reporting units discounted using market discount rates and market indicators of terminal year capitalization rates, and a market approach that utilizes business enterprise value multiples based on a range of multiples from the Company’s peer group. The implied fair value of a reporting unit’s goodwill is compared to the carrying value of that goodwill. The implied fair value of goodwill is determined by allocating the fair value of the reporting unit to its assets and liabilities and the amount remaining, if any, is the implied fair value of goodwill. If the implied fair value of goodwill is less than its carrying value then it must be written down to its implied fair value. License rights are tested for impairment using a discounted cash flow approach, and trademarks are tested for impairment using the relief-from-royalty method. If the fair value of an indefinite-lived intangible asset is less than its carrying amount, an impairment loss must be recognized equal to the difference. | |||||||||||||
Revenue recognition and promotional allowances. Casino revenue is the aggregate net difference between gaming wins and losses, with liabilities recognized for funds deposited by customers before gaming play occurs (“casino front money”) and for chips in the customers’ possession (“outstanding chip liability”). Hotel, food and beverage, entertainment and other operating revenues are recognized as services are performed. Advance deposits on rooms and advance ticket sales are recorded as accrued liabilities until services are provided to the customer. | |||||||||||||
Gaming revenues are recognized net of certain sales incentives, including discounts and points earned in point-loyalty programs. The retail value of accommodations, food and beverage, and other services furnished to guests without charge is included in gross revenue and then deducted as promotional allowances. The estimated cost of providing promotional allowances is primarily included in casino expenses as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
(In thousands) | |||||||||||||
Rooms | $ | 111,842 | $ | 109,713 | $ | 100,968 | |||||||
Food and beverage | 294,555 | 298,111 | 274,776 | ||||||||||
Entertainment, retail and other | 39,606 | 35,643 | 32,705 | ||||||||||
$ | 446,003 | $ | 443,467 | $ | 408,449 | ||||||||
Gaming promoters. A significant portion of the high-end (“VIP”) gaming volume at MGM Macau is generated through the use of gaming promoters, also known as junket operators. These operators introduce high-end gaming players to MGM Macau, assist these customers with travel arrangements, and extend gaming credit to these players. VIP gaming at MGM Macau is conducted by the use of special purpose nonnegotiable gaming chips called “rolling chips.” Gaming promoters purchase these rolling chips from MGM Macau and in turn sell these chips to their players. The rolling chips allow MGM Macau to track the amount of wagering conducted by each gaming promoters’ clients in order to determine VIP gaming play. In exchange for the gaming promoters’ services, MGM Macau compensates the gaming promoters through revenue-sharing arrangements or rolling chip turnover-based commissions. The estimated portion of the gaming promoter commissions that represent amounts passed through to VIP customers is recorded as a reduction of casino revenue, and the estimated portion retained by the gaming promoter for its compensation is recorded as casino expense. | |||||||||||||
Reimbursed expenses. The Company recognizes costs reimbursed pursuant to management services as revenue in the period it incurs the costs. Reimbursed costs related primarily to the Company’s management of CityCenter. | |||||||||||||
Loyalty programs. The Company’s primary loyalty program is “M life” and is available to patrons at substantially all of the Company’s wholly owned and operated resorts and CityCenter. Customers earn points based on their slots play which can be redeemed for FREEPLAY at any of the Company’s participating resorts. The Company records a liability based on the points earned multiplied by the redemption value, less an estimate for points not expected to be redeemed, and records a corresponding reduction in casino revenue. Customers also earn “Express Comps” based on their gaming play which can be redeemed for complimentary goods and services, including hotel rooms, food and beverage, and entertainment. The Company records a liability for the estimated costs of providing goods and services for Express Comps based on the Express Comps earned multiplied by a cost margin, less an estimate for Express Comps not expected to be redeemed and records a corresponding expense in the casino department. MGM Macau also has a loyalty program, whereby patrons earn rewards that can be redeemed for complimentary services, including hotel rooms, food and beverage, and entertainment. | |||||||||||||
Advertising. The Company expenses advertising costs the first time the advertising takes place. Advertising expense, which is generally included in general and administrative expenses, was $153 million, $139 million, and $121 million for 2013, 2012 and 2011, respectively. | |||||||||||||
Corporate expense. Corporate expense represents unallocated payroll, aircraft costs, professional fees and various other expenses not directly related to the Company’s casino resort operations. In addition, corporate expense includes the costs associated with the Company’s evaluation and pursuit of new business opportunities, which are expensed as incurred. | |||||||||||||
Preopening and start-up expenses. Preopening and start-up costs, including organizational costs, are expensed as incurred. Costs classified as preopening and start-up expenses include payroll, outside services, advertising, and other expenses related to new or start-up operations. | |||||||||||||
Property transactions, net. The Company classifies transactions such as write-downs and impairments, demolition costs, and normal gains and losses on the sale of assets as “Property transactions, net.” See Note 16 for a detailed discussion of these amounts. | |||||||||||||
Income (loss) per share of common stock. The table below reconciles basic and diluted income (loss) per share of common stock. Diluted net income (loss) attributable to MGM Resorts International includes adjustments for interest on convertible debt, net of tax, and the potentially dilutive effect on the Company’s equity interest in MGM China due to shares outstanding under the MGM China Share Option Plan. Diluted weighted-average common and common equivalent shares includes adjustments for potential dilution of share-based awards outstanding under the Company’s stock compensation plans and the assumed conversion of convertible debt. | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
(In thousands) | |||||||||||||
Numerator: | |||||||||||||
Net income (loss) attributable to MGM Resorts International - basic | $ | (156,606) | $ | (1,767,691) | $ | 3,114,637 | |||||||
Interest on convertible debt, net of tax | - | - | 38,344 | ||||||||||
Potentially dilutive effect due to MGM China Share Option Plan | (104) | - | - | ||||||||||
Net income (loss) attributable to MGM Resorts International - diluted | $ | (156,710) | $ | (1,767,691) | $ | 3,152,981 | |||||||
Denominator: | |||||||||||||
Weighted-average common shares outstanding - basic | 489,661 | 488,988 | 488,652 | ||||||||||
Potential dilution from share-based awards | - | - | 1,577 | ||||||||||
Potential dilution from assumed conversion of convertible debt | - | - | 70,666 | ||||||||||
Weighted-average common and common equivalent shares - diluted | 489,661 | 488,988 | 560,895 | ||||||||||
Anti-dilutive share-based awards excluded from the calculation of diluted earnings per share | 18,468 | 25,041 | 21,886 | ||||||||||
Currency translation. The Company translates the financial statements of foreign subsidiaries that are not denominated in U.S. dollars. Balance sheet accounts are translated at the exchange rate in effect at each balance sheet date. Income statement accounts are translated at the average rate of exchange prevailing during the period. Translation adjustments resulting from this process are recorded to other comprehensive income (loss). | |||||||||||||
Comprehensive income (loss). Comprehensive income includes net income (loss) and all other non-stockholder changes in equity, or other comprehensive income (loss). Elements of the Company’s accumulated other comprehensive income are reported in the accompanying consolidated statements of stockholders’ equity, and the cumulative balance of these elements consisted of the following: | |||||||||||||
At December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
(In thousands) | |||||||||||||
Currency translation adjustments | $ | 24,733 | $ | 28,726 | |||||||||
Other comprehensive loss from unconsolidated affiliates | (578) | (693) | |||||||||||
Accumulated other comprehensive income | 24,155 | 28,033 | |||||||||||
Less: Currency translation adjustment attributable to noncontrolling interests | (11,652) | (13,730) | |||||||||||
Accumulated other comprehensive income attributable to MGM Resorts International | $ | 12,503 | $ | 14,303 | |||||||||
MGM_China_Acquisition
MGM China Acquisition | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Business Combinations [Abstract] | ' | ||||||||||||
MGM China Acquisition | ' | ||||||||||||
NOTE 3 — MGM CHINA ACQUISITION | |||||||||||||
On June 3, 2011, the Company and Ms. Ho, Pansy Catilina Chiu King (“Ms. Pansy Ho”) completed a reorganization of the capital structure of MGM China and the initial public offering of 760 million shares of MGM China on The Stock Exchange of Hong Kong Limited (the “IPO”), representing 20% of the post issuance capital stock of MGM China, at an offer price of HKD 15.34 per share. Pursuant to this reorganization, the Company, through a wholly owned subsidiary, acquired an additional 1% of the overall capital stock of MGM China for HKD 15.34 per share, or approximately $75 million, and thereby became the indirect owner of 51% of MGM China. Following the IPO, the underwriters exercised their overallotment rights with respect to 59 million shares. | |||||||||||||
Through the acquisition of its additional 1% interest of MGM China, the Company obtained a controlling interest and was required to consolidate MGM China as of June 3, 2011. Prior to the IPO, the Company held a 50% interest in MGM Grand Paradise, which was accounted for under the equity method as discussed in Note 6. The acquisition of the controlling financial interest was accounted for as a business combination and the Company recognized 100% of the assets, liabilities, and noncontrolling interests of MGM China at fair value at the date of acquisition. The fair value of the equity interests of MGM China was determined by the IPO transaction price and equaled approximately $7.5 billion. The carrying value of the Company’s equity method investment was significantly less than its share of the fair value of MGM China at the acquisition date, resulting in a $3.5 billion gain on the acquisition. Under the acquisition method, the fair value was allocated to the assets acquired, liabilities assumed and noncontrolling interests recorded in the transaction. | |||||||||||||
The Company recognized the identifiable intangible assets of MGM China at fair value. The gaming subconcession and land concession had historical cost bases which were being amortized by MGM Macau. The customer relationship intangible assets did not have historical cost bases at MGM Macau. The estimated fair values of the intangible assets acquired were primarily determined using Level 3 inputs. The gaming subconcession was valued using an excess earnings model based on estimated future cash flows of MGM Macau. All of the recognized intangible assets were determined to have finite lives and are being amortized over their estimated useful lives as discussed in Note 7. | |||||||||||||
MGM China results. MGM China’s results included in the accompanying consolidated financial statements beginning as of June 3, 2011 are presented below: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
(In thousands) | |||||||||||||
Net revenues | $ | 3,316,928 | $ | 2,807,676 | $ | 1,534,963 | |||||||
Operating income | 501,021 | 302,092 | 137,440 | ||||||||||
Net income | 414,039 | 289,631 | 238,419 | ||||||||||
Net income attributable to MGM Resorts International | 211,160 | 147,712 | 121,594 | ||||||||||
Pro forma information. The following unaudited pro forma consolidated financial information for the Company has been prepared assuming the Company’s acquisition of its controlling financial interest had occurred as of January 1, 2010 and excludes the gain recognized by the Company: | |||||||||||||
Year Ended | |||||||||||||
December 31, | |||||||||||||
2011 | |||||||||||||
(In thousands, | |||||||||||||
except per share | |||||||||||||
data) | |||||||||||||
Net revenues | $ | 8,920,343 | |||||||||||
Operating income | 577,271 | ||||||||||||
Net loss | -262,452 | ||||||||||||
Net loss attributable to MGM Resorts International | -435,099 | ||||||||||||
Loss per share of common stock attributable to MGM Resorts International: | |||||||||||||
Basic | $ | -0.89 | |||||||||||
Diluted | $ | -0.89 |
Accounts_Receivable_Net
Accounts Receivable, Net | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Receivables [Abstract] | ' | ||||||||
Accounts Receivable, Net | ' | ||||||||
NOTE 4 — ACCOUNTS RECEIVABLE, NET | |||||||||
Accounts receivable, net consisted of the following: | |||||||||
At December 31, | |||||||||
2013 | 2012 | ||||||||
(In thousands) | |||||||||
Casino | $ | 309,620 | $ | 294,312 | |||||
Hotel | 156,201 | 147,476 | |||||||
Other | 104,109 | 99,800 | |||||||
569,930 | 541,588 | ||||||||
Less: Allowance for doubtful accounts | -81,713 | -97,911 | |||||||
$ | 488,217 | $ | 443,677 | ||||||
Property_and_Equipment_Net
Property and Equipment, Net | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Property Plant And Equipment [Abstract] | ' | ||||||||
Property and Equipment, Net | ' | ||||||||
NOTE 5 — PROPERTY AND EQUIPMENT, NET | |||||||||
Property and equipment, net consisted of the following: | |||||||||
At December 31, | |||||||||
2013 | 2012 | ||||||||
(In thousands) | |||||||||
Land | $ | 6,477,489 | $ | 6,499,492 | |||||
Buildings, building improvements and land improvements | 9,264,455 | 9,272,556 | |||||||
Furniture, fixtures and equipment | 4,040,887 | 3,995,161 | |||||||
Construction in progress | 437,434 | 140,693 | |||||||
20,220,265 | 19,907,902 | ||||||||
Less: Accumulated depreciation and amortization | -6,165,053 | -5,713,250 | |||||||
$ | 14,055,212 | $ | 14,194,652 | ||||||
Investments_in_and_Advances_to
Investments in and Advances to Unconsolidated Affiliates | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Equity Method Investments And Joint Ventures [Abstract] | ' | ||||||||||||
Investments in and Advances to Unconsolidated Affiliates | ' | ||||||||||||
NOTE 6 — INVESTMENTS IN AND ADVANCES TO UNCONSOLIDATED AFFILIATES | |||||||||||||
Investments in and advances to unconsolidated affiliates consisted of the following: | |||||||||||||
At December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
(In thousands) | |||||||||||||
CityCenter Holdings, LLC - CityCenter (50%) | $ | 1,172,087 | $ | 1,220,741 | |||||||||
Elgin Riverboat Resort–Riverboat Casino – Grand Victoria (50%) | 169,579 | 206,296 | |||||||||||
Silver Legacy (50%) and Other | 33,170 | 17,510 | |||||||||||
$ | 1,374,836 | $ | 1,444,547 | ||||||||||
The Company recorded its share of the results of operations of unconsolidated affiliates as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
(In thousands) | |||||||||||||
Income (loss) from unconsolidated affiliates | $ | 43,060 | $ | -46,382 | $ | 91,094 | |||||||
Preopening and start-up expenses | -507 | -656 | - | ||||||||||
Non-operating items from unconsolidated affiliates | -157,338 | -90,020 | -119,013 | ||||||||||
$ | (114,785) | $ | (137,058) | $ | (27,919) | ||||||||
CityCenter | |||||||||||||
October 2013 debt restructuring transactions. In October 2013, CityCenter entered into a $1.775 billion senior secured credit facility. The senior secured credit facility consists of a $75 million revolving facility maturing in October 2018, and a $1.7 billion term loan B facility maturing in October 2020. The term loan B facility was issued at 99% of the principal amount and will bear interest at LIBOR plus 4.00% with a LIBOR floor of 1.00%. Concurrent with the closing of the new senior secured credit facility, CityCenter issued a notice of full redemption with respect to its existing 7.625% senior secured first lien notes and 10.75%/11.50% senior secured second lien PIK toggle notes and discharged each of the indentures for its first and second lien notes at a premium in accordance with the terms of such indentures. As a result of the transaction, the Company recorded a fourth quarter charge of $70 million for its share of CityCenter’s non-operating loss on retirement of long-term debt, primarily consisting of premiums associated with the redemption of the existing first and second lien notes as well as the write-off of previously unamortized debt issuance costs. CityCenter also recorded a loss on retirement of long term-debt of $24 million in the first quarter of 2011 related to its January 2011 credit facility amendments and the concurrent issuance of first and second lien notes. | |||||||||||||
In addition, in connection with the October 2013 debt restructuring, sponsor notes with a carrying value of approximately $738 million were converted to members’ equity. Subsequent to these transactions, CityCenter’s senior credit facility is its only remaining long-term debt. The senior secured credit facility is secured by substantially all the assets of CityCenter, and contains certain financial covenants including minimum interest coverage ratios and maximum leverage ratio requirements (as defined in the agreements). | |||||||||||||
Completion guarantee. In October 2013, the Company entered into an amended completion and cost overrun guarantee in connection with CityCenter’s restated senior credit facility agreement as discussed in Note 11. | |||||||||||||
Residential inventory impairment. CityCenter is required to carry its residential inventory at the lower of its carrying value or fair value less costs to sell. Fair value of the residential inventory is determined using a discounted cash flow analysis based on management’s current expectations of future cash flows. The key inputs in the discounted cash flow analysis include estimated sales prices of units currently under contract and new unit sales, the absorption rate over the sell-out period, and the discount rate. CityCenter recorded an impairment charge of $36 million in 2012. The Company recognized 50% of such impairment charges, resulting in a charge of approximately $18 million. CityCenter recorded a residential inventory impairment charge of $53 million in 2011. The Company recognized 50% of such impairment charge, resulting in a charge of approximately $26 million. | |||||||||||||
Harmon. CityCenter accrued $32 million in 2012 related to the estimated demolition cost of the Harmon. The Company recognized 50% of such charge, resulting in a charge of approximately $16 million. See Note 11 for additional information regarding Harmon. | |||||||||||||
Grand Victoria | |||||||||||||
At June 30, 2013, the Company reviewed the carrying value of its Grand Victoria investment for impairment due to a higher than anticipated decline in operating results and loss of market share as a result of the opening of a new river boat casino in the Illinois market, as well as a decrease in forecasted cash flows compared to the prior forecast. The Company used a blended discounted cash flow analysis and guideline public company method to determine the estimated fair value from a market participant’s viewpoint. Key assumptions included in the discounted cash flow analysis were estimates of future cash flows including outflows for capital expenditures, a long-term growth rate of 2% and a discount rate of 11%. Key assumptions in the guideline public company method included business enterprise value multiples selected based on the range of multiples in the Company’s peer group. As a result of the analysis, the Company determined that it was necessary to record an other-than-temporary impairment charge of $37 million at June 30, 2013, based on an estimated fair value of $170 million for the Company’s 50% interest. The Company intends to, and believes it will be able to, retain the investment in Grand Victoria; however, due to the extent of the shortfall and the Company’s assessment of the uncertainty of fully recovering its investment, the Company has determined that the impairment was other-than-temporary. | |||||||||||||
At June 30, 2012, the Company reviewed the carrying value of its Grand Victoria investment for impairment due to a decrease in operating results at the property and the loss of market share as a result of the opening of a new riverboat casino in the Illinois market, as well as a decrease in forecasted cash flows. The Company used a discounted cash flow analysis to determine the estimated fair value. Key assumptions included in the analysis were estimates of future cash flows including outflows for capital expenditures, a long-term growth rate of 2% and a discount rate of 10.5%. As a result of the discounted cash flow analysis, the Company determined that it was necessary to record an other-than-temporary impairment charge of $85 million based on an estimated fair value of $205 million for the Company’s 50% interest. | |||||||||||||
Silver Legacy | |||||||||||||
Silver Legacy had approximately $143 million of outstanding senior secured notes that were due in March 2012. Silver Legacy did not repay its notes at maturity and filed for Chapter 11 bankruptcy protection in May 2012. These notes were non-recourse to the Company. In November 2012, Silver Legacy completed a consensual plan of reorganization pursuant to which the holders of the senior secured notes received a combination of cash and new second lien notes. Concurrently, Silver Legacy entered into an agreement for a new $70 million senior secured credit facility, which provided for a portion of the exit financing associated with the plan of reorganization. As part of the reorganization, the partners invested $7.5 million each in the form of subordinated sponsor notes. The Company resumed the equity method of accounting for its investment in Silver Legacy subsequent to completion of the reorganization. In December 2013, Silver Legacy entered into a new senior credit facility and redeemed its outstanding second lien notes. Silver Legacy recognized a gain of $24 million in connection with these transactions. The Company recognized $12 million, its share of the gain, within non-operating items from unconsolidated affiliates. | |||||||||||||
MGM Grand Paradise Limited | |||||||||||||
As discussed in Note 3, the Company obtained a controlling financial interest in MGM China as of June 3, 2011. MGM China owns MGM Grand Paradise, the Macau company that owns and operates MGM Macau resort and casino and the related gaming subconcession and land concession. Because the Company obtained a controlling financial interest, it was required to consolidate MGM China beginning on June 3, 2011. Prior thereto, the Company's investment in MGM Grand Paradise was accounted for under the equity method. Prior to the transaction, the Company received distributions from MGM Grand Paradise of approximately $31 million in 2011. | |||||||||||||
Unconsolidated Affiliate Financial Information | |||||||||||||
Summarized balance sheet information of the unconsolidated affiliates is as follows: | |||||||||||||
At December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
(In thousands) | |||||||||||||
Current assets | $ | 528,297 | $ | 619,099 | |||||||||
Property and other long-term assets, net | 8,519,605 | 8,875,020 | |||||||||||
Current liabilities | 519,779 | 501,518 | |||||||||||
Long-term debt and other liabilities | 1,779,797 | 2,668,759 | |||||||||||
Equity | 6,748,326 | 6,323,842 | |||||||||||
Summarized results of operations of the unconsolidated affiliates are as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
(In thousands) | |||||||||||||
Net revenues | $ | 1,584,609 | $ | 1,527,355 | $ | 2,558,631 | |||||||
Operating expenses | (1,572,298) | (1,731,263) | (2,472,668) | ||||||||||
Operating income (loss) | 12,311 | -203,908 | 85,963 | ||||||||||
Interest expense | -247,405 | -277,119 | -293,578 | ||||||||||
Other non-operating expense | -151,401 | -5,329 | -25,876 | ||||||||||
Net loss | $ | -386,495 | $ | -486,356 | $ | -233,491 | |||||||
Basis Differences | |||||||||||||
The Company’s investments in unconsolidated affiliates do not equal the venture-level equity due to various basis differences. Basis differences related to depreciable assets are being amortized based on the useful lives of the related assets and liabilities and basis differences related to non–depreciable assets, such as land and indefinite-lived intangible assets, are not being amortized. Differences between the Company’s venture-level equity and investment balances are as follows: | |||||||||||||
At December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
(In thousands) | |||||||||||||
Venture-level equity | $ | 3,369,148 | $ | 3,156,631 | |||||||||
Adjustment to CityCenter equity upon contribution of net assets by MGM Resorts International (A) | -583,946 | -589,338 | |||||||||||
CityCenter capitalized interest (B) | 261,526 | 271,602 | |||||||||||
Completion guarantee (C) | 411,944 | 316,281 | |||||||||||
Advances to CityCenter, net of discount (D) | -53,296 | 268,927 | |||||||||||
Other-than-temporary impairments of CityCenter investment (E) | (1,915,153) | (1,972,633) | |||||||||||
Fair value adjustments upon acquisition of Grand Victoria investment (F) | 267,190 | 267,190 | |||||||||||
Other adjustments (G) | -382,577 | -274,113 | |||||||||||
$ | 1,374,836 | $ | 1,444,547 | ||||||||||
(A) | Primarily relates to land and fixed assets. | ||||||||||||
(B) | Relates to interest capitalized on the Company’s investment balance during development and construction stages. | ||||||||||||
(C) | Created by contributions to CityCenter under the completion guarantee recognized as equity contributions by the joint venture split between the partners. | ||||||||||||
(D) | During 2013, the Company converted its CityCenter sponsor notes to equity, resolving the basis difference related to such notes which were previously recognized as long-term debt by CityCenter. The remaining basis difference relates to interest on the notes capitalized by CityCenter during development. | ||||||||||||
(E) | The impairment of the Company’s CityCenter investment includes $426 million of impairments allocated to land. | ||||||||||||
(F) | Relates to indefinite-lived gaming license rights for Grand Victoria. | ||||||||||||
(G) | Other adjustments include the deferred gain on assets contributed to CityCenter upon formation of the joint venture and other-than-temporary impairments of the Company’s investment in Grand Victoria and Silver Legacy. In 2012, other adjustments included a receivable from CityCenter related to condominium proceeds which was expected to be reimbursed to the Company. |
Goodwill_and_Other_Intangible_
Goodwill and Other Intangible Assets | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ||||||||
Goodwill and Other Intangible Assets | ' | ||||||||
NOTE 7 — GOODWILL AND OTHER INTANGIBLE ASSETS | |||||||||
Goodwill and other intangible assets consisted of the following: | |||||||||
At December 31, | |||||||||
2013 | 2012 | ||||||||
(In thousands) | |||||||||
Goodwill: | |||||||||
Mirage Resorts acquisition (2000) | $ | 30,451 | $ | 30,451 | |||||
Mandalay Resort Group acquisition (2005) | 40,524 | 40,524 | |||||||
MGM China acquisition (2011) | 2,826,467 | 2,831,872 | |||||||
$ | 2,897,442 | $ | 2,902,847 | ||||||
Indefinite-lived intangible assets: | |||||||||
Detroit development rights | $ | 98,098 | $ | 98,098 | |||||
Trademarks, license rights and other | 232,123 | 234,073 | |||||||
Total indefinite-lived intangible assets | 330,221 | 332,171 | |||||||
Finite-lived intangible assets: | |||||||||
MGM China gaming subconcession | 4,513,631 | 4,515,991 | |||||||
Less: Accumulated amortization | -526,152 | -358,873 | |||||||
3,987,479 | 4,157,118 | ||||||||
MGM Macau land concession | 84,727 | 84,772 | |||||||
Less: Accumulated amortization | -11,003 | -6,737 | |||||||
73,724 | 78,035 | ||||||||
MGM China customer lists | 128,961 | 129,028 | |||||||
Less: Accumulated amortization | -101,240 | -75,550 | |||||||
27,721 | 53,478 | ||||||||
MGM China gaming promoter relationships | 180,545 | 180,640 | |||||||
Less: Accumulated amortization | -116,335 | -71,223 | |||||||
64,210 | 109,417 | ||||||||
Maryland license and other intangible assets | 51,827 | 30,226 | |||||||
Less: Accumulated amortization | -23,321 | -22,612 | |||||||
28,506 | 7,614 | ||||||||
Total finite-lived intangible assets, net | 4,181,640 | 4,405,662 | |||||||
Total other intangible assets, net | $ | 4,511,861 | $ | 4,737,833 | |||||
Goodwill related to the Mirage Resorts acquisition relates to Bellagio and The Mirage. Goodwill related to the Mandalay Resort Group acquisition relates to Gold Strike Tunica. | |||||||||
The Company’s indefinite-lived intangible assets consist primarily of development rights in Detroit, trademarks and license rights, of which $213 million consists of trademarks and trade names related to the Mandalay Resort Group acquisition. | |||||||||
Gaming subconcession. Pursuant to the agreement dated June 19, 2004 between MGM Grand Paradise and Sociedade de Jogos de Macau, S.A. (“SJM”), a gaming subconcession was acquired by MGM Grand Paradise for the right to operate casino games of chance and other casino games for a period of 15 years commencing on April 20, 2005. The Company cannot provide any assurance that the gaming subconcession will be extended beyond the original terms of the agreement; however, management believes that the gaming subconcession will be extended, given that the land concession agreement with the government extends significantly beyond the gaming subconcession. In addition, management believes that the fair value of MGM China reflected in the IPO pricing suggests that market participants have assumed the gaming subconcession will be extended beyond its initial term. As such, the Company was amortizing the gaming subconcession intangible asset on a straight-line basis over the initial term of the land concession through April 6, 2031. In January 2013, the Company’s Cotai land concession was gazetted by the Macau government at which time the Company determined that the estimated remaining useful life of its gaming subconcession would be extended through the initial 25-year term of the Cotai land concession, ending in January 2038. | |||||||||
Land concession. MGM Grand Paradise entered into a contract with the Macau government to use the land under MGM Macau commencing from April 6, 2006. The land use right has an initial term through April 6, 2031, subject to renewal for additional periods. The land concession intangible asset is amortized on a straight-line basis over the remaining initial contractual term. | |||||||||
Customer lists. The Company recognized an intangible asset related to customer lists, which is amortized on an accelerated basis over its estimated useful life of five years. | |||||||||
Gaming promoter relationships. The Company recognized an intangible asset related to its relationships with gaming promoters, which is amortized on a straight-line basis over its estimated useful life of four years. | |||||||||
Maryland license. In December 2013, the Company was awarded a license to operate a casino in Maryland. The consideration paid to the State of Maryland for the license fee will be considered a finite-lived intangible asset that will be amortized beginning upon the opening of the resort. | |||||||||
Other. The Company’s other finite–lived intangible assets consist primarily of lease acquisition costs amortized over the life of the related leases, and certain license rights amortized over their contractual life. | |||||||||
Total amortization expense related to intangible assets was $243 million, $321 million and $181 million for 2013, 2012, and 2011, respectively. Estimated future amortization is as follows: | |||||||||
(In thousands) | |||||||||
Years ending December 31, | |||||||||
2014 | $ | 231,545 | |||||||
2015 | 199,280 | ||||||||
2016 | 174,697 | ||||||||
2017 | 172,397 | ||||||||
2018 | 172,397 | ||||||||
Thereafter | 3,231,324 | ||||||||
$ | 4,181,640 | ||||||||
Other_Accrued_Liabilities
Other Accrued Liabilities | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Text Block [Abstract] | ' | ||||||||
Other Accrued Liabilities | ' | ||||||||
NOTE 8 — OTHER ACCRUED LIABILITIES | |||||||||
Other accrued liabilities consisted of the following: | |||||||||
At December 31, | |||||||||
2013 | 2012 | ||||||||
(In thousands) | |||||||||
Payroll and related | $ | 394,709 | $ | 368,702 | |||||
Advance deposits and ticket sales | 104,504 | 102,428 | |||||||
Casino outstanding chip liability | 409,917 | 260,957 | |||||||
Casino front money deposits | 125,180 | 131,187 | |||||||
MGM China gaming promoter commissions | 118,122 | 114,631 | |||||||
Other gaming related accruals | 137,181 | 141,195 | |||||||
Taxes, other than income taxes | 236,991 | 223,308 | |||||||
Completion guarantee liability | 97,223 | 27,867 | |||||||
Other | 146,974 | 147,690 | |||||||
$ | 1,770,801 | $ | 1,517,965 | ||||||
LongTerm_Debt
Long-Term Debt | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Debt Disclosure [Abstract] | ' | ||||||||||||
Long-Term Debt | ' | ||||||||||||
NOTE 9 — LONG-TERM DEBT | |||||||||||||
Long-term debt consisted of the following: | |||||||||||||
At December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
(In thousands) | |||||||||||||
Senior credit facility: | |||||||||||||
$2,772 million ($2,800 million at December 31, 2012) term loans, net | $ | 2,765,041 | $ | 2,791,284 | |||||||||
MGM Grand Paradise credit facility | 553,242 | 553,531 | |||||||||||
$462.2 million 6.75% senior notes, due 2013 | - | 462,226 | |||||||||||
$150 million 7.625% senior subordinated debentures, due 2013, net | - | 150,539 | |||||||||||
$508.9 million 5.875% senior notes, due 2014, net | 508,848 | 508,540 | |||||||||||
$875 million 6.625% senior notes, due 2015, net | 876,022 | 876,634 | |||||||||||
$1,450 million 4.25% convertible senior notes, due 2015, net | 1,456,153 | 1,460,780 | |||||||||||
$242.9 million 6.875% senior notes, due 2016 | 242,900 | 242,900 | |||||||||||
$732.7 million 7.5% senior notes, due 2016 | 732,749 | 732,749 | |||||||||||
$500 million 10% senior notes, due 2016, net | 496,987 | 496,110 | |||||||||||
$743 million 7.625% senior notes, due 2017 | 743,000 | 743,000 | |||||||||||
$475 million 11.375% senior notes, due 2018, net | 467,451 | 466,117 | |||||||||||
$850 million 8.625% senior notes, due 2019 | 850,000 | 850,000 | |||||||||||
$500 million 5.25% senior notes, due 2020 | 500,000 | - | |||||||||||
$1,000 million 6.75% senior notes, due 2020 | 1,000,000 | 1,000,000 | |||||||||||
$1,250 million 6.625% senior notes, due 2021 | 1,250,000 | 1,250,000 | |||||||||||
$1,000 million 7.75% senior notes, due 2022 | 1,000,000 | 1,000,000 | |||||||||||
$0.6 million 7% debentures, due 2036, net | 572 | 572 | |||||||||||
$4.3 million 6.7% debentures, due 2096 | 4,265 | 4,265 | |||||||||||
Other notes | - | 36 | |||||||||||
$ | 13,447,230 | $ | 13,589,283 | ||||||||||
Debt due within one year of the December 31, 2013 balance sheet date is classified as long-term because the Company has both the intent and ability to refinance such amounts on a long-term basis. | |||||||||||||
Interest expense, net consisted of the following: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
(In thousands) | |||||||||||||
Total interest incurred | $ | 862,417 | $ | 1,117,327 | $ | 1,086,865 | |||||||
Interest capitalized | -5,070 | -969 | -33 | ||||||||||
$ | 857,347 | $ | 1,116,358 | $ | 1,086,832 | ||||||||
Senior credit facility. At December 31, 2013, the Company’s senior credit facility consisted of a $1.2 billion revolving credit facility, a $1.04 billion term loan A facility and a $1.73 billion term loan B facility. The revolving and term loan A facilities bear interest at LIBOR plus an applicable rate determined by the Company’s credit rating (2.75% as of December 31, 2013). The term loan B facility was re-priced in May 2013 and bears interest at LIBOR plus 2.50%, with a LIBOR floor of 1.00% (3.50% as of December 31, 2013). As a result of the May 2013 re-pricing, the Company recorded a loss of $4 million on retirement of debt in “Other, net.” The revolving and term loan A facilities mature in December 2017 and the term loan B facility matures in December 2019. The term loan A and term loan B facilities are subject to scheduled amortization payments on the last day of each calendar quarter from and after March 31, 2013 in an amount equal to 0.25% of the original principal balance. The Company permanently repaid $28 million in 2013, in accordance with the scheduled amortization. The Company had $1.2 billion of available borrowing capacity under its senior credit facility at December 31, 2013. At December 31, 2013, the interest rate on the term loan A was 2.92% and the interest rate on the term loan B was 3.50%. The Company’s senior credit facility was amended and restated in February 2012 and again in December 2012. In connection with these transactions the Company recorded losses on retirements of debt of $107 million in “Other, net” during 2012 related to previously recorded discounts and certain debt issuance costs. | |||||||||||||
The land and substantially all of the assets of MGM Grand Las Vegas, Bellagio and The Mirage secure up to $3.35 billion of obligations outstanding under the senior credit facility. In addition, the land and substantially all of the assets of New York-New York and Gold Strike Tunica secure the entire amount of the senior credit facility and the land and substantially all of the assets of MGM Grand Detroit secure its $450 million of obligations as a co-borrower under the senior credit facility. In addition, the senior credit facility is secured by a pledge of the equity or limited liability company interests of the subsidiaries that own the pledged properties. | |||||||||||||
The senior credit facility contains customary representations and warranties and customary affirmative and negative covenants. In addition, the senior credit facility requires the Company and its restricted subsidiaries to maintain a minimum trailing four-quarter EBITDA and limits the ability of the Company and its restricted subsidiaries to make capital expenditures and investments. As of December 31, 2013, the Company and its restricted subsidiaries are required to maintain a minimum EBITDA (as defined) of $1.05 billion. The minimum EBITDA increases to $1.10 billion for March 31, 2014 and June 30, 2014 and to $1.20 billion for September 30, 2014 and December 31, 2014, with periodic increases thereafter. EBITDA for the trailing twelve months ended December 31, 2013 calculated in accordance with the terms of the senior credit facility was $1.31 billion. The senior credit facility limits the Company and its restricted subsidiaries to capital expenditures of $500 million per fiscal year, with unused amounts in any fiscal year rolling over to the next fiscal year, but not any fiscal year thereafter. In addition, the senior credit facility limits the Company’s ability to make investments subject to certain thresholds and other important exceptions. The Company and its restricted subsidiaries were within the limit of capital expenditures for the calendar year 2013. | |||||||||||||
The senior credit facility provides for customary events of default, including, without limitation, (i) payment defaults, (ii) covenant defaults, (iii) cross-defaults to certain other indebtedness in excess of specified amounts, (iv) certain events of bankruptcy and insolvency, (v) judgment defaults in excess of specified amounts, (vi) the failure of any loan document by a significant party to be in full force and effect and such circumstance, in the reasonable judgment of the required lenders, is materially adverse to the lenders, or (vii) the security documents cease to create a valid and perfected first priority lien on any material portion of the collateral. In addition, the senior credit facility provides that a cessation of business due to revocation, suspension or loss of any gaming license affecting a specified amount of its revenues or assets, will constitute an event of default. | |||||||||||||
MGM China credit facility. At December 31, 2013, the MGM China credit facility consisted of approximately $550 million of term loans and an approximately $1.45 billion revolving credit facility due October 2017. The credit facility is subject to scheduled amortization payments beginning in 2016. The outstanding balance at December 31, 2013 was comprised solely of term loans. The interest rate on the facility fluctuates annually based on HIBOR plus a margin, which ranges between 1.75% and 2.50%, based on MGM China’s leverage ratio. The margin was 1.75% at December 31, 2013. MGM China is a joint and several co-borrower with MGM Grand Paradise. MGM Grand Paradise’s interest in the Cotai land use right agreement will become collateral under the MGM China credit facility upon finalization of the appropriate government approvals. The material subsidiaries of MGM China continue to guarantee the facilities, and MGM China, MGM Grand Paradise and their guarantor subsidiaries have granted a security interest in substantially all of their assets to secure the amended facilities. The credit facility will be used for general corporate purposes and for the development of the Cotai project. | |||||||||||||
The MGM China credit facility agreement contains customary representations and warranties, events of default, affirmative covenants and negative covenants, which impose restrictions on, among other things, the ability of MGM China and its subsidiaries to make investments, pay dividends and sell assets, and to incur additional debt and additional liens. MGM China is also required to maintain compliance with a maximum consolidated total leverage ratio of 4.50 to 1.00 prior to the first anniversary of the MGM Cotai opening date and 4.00 to 1.00 thereafter, in addition to a minimum interest coverage ratio of 2.50 to 1.00. MGM China was in compliance with its credit facility covenants at December 31, 2013. | |||||||||||||
Senior Notes. During 2013, the Company repaid its $462 million 6.75% senior notes and $150 million 7.625% senior subordinated debentures at maturity. In 2012, the Company repaid the $535 million of outstanding principal amount of its 6.75% senior notes at maturity. | |||||||||||||
In 2013, the Company issued $500 million of 5.25% senior notes, due 2020 for net proceeds of $494 million. The Company issued the following senior notes in 2012: | |||||||||||||
• | $850 million of 8.625% senior notes due 2019 for net proceeds of $836 million; | ||||||||||||
• | $1.0 billion of 7.75% senior notes due 2022 for net proceeds of $986 million; | ||||||||||||
• | $1.0 billion of 6.75% senior notes due 2020 for net proceeds of $986 million; and | ||||||||||||
• | $1.25 billion of 6.625% senior notes due 2021 for net proceeds of $1.23 billion. | ||||||||||||
The senior notes are unsecured and otherwise rank equally in right of payment with the Company’s existing and future indebtedness. | |||||||||||||
Tender offers. In December 2012, the Company completed the early settlement of its tender offers for its 13% senior secured notes due 2013, 10.375% senior secured notes due 2014, 11.125% senior secured notes due 2017 and 9% senior secured notes due 2020 and called for redemption of all of the secured notes that were not purchased on the early settlement date and satisfied and discharged the indentures governing the secured notes. As a result of the redemption and the satisfaction and discharge of the secured notes indentures, the Company was released from its obligations under the indentures and all of the collateral securing those notes was released. The Company recorded a loss on retirement of the secured notes of $457 million in “Other, net” which included $379 million of premiums paid to redeem or discharge the debt, the write-off of $75 million of previously recorded discounts and debt issuance costs, and $3 million of other costs in 2012. | |||||||||||||
Senior convertible notes. In April 2010, the Company issued $1.15 billion of 4.25% convertible senior notes due 2015 for net proceeds to the Company of $1.12 billion. The notes are general unsecured obligations of the Company and rank equally in right of payment with the Company’s other existing senior unsecured indebtedness. The Company used the net proceeds from the senior convertible note issuance to temporarily repay amounts outstanding under its senior credit facility. | |||||||||||||
The notes are convertible at an initial conversion rate of approximately 53.83 shares of the Company’s common stock per $1,000 principal amount of the notes, representing an initial conversion price of approximately $18.58 per share of the Company’s common stock. The initial conversion rate was determined based on the closing trading price of the Company’s common stock on the date of the transaction, plus a 27.5% premium. The terms of the notes do not provide for any beneficial conversion features. | |||||||||||||
In connection with the offering, the Company entered into capped call transactions to reduce the potential dilution of the Company’s stock upon conversion of the notes. The capped call transactions have a cap price equal to approximately $21.86 per share. The Company paid approximately $81 million for the capped call transactions, which is reflected as a decrease in “Capital in excess of par value,” net of $29 million of associated tax benefits. | |||||||||||||
Financial instruments that are indexed to an entity’s own stock and are classified as stockholders’ equity in an entity’s statement of financial position are not considered within the scope of derivative instruments. The Company performed an evaluation of the embedded conversion option and capped call transactions, which included an analysis of contingent exercise provisions and settlement requirements, and determined that the embedded conversion option and capped call transactions are considered indexed to the Company’s stock and should be classified as equity, and therefore are not accounted for as derivative instruments. Accordingly, the entire face amount of the notes was recorded as debt until converted or retired at maturity, and the capped call transactions were recorded within equity as described above. | |||||||||||||
In June 2011, the Company sold an additional $300 million in aggregate principal amount of the Company’s 4.25% convertible senior notes due 2015 (the “Notes”) on terms that were consistent with those governing the Company’s existing convertible senior notes due 2015 for a purchase price of 103.805% of the principal amount to an indirect wholly owned subsidiary of Ms. Pansy Ho in a transaction exempt from registration under the Securities Act of 1933, as amended. The Notes are convertible at an initial conversion rate, subject to adjustment under certain circumstances, of approximately 53.83 shares of the Company’s common stock per $1,000 principal amount of the Notes. The Company received approximately $311 million in proceeds related to this transaction. The initial agreement to sell the Notes occurred in April 2011, and the Notes were not sold until June 2011. The agreement to issue the Notes at a later date based on the fixed terms described above constituted a derivative instrument. At issuance, the fair value of the derivative instrument was equal to the difference between the fair value of the Notes and the Notes’ issuance price. The Notes were recorded at fair value determined by the trading price (105.872%) of the Company’s existing convertible notes on the date of issuance of the Notes, with the difference recorded as a premium to be recognized over the term of the Notes. The Company recorded a loss of $6 million related to the change in fair value of the derivative in “Other, net” non-operating expense during 2011. | |||||||||||||
Maturities of long-term debt. Maturities of the Company’s long-term debt as of December 31, 2013 are as follows: | |||||||||||||
(In thousands) | |||||||||||||
Years ending December 31, | |||||||||||||
2014 | $ | 536,900 | |||||||||||
2015 | 2,353,000 | ||||||||||||
2016 | 1,641,959 | ||||||||||||
2017 | 2,183,432 | ||||||||||||
2018 | 492,500 | ||||||||||||
Thereafter | 6,249,817 | ||||||||||||
13,457,608 | |||||||||||||
Debt premiums and discounts, net | -10,378 | ||||||||||||
$ | 13,447,230 | ||||||||||||
Fair value of long-term debt. The estimated fair value of the Company’s long-term debt at December 31, 2013 was approximately $14.9 billion. The estimated fair value of the Company’s long-term debt at December 31, 2012 was approximately $14.3 billion. Fair value was estimated using quoted market prices for the Company’s senior notes, senior subordinated notes and senior credit facility. Carrying value of the MGM Grand Paradise credit facility approximates fair value. |
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Income Taxes | ' | ||||||||||||
NOTE 10 — INCOME TAXES | |||||||||||||
The Company recognizes deferred income tax assets, net of applicable reserves, related to net operating loss 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. | |||||||||||||
Consolidated income (loss) before taxes for domestic and foreign operations consisted of the following: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
(In thousands) | |||||||||||||
Domestic operations | $ | (419,316) | $ | -2,048,868 | $ | -902,613 | |||||||
Foreign operations | 507,081 | 314,655 | 3,734,244 | ||||||||||
$ | 87,765 | $ | (1,734,213) | $ | 2,831,631 | ||||||||
The income tax benefit (provision) attributable to income (loss) before income taxes is as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
(In thousands) | |||||||||||||
Federal | |||||||||||||
Current | $ | 3,532 | $ | 1,636 | $ | -1,237 | |||||||
Deferred (excluding separate components) | 455,610 | 602,668 | 57,573 | ||||||||||
Deferred—operating loss carryforward | -305,760 | 89,954 | 260,167 | ||||||||||
Deferred—valuation allowance | -134,027 | -608,015 | - | ||||||||||
Other noncurrent | 14,523 | -1,587 | -2,812 | ||||||||||
Benefit for federal income taxes | 33,878 | 84,656 | 313,691 | ||||||||||
State | |||||||||||||
Current | -1,812 | -3,466 | -4,482 | ||||||||||
Deferred (excluding separate components) | 1,753 | 24,104 | 9,472 | ||||||||||
Deferred—operating loss carryforward | 393 | 9,221 | -3,357 | ||||||||||
Deferred—valuation allowance | -4,374 | -2,579 | -7,787 | ||||||||||
Deferred—enacted changes in tax laws or rates | - | - | -12,743 | ||||||||||
Other noncurrent | 880 | -5,493 | -1,320 | ||||||||||
Benefit (provision) for state income taxes | -3,160 | 21,787 | -20,217 | ||||||||||
Foreign | |||||||||||||
Current | -2,214 | -3,217 | -3,800 | ||||||||||
Deferred (excluding separate components) | -70,440 | 12,471 | 113,639 | ||||||||||
Deferred—operating loss carryforward | 1,312 | -782 | - | ||||||||||
Deferred—valuation allowance | 9,361 | 2,386 | - | ||||||||||
Benefit (provision) for foreign income taxes | -61,981 | 10,858 | 109,839 | ||||||||||
$ | (31,263) | $ | 117,301 | $ | 403,313 | ||||||||
A reconciliation of the federal income tax statutory rate and the Company’s effective tax rate is as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Federal income tax statutory rate | 35.0 | % | 35.0 | % | 35.0 | % | |||||||
Foreign tax credit, net of valuation allowance | -523.3 | 19.8 | - | ||||||||||
Repatriation of foreign earnings | 523.3 | -19.2 | - | ||||||||||
Federal valuation allowance | 152.7 | -35.1 | - | ||||||||||
State income tax, net of federal benefit and valuation allowance | 2.3 | 0.8 | 0.5 | ||||||||||
Settlements with taxing authorities | -16.6 | - | - | ||||||||||
Macau deferred tax liability re-measurement | 68.1 | - | - | ||||||||||
Foreign jurisdiction income/losses taxed at other than 35% | -199.7 | 7.0 | -2.1 | ||||||||||
Foreign jurisdiction tax rate change | - | - | -4.6 | ||||||||||
MGM China acquisition gain | - | - | -43.2 | ||||||||||
Tax credits | -9.3 | 0.5 | -0.2 | ||||||||||
Permanent and other items | 3.1 | -2 | 0.4 | ||||||||||
35.6 | % | 6.8 | % | (14.2) | % | ||||||||
The major tax-effected components of the Company’s net deferred tax liability are as follows: | |||||||||||||
At December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
(In thousands) | |||||||||||||
Deferred tax assets—federal and state: | |||||||||||||
Senior secured notes retirement | $ | 647 | $ | 233,312 | |||||||||
Bad debt reserve | 37,327 | 38,048 | |||||||||||
Deferred compensation | 3,680 | 3,080 | |||||||||||
Net operating loss carryforward | 304,077 | 601,226 | |||||||||||
Accruals, reserves and other | 148,438 | 88,097 | |||||||||||
Investments in unconsolidated affiliates | 282,258 | 338,945 | |||||||||||
Stock-based compensation | 31,185 | 36,728 | |||||||||||
Tax credits | 1,796,599 | 820,299 | |||||||||||
2,604,211 | 2,159,735 | ||||||||||||
Less: Valuation allowance | -1,665,846 | -1,032,423 | |||||||||||
938,365 | 1,127,312 | ||||||||||||
Deferred tax assets—foreign: | |||||||||||||
Bad debt reserve | 333 | 1,477 | |||||||||||
Net operating loss carryforward | 55,834 | 50,075 | |||||||||||
Accruals, reserves and other | 154 | 1,439 | |||||||||||
Property and equipment | 11,204 | 10,218 | |||||||||||
67,525 | 63,209 | ||||||||||||
Less: Valuation allowance | -56,071 | -60,975 | |||||||||||
11,454 | 2,234 | ||||||||||||
Total deferred tax assets | $ | 949,819 | $ | 1,129,546 | |||||||||
Deferred tax liabilities—federal and state: | |||||||||||||
Property and equipment | -2,488,287 | -2,505,602 | |||||||||||
Long-term debt | -360,666 | -550,811 | |||||||||||
Cost method investments | -23,944 | -8,323 | |||||||||||
Intangibles | -105,231 | -103,094 | |||||||||||
-2,978,128 | -3,167,830 | ||||||||||||
Deferred tax liabilities—foreign: | |||||||||||||
Intangibles | -321,116 | -256,174 | |||||||||||
-321,116 | -256,174 | ||||||||||||
Total deferred tax liability | $ | -3,299,244 | $ | -3,424,004 | |||||||||
Net deferred tax liability | $ | (2,349,425) | $ | (2,294,458) | |||||||||
Income generated from gaming operations of MGM Grand Paradise, which is wholly owned by MGM China, is exempted from Macau’s 12% complementary tax for the five-year period ending December 31, 2016, pursuant to approval from the Macau government, granted on September 22, 2011. Absent this exemption, “Net income attributable to MGM Resorts International” would have been reduced by $43 million and $34 million for 2013 and 2012, respectively, and net income per share (diluted) would have been reduced by $0.09 and $0.07 for 2013 and 2012, respectively. The approval granted in 2011 represented the second five-year exemption period granted to MGM Grand Paradise. The Company measures the net deferred tax liability of MGM Grand Paradise under the assumption that it will receive an additional five-year exemption beyond 2016. Such assumption is based upon the granting of a third five-year exemption to a competitor of MGM Grand Paradise. The Company believes MGM Grand Paradise should also be entitled to a third five-year exemption in order to ensure non-discriminatory treatment among gaming concessionaires and subconcessionaires, a requirement under Macanese law. The net deferred tax liability of MGM Grand Paradise was re-measured during the first quarter of 2013 due to the extension of the amortization period of the Macau gaming subconcession in connection with the effectiveness of the Cotai land concession. This resulted in an increase in the net deferred tax liability and a corresponding increase in provision for income taxes of $65 million in 2013. | |||||||||||||
Non-gaming operations remain subject to the Macau complementary tax. MGM Grand Paradise had at December 31, 2013 a complementary tax net operating loss carryforward of $459 million resulting from non-gaming operations that will expire if not utilized against non-gaming income in years 2014 through 2016. The Macanese net operating loss carryforwards are fully offset by a valuation allowance. | |||||||||||||
MGM Grand Paradise’s exemption from the Macau 12% complementary tax on gaming profits does not apply to dividend distributions of such profits to MGM China. However, in June 2012, MGM Grand Paradise reached an agreement with the Macau government to settle the 12% complementary tax that would otherwise be due by its shareholders (including MGM China) on distributions of its gaming profits by paying a flat annual payment (“annual fee arrangement”) regardless of the amount of distributable dividends. Such annual fee arrangement covered the years 2007 through 2011, including a distribution that was made during the first quarter of 2012 (the “covered period”). Cumulative annual payments of $4 million for the covered period were paid, and a corresponding reduction to benefit for income taxes was recorded in 2012. Shareholders of MGM Grand Paradise are not subject to the complementary tax on distributions they received during the covered period as a result of the annual fee arrangement. Consequently, the Company reversed complementary taxes previously accrued on such distributions resulting in a $19 million increase to benefit for income taxes in 2012. MGM Grand Paradise submitted a request for a five-year extension of the annual fee arrangement covering all years through 2016 (“extended annual fee arrangement”), which was approved by the Macau government in December 2012. Annual payments of $2 million are required under the extended annual fee arrangement. The $2 million annual payment for 2013 and 2012 was accrued and a corresponding provision for income taxes was recorded in each year. | |||||||||||||
The Company repatriated $312 and $263 million of foreign earnings and profits in 2013 and 2012, respectively. At December 31, 2013, there are approximately $282 million of unrepatriated foreign earnings and profits, all of which the Company anticipates will be repatriated in 2014 without the incurrence of additional U.S. income tax expense. Accordingly, no deferred tax liability has been recorded for those earnings. Creditable foreign taxes associated with the repatriated earnings and profits increased the Company’s foreign tax credit carryover by $968 million and $785 million in 2013 and 2012, respectively. Such foreign taxes consist of the Macau Special Gaming Tax, which the Company believes qualifies as a tax paid in lieu of an income tax that is creditable against U.S. income taxes. The foreign tax credit carryovers expire as follows: $2 million in 2015; $785 million in 2022; and $968 million in 2023. The foreign tax credit carryovers are subject to valuation allowance as described further below. | |||||||||||||
The Company has a U.S. federal income tax net operating loss carryforward of $808 million that will begin to expire in 2031, an alternative minimum tax credit carryforward of $24 million that will not expire, a general business tax credit carryforward of $17 million that will begin to expire in 2029 and a charitable contribution carryforward of $12 million, of which $3 million will expire in 2014 and the remainder thereafter. | |||||||||||||
At December 31, 2013, the Company is not close to the 50% ownership change threshold set forth in Internal Revenue Code section 382. Should the 50% ownership change threshold be exceeded in a future period, the Company’s U.S. federal income tax net operating losses and tax credits incurred prior to the ownership change would generally be subject to a post-change annual usage limitation equal to the value of the Company at the time of the ownership change multiplied by the long-term tax exempt rate at such time as established by the Internal Revenue Service. | |||||||||||||
For state income tax purposes, the Company has Illinois and New Jersey net operating loss carryforwards of $80 million and $231 million, respectively, which equates to deferred tax assets after federal tax effect and before valuation allowance, of $4 million and $14 million, respectively. The Illinois net operating loss carryforwards will expire if not utilized by 2021 through 2025. The New Jersey net operating loss carryforwards will expire if not utilized by 2014 through 2033. | |||||||||||||
During 2011, the state of Michigan enacted changes in its corporate tax law that became effective on January 1, 2012. The state replaced the Michigan Business Tax (“MBT”) regime with a new Corporate Income Tax (“CIT”) regime that taxes unitary combined income apportioned to the state at a 6% rate. Net operating loss carryforwards generated under the MBT, of which the Company had $198 million at December 31, 2011, may not be carried over and utilized under the CIT. Losses generated under the CIT will have a 10 year carryforward period. Furthermore, the book-tax difference deduction, which would have been available under the MBT in 2015 through 2029, is not available under the CIT. During 2011, the Company recorded an increase to the net Michigan deferred tax liability in the amount of $8 million, after federal effect, to reflect the impact of this tax law change, with a corresponding reduction to income tax benefit. | |||||||||||||
Given the negative impact of the U.S. economy on the results of operations in the past several years, the Company no longer relies on future domestic operating income in assessing the realizability of its domestic deferred tax assets and now relies only on the future reversal of existing domestic taxable temporary differences. As of December 31, 2013, the scheduled future reversal of existing U.S. federal deductible temporary differences exceeds the scheduled future reversal of existing U.S. federal taxable temporary differences and a valuation allowance is provided for this excess. At December 31, 2013, such valuation allowance was $1.65 billion. In addition, there is a $16 million valuation allowance, after federal effect, provided on certain state deferred tax assets and a valuation allowance of $56 million on certain Macau deferred tax assets because the Company believes these assets do not meet the “more likely than not” criteria for recognition. | |||||||||||||
The Company assesses its tax positions using a two-step process. A tax position is recognized if it meets a “more likely than not” threshold, and is measured at the largest amount of benefit that is greater than 50 percent likely of being realized. Uncertain tax positions must be reviewed at each balance sheet date. Liabilities recorded as a result of this analysis must generally be recorded separately from any current or deferred income tax accounts, and at December 31, 2013, the Company has classified $16 million as current in “Other accrued liabilities” and $87 million as long-term in “Other long-term obligations,” based on the time until expected payment. | |||||||||||||
A reconciliation of the beginning and ending amounts of gross unrecognized tax benefits is as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
(In thousands) | |||||||||||||
Gross unrecognized tax benefits at January 1 | $ | 153,184 | $ | 145,799 | $ | 134,417 | |||||||
Gross increases – Prior period tax positions | 6,082 | 6,903 | 9,360 | ||||||||||
Gross decreases – Prior period tax positions | -35,508 | -12,639 | -13,772 | ||||||||||
Gross increases – Current period tax positions | 4,064 | 13,121 | 15,794 | ||||||||||
Settlements with taxing authorities | -21,576 | - | - | ||||||||||
Gross unrecognized tax benefits at December 31 | $ | 106,246 | $ | 153,184 | $ | 145,799 | |||||||
The total amount of unrecognized tax benefits that, if recognized, would typically affect the effective tax rate was $32 million and $39 million at December 31, 2013 and 2012, respectively. Of these amounts, unrecognized tax benefits related to permanent differences of $6 million at both December 31, 2013 and 2012, that would otherwise impact the effective tax rate, would not impact the effective tax rate if recognized in years when the Company has a valuation allowance provided against its U.S federal deferred tax assets. | |||||||||||||
The Company recognizes accrued interest and penalties related to unrecognized tax benefits in income tax expense. The Company had $17 million and $29 million in interest related to unrecognized tax benefits accrued at December 31, 2013 and 2012, respectively. No amounts were accrued for penalties as of either date. Income tax expense for the years ended December 31, 2013, 2012 and 2011 includes interest expense or benefit related to unrecognized tax benefits as follows: $12 million benefit in 2013, $3 million expense in 2012, and none in 2011. | |||||||||||||
The Company files income tax returns in the U.S. federal jurisdiction, various state and local jurisdictions, and foreign jurisdictions, although the taxes paid in foreign jurisdictions are not material. As of December 31, 2013, the Company is no longer subject to examination of its U.S. consolidated federal income tax returns filed for years ended prior to 2005. The IRS completed its examination of the consolidated federal income tax returns for the 2003 and 2004 tax years during 2010 and the Company paid $12 million in tax and $4 million in associated interest with respect to adjustments to which the Company agreed, and protested with IRS Appeals issues to which the Company did not agree. The Company favorably settled during the first quarter of 2013 all issues on appeal with IRS Appeals resulting in a refund of $2 million, including interest. During the fourth quarter of 2010, the IRS opened an examination of the consolidated federal income tax returns for the 2005 through 2009 tax years. The IRS completed its examination during 2013 and the Company tentatively agreed to all proposed adjustments. This agreement is subject to final approval from the Joint Committee on Taxation and the examination will not be considered settled until such approval is received, which is anticipated to occur in the next 12 months. The Company deposited $30 million with the IRS to cover the expected cash taxes and interest resulting from the tentatively agreed adjustments for this examination and the examinations discussed below. | |||||||||||||
During the first quarter of 2011, the IRS opened examinations of the 2007 through 2008 tax years of CityCenter Holdings, LLC, an unconsolidated affiliate treated as a partnership for income tax purposes and the 2008 through 2009 tax years of MGM Grand Detroit, LLC, a subsidiary treated as a partnership for income tax purposes. The IRS completed these examinations in 2013 and the Company agreed to all proposed adjustments. The impact of these adjustments is included in the $30 million deposit described above. | |||||||||||||
During the fourth quarter of 2010, the Company and its joint venture partner reached tentative settlement with IRS Appeals with respect to the audit of the 2003 and 2004 tax years of a cost method investee that is treated as a partnership for income tax purposes. The adjustments to which the Company agreed in such tentative settlement were included in the final settlement reached with IRS Appeals with respect to the 2003 and 2004 examination of the consolidated federal income tax return. The IRS completed during 2013 its examination of the 2005 through 2009 tax years of this investee and the Company agreed to all proposed adjustments. The impact of these adjustments is included in the $30 million deposit described above. | |||||||||||||
As of December 31, 2013, other than adjustments resulting from the federal income tax audits discussed above and the exceptions noted below, the Company was no longer subject to examination of its various state and local tax returns filed for years ended prior to 2009. The state of Michigan initiated during the second quarter of 2013 a review of the Michigan Business Tax returns of MGM Grand Detroit, LLC for the 2009 through 2011 tax years to determine whether to open an examination of one or more of these years but has not yet indicated whether such an examination will take place. During 2010, the state of Illinois initiated an audit of the Company’s Illinois combined returns for the 2006 and 2007 tax years. Such audit closed in 2012 resulting in an immaterial refund of taxes from such years. During 2010, the state of New Jersey began audit procedures of a cost method investee for the 2003 through 2006 tax years. No other state or local income tax returns are currently under examination. | |||||||||||||
The Company believes that it is reasonably possible that the total amounts of unrecognized tax benefits at December 31, 2013 may decrease by up to $82 million within the next twelve months on the expectation during such period of settlement of the IRS examination of the 2005 through 2009 consolidated federal income tax returns by virtue of final approval from the Joint Committee on Taxation of the findings of the IRS examination team. |
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Commitments And Contingencies Disclosure [Abstract] | ' | ||||||||
Commitments and Contingencies | ' | ||||||||
NOTE 11 – COMMITMENTS AND CONTINGENCIES | |||||||||
Leases. The Company leases real estate and various equipment under operating and, to a lesser extent, capital lease arrangements. Certain real estate leases provide for escalation of rent based upon a specified price index and/or based upon periodic appraisals. | |||||||||
At December 31, 2013, the Company was obligated under non-cancellable operating leases and capital leases to make future minimum lease payments as follows: | |||||||||
Operating | Capital | ||||||||
Leases | Leases | ||||||||
(In thousands) | |||||||||
2014 | $ | 42,951 | $ | 965 | |||||
2015 | 42,164 | 878 | |||||||
2016 | 41,387 | 234 | |||||||
2017 | 16,322 | - | |||||||
2018 | 17,739 | - | |||||||
Thereafter | 1,095,046 | - | |||||||
Total minimum lease payments | $ | 1,255,609 | 2,077 | ||||||
Less: Amounts representing interest | -99 | ||||||||
Total obligations under capital leases | 1,978 | ||||||||
Less: Amounts due within one year | -898 | ||||||||
Amounts due after one year | $ | 1,080 | |||||||
The current and long-term obligations under capital leases are included in “Other accrued liabilities” and “Other long-term obligations,” respectively. Rental expense for operating leases was $41 million for 2013, $33 million for 2012 and $30 million for 2011, which included short term rentals charged to rent expense. In 2013, rental expense includes $7 million related to the Cotai land concession. The Company accounts for the Cotai land concession contract as an operating lease for which the required upfront payments are amortized over the initial 25-year contract term. Rent recognized for the Cotai land concession is included in “Preopening and start-up expenses” prior to opening. | |||||||||
In April 2013, the Company entered into a ground lease agreement for an approximate 23 acre parcel of land in connection with the MGM National Harbor project. In December 2013, the Company was awarded a license to operate a casino in Maryland. The ground lease will be accounted for as an operating lease with rent beginning once all land use entitlements have been received. The Company expects to receive all land use entitlements by July 2014. | |||||||||
Cotai land concession contract. MGM Grand Paradise’s land concession contract for an approximate 17.8 acre site in Cotai, Macau became effective on January 9, 2013 and has an initial term of 25 years. The total land premium payable to the Macau government for the land concession contract is $161 million and is composed of a down payment and eight additional semi-annual payments. As of December 31, 2013, MGM China had paid $71 million of the contract premium recorded within other long-term assets, net. In January 2014, MGM China paid the second semi-annual payment of $15 million under the land concession contract. Including interest on the six remaining semi-annual payments, MGM China has approximately $88 million remaining payable for the land concession contract. In addition, MGM Grand Paradise is required to pay the Macau government approximately $269,000 per year in rent during the course of development of the land and approximately $681,000 per year in rent once the development is completed. The annual rent is subject to review by the Macau government every five years. Under the terms of the land concession contract, MGM Grand Paradise is required to complete the development of the land by January 2018. | |||||||||
CityCenter construction litigation. In March 2010, Perini Building Company, Inc. (“Perini”), general contractor for CityCenter, filed a lawsuit in the Eighth Judicial District Court for Clark County, State of Nevada, against MGM MIRAGE Design Group (a wholly owned subsidiary of the Company which was the original party to the Perini construction agreement) and certain direct or indirect subsidiaries of CityCenter Holdings, LLC (the “CityCenter Owners”). Perini asserted that CityCenter was substantially completed, but the defendants failed to pay Perini approximately $490 million allegedly due and owing under the construction agreement for labor, equipment and materials expended on CityCenter. The complaint further charged the defendants with failure to provide timely and complete design documents, late delivery to Perini of design changes, mismanagement of the change order process, obstruction of Perini’s ability to complete the Harmon component, and fraudulent inducement of Perini to compromise significant amounts due for its general conditions. The complaint advanced claims for breach of contract, breach of the implied covenant of good faith and fair dealing, tortious breach of the implied covenant of good faith and fair dealing, unjust enrichment and promissory estoppel, and fraud and intentional misrepresentation. Perini seeks compensatory damages, punitive damages, attorneys’ fees and costs. | |||||||||
In April 2010, Perini served an amended complaint in this case, which joins as defendants many owners of CityCenter residential condominium units (the “Condo Owner Defendants”), added a count for foreclosure of Perini's recorded master mechanic’s lien against the CityCenter property in the amount of approximately $491 million, and asserted the priority of this mechanic’s lien over the interests of the CityCenter Owners, the Condo Owner Defendants and CityCenter lenders in the CityCenter property. | |||||||||
The CityCenter Owners and the other defendants dispute Perini’s allegations and contend that the defendants are entitled to substantial amounts from Perini, including offsets against amounts claimed to be owed to Perini and its subcontractors and damages based on breach of their contractual and other duties to CityCenter, duplicative payment requests, non-conforming work, lack of proof of alleged work performance, defective work related to the Harmon, property damage and Perini’s failure to perform its obligations to pay certain subcontractors and to prevent filing of liens against CityCenter. Parallel to the court litigation, CityCenter management conducted an extra-judicial program for settlement of CityCenter subcontractor claims. CityCenter has resolved the claims of 219 first-tier Perini subcontractors (including the claims of any lower-tier subcontractors that might have claims through those first-tier subcontractors), with only three remaining for further proceedings along with trial of Perini’s claims and CityCenter’s Harmon-related counterclaim and other claims by CityCenter against Perini and its parent guarantor, Tutor Perini. Two of the remaining subcontractors are implicated in the defective work at the Harmon. In August 2013, Perini recorded an amended notice of lien reducing its lien to approximately $167 million. | |||||||||
In November 2012, Perini filed a second amended complaint which, among other things, added claims against the CityCenter defendants of breach of contract (alleging that CityCenter’s Owner Controlled Insurance Program (“OCIP”) failed to provide adequate project insurance for Perini with broad coverages and high limits), and tortious breach of the implied covenant of good faith and fair dealing (alleging improper administration by CityCenter of the OCIP and Builders Risk insurance programs). | |||||||||
CityCenter reached a settlement agreement with certain professional service providers against whom it had asserted claims in this litigation for errors or omissions with respect to the CityCenter project, which settlement has been approved by the court. Further, CityCenter and Perini have entered a settlement agreement which resolves most but not all of the components of Perini’s non-Harmon-related lien claim against CityCenter. Pursuant to the parties’ stipulation, on February 24, 2014, Perini filed a revised lien for $174 million as the amount claimed by Perini and the remaining Harmon-related subcontractors. Trial of the remainder of Perini’s lien claim, the remaining subcontractors’ claims against CityCenter, and CityCenter’s counterclaims against Perini and certain subcontractors for defective work at the Harmon has been rescheduled to commence on September 23, 2014. | |||||||||
CityCenter Owners and the other defendants will continue to vigorously assert and protect their interests in the Perini lawsuit. The Company believes it is probable that the CityCenter Owners and the other defendants will be liable for $152 million in connection with the non-Harmon settlement agreement and remaining claims in this lawsuit. Amounts determined to be owed would be funded in part under the Company’s completion guarantee which is discussed below. The Company does not believe it is reasonably possible it will be liable for any material amount in excess of its estimate of its probable liability. The Company’s estimate of its probable liability does not include any offset for amounts that may be recovered on its counterclaims against Perini and certain subcontractors for defective work at the Harmon. | |||||||||
Please see below for further discussion on the Company’s completion guarantee obligation which may be impacted by the outcome of the above litigation and the joint venture’s extra-judicial settlement process. | |||||||||
CityCenter completion guarantee. In October 2013, the Company entered into a third amended and restated completion and cost overrun guarantee, which is collateralized by substantially all of the assets of Circus Circus Las Vegas, as well as certain undeveloped land adjacent to that property. The terms of the amended and restated completion guarantee provide CityCenter the ability to utilize up to $72 million of net residential proceeds to fund construction costs, or to reimburse the Company for construction costs previously expended. As of December 31, 2013, CityCenter is holding approximately $72 million in a separate bank account representing the remaining condo proceeds available to fund completion guarantee obligations or be reimbursed to the Company. In accordance with the amended and restated completion guarantee, such amounts may only be used to fund construction lien obligations or to reimburse the Company once the Perini litigation is settled. | |||||||||
As of December 31, 2013, the Company has funded $716 million under the completion guarantee and has accrued a liability of $97 million, which includes estimated litigation costs related to the resolution of disputes with contractors concerning the final construction costs and estimated amounts to be paid to contractors through the legal process related to the Perini litigation. The Company does not believe it is reasonably possible it could be liable for amounts in excess of what it has accrued. The Company’s estimated obligation has been offset by the $72 million of condominium proceeds received and held in escrow by CityCenter, which are available to fund construction lien claims upon the resolution of the Perini litigation. Also, the Company’s accrual reflects certain estimated offsets to the amounts claimed by the contractors. Moreover, the Company has not accrued for any contingent payments to CityCenter related to the Harmon component. | |||||||||
Harmon demolition. In response to a request by the Clark County Building Division (the “Building Division”), CityCenter engaged an engineer to conduct an analysis, based on all available information, as to the structural stability of the Harmon under building-code-specified load combinations. On July 11, 2011, that engineer submitted the results of his analysis of the Harmon tower and podium in its current as-built condition. The engineer opined, among other things, that “[i]n a code-level earthquake, using either the permitted or current code specified loads, it is likely that critical structural members in the tower will fail and become incapable of supporting gravity loads, leading to a partial or complete collapse of the tower. There is missing or misplaced reinforcing steel in columns, beams, shear walls, and transfer walls throughout the structure of the tower below the twenty-first floor.” Based on this engineering opinion, the Building Division requested a plan of action from CityCenter. CityCenter informed the Building Division that it decided to abate the potential for structural collapse of the Harmon in the event of a code-level earthquake by demolishing the building, and enclosed a plan of action for demolition by implosion prepared by LVI Environmental Services of Nevada, Inc (“LVI”). CityCenter also advised that prior to undertaking the demolition plan of action, it would seek relief from a standing order of the district court judge presiding over the Perini litigation that prohibits alteration or destruction of the building without court approval. In addition, CityCenter supplied the foundational data for the engineering conclusions stated in the July 11, 2011 letter declaring the Harmon’s structural instability in the event of a code-level earthquake. On November 22, 2011, the Building Division required that CityCenter submit a plan to abate the code deficiencies discovered in the Harmon tower. | |||||||||
In December 2011, CityCenter resubmitted to the Building Division the plan of abatement action prepared by LVI which was first submitted on August 15, 2011, and met with the Building Division about the requirements necessary to obtain demolition permits and approvals. As discussed above, the timing of the demolition of the Harmon is subject to rulings in the Perini litigation. | |||||||||
The district court presiding over the Perini litigation had previously granted CityCenter’s motion to demolish the Harmon, but stayed the demolition to allow CityCenter an opportunity to conduct additional Phase 4 destructive testing at the Harmon following the court’s order prohibiting CityCenter’s structural engineering expert from extrapolating the results of pre-Phase 4 testing to untested portions of the building. | |||||||||
In May 2013, CityCenter completed additional Phase 4 destructive testing of 468 structural elements at the Harmon, analysis of which data confirmed the existence of a wide variety of construction defects throughout the Harmon tower. In his June 2013 expert report CityCenter’s structural engineer opined that the additional test results and extrapolation thereof to untested portions of the building show that after a service-level earthquake (typically defined as an earthquake with a 50% chance of occurring in 30 years), the Harmon can be expected to sustain extensive damage and failure of many structural elements, and in a large earthquake, such as a building code-level earthquake, critical elements of the Harmon are likely to fail and lead to a partial or complete collapse of the tower. In April 2013, Perini’s structural engineering expert John A. Martin & Associates (“JAMA”) had sent a letter to the Building Division which declared in part that JAMA no longer believes that the Harmon Tower can be repaired to a code compliant structure, which condition JAMA attributed to CityCenter’s building testing. On July 18, 2013 CityCenter filed a renewed motion with the district court for permission to demolish the Harmon. On August 23, 2013, the court granted CityCenter’s motion, and CityCenter has commenced planning for demolition of the building. On January 31, 2014, the court revoked its prior authorization of demolition of the Harmon, without prejudice to renewal of the application, on the grounds that CityCenter’s non-party builder’s risk insurer requested further testing in the building. | |||||||||
The Company does not believe it would be responsible for funding any additional remediation efforts under the completion guarantee that might be required with respect to the Harmon; however, the Company’s view is based on a number of developing factors, including with respect to on-going litigation with CityCenter’s contractors, actions by local officials and other developments related to the CityCenter venture, all of which are subject to change. | |||||||||
Sales and use tax on complimentary meals. In March 2008, the Nevada Supreme Court ruled, in a case involving another gaming company, that food and non-alcoholic beverages purchased for use in providing complimentary meals to customers and to employees were exempt from use tax. The Company had previously paid use tax on these items and had generally filed for refunds for the periods from January 2001 to February 2008 related to this matter, which refunds had not been paid. The Company claimed the exemption on sales and use tax returns for periods after February 2008 in light of this Nevada Supreme Court decision and had not accrued or paid any sales or use tax for those periods. In February 2012, the Nevada Department of Taxation asserted that customer complimentary meals and employee meals were subject to sales tax on a prospective basis commencing February 15, 2012. In July 2012, the Nevada Department of Taxation announced that sales taxes applicable to such meals would be due and payable without penalty or interest at the earlier of certain regulatory, judicial or legislative events or June 30, 2013. The Nevada Department of Taxation’s position stemmed from a Nevada Tax Commission decision concerning another gaming company which stated that complimentary meals provided to customers are subject to sales tax at the retail value of the meal and employee meals are subject to sales tax at the cost of the meal. The Clark County District Court subsequently issued a ruling in such case that held that complementary meals provided to customers were subject to sales tax, while meals provided to employees were not subject to sales tax. This decision was appealed to the Nevada Supreme Court. | |||||||||
In June 2013, the Company and other similarly situated companies entered into a global settlement agreement with the Nevada Department of Taxation that, when combined with the contemporaneous passage of legislation governing the prospective treatment of complimentary meals (“AB 506”), resolved all matters concerning the prior and future taxability of such meals. AB 506 provides that complimentary meals provided to customers and employees after the effective date of the bill are not subject to either sales or use tax. Under the terms of the global settlement, the Company agreed to withdraw its refund requests and the Nevada Department of Tax agreed to drop its assertion that sales tax was due on such meals up to the effective date of AB 506. Since the Company did not previously accrue either the claims for refund of use taxes or any liability for sales taxes that the Nevada Department of Tax may have asserted prior to entering the global settlement agreement, there is no financial statement impact of entering into the settlement agreement. | |||||||||
Other guarantees. The Company is 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 $500 million, and the amount of available borrowings under the senior credit facility is reduced by any outstanding letters of credit. At December 31, 2013, the Company had provided $35 million of total letters of credit. At December 31, 2013, MGM China had provided approximately $39 million of guarantees under its credit facility. | |||||||||
Other 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. |
Stockholders_Equity
Stockholders' Equity | 12 Months Ended |
Dec. 31, 2013 | |
Equity [Abstract] | ' |
Stockholders' Equity | ' |
NOTE 12 — STOCKHOLDERS’ EQUITY | |
Authorized common stock. In June 2011, the stockholders of the Company approved a proposal to amend and restate the Amended and Restated Certificate of Incorporation of the Company to increase the Company’s number of authorized shares of common stock to 1,000,000,000 shares. | |
Stock repurchases. Share repurchases are only conducted under repurchase programs approved by the Board of Directors and publicly announced. At December 31, 2013, the Company had 20 million shares available for repurchase under the May 2008 authorization, subject to limitations under the Company’s agreements governing its long-term indebtedness. The Company did not repurchase any shares during 2013, 2012 or 2011. | |
MGM China dividend. MGM China paid a $113 million interim dividend in September 2013, of which $58 million remained within the consolidated entity and $55 million was distributed to noncontrolling interests, and a $500 million special dividend in March 2013, of which $255 million remained within the consolidated entity and $245 million was distributed to noncontrolling interests. | |
MGM China paid an approximately $400 million special dividend in March 2012, of which approximately $204 million remained within the consolidated entity and approximately $196 million was distributed to noncontrolling interests. | |
In February 2014, MGM China's Board of Directors declared a special dividend of approximately $500 million, of which $255 million will remain within the consolidated entity. In addition, in February 2014, MGM China's Board of Directors recommended a final dividend for 2013 of approximately $128 million, subject to approval at the 2014 annual shareholder meeting. |
Noncontrolling_Interests
Noncontrolling Interests | 12 Months Ended |
Dec. 31, 2013 | |
Noncontrolling Interest [Abstract] | ' |
Noncontrolling Interests | ' |
NOTE 13 — NONCONTROLLING INTERESTS | |
As discussed in Note 3, the Company became the controlling shareholder of MGM China and began consolidating the financial position of MGM China in its financial statements as of June 3, 2011. The noncontrolling interests in MGM China and other minor subsidiaries are presented as a separate component of stockholders’ equity in the Company’s consolidated balance sheets, and the net income attributable to noncontrolling interests is presented on the Company’s consolidated statements of operations. Distributions to noncontrolling interests were $318 million, $207 million and $4 million for the years ended December 31, 2013, 2012 and 2011, respectively, related primarily to MGM China dividends. Net income attributable to noncontrolling interests was $213 million, $151 million and $120 million for the years ended December 31, 2013, 2012 and 2011, respectively. |
StockBased_Compensation
Stock-Based Compensation | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||||||||||
Stock-Based Compensation | ' | ||||||||||||||||||||
NOTE 14 — STOCK-BASED COMPENSATION | |||||||||||||||||||||
2005 Omnibus Incentive Plan. The Company’s omnibus incentive plan, as amended (the “Omnibus Plan”), allows it to grant stock options, stock appreciation rights (“SARs”), restricted stock units (“RSUs”), performance share units (“PSUs”) and other stock-based awards to eligible directors, officers and employees of the Company and its subsidiaries. The Omnibus Plan is administered by the Compensation Committee (the “Committee”) of the Board of Directors. The Committee has discretion under the Omnibus Plan regarding which type of awards to grant, the vesting and service requirements, exercise price and other conditions, in all cases subject to certain limits, including: | |||||||||||||||||||||
• | As amended, the Omnibus Plan allows for the issuance of up to 35 million shares or share-based awards; and | ||||||||||||||||||||
• | For stock options and SARs, the exercise price of the award must be at least equal to the fair market value of the stock on the date of grant and the maximum term of such an award is 10 years. | ||||||||||||||||||||
Stock options and SARs granted under all plans generally have terms of either seven or ten years, and in most cases vest in either four or five equal annual installments. RSUs granted vest ratably over four years, a portion of which are subject to achievement of a performance target based on operational results compared to budget in order for such RSUs to be eligible to vest. Expense is recognized primarily on a straight-line basis over the vesting period of the awards net of estimated forfeitures. Estimated forfeitures are updated periodically with actual forfeitures recognized currently to the extent they differ from the estimate. | |||||||||||||||||||||
PSUs granted vest subject to a market condition, in which a percentage of the target award granted vests based on the performance of the Company’s stock price in relation to the target price at the end of a three year performance period. Specifically, the ending average stock price must equal the target price, which is defined as 125% of the beginning average stock price, in order for the target award to vest. No shares are issued unless the ending average stock price is at least 60% of the target price, and the maximum payout is capped at 160% of the target award. If the ending average stock price is at least 60% or more of the target price, then the amount of units granted in the target award is multiplied by the stock performance multiplier. The stock performance multiplier equals the ending average stock price divided by the target price. For this purpose, the target and ending prices are based on the average closing price of the Company’s common stock over the 60 calendar day periods ending on the grant date and the third anniversary of the grant date. Expense is recognized on a graded basis over the performance period beginning on the date of grant. Estimated forfeitures are updated periodically with actual forfeitures recognized currently to the extent they differ from the estimate. | |||||||||||||||||||||
As of December 31, 2013, the Company had an aggregate of approximately 15 million shares of common stock available for grant as share-based awards under the Omnibus Plan. A summary of activity under the Company’s share-based payment plans for the year ended December 31, 2013 is presented below: | |||||||||||||||||||||
Stock options and stock appreciation rights (“SARs”) | |||||||||||||||||||||
Units | Weighted | Weighted | Aggregate | ||||||||||||||||||
(000’s) | Average | Average | Intrinsic | ||||||||||||||||||
Exercise | Remaining | Value | |||||||||||||||||||
Price | Contractual | (000’s) | |||||||||||||||||||
Term | |||||||||||||||||||||
Outstanding at January 1, 2013 | 22,929 | $ | 14.44 | ||||||||||||||||||
Granted | 1,717 | 19.98 | |||||||||||||||||||
Exercised | -3,027 | 10.65 | |||||||||||||||||||
Forfeited or expired | -5,545 | 16.09 | |||||||||||||||||||
Outstanding at December 31, 2013 | 16,074 | 15.22 | 3.78 | $ | 165,484 | ||||||||||||||||
Vested and expected to vest at December 31, 2013 | 15,726 | 15.21 | 3.73 | $ | 162,736 | ||||||||||||||||
Exercisable at December 31, 2013 | 10,393 | 16.37 | 2.85 | $ | 106,300 | ||||||||||||||||
As of December 31, 2013, there was a total of $32 million of unamortized compensation related to stock options and SARs expected to vest, which is expected to be recognized over a weighted-average period of 1.6 years. | |||||||||||||||||||||
Restricted stock units (“RSUs”) and performance share units (“PSUs”) | |||||||||||||||||||||
RSUs | PSUs | ||||||||||||||||||||
Weighted | Weighted | Weighted | |||||||||||||||||||
Average | Average | Average | |||||||||||||||||||
Units | Grant-Date | Units | Grant-Date | Target | |||||||||||||||||
(000’s) | Fair Value | (000’s) | Fair Value | Price | |||||||||||||||||
Nonvested at January 1, 2013 | 1,424 | $ | 10.17 | 688 | $ | 10.03 | $ | 13.37 | |||||||||||||
Granted | 566 | 19.38 | 373 | 21.01 | 23.50 | ||||||||||||||||
Vested | -580 | 10.66 | - | - | - | ||||||||||||||||
Forfeited | -71 | 10.28 | -6 | 10.03 | 13.37 | ||||||||||||||||
Nonvested at December 31, 2013 | 1,339 | 13.85 | 1,055 | 13.91 | 16.95 | ||||||||||||||||
The vested RSUs amount in the table above includes approximately 62,000 vested shares deferred by members of the Board of Directors that will not release until termination from the board. As of December 31, 2013, there was a total of $15 million of unamortized compensation related to RSUs which is expected to be recognized over a weighted-average period of 1.7 years. As of December 31, 2013, there was a total of $10 million of unamortized compensation related to PSUs which is expected to be recognized over a weighted-average period of 2.2 years. | |||||||||||||||||||||
The following table includes additional information related to stock options, SARs and RSUs: | |||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Intrinsic value of share-based awards exercised or RSUs vested | $ | 28,880 | $ | 6,451 | $ | 4,841 | |||||||||||||||
Income tax benefit from share-based awards exercised or RSUs vested | 9,975 | 2,236 | 1,675 | ||||||||||||||||||
The Company net settles stock option and SAR exercises, whereby shares of common stock are issued equivalent to the intrinsic value of the option or SAR less applicable taxes. | |||||||||||||||||||||
MGM China Share Option Plan. The Company’s subsidiary, MGM China, adopted an equity award plan in 2011 for grants of stock options to purchase ordinary shares of MGM China to eligible directors, employees and non-employees of MGM China and its subsidiaries (“MGM China Plan”). The MGM China Plan is administered by MGM China’s Board of Directors, which has the discretion to determine the exercise price and term of the award, as well as other conditions, in all cases subject to certain limits, including: | |||||||||||||||||||||
• | The maximum number of shares which may be issued upon exercise of all options to be granted under the MGM China Plan shall not in aggregate exceed 10% of the total number of shares in issue as of the date of the shareholders’ approval of the MGM China Plan; and | ||||||||||||||||||||
• | The exercise price of the award must be the higher of the closing price of the stock on the offer date, or the average of the closing price for the five business days immediately preceding the offer date, and the maximum term of the award must not exceed ten years. | ||||||||||||||||||||
Stock options currently granted under the MGM China Plan have a term of ten years, and vest in four equal annual installments. Expense is recognized on a straight-line basis over the vesting period of the awards net of estimated forfeitures. Forfeitures are estimated at the time of grant, with such estimate updated periodically and with actual forfeitures recognized currently to the extent they differ from the estimate. | |||||||||||||||||||||
As of December 31, 2013, MGM China had an aggregate of approximately 359 million shares of options available for grant as share-based awards. A summary of activity under the MGM China Plan for the year ended December 31, 2013 is presented below: | |||||||||||||||||||||
Stock options | |||||||||||||||||||||
Units | Weighted | Weighted | Aggregate | ||||||||||||||||||
(000’s) | Average | Average | Intrinsic | ||||||||||||||||||
Exercise | Remaining | Value | |||||||||||||||||||
Price | Contractual | (000’s) | |||||||||||||||||||
Term | |||||||||||||||||||||
Outstanding at January 1, 2013 | 19,235 | $ | 1.98 | ||||||||||||||||||
Granted | 1,110 | 3.20 | |||||||||||||||||||
Exercised | -2,704 | 2.00 | |||||||||||||||||||
Forfeited or expired | -725 | 2.05 | |||||||||||||||||||
Outstanding at December 31, 2013 | 16,916 | 2.06 | 7.49 | $ | 37,291 | ||||||||||||||||
Vested and expected to vest at December 31, 2013 | 16,394 | 2.06 | 7.48 | $ | 21,396 | ||||||||||||||||
Exercisable at December 31, 2013 | 6,484 | 1.98 | 7.34 | $ | 14,769 | ||||||||||||||||
As of December 31, 2013, there was a total of $10 million of unamortized compensation related to stock options expected to vest, which is expected to be recognized over a weighted-average period of 1.7 years. | |||||||||||||||||||||
The intrinsic value of share-based awards exercised during the year ended December 31, 2013 was $3 million. When shares of common stock are issued pursuant to the exercise of share-based awards, MGM China repurchases and cancels an equivalent number of shares. For the year ended December 31, 2013, MGM China received proceeds of $6 million related to the exercise of share-based awards and expended $9 million to repurchase common stock for cancelation. | |||||||||||||||||||||
Recognition of compensation cost. Compensation cost for both the Omnibus Plan and MGM China Plan was recognized as follows: | |||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Compensation cost | |||||||||||||||||||||
Omnibus Plan | $ | 27,201 | $ | 37,588 | $ | 41,103 | |||||||||||||||
MGM China Plan | 6,221 | 5,840 | 3,176 | ||||||||||||||||||
Total compensation cost | 33,422 | 43,428 | 44,279 | ||||||||||||||||||
Less: Reimbursed costs and other | -1,090 | -3,868 | -4,572 | ||||||||||||||||||
Compensation cost recognized as expense | 32,332 | 39,560 | 39,707 | ||||||||||||||||||
Less: Related tax benefit | - | -1,660 | -12,712 | ||||||||||||||||||
Compensation expense, net of tax benefit | $ | 32,332 | $ | 37,900 | $ | 26,995 | |||||||||||||||
Compensation cost for SARs granted under the Omnibus Plan is based on the fair value of each award, measured by applying the Black-Scholes model on the date of grant, using the following weighted-average assumptions: | |||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||
Expected volatility | 54 % | 65 % | 72 % | ||||||||||||||||||
Expected term | 4.9 yrs. | 5.0 yrs. | 4.9 yrs. | ||||||||||||||||||
Expected dividend yield | 0 % | 0 % | 0 % | ||||||||||||||||||
Risk-free interest rate | 1.6 % | 0.7 % | 1.0 % | ||||||||||||||||||
Weighted-average fair value of SARs granted | $ | 9.44 | $ | 5.60 | $ | 5.29 | |||||||||||||||
Expected volatility is based in part on historical volatility and in part on implied volatility based on traded options on the Company’s stock. The expected term considers the contractual term of the option as well as historical exercise and forfeiture behavior. The risk-free interest rate is based on the rates in effect on the grant date for U.S. Treasury instruments with maturities matching the relevant expected term of the award. | |||||||||||||||||||||
Compensation cost for PSUs granted under the Omnibus Plan is based on the fair value of each award, measured by applying a Monte Carlo simulation method on the date of grant, using the following weighted-average assumptions: | |||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||
Expected volatility | 40 % | 49 % | NA | ||||||||||||||||||
Expected term | 3.0 yrs. | 3.0 yrs. | NA | ||||||||||||||||||
Expected dividend yield | 0 % | 0 % | NA | ||||||||||||||||||
Risk-free interest rate | 0.6 % | 0.4 % | NA | ||||||||||||||||||
Weighted-average fair value of PSUs granted | $ | 21.01 | $ | 10.03 | NA | ||||||||||||||||
Expected volatility is based in part on historical volatility and in part on implied volatility based on traded options on the Company’s stock. The expected term is equal to the three year performance period. The risk-free interest rate is based on the rates in effect on the grant date for U.S. Treasury instruments with maturities matching the relevant expected term of the award. | |||||||||||||||||||||
Compensation cost for stock options granted under the MGM China Plan is based on the fair value of each award, measured by applying the Black-Scholes model on the date of grant, using the following weighted-average assumptions: | |||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||
Expected volatility | 46 % | 60 % | 60 % | ||||||||||||||||||
Expected term | 8.0 yrs. | 8.0 yrs. | 8.0 yrs. | ||||||||||||||||||
Expected dividend yield | 1.2 % | 0 % | 0 % | ||||||||||||||||||
Risk-free interest rate | 1.7 % | 2.1 % | 2.1 % | ||||||||||||||||||
Weighted-average fair value of options granted | $ | 1.39 | $ | 1.13 | $ | 1.26 | |||||||||||||||
Expected volatilities are based on a blend of historical volatility from a selection of companies in MGM China’s peer group and historical volatility of MGM China’s stock price. Expected term considers the contractual term of the option as well as historical exercise behavior of previously granted options. Dividend yield is based on the estimate of annual dividends expected to be paid at the time of the grant. The risk-free interest rate is based on rates in effect at the valuation date for the Hong Kong Exchange Fund Notes with maturities matching the relevant expected term of the award. |
Employee_Benefit_Plans
Employee Benefit Plans | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Compensation And Retirement Disclosure [Abstract] | ' | ||||||||||||||||
Employee Benefit Plans | ' | ||||||||||||||||
NOTE 15 — EMPLOYEE BENEFIT PLANS | |||||||||||||||||
Multiemployer benefit plans. Employees of the Company who are members of various unions are covered by union-sponsored, collectively bargained, multiemployer health and welfare and defined benefit pension plans. Of these plans, the Company considers the Southern Nevada Culinary and Bartenders Pension Plan (the “Pension Plan”), under the terms of collective-bargaining agreements with the Local Joint Executive Board of Las Vegas for and on behalf of Culinary Workers Union Local No. 226 and Bartenders Union Local No. 165 to be individually significant. The risk of participating in the Pension Plan differs from single-employer plans in the following aspects: | |||||||||||||||||
a) | Assets contributed to the multiemployer plan by one employer may be used to provide benefits to employees of other participating employers; | ||||||||||||||||
b) | If a participating employer stops contributing to the plan, the unfunded obligations of the plan may be borne by the remaining participating employers; | ||||||||||||||||
c) | If an entity chooses to stop participating in some of its multiemployer plans, the entity may be required to pay those plans an amount based on the underfunded status of the plan, referred to as a withdrawal liability; | ||||||||||||||||
d) | If the Pension Plan is terminated by withdrawal of all employers and if the value of the nonforfeitable benefits exceeds plan assets and withdrawal liability payments, employers are required by law to make up the insufficient difference. | ||||||||||||||||
Pursuant to its collective-bargaining agreements referenced above, the Company also contributes to UNITE HERE Health (the “Health Fund”), which provides healthcare benefits to its active and retired members. The Company’s participation in the Pension Plan is outlined in the table below. | |||||||||||||||||
Expiration Date | |||||||||||||||||
Pension Protection Act | of Collective | ||||||||||||||||
EIN/Pension | Zone Status (1) | Bargaining | |||||||||||||||
Pension Fund | Plan Number | 2012 | 2011 | Agreements (2) | |||||||||||||
Southern Nevada Culinary and Bartenders Pension Plan | 88-6016617/001 | Green | Green | 11/12/14 - 5/31/18 | |||||||||||||
-1 | The trustees of the Pension Plan have elected to apply the extended amortization and the special ten year asset smoothing rules under the Pension Relief Act of 2010. | ||||||||||||||||
-2 | The Company is party to ten collective-bargaining agreements that require contributions to the Pension Plan. The agreements between CityCenter Hotel Casino, LLC, Bellagio, Mandalay Corp., MGM Grand Hotel, LLC and the Local Joint Executive Board of Las Vegas are the most significant because more than half of the Company’s employee participants in the Pension Plan are covered by those four agreements. | ||||||||||||||||
Contributions to the Company’s multiemployer pension plans and other multiemployer benefit plans were as follows: | |||||||||||||||||
Year Ended December 31, | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
(In thousands) | |||||||||||||||||
Multiemployer Pension Plans | |||||||||||||||||
Southern Nevada Culinary and Bartenders Pension Plan | $ | 37,691 | $ | 35,556 | $ | 31,476 | |||||||||||
Other pension plans not individually significant | 8,280 | 8,083 | 7,812 | ||||||||||||||
Total multiemployer pension plans | $ | 45,971 | $ | 43,639 | $ | 39,288 | |||||||||||
Multiemployer Benefit Plans Other Than Pensions | |||||||||||||||||
UNITE HERE Health | $ | 167,494 | $ | 162,453 | $ | 160,270 | |||||||||||
Other | 15,367 | 14,172 | 13,608 | ||||||||||||||
Total multiemployer benefit plans other than pensions | $ | 182,861 | $ | 176,625 | $ | 173,878 | |||||||||||
Hours worked in 2013 increased approximately 3% compared to 2012. Hours worked in 2012 increased approximately 1% compared to 2011 and the contribution rate to the Pension Plan increased in mid-2012 as defined under the collective bargaining agreements. Bellagio, Aria, Mandalay Bay and MGM Grand Las Vegas were listed in the Pension Plan’s Forms 5500 as providing more than 5% of the total contributions for the plan years ended December 31, 2012 and 2011. At the date the financial statements were issued, Form 5500 was not available for the plan year ending in 2013. No surcharges were imposed on the Company’s contributions to any of the plans. | |||||||||||||||||
Self insurance. The Company is self-insured for most health care benefits and workers compensation for its non-union employees. The liability for health care claims filed and estimates of claims incurred but not reported was $19 million and $22 million at December 31, 2013 and 2012, respectively. The workers compensation liability for claims filed and estimates of claims incurred but not reported was $42 million and $40 million as of December 31, 2013 and 2012, respectively. Both liabilities are included in “Other accrued liabilities.” | |||||||||||||||||
Retirement savings plans. The Company has retirement savings plans under Section 401(k) of the IRC for eligible employees. The plans allow employees to defer, within prescribed limits, up to 30% of their income on a pre-tax basis through contributions to the plans. The Company suspended its matching contributions to the plan in 2009, though certain employees at MGM Grand Detroit and Four Seasons were still eligible for matching contributions. The Company reinstated a more limited 401(k) company contribution in 2011 and will continue to monitor the plan contributions as the economy changes. In the case of certain union employees, the Company contributions to the plan are based on hours worked. The Company recorded charges for 401(k) contributions of $13 million, $12 million and $10 million in 2013, 2012 and 2011, respectively. | |||||||||||||||||
The Company maintains nonqualified deferred retirement plans for certain key employees. The plans allow participants to defer, on a pre-tax basis, a portion of their salary and bonus and accumulate tax deferred earnings, plus investment earnings on the deferred balances, as a deferred tax savings. All employee deferrals vest immediately. In 2009, the Company suspended contributions to the plan. | |||||||||||||||||
The Company also maintains nonqualified supplemental executive retirement plans (“SERP”) for certain key employees. Until September 2008, the Company made quarterly contributions intended to provide a retirement benefit that is a fixed percentage of a participant’s estimated final five-year average annual salary, up to a maximum of 65%. The Company has indefinitely suspended these contributions. Employees do not make contributions under these plans. A portion of the Company contributions and investment earnings thereon vest after three years of SERP participation and the remaining portion vests after both five years of SERP participation and 10 years of continuous service. | |||||||||||||||||
MGM China. MGM China contributes to a retirement plan as part of an employee benefits package for eligible employees. Contributions to the retirement plan were $5 million, $4 million and $2 million for the years ended December 31, 2013, 2012, and 2011, respectively. |
Property_Transactions_Net
Property Transactions, Net | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Text Block [Abstract] | ' | ||||||||||||
Property Transactions, Net | ' | ||||||||||||
NOTE 16 — PROPERTY TRANSACTIONS, NET | |||||||||||||
Property transactions, net consisted of the following: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
(In thousands) | |||||||||||||
Corporate buildings impairment charge | $ | 44,510 | $ | - | $ | - | |||||||
Other Nevada land impairment charge | 20,354 | - | - | ||||||||||
Grand Victoria investment impairment | 36,607 | 85,009 | - | ||||||||||
Borgata investment impairment | - | 65,000 | 61,962 | ||||||||||
Las Vegas Strip land impairment | - | 366,406 | - | ||||||||||
Atlantic City land impairment | - | 166,569 | - | ||||||||||
Silver Legacy investment impairment | - | - | 22,966 | ||||||||||
Circus Circus Reno impairment | - | - | 79,658 | ||||||||||
Other property transactions, net | 23,290 | 25,065 | 14,012 | ||||||||||
$ | 124,761 | $ | 708,049 | $ | 178,598 | ||||||||
Corporate Buildings. During the second quarter of 2013, the Company recorded an impairment charge of $45 million related to corporate buildings which are expected to be removed from service. In June 2013, the Company executed agreements formalizing the details of a joint venture to build a new Las Vegas arena project, of which the Company will own 50%, that will be located on the land underlying these buildings. | |||||||||||||
Other Nevada Land. The Company owns approximately 170 acres of land in Jean, Nevada and owned approximately 89 acres in and around Sloan, Nevada. In 2013, the Company recorded an impairment charge of $20 million based on an estimated fair value of $24 million, due to an increased probability of sale in which the Company did not believe it was likely that the carrying value of the land would be recovered. Fair value was determined based on recent indications from market participants. In the fourth quarter of 2013, the Company sold the Sloan land. | |||||||||||||
Unconsolidated affiliates. See Note 6 for additional information related to the Grand Victoria and Silver Legacy investment impairment charges. | |||||||||||||
Borgata. The Company determined that it was necessary to record an other-than-temporary impairment charge for its investment in Borgata of $65 million as of December 31, 2012 using an estimated fair value for its investment of $120 million based on a discounted cash flow analysis. Borgata's 2012 operating results did not meet previous forecasts. While 2012 results for Borgata were significantly impacted by Hurricane Sandy, management believed the challenging environment in Atlantic City would continue and lowered 2013 estimates below what was previously forecasted. Additionally, the Company used a long-term growth rate of 2.5% and a discount rate of 10.5%, based on its assessment of risk associated with the estimated cash flows. This analysis is sensitive to management assumptions, and increases or decreases in these assumptions would have a material impact on the analysis. | |||||||||||||
The Company determined that it was necessary to record an other-than-temporary impairment charge of $62 million as of December 31, 2011 using an estimated fair value for its investment of $185 million based on a discounted cash flow analysis. Key assumptions in such analysis include management's estimates of future cash flows, including outflows for capital expenditures, an appropriate discount rate, and long-term growth rate. At the time, there was significant uncertainty surrounding Borgata's future operating results, due primarily to the planned opening of a major new resort in the Atlantic City market during 2012 and other additional competition expected in surrounding markets. As a result, for purposes of this analysis, management reflected a decrease in forecasted cash flows in 2012 and 2013. Additionally, the Company used a long-term growth rate of 3% and a discount rate of 10.5%, based on its assessment of risk associated with the estimated cash flows. | |||||||||||||
Las Vegas Strip land. The Company owns 33.5 acres on the north end of the Las Vegas Strip, which it has been holding for future development. During 2012, the Company focused its development efforts on other jurisdictions, which led it to review its significant development land holdings for impairment indicators. Due to the Company’s focus on future development outside of the Las Vegas area, it did not believe it was likely it would recover the carrying value of its 33.5 acres of land on the north end of the Las Vegas Strip on an undiscounted basis. Therefore, the Company recorded an impairment charge of $366 million as of December 31, 2012 based on an estimated fair value of $214 million for the land. The Company determined fair value of the land using a market approach based on an assessment of comparable land sales in Las Vegas, adjusted for size and location factors based on comparisons to its land. | |||||||||||||
Atlantic City land. The Company owns two sites for a total of approximately 86 acres in Atlantic City, which it has been holding for future development. The Company recorded an impairment charge of $167 million as of December 31, 2012 based on an estimated fair value of $125 million for the land. Due to the Company’s focus on future development outside of Atlantic City, the deterioration the Atlantic City market had experienced and the initial underperformance of a new resort that opened in 2012, it did not believe it was likely it would recover the carrying value of this land on an undiscounted basis. The Company determined fair value of the land using a market approach based on assessment of comparable land sales in Atlantic City, adjusted for size and location factors based on comparisons to its land. | |||||||||||||
Circus Circus Reno. At September 30, 2011 the Company reviewed the carrying value of its Circus Circus Reno long-lived assets for impairment using revised operating forecasts developed by management for that resort in the third quarter of 2011. Due to the then current and forecasted market conditions and results of operations through September 30, 2011 being lower than previous forecasts, the Company recorded a non-cash impairment charge of $80 million in the third quarter of 2011 in "Property transactions, net," primarily related to a write-down of Circus Circus Reno's long-lived assets. The Company's discounted cash flow analysis for Circus Circus Reno included estimated future cash inflows from operations and estimated future cash outflows for capital expenditures utilizing an estimated pre-tax discount rate of 16.5% and a long-term growth rate of 2%. | |||||||||||||
Other. Other property transactions, net in 2013 include miscellaneous asset disposals and demolition costs. Other property transactions, net in 2012 include write-downs related to the remodeling of the theatre at Mandalay Bay, the renovation of the IMAX theatre at Luxor and various other miscellaneous asset disposals and disposal costs. Other property transactions, net in 2011 include the write-off of $5 million of goodwill related to Railroad Pass. |
Segment_Information
Segment Information | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||
Segment Information | ' | ||||||||||||
NOTE 17 — SEGMENT INFORMATION | |||||||||||||
The Company’s management views each of its casino resorts 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’s principal operating activities occur in two geographic regions: the United States and Macau S.A.R. The Company has aggregated its operations into two reportable segments based on the similar characteristics of the operating segments within the regions in which they operate: wholly owned domestic resorts and MGM China. The Company’s operations related to investments in unconsolidated affiliates, MGM Hospitality, and certain other corporate and management operations 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. | |||||||||||||
The Company’s management utilizes Adjusted Property EBITDA as the primary profit measure for its reportable segments. Adjusted Property EBITDA is a non-GAAP measure defined as Adjusted EBITDA before corporate expense and stock compensation expense related to the MGM Resorts stock option plan, which are not allocated to the reportable segments. MGM China recognizes stock compensation expense related to its stock compensation plan which is included in the calculation of Adjusted EBITDA for MGM China. Adjusted EBITDA is a non-GAAP measure defined as earnings before interest and other non-operating income (expense), taxes, depreciation and amortization, preopening and start-up expenses, property transactions, net and the gain on the MGM China transaction. | |||||||||||||
The following tables present the Company’s segment information: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
(In thousands) | |||||||||||||
Net Revenues: | |||||||||||||
Wholly owned domestic resorts | $ | 6,052,644 | $ | 5,932,791 | $ | 5,892,902 | |||||||
MGM China | 3,316,928 | 2,807,676 | 1,534,963 | ||||||||||
Reportable segment net revenues | 9,369,572 | 8,740,467 | 7,427,865 | ||||||||||
Corporate and other | 440,091 | 420,377 | 421,447 | ||||||||||
$ | 9,809,663 | $ | 9,160,844 | $ | 7,849,312 | ||||||||
Adjusted EBITDA: | |||||||||||||
Wholly owned domestic resorts | $ | 1,442,686 | $ | 1,325,220 | $ | 1,298,116 | |||||||
MGM China | 814,109 | 679,345 | 359,686 | ||||||||||
Reportable segment Adjusted Property EBITDA | 2,256,795 | 2,004,565 | 1,657,802 | ||||||||||
Corporate and other | -157,983 | -286,166 | -101,233 | ||||||||||
2,098,812 | 1,718,399 | 1,556,569 | |||||||||||
Other operating income (expense): | |||||||||||||
Preopening and start-up expenses | -13,314 | -2,127 | 316 | ||||||||||
Property transactions, net | -124,761 | -708,049 | -178,598 | ||||||||||
Gain on MGM China transaction | - | - | 3,496,005 | ||||||||||
Depreciation and amortization | -849,225 | -927,697 | -817,146 | ||||||||||
Operating income | 1,111,512 | 80,526 | 4,057,146 | ||||||||||
Non-operating expense: | |||||||||||||
Interest expense, net of amounts capitalized | -857,347 | -1,116,358 | -1,086,832 | ||||||||||
Non-operating items from unconsolidated affiliates | -157,338 | -90,020 | -119,013 | ||||||||||
Other, net | -9,062 | -608,361 | -19,670 | ||||||||||
-1,023,747 | -1,814,739 | -1,225,515 | |||||||||||
Income (loss) before income taxes | 87,765 | -1,734,213 | 2,831,631 | ||||||||||
Benefit (provision) for income taxes | -31,263 | 117,301 | 403,313 | ||||||||||
Net income (loss) | 56,502 | -1,616,912 | 3,234,944 | ||||||||||
Less: Net income attributable to noncontrolling interests | -213,108 | -150,779 | -120,307 | ||||||||||
Net income (loss) attributable to MGM Resorts International | $ | (156,606) | $ | (1,767,691) | $ | 3,114,637 | |||||||
At December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
(In thousands) | |||||||||||||
Total assets: | |||||||||||||
Wholly owned domestic resorts | $ | 13,151,719 | $ | 13,442,067 | |||||||||
MGM China | 9,203,742 | 9,097,845 | |||||||||||
Reportable segment total assets | 22,355,461 | 22,539,912 | |||||||||||
Corporate and other | 3,776,414 | 3,750,535 | |||||||||||
Eliminated in consolidation | -21,690 | -5,709 | |||||||||||
$ | 26,110,185 | $ | 26,284,738 | ||||||||||
At December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
(In thousands) | |||||||||||||
Property and equipment, net: | |||||||||||||
Wholly owned domestic resorts | $ | 11,787,880 | $ | 12,145,724 | |||||||||
MGM China | 957,769 | 737,920 | |||||||||||
Reportable segment property and equipment, net | 12,745,649 | 12,883,644 | |||||||||||
Corporate and other | 1,331,253 | 1,316,717 | |||||||||||
Eliminated in consolidation | -21,690 | -5,709 | |||||||||||
$ | 14,055,212 | $ | 14,194,652 | ||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
(In thousands) | |||||||||||||
Capital expenditures: | |||||||||||||
Wholly owned domestic resorts | $ | 216,147 | $ | 258,519 | $ | 235,638 | |||||||
MGM China | 254,516 | 80,018 | 26,649 | ||||||||||
Reportable segment capital expenditures | 470,663 | 338,537 | 262,287 | ||||||||||
Corporate and other | 107,442 | 89,935 | 38,957 | ||||||||||
Eliminated in consolidation | -15,981 | -5,709 | - | ||||||||||
$ | 562,124 | $ | 422,763 | $ | 301,244 | ||||||||
Related_Party_Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2013 | |
Related Party Transactions [Abstract] | ' |
Related Party Transactions | ' |
NOTE 18 — RELATED PARTY TRANSACTIONS | |
CityCenter | |
Management agreements. The Company and CityCenter have entered into agreements whereby the Company is responsible for management of the operations of CityCenter for a fee of 2% of revenue and 5% of EBITDA (as defined) for Aria and Vdara and $3 million per year for Crystals. The Company earned fees of $38 million, $32 million and $33 million for the years ended December 31, 2013, 2012 and 2011. The Company is being reimbursed for certain costs in performing its development and management services. During the years ended December 31, 2013, 2012 and 2011 the Company incurred $364 million, $355 million and $346 million, respectively, of costs reimbursable by the joint venture, primarily for employee compensation and certain allocated costs. As of December 31, 2013 and 2012, CityCenter owed the Company $49 million and $50 million, respectively, for management services and reimbursable costs. | |
Other agreements. The Company owns OE Pub, LLC, which leases retail space in Crystals. The Company recorded $1 million of expense related to the lease agreement in each of the years ended December 31, 2013, 2012 and 2011. The Company entered into an agreement with CityCenter whereby the Company provides CityCenter the use of its aircraft on a time sharing basis. CityCenter is charged a rate that is based on Federal Aviation Administration regulations, which provides for reimbursement for specific costs incurred by the Company. During each of the years ended December 31, 2013, 2012 and 2011, the Company was reimbursed $3 million, for aircraft related expenses. The Company has certain other arrangements with CityCenter for the provision of certain shared services, reimbursement of costs and other transactions undertaken in the ordinary course of business. | |
MGM China | |
Ms. Pansy Ho is member of the Board of Directors of, and holds a minority ownership interest in, MGM China. Ms. Pansy Ho is also the managing director of Shun Tak Holdings Limited (together with its subsidiaries “Shun Tak”), a leading conglomerate in Hong Kong with core businesses in transportation, property, hospitality and investments. Shun Tak provides various services and products, including ferry tickets, travel products, rental of hotel rooms, laundry services, advertising services and property cleaning services to MGM China and MGM China provides rental of hotel rooms at wholesale room rates to Shun Tak and receives rebates for ferry tickets from Shun Tak. MGM China incurred expenses of $18 million, $13 million and $9 million for the years ended December 31, 2013 and 2012, and for the period from June 3, 2011 through December 31, 2011, respectively. MGM China recorded revenue of less than $1 million related to hotel rooms provided to Shun Tak for the years ended December 31, 2013 and 2012, and for the period from June 3, 2011 through December 31, 2011, respectively. As of December 31, 2013 and 2012, MGM China did not have a material payable to or receivable from Shun Tak. | |
In connection with the MGM China IPO, MGM Branding and Development Holdings, Ltd., (together with its subsidiary MGM Development Services, Ltd, “MGM Branding and Development”), an entity included in the Company's consolidated financial statements in which Ms. Pansy Ho indirectly holds a noncontrolling interest, entered into a brand license agreement with MGM China. MGM China pays a license fee to MGM Branding and Development equal to 1.75% of MGM China’s consolidated net revenue, subject to an annual cap of $25 million for the initial year of the agreement, prorated to $15 million for the portion of 2011 subsequent to the date of the IPO. The annual cap increases by 20% per annum for each subsequent calendar year during the term of the agreement. During the years ended December 31, 2013, 2012 and 2011, MGM China incurred total license fees of $36 million, $30 million and $15 million, respectively, equal to the cap for each annual period. Such amounts have been eliminated in consolidation. | |
MGM China also entered into a development services agreement with MGM Branding and Development to provide certain development services to MGM China in connection with future expansion of existing projects and development of future resort gaming projects. Such services are subject to a development fee which is calculated separately for each resort casino property upon commencement of development. For each such property, the fee is 2.625% of project costs, to be paid in installments as certain benchmarks are achieved. Project costs are the total costs incurred for the design, development and construction of the casino, casino hotel, integrated resort and other related sites associated with each project, including costs of construction, fixtures and fittings, signage, gaming and other supplies and equipment and all costs associated with the opening of the business to be conducted at each project but excluding the cost of land and gaming concessions and financing costs. The development fee is subject to an annual cap of $20 million per annum for the initial financial year of each project, which amount shall increase by 10% per annum for each succeeding financial year during the term of the agreement. For the years ended December 31, 2013 and 2012 MGM China incurred $15 million and $6 million of fees, respectively, to MGM Branding and Development related to development services. Such amount is eliminated in consolidation. MGM China did not incur any development fees for the period from June 3, 2011 through December 31, 2011. | |
An entity owned by Ms. Pansy Ho received distributions of $18 million, $11 million and $4 million during the years ended December 31, 2013, 2012 and 2011, respectively, in connection with the ownership of a noncontrolling interest in MGM Branding and Development Holdings, Ltd. | |
Convertible notes | |
In June 2011, the Company sold $300 million in aggregate principal amount of the Company’s 4.25% convertible senior notes due 2015 to an indirect wholly owned subsidiary of Ms. Pansy Ho. See Note 9 for additional information related to the convertible notes. |
Consolidating_Condensed_Financ
Consolidating Condensed Financial Information | 12 Months Ended | ||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||
Organization Consolidation And Presentation Of Financial Statements [Abstract] | ' | ||||||||||||||||||||||||||||
Consolidating Condensed Financial Information | ' | ||||||||||||||||||||||||||||
NOTE 19 — CONSOLIDATING CONDENSED FINANCIAL INFORMATION | |||||||||||||||||||||||||||||
The Company’s domestic subsidiaries, excluding certain minor subsidiaries, its domestic insurance subsidiaries and MGM Grand Detroit, LLC and its subsidiaries, have fully and unconditionally guaranteed, on a joint and several basis, payment of the senior credit facility and the outstanding debt securities. The Company’s international subsidiaries, including MGM China, are not guarantors of such indebtedness. Separate condensed financial statement information for the subsidiary guarantors and non-guarantors as of December 31, 2013 and 2012 and for the years ended December 31, 2013, 2012 and 2011 is as follows: | |||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING BALANCE SHEET INFORMATION | |||||||||||||||||||||||||||||
At December 31, 2013 | |||||||||||||||||||||||||||||
Parent | Guarantor | Non-Guarantor | Elimination | Consolidated | |||||||||||||||||||||||||
Subsidiaries | Subsidiaries | ||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Current assets | $ | 494,296 | $ | 903,537 | $ | 1,322,170 | $ | -564 | $ | 2,719,439 | |||||||||||||||||||
Property and equipment, net | - | 12,552,828 | 1,514,356 | -11,972 | 14,055,212 | ||||||||||||||||||||||||
Investments in subsidiaries | 20,017,270 | 4,037,168 | - | -24,054,438 | - | ||||||||||||||||||||||||
Investments in and advances to unconsolidated affiliates | - | 1,367,071 | 7,765 | - | 1,374,836 | ||||||||||||||||||||||||
Other non-current assets | 167,552 | 542,259 | 7,250,887 | - | 7,960,698 | ||||||||||||||||||||||||
$ | 20,679,118 | $ | 19,402,863 | $ | 10,095,178 | $ | (24,066,974) | $ | 26,110,185 | ||||||||||||||||||||
Current liabilities | $ | 340,343 | $ | 959,118 | $ | 941,431 | $ | -25,564 | $ | 2,215,328 | |||||||||||||||||||
Intercompany accounts | 1,446,952 | -1,470,305 | 23,353 | - | - | ||||||||||||||||||||||||
Deferred income taxes | 2,120,676 | - | 309,738 | - | 2,430,414 | ||||||||||||||||||||||||
Long-term debt | 12,441,112 | 4,836 | 1,001,282 | - | 13,447,230 | ||||||||||||||||||||||||
Other long-term obligations | 98,856 | 41,758 | 976 | - | 141,590 | ||||||||||||||||||||||||
Total liabilities | 16,447,939 | -464,593 | 2,276,780 | -25,564 | 18,234,562 | ||||||||||||||||||||||||
MGM Resorts International stockholders’ equity | 4,231,179 | 19,867,456 | 4,173,954 | -24,041,410 | 4,231,179 | ||||||||||||||||||||||||
Noncontrolling interests | - | - | 3,644,444 | - | 3,644,444 | ||||||||||||||||||||||||
Total stockholders’ equity | 4,231,179 | 19,867,456 | 7,818,398 | -24,041,410 | 7,875,623 | ||||||||||||||||||||||||
$ | 20,679,118 | $ | 19,402,863 | $ | 10,095,178 | $ | -24,066,974 | $ | 26,110,185 | ||||||||||||||||||||
At December 31, 2012 | |||||||||||||||||||||||||||||
Parent | Guarantor | Non-Guarantor | Elimination | Consolidated | |||||||||||||||||||||||||
Subsidiaries | Subsidiaries | ||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Current assets | $ | 438,878 | $ | 891,826 | $ | 1,176,844 | $ | -456 | $ | 2,507,092 | |||||||||||||||||||
Property and equipment, net | - | 12,881,152 | 1,325,472 | -11,972 | 14,194,652 | ||||||||||||||||||||||||
Investments in subsidiaries | 19,785,312 | 4,077,228 | - | -23,862,540 | - | ||||||||||||||||||||||||
Investments in and advances to unconsolidated affiliates | - | 1,437,151 | 7,396 | - | 1,444,547 | ||||||||||||||||||||||||
Other non-current assets | 163,372 | 541,634 | 7,433,441 | - | 8,138,447 | ||||||||||||||||||||||||
$ | 20,387,562 | $ | 19,828,991 | $ | 9,943,153 | $ | -23,874,968 | $ | 26,284,738 | ||||||||||||||||||||
Current liabilities | $ | 272,138 | $ | 989,864 | $ | 672,125 | $ | -8,456 | $ | 1,925,671 | |||||||||||||||||||
Intercompany accounts | 960,610 | -983,288 | 22,678 | - | - | ||||||||||||||||||||||||
Deferred income taxes | 2,222,823 | - | 251,066 | - | 2,473,889 | ||||||||||||||||||||||||
Long-term debt | 12,432,581 | 155,413 | 1,001,289 | - | 13,589,283 | ||||||||||||||||||||||||
Other long-term obligations | 133,862 | 45,303 | 714 | - | 179,879 | ||||||||||||||||||||||||
Total liabilities | 16,022,014 | 207,292 | 1,947,872 | -8,456 | 18,168,722 | ||||||||||||||||||||||||
MGM Resorts International stockholders’ equity | 4,365,548 | 19,621,699 | 4,244,813 | -23,866,512 | 4,365,548 | ||||||||||||||||||||||||
Noncontrolling interests | - | - | 3,750,468 | - | 3,750,468 | ||||||||||||||||||||||||
Total stockholders’ equity | 4,365,548 | 19,621,699 | 7,995,281 | -23,866,512 | 8,116,016 | ||||||||||||||||||||||||
$ | 20,387,562 | $ | 19,828,991 | $ | 9,943,153 | $ | (23,874,968) | $ | 26,284,738 | ||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME INFORMATION | |||||||||||||||||||||||||||||
Year Ended December 31, 2013 | |||||||||||||||||||||||||||||
Parent | Guarantor | Non- | Elimination | Consolidated | |||||||||||||||||||||||||
Subsidiaries | Guarantor | ||||||||||||||||||||||||||||
Subsidiaries | |||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Net revenues | $ | - | $ | 5,955,001 | $ | 3,856,728 | $ | -2,066 | $ | 9,809,663 | |||||||||||||||||||
Equity in subsidiaries’ earnings | 663,605 | 289,384 | - | -952,989 | - | ||||||||||||||||||||||||
Expenses: | |||||||||||||||||||||||||||||
Casino and hotel operations | 5,644 | 3,622,940 | 2,632,198 | (2,066 | ) | 6,258,716 | |||||||||||||||||||||||
General and administrative | 4,432 | 1,051,757 | 222,261 | - | 1,278,450 | ||||||||||||||||||||||||
Corporate expense | 66,307 | 125,500 | 41,938 | (17,000 | ) | 216,745 | |||||||||||||||||||||||
Preopening and start-up expenses | - | 4,205 | 9,109 | - | 13,314 | ||||||||||||||||||||||||
Property transactions, net | - | 126,773 | (2,012 | ) | - | 124,761 | |||||||||||||||||||||||
Depreciation and amortization | - | 522,900 | 326,325 | - | 849,225 | ||||||||||||||||||||||||
76,383 | 5,454,075 | 3,229,819 | -19,066 | 8,741,211 | |||||||||||||||||||||||||
Income from unconsolidated affiliates | - | 43,038 | 22 | - | 43,060 | ||||||||||||||||||||||||
Operating income (loss) | 587,222 | 833,348 | 626,931 | -935,989 | 1,111,512 | ||||||||||||||||||||||||
Interest expense, net of amounts capitalized | -805,933 | -6,333 | -45,081 | - | -857,347 | ||||||||||||||||||||||||
Other, net | 39,524 | -160,721 | -45,203 | - | -166,400 | ||||||||||||||||||||||||
Income (loss) before income taxes | -179,187 | 666,294 | 536,647 | -935,989 | 87,765 | ||||||||||||||||||||||||
Benefit (provision) for income taxes | 22,581 | 11,111 | -64,955 | - | -31,263 | ||||||||||||||||||||||||
Net income (loss) | -156,606 | 677,405 | 471,692 | -935,989 | 56,502 | ||||||||||||||||||||||||
Less: Net income attributable to noncontrolling interests | - | - | -213,108 | - | -213,108 | ||||||||||||||||||||||||
Net income (loss) attributable to MGM Resorts International | $ | -156,606 | $ | 677,405 | $ | 258,584 | $ | -935,989 | $ | -156,606 | |||||||||||||||||||
Net income (loss) | $ | -156,606 | $ | 677,405 | $ | 471,692 | $ | -935,989 | $ | 56,502 | |||||||||||||||||||
Other comprehensive income (loss), net of tax | |||||||||||||||||||||||||||||
Foreign currency translation adjustment | -1,915 | -1,915 | -3,993 | 3,830 | -3,993 | ||||||||||||||||||||||||
Other | 115 | 115 | - | (115 | ) | 115 | |||||||||||||||||||||||
Other comprehensive income (loss) | (1,800 | ) | (1,800 | ) | (3,993 | ) | 3,715 | (3,878 | ) | ||||||||||||||||||||
Comprehensive income (loss) | -158,406 | 675,605 | 467,699 | -932,274 | 52,624 | ||||||||||||||||||||||||
Less: Comprehensive income attributable to noncontrolling interests | - | - | -211,030 | - | -211,030 | ||||||||||||||||||||||||
Comprehensive income (loss) attributable to MGM Resorts International | $ | -158,406 | $ | 675,605 | $ | 256,669 | $ | (932,274) | $ | -158,406 | |||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS INFORMATION | |||||||||||||||||||||||||||||
Year Ended December 31, 2013 | |||||||||||||||||||||||||||||
Parent | Guarantor | Non- | Elimination | Consolidated | |||||||||||||||||||||||||
Subsidiaries | Guarantor | ||||||||||||||||||||||||||||
Subsidiaries | |||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Cash flows from operating activities | |||||||||||||||||||||||||||||
Net cash provided by (used in) operating activities | $ | -819,282 | $ | 1,089,341 | $ | 1,040,389 | $ | - | $ | 1,310,448 | |||||||||||||||||||
Cash flows from investing activities | |||||||||||||||||||||||||||||
Capital expenditures, net of construction payable | - | -311,635 | -250,489 | - | -562,124 | ||||||||||||||||||||||||
Dispositions of property and equipment | - | 11,648 | 6,382 | - | 18,030 | ||||||||||||||||||||||||
Investments in and advances to unconsolidated affiliates | -23,600 | -5,353 | - | - | -28,953 | ||||||||||||||||||||||||
Distributions from unconsolidated affiliates in excess of earnings | - | 110 | - | - | 110 | ||||||||||||||||||||||||
Investments in treasury securities - maturities longer than 90 days | - | -219,546 | - | - | -219,546 | ||||||||||||||||||||||||
Proceeds from treasury securities - maturities longer than 90 days | - | 252,592 | - | - | 252,592 | ||||||||||||||||||||||||
Other | - | 1,354 | -21,600 | - | -20,246 | ||||||||||||||||||||||||
Net cash used in investing activities | -23,600 | -270,830 | -265,707 | - | -560,137 | ||||||||||||||||||||||||
Cash flows from financing activities | |||||||||||||||||||||||||||||
Net borrowings under bank credit facilities - maturities of 90 days or less | -28,000 | - | - | - | -28,000 | ||||||||||||||||||||||||
Borrowings under bank credit facilities - maturities longer than 90 days | 2,343,000 | - | 450,000 | - | 2,793,000 | ||||||||||||||||||||||||
Repayments under bank credit facilities - maturities longer than 90 days | -2,343,000 | - | -450,000 | - | -2,793,000 | ||||||||||||||||||||||||
Issuance of senior notes | 500,000 | - | - | - | 500,000 | ||||||||||||||||||||||||
Retirement of senior notes, including premiums paid | -462,226 | -150,036 | - | - | -612,262 | ||||||||||||||||||||||||
Debt issuance costs | -23,576 | - | - | - | -23,576 | ||||||||||||||||||||||||
Intercompany accounts | 985,465 | -657,260 | -328,205 | - | - | ||||||||||||||||||||||||
Distributions to noncontrolling interest owners | - | - | -318,348 | - | -318,348 | ||||||||||||||||||||||||
Other | -4,506 | - | -3,016 | - | -7,522 | ||||||||||||||||||||||||
Net cash provided by (used in) financing activities | 967,157 | -807,296 | -649,569 | - | -489,708 | ||||||||||||||||||||||||
Effect of exchange rate on cash | - | - | -443 | - | -443 | ||||||||||||||||||||||||
Cash and cash equivalents | |||||||||||||||||||||||||||||
Net increase for the period | 124,275 | 11,215 | 124,670 | - | 260,160 | ||||||||||||||||||||||||
Balance, beginning of period | 254,385 | 226,242 | 1,062,882 | - | 1,543,509 | ||||||||||||||||||||||||
Balance, end of period | $ | 378,660 | $ | 237,457 | $ | 1,187,552 | $ | - | $ | 1,803,669 | |||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME INFORMATION | |||||||||||||||||||||||||||||
Year Ended December 31, 2012 | |||||||||||||||||||||||||||||
Parent | Guarantor | Non- | Elimination | Consolidated | |||||||||||||||||||||||||
Subsidiaries | Guarantor | ||||||||||||||||||||||||||||
Subsidiaries | |||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Net revenues | $ | - | $ | 5,782,523 | $ | 3,379,891 | $ | -1,570 | $ | 9,160,844 | |||||||||||||||||||
Equity in subsidiaries’ earnings | -210,934 | 220,354 | - | -9,420 | - | ||||||||||||||||||||||||
Expenses: | |||||||||||||||||||||||||||||
Casino and hotel operations | 7,623 | 3,615,288 | 2,299,941 | (1,570 | ) | 5,921,282 | |||||||||||||||||||||||
General and administrative | 7,101 | 1,025,028 | 207,645 | - | 1,239,774 | ||||||||||||||||||||||||
Corporate expense | 66,285 | 168,863 | 7,859 | (8,000 | ) | 235,007 | |||||||||||||||||||||||
Preopening and start-up expenses | - | 1,486 | 641 | - | 2,127 | ||||||||||||||||||||||||
Property transactions, net | - | 704,762 | 3,287 | - | 708,049 | ||||||||||||||||||||||||
Depreciation and amortization | - | 519,074 | 408,623 | - | 927,697 | ||||||||||||||||||||||||
81,009 | 6,034,501 | 2,927,996 | -9,570 | 9,033,936 | |||||||||||||||||||||||||
Income (loss) from unconsolidated affiliates | - | -46,443 | 61 | - | -46,382 | ||||||||||||||||||||||||
Operating income (loss) | -291,943 | -78,067 | 451,956 | -1,420 | 80,526 | ||||||||||||||||||||||||
Interest expense, net of amounts capitalized | -1,053,692 | -10,986 | -51,680 | - | -1,116,358 | ||||||||||||||||||||||||
Other, net | -526,606 | -137,201 | -34,574 | - | -698,381 | ||||||||||||||||||||||||
Income (loss) before income taxes | -1,872,241 | -226,254 | 365,702 | -1,420 | -1,734,213 | ||||||||||||||||||||||||
Benefit for income taxes | 104,550 | 1,892 | 10,859 | - | 117,301 | ||||||||||||||||||||||||
Net income (loss) | -1,767,691 | -224,362 | 376,561 | -1,420 | -1,616,912 | ||||||||||||||||||||||||
Less: Net income attributable to noncontrolling interests | - | - | -150,779 | - | -150,779 | ||||||||||||||||||||||||
Net income (loss) attributable to MGM Resorts International | $ | -1,767,691 | $ | -224,362 | $ | 225,782 | $ | -1,420 | $ | -1,767,691 | |||||||||||||||||||
Net income (loss) | $ | -1,767,691 | $ | -224,362 | $ | 376,561 | $ | -1,420 | $ | -1,616,912 | |||||||||||||||||||
Other comprehensive income (loss), net of tax: | |||||||||||||||||||||||||||||
Foreign currency translation adjustment | 8,770 | 8,770 | 17,124 | (17,540 | ) | 17,124 | |||||||||||||||||||||||
Other | (445 | ) | (445 | ) | - | 445 | (445 | ) | |||||||||||||||||||||
Other comprehensive income (loss) | 8,325 | 8,325 | 17,124 | (17,095 | ) | 16,679 | |||||||||||||||||||||||
Comprehensive income (loss) | -1,759,366 | -216,037 | 393,685 | -18,515 | -1,600,233 | ||||||||||||||||||||||||
Less: Comprehensive income attributable to noncontrolling interests | - | - | -159,133 | - | -159,133 | ||||||||||||||||||||||||
Comprehensive income (loss) attributable to MGM Resorts International | $ | (1,759,366) | $ | (216,037) | $ | 234,552 | $ | (18,515) | $ | (1,759,366) | |||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS INFORMATION | |||||||||||||||||||||||||||||
Year Ended December 31, 2012 | |||||||||||||||||||||||||||||
Parent | Guarantor | Non- | Elimination | Consolidated | |||||||||||||||||||||||||
Subsidiaries | Guarantor | ||||||||||||||||||||||||||||
Subsidiaries | |||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Cash flows from operating activities | |||||||||||||||||||||||||||||
Net cash provided by (used in) operating activities | $ | -952,653 | $ | 989,144 | $ | 872,860 | $ | - | $ | 909,351 | |||||||||||||||||||
Cash flows from investing activities | |||||||||||||||||||||||||||||
Capital expenditures, net of construction payable | - | -332,089 | -90,674 | - | -422,763 | ||||||||||||||||||||||||
Dispositions of property and equipment | - | 191 | 235 | - | 426 | ||||||||||||||||||||||||
Investments in and advances to unconsolidated affiliates | -46,800 | -7,500 | - | - | -54,300 | ||||||||||||||||||||||||
Distributions from unconsolidated affiliates in excess of earnings | - | 1,723 | - | - | 1,723 | ||||||||||||||||||||||||
Investments in treasury securities - maturities longer than 90 days | - | -285,469 | - | - | -285,469 | ||||||||||||||||||||||||
Proceeds from treasury securities - maturities longer than 90 days | - | 315,438 | - | - | 315,438 | ||||||||||||||||||||||||
Other | -1,973 | 501 | - | - | -1,472 | ||||||||||||||||||||||||
Net cash used in investing activities | -48,773 | -307,205 | -90,439 | - | -446,417 | ||||||||||||||||||||||||
Cash flows from financing activities | |||||||||||||||||||||||||||||
Net borrowings under bank credit facilities - maturities of 90 days or less | 1,331,500 | - | 447,762 | - | 1,779,262 | ||||||||||||||||||||||||
Borrowings under bank credit facilities - maturities longer than 90 days | - | - | 1,350,000 | - | 1,350,000 | ||||||||||||||||||||||||
Repayments under bank credit facilities - maturities longer than 90 days | -1,834,128 | - | -1,800,000 | - | -3,634,128 | ||||||||||||||||||||||||
Issuance of senior notes | 4,100,000 | - | - | - | 4,100,000 | ||||||||||||||||||||||||
Retirement of senior notes | -4,009,117 | - | - | - | -4,009,117 | ||||||||||||||||||||||||
Debt issuance costs | -119,197 | - | -41,048 | - | -160,245 | ||||||||||||||||||||||||
Intercompany accounts | 996,462 | -685,752 | -310,710 | - | - | ||||||||||||||||||||||||
Distributions to noncontrolling interest owners | - | - | -206,806 | - | -206,806 | ||||||||||||||||||||||||
Other | -5,035 | -833 | -57 | - | -5,925 | ||||||||||||||||||||||||
Net cash provided by (used in) financing activities | 460,485 | -686,585 | -560,859 | - | -786,959 | ||||||||||||||||||||||||
Effect of exchange rate on cash | - | - | 1,621 | - | 1,621 | ||||||||||||||||||||||||
Cash and cash equivalents | |||||||||||||||||||||||||||||
Net increase (decrease) for the period | -540,941 | -4,646 | 223,183 | - | -322,404 | ||||||||||||||||||||||||
Balance, beginning of period | 795,326 | 230,888 | 839,699 | - | 1,865,913 | ||||||||||||||||||||||||
Balance, end of period | $ | 254,385 | $ | 226,242 | $ | 1,062,882 | $ | - | $ | 1,543,509 | |||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME INFORMATION | |||||||||||||||||||||||||||||
Year Ended December 31, 2011 | |||||||||||||||||||||||||||||
Parent | Guarantor | Non- | Elimination | Consolidated | |||||||||||||||||||||||||
Subsidiaries | Guarantor | ||||||||||||||||||||||||||||
Subsidiaries | |||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Net revenues | $ | - | $ | 5,745,417 | $ | 2,106,195 | $ | -2,300 | $ | 7,849,312 | |||||||||||||||||||
Equity in subsidiaries’ earnings | 3,899,017 | 3,761,538 | - | -7,660,555 | - | ||||||||||||||||||||||||
Expenses: | |||||||||||||||||||||||||||||
Casino and hotel operations | 10,030 | 3,610,357 | 1,408,274 | -2,300 | 5,026,361 | ||||||||||||||||||||||||
General and administrative | 7,613 | 1,015,923 | 158,969 | - | 1,182,505 | ||||||||||||||||||||||||
Corporate expense | 69,958 | 104,457 | 556 | - | 174,971 | ||||||||||||||||||||||||
Preopening and start-up expenses | - | -316 | - | - | -316 | ||||||||||||||||||||||||
Property transactions, net | - | 176,063 | 2,535 | - | 178,598 | ||||||||||||||||||||||||
Gain on MGM China transaction | - | - | -3,496,005 | -3,496,005 | |||||||||||||||||||||||||
Depreciation and amortization | - | 556,538 | 260,608 | - | 817,146 | ||||||||||||||||||||||||
87,601 | 5,463,022 | -1,665,063 | -2,300 | 3,883,260 | |||||||||||||||||||||||||
Income (loss) from unconsolidated affiliates | - | -24,096 | 115,190 | - | 91,094 | ||||||||||||||||||||||||
Operating income | 3,811,416 | 4,019,837 | 3,886,448 | -7,660,555 | 4,057,146 | ||||||||||||||||||||||||
Interest expense, net of amounts capitalized | -1,023,090 | -18,882 | -44,860 | - | -1,086,832 | ||||||||||||||||||||||||
Other, net | 26,608 | -114,842 | -50,449 | - | -138,683 | ||||||||||||||||||||||||
Income before income taxes | 2,814,934 | 3,886,113 | 3,791,139 | -7,660,555 | 2,831,631 | ||||||||||||||||||||||||
Benefit (provision) for income taxes | 299,703 | -18 | 103,628 | - | 403,313 | ||||||||||||||||||||||||
Net income | 3,114,637 | 3,886,095 | 3,894,767 | -7,660,555 | 3,234,944 | ||||||||||||||||||||||||
Less: Net income attributable to noncontrolling interests | - | - | -120,307 | - | -120,307 | ||||||||||||||||||||||||
Net income attributable to MGM Resorts International | $ | 3,114,637 | $ | 3,886,095 | $ | 3,774,460 | $ | -7,660,555 | $ | 3,114,637 | |||||||||||||||||||
Net income | $ | 3,114,637 | $ | 3,886,095 | $ | 3,894,767 | $ | -7,660,555 | $ | 3,234,944 | |||||||||||||||||||
Other comprehensive income (loss), net of tax: | |||||||||||||||||||||||||||||
Foreign currency translation adjustment | 6,316 | 6,316 | 11,692 | -12,632 | 11,692 | ||||||||||||||||||||||||
Other | -37 | -37 | - | 37 | -37 | ||||||||||||||||||||||||
Other comprehensive income (loss) | 6,279 | 6,279 | 11,692 | -12,595 | 11,655 | ||||||||||||||||||||||||
Comprehensive income | 3,120,916 | 3,892,374 | 3,906,459 | -7,673,150 | 3,246,599 | ||||||||||||||||||||||||
Less: Comprehensive income attributable to noncontrolling interests | - | - | -125,683 | - | -125,683 | ||||||||||||||||||||||||
Comprehensive income attributable to MGM Resorts International | $ | 3,120,916 | $ | 3,892,374 | $ | 3,780,776 | $ | -7,673,150 | $ | 3,120,916 | |||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS INFORMATION | |||||||||||||||||||||||||||||
Year Ended December 31, 2011 | |||||||||||||||||||||||||||||
Parent | Guarantor | Non-Guarantor | Elimination | Consolidated | |||||||||||||||||||||||||
Subsidiaries | Subsidiaries | ||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Cash flows from operating activities | |||||||||||||||||||||||||||||
Net cash provided by (used in) operating activities | $ | -716,556 | $ | 918,628 | $ | 473,054 | $ | - | $ | 675,126 | |||||||||||||||||||
Cash flows from investing activities | |||||||||||||||||||||||||||||
Capital expenditures, net of construction payable | - | -263,469 | -37,775 | - | -301,244 | ||||||||||||||||||||||||
Dispositions of property and equipment | - | 147 | 201 | - | 348 | ||||||||||||||||||||||||
Acquisition of MGM China, net of cash paid | - | - | 407,046 | - | 407,046 | ||||||||||||||||||||||||
Investments in and advances to unconsolidated affiliates | -92,200 | -36,648 | - | - | -128,848 | ||||||||||||||||||||||||
Distributions from unconsolidated affiliates in excess of earnings | - | 2,212 | - | - | 2,212 | ||||||||||||||||||||||||
Investments in treasury securities - maturities longer than 90 days | - | -330,313 | - | - | -330,313 | ||||||||||||||||||||||||
Proceeds from treasury securities - maturities longer than 90 days | - | 330,130 | - | - | 330,130 | ||||||||||||||||||||||||
Other | - | -643 | - | - | -643 | ||||||||||||||||||||||||
Net cash provided by (used in) investing activities | -92,200 | -298,584 | 369,472 | - | -21,312 | ||||||||||||||||||||||||
Cash flows from financing activities | |||||||||||||||||||||||||||||
Net borrowings (repayments) under bank credit facilities - maturities of 90 days or less | 167,391 | - | -473,271 | - | -305,880 | ||||||||||||||||||||||||
Borrowings under bank credit facilities - maturities longer than 90 days | 5,826,993 | - | 1,732,119 | - | 7,559,112 | ||||||||||||||||||||||||
Repayments under bank credit facilities - maturities longer than 90 days | -5,002,384 | - | -1,350,000 | - | -6,352,384 | ||||||||||||||||||||||||
Issuance of senior notes | 311,415 | - | - | - | 311,415 | ||||||||||||||||||||||||
Retirement of senior notes | -356,700 | -137,116 | - | - | -493,816 | ||||||||||||||||||||||||
Intercompany accounts | 586,331 | -529,578 | -56,753 | - | - | ||||||||||||||||||||||||
Distributions to noncontrolling interest owners | - | - | -3,768 | - | -3,768 | ||||||||||||||||||||||||
Other | -1,421 | -1,263 | -73 | - | -2,757 | ||||||||||||||||||||||||
Net cash provided by (used in) financing activities | 1,531,625 | -667,957 | -151,746 | - | 711,922 | ||||||||||||||||||||||||
Effect of exchange rate on cash | - | - | 1,213 | - | 1,213 | ||||||||||||||||||||||||
Cash and cash equivalents | |||||||||||||||||||||||||||||
Net increase (decrease) for the period | 722,869 | -47,913 | 691,993 | - | 1,366,949 | ||||||||||||||||||||||||
Balance, beginning of period | 72,457 | 278,801 | 147,706 | - | 498,964 | ||||||||||||||||||||||||
Balance, end of period | $ | 795,326 | $ | 230,888 | $ | 839,699 | $ | - | $ | 1,865,913 | |||||||||||||||||||
Selected_Quarterly_Financial_R
Selected Quarterly Financial Results (Unaudited) | 12 Months Ended | ||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ||||||||||||||||||||||||||||
Selected Quarterly Financial Results (Unaudited) | ' | ||||||||||||||||||||||||||||
NOTE 20 — SELECTED QUARTERLY FINANCIAL RESULTS (UNAUDITED) | |||||||||||||||||||||||||||||
Quarter | |||||||||||||||||||||||||||||
First | Second | Third | Fourth | Total | |||||||||||||||||||||||||
(In thousands, except for per share amounts) | |||||||||||||||||||||||||||||
2013 | |||||||||||||||||||||||||||||
Net revenues | $ | 2,352,148 | $ | 2,481,265 | $ | 2,463,037 | $ | 2,513,213 | $ | 9,809,663 | |||||||||||||||||||
Operating income | 301,817 | 231,602 | 247,763 | 330,330 | 1,111,512 | ||||||||||||||||||||||||
Net income (loss) | 22,578 | -30,578 | 23,625 | 40,877 | 56,502 | ||||||||||||||||||||||||
Net income (loss) attributable to MGM Resorts International | 6,546 | -92,958 | -31,859 | -38,335 | -156,606 | ||||||||||||||||||||||||
Basic income (loss) per share | $ | 0.01 | $ | -0.19 | $ | -0.07 | $ | -0.08 | $ | -0.32 | |||||||||||||||||||
Diluted income (loss) per share | $ | 0.01 | $ | -0.19 | $ | -0.07 | $ | -0.08 | $ | -0.32 | |||||||||||||||||||
2012 | |||||||||||||||||||||||||||||
Net revenues | $ | 2,287,590 | $ | 2,323,765 | $ | 2,254,978 | $ | 2,294,511 | $ | 9,160,844 | |||||||||||||||||||
Operating income (loss) | 192,606 | 175,375 | 137,401 | -424,856 | 80,526 | ||||||||||||||||||||||||
Net loss | -203,307 | -70,434 | -154,674 | -1,188,497 | -1,616,912 | ||||||||||||||||||||||||
Net loss attributable to MGM Resorts International | -217,253 | -145,452 | -181,159 | -1,223,827 | -1,767,691 | ||||||||||||||||||||||||
Basic loss per share | $ | -0.44 | $ | -0.3 | $ | -0.37 | $ | -2.5 | $ | -3.62 | |||||||||||||||||||
Diluted loss per share | $ | -0.44 | $ | -0.3 | $ | -0.37 | $ | -2.5 | $ | -3.62 | |||||||||||||||||||
Because income (loss) per share amounts are calculated using the weighted average number of common and dilutive common equivalent shares outstanding during each quarter, the sum of the per share amounts for the four quarters does not equal the total loss per share amounts for the year. The following sections list certain items affecting comparability of quarterly and year-to-date results and related per share amounts. Additional information related to these items is included elsewhere in the notes to the accompanying financial statements. | |||||||||||||||||||||||||||||
2013 items affecting comparability are as follows: | |||||||||||||||||||||||||||||
• | First Quarter. None; | ||||||||||||||||||||||||||||
• | Second Quarter. The Company recorded an impairment charge related to its investment in Grand Victoria of $37 million ($0.05 per share in the quarter and full year of 2013), and an impairment charge of $45 million related to corporate buildings which are expected to be removed from service ($0.06 per share in the quarter and full year of 2013); | ||||||||||||||||||||||||||||
• | Third Quarter. The Company recorded impairment charges of $26 million primarily related to land holdings in Jean and Sloan, Nevada ($0.03 per share in the quarter and full year); and | ||||||||||||||||||||||||||||
• | Fourth Quarter. The Company recorded a $70 million charge for its share of CityCenter’s loss on retirement of long-term debt ($0.09 per share in the quarter and full year), and a $12 million gain for its share of a gain on retirement of long-term debt related to Silver Legacy’s early redemption of its second lien notes ($0.02 per share in the quarter and full year of 2013). | ||||||||||||||||||||||||||||
2012 items affecting comparability are as follows: | |||||||||||||||||||||||||||||
• | First Quarter. The Company recorded a loss on retirement of debt of $59 million ($0.08 impact per share for the quarter and full year of 2012) and its 50% share of CityCenter’s loss on retirement of debt of $4 million ($0.01 per share for the quarter and full year of 2012); | ||||||||||||||||||||||||||||
• | Second Quarter. The Company recorded a Grand Victoria investment impairment charge of $85 million ($0.11 per share in the quarter and full year of 2012); | ||||||||||||||||||||||||||||
• | Third Quarter. The Company recorded its 50% share of CityCenter residential inventory impairment of $18 million ($0.02 per share in the quarter and full year) and its 50% share of CityCenter Harmon demolition costs accrual of $16 million ($0.02 per share in the quarter and full year); and | ||||||||||||||||||||||||||||
• | Fourth Quarter. The Company recorded a loss on retirement of debt of $505 million ($0.67 per share in the quarter and full year) and impairment charges related to its Borgata investment of $65 million ($0.09 per share in the quarter and full year), its Atlantic City land of $167 million ($0.20 per share in the quarter and full year), its North Las Vegas Strip land of $366 million ($0.48 per share in the quarter and full year) and its South Jersey Transportation Authority special revenue bonds of $47 million ($0.06 per share in the quarter and full year). |
Schedule_II_Valuation_and_Qual
Schedule II - Valuation and Qualifying Accounts | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Valuation And Qualifying Accounts [Abstract] | ' | ||||||||||||||||||||
Schedule II - Valuation and Qualifying Accounts | ' | ||||||||||||||||||||
MGM RESORTS INTERNATIONAL | |||||||||||||||||||||
SCHEDULE II — VALUATION AND QUALIFYING ACCOUNTS | |||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Balance at | Addition of | Provision for | Write-offs, | Balance at | |||||||||||||||||
Beginning of | MGM China | Doubtful | Net of | End of Period | |||||||||||||||||
Period | Accounts | Recoveries | |||||||||||||||||||
Allowance for doubtful accounts | |||||||||||||||||||||
Year Ended December 31, 2013 | $ | 97,911 | $ | - | $ | 14,969 | $ | (31,167) | $ | 81,713 | |||||||||||
Year Ended December 31, 2012 | 101,207 | - | 57,068 | (60,364) | 97,911 | ||||||||||||||||
Year Ended December 31, 2011 | 93,760 | 40,741 | 39,093 | (72,387) | 101,207 | ||||||||||||||||
Balance at | Increase | Decrease | Balance at | ||||||||||||||||||
Beginning of | End of Period | ||||||||||||||||||||
Period | |||||||||||||||||||||
Deferred income tax valuation allowance | |||||||||||||||||||||
Year Ended December 31, 2013 | $ | 1,093,398 | $ | 633,423 | $ | (4,904) | $ | 1,721,917 | |||||||||||||
Year Ended December 31, 2012 | 72,001 | 1,023,644 | (2,247) | 1,093,398 | |||||||||||||||||
Year Ended December 31, 2011 | 35,724 | 68,325 | (32,048) | 72,001 |
Basis_of_Presentation_and_Sign1
Basis of Presentation and Significant Accounting Policies (Policies) | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Accounting Policies [Abstract] | ' | |||
Principles of consolidation | ' | |||
Principles of consolidation. The consolidated financial statements include the accounts of the Company and its subsidiaries. The Company’s investments in unconsolidated affiliates which are 50% or less owned are accounted for under the equity method. The Company does not have significant variable interests in variable interest entities. All intercompany balances and transactions have been eliminated in consolidation. | ||||
Management's use of estimates | ' | |||
Management’s use of estimates. The consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America. These principles require the Company’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. | ||||
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, cost method investments, 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 observable inputs for similar assets; or Level 3 inputs, which are unobservable inputs. | ||||
• | The fair value of the Company’s treasury securities held by the Borgata trust was measured using Level 2 inputs. See Note 1; | |||
• | The Company uses Level 1 inputs for its long-term debt fair value disclosures. See Note 9; | |||
• | The Company used Level 3 inputs when assessing the fair value of its investment in Grand Victoria. See Note 6; and | |||
• | The Company used Level 3 inputs when assessing the fair value of its land in Jean and Sloan, Nevada at September 30, 2013. See Note 16. | |||
Cash and cash equivalents | ' | |||
Cash and cash equivalents. Cash and cash equivalents include investments and interest bearing instruments with maturities of 90 days or less at the date of acquisition. Such investments are carried at cost, which approximates market value. Book overdraft balances resulting from the Company’s cash management program are recorded as accounts payable, construction payable, or other accrued liabilities, as applicable. | ||||
Accounts receivable and credit risk | ' | |||
Accounts receivable and credit risk. Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of casino accounts receivable. The Company issues credit to approved casino customers and gaming promoters following background checks and investigations of creditworthiness. At December 31, 2013, 69% of the Company’s casino receivables were due from customers residing in foreign countries. Business or economic conditions or other significant events in these countries could affect the collectibility of such receivables. | ||||
Accounts receivable are typically non-interest bearing and are initially recorded at cost. Accounts are written off when management deems the account to be uncollectible. Recoveries of accounts previously written off are recorded when received. An estimated allowance for doubtful accounts is maintained to reduce the Company’s receivables to their net carrying amount, which approximates fair value. The allowance is estimated based on specific review of customer accounts as well as historical collection experience and current economic and business conditions. Management believes that as of December 31, 2013, no significant concentrations of credit risk existed for which an allowance had not already been recorded. | ||||
Inventories | ' | |||
Inventories. Inventories consist primarily of food and beverage, retail merchandise and operating supplies, and are stated at the lower of cost or market. Cost is determined primarily using the average cost method for food and beverage and operating supplies. Cost for retail merchandise is determined using the cost method. | ||||
Property and equipment | ' | |||
Property and equipment. Property and equipment are stated at cost. A significant amount of the Company’s property and equipment was acquired through business combinations and therefore recognized at fair value at the acquisition date. Gains or losses on dispositions of property and equipment are included in the determination of income. Maintenance costs are expensed as incurred. | ||||
The Company evaluates its property and equipment and other long-lived assets for impairment based on its classification as a) held for sale or b) to be held and used. Several criteria must be met before an asset is classified as held for sale, including that management with the appropriate authority commits to a plan to sell the asset at a reasonable price in relation to its fair value and is actively seeking a buyer. For assets held for sale, the Company recognizes the asset at the lower of carrying value or fair market value less costs to sell, as estimated based on comparable asset sales, offers received, or a discounted cash flow model. For assets to be held and used, the Company reviews for impairment whenever indicators of impairment exist. The Company then compares the estimated future cash flows of the asset, on an undiscounted basis, to the carrying value of the asset. If the undiscounted cash flows exceed the carrying value, no impairment is indicated. If the undiscounted cash flows do not exceed the carrying value, then an impairment is recorded based on the fair value of the asset, typically measured using a discounted cash flow model. If an asset is still under development, future cash flows include remaining construction costs. All recognized impairment losses, whether for assets held for sale or assets to be held and used, are recorded as operating expenses. See Note 16 for information on recorded impairment charges. | ||||
Capitalized interest | ' | |||
Capitalized interest. The interest cost associated with major development and construction projects is capitalized and included in the cost of the project. When no debt is incurred specifically for a project, interest is capitalized on amounts expended on the project using the weighted-average cost of the Company’s outstanding borrowings. Capitalization of interest ceases when the project is substantially complete or development activity is suspended for more than a brief period. | ||||
Investments in and advances to unconsolidated affiliates | ' | |||
Investments in and advances to unconsolidated affiliates. The Company has investments in unconsolidated affiliates accounted for under the equity method. Under the equity method, carrying value is adjusted for the Company’s share of the investees’ earnings and losses, amortization of certain basis differences, as well as capital contributions to and distributions from these companies. Distributions in excess of equity method earnings are recognized as a return of investment and recorded as investing cash inflows in the accompanying consolidated statements of cash flows. The Company classifies operating income and losses as well as gains and impairments related to its investments in unconsolidated affiliates as a component of operating income or loss, as the Company's investments in such unconsolidated affiliates are an extension of the Company’s core business operations. | ||||
The Company evaluates its investments in unconsolidated affiliates for impairment whenever events or changes in circumstances indicate that the carrying value of its investment may have experienced an “other-than-temporary” decline in value. If such conditions exist, the Company compares the estimated fair value of the investment to its carrying value to determine if an impairment is indicated and determines whether the impairment is “other-than-temporary” based on its assessment of all relevant factors, including consideration of the Company’s intent and ability to retain its investment. The Company estimates fair value using a discounted cash flow analysis based on estimated future results of the investee and market indicators of terminal year capitalization rates, and a market approach that utilizes business enterprise value multiples based on a range of multiples from the Company’s peer group. See Note 6 for results of the Company’s review of its investment in certain of its unconsolidated affiliates. | ||||
Special revenue bonds | ' | |||
Special revenue bonds. The Company holds South Jersey Transportation Authority special revenue bonds, the original proceeds from which were used to provide funding for the Atlantic City/Brigantine Connector Project. The repayment of the remaining principal and interest for the bonds is supported by eligible investment alternative tax obligation payments made to the Casino Reinvestment Development Authority from future casino licensees on the Renaissance Pointe land owned by the Company. The Company assumed no future cash flows will be received to support the carrying value of the bonds, and recorded an other-than-temporary impairment of $47 million as of December 31, 2012, included in “Other, net.” Management believed the probability for casino development on Renaissance Pointe in the foreseeable future was remote due to the continued deterioration of the Atlantic City market and initial underperformance of a resort that opened in the market. | ||||
Goodwill and other intangible assets | ' | |||
Goodwill and other intangible assets. Goodwill represents the excess of purchase price over fair market value of net assets acquired in business combinations. Goodwill and indefinite-lived intangible assets must be reviewed for impairment at least annually and between annual test dates in certain circumstances. The Company performs its annual impairment tests in the fourth quarter of each fiscal year. No impairments were indicated as a result of the annual impairment review for goodwill and indefinite-lived intangible assets in 2013, 2012 and 2011, except as disclosed in Note 16. | ||||
Goodwill for relevant reporting units is tested for impairment using a discounted cash flow analysis based on the estimated future results of the Company’s reporting units discounted using market discount rates and market indicators of terminal year capitalization rates, and a market approach that utilizes business enterprise value multiples based on a range of multiples from the Company’s peer group. The implied fair value of a reporting unit’s goodwill is compared to the carrying value of that goodwill. The implied fair value of goodwill is determined by allocating the fair value of the reporting unit to its assets and liabilities and the amount remaining, if any, is the implied fair value of goodwill. If the implied fair value of goodwill is less than its carrying value then it must be written down to its implied fair value. License rights are tested for impairment using a discounted cash flow approach, and trademarks are tested for impairment using the relief-from-royalty method. If the fair value of an indefinite-lived intangible asset is less than its carrying amount, an impairment loss must be recognized equal to the difference. | ||||
Revenue recognition and promotional allowances | ' | |||
Revenue recognition and promotional allowances. Casino revenue is the aggregate net difference between gaming wins and losses, with liabilities recognized for funds deposited by customers before gaming play occurs (“casino front money”) and for chips in the customers’ possession (“outstanding chip liability”). Hotel, food and beverage, entertainment and other operating revenues are recognized as services are performed. Advance deposits on rooms and advance ticket sales are recorded as accrued liabilities until services are provided to the customer. | ||||
Gaming revenues are recognized net of certain sales incentives, including discounts and points earned in point-loyalty programs. The retail value of accommodations, food and beverage, and other services furnished to guests without charge is included in gross revenue and then deducted as promotional allowances. | ||||
Gaming promoters | ' | |||
Gaming promoters. A significant portion of the high-end (“VIP”) gaming volume at MGM Macau is generated through the use of gaming promoters, also known as junket operators. These operators introduce high-end gaming players to MGM Macau, assist these customers with travel arrangements, and extend gaming credit to these players. VIP gaming at MGM Macau is conducted by the use of special purpose nonnegotiable gaming chips called “rolling chips.” Gaming promoters purchase these rolling chips from MGM Macau and in turn sell these chips to their players. The rolling chips allow MGM Macau to track the amount of wagering conducted by each gaming promoters’ clients in order to determine VIP gaming play. In exchange for the gaming promoters’ services, MGM Macau compensates the gaming promoters through revenue-sharing arrangements or rolling chip turnover-based commissions. The estimated portion of the gaming promoter commissions that represent amounts passed through to VIP customers is recorded as a reduction of casino revenue, and the estimated portion retained by the gaming promoter for its compensation is recorded as casino expense. | ||||
Reimbursed expenses | ' | |||
Reimbursed expenses. The Company recognizes costs reimbursed pursuant to management services as revenue in the period it incurs the costs. Reimbursed costs related primarily to the Company’s management of CityCenter. | ||||
Loyalty programs | ' | |||
Loyalty programs. The Company’s primary loyalty program is “M life” and is available to patrons at substantially all of the Company’s wholly owned and operated resorts and CityCenter. Customers earn points based on their slots play which can be redeemed for FREEPLAY at any of the Company’s participating resorts. The Company records a liability based on the points earned multiplied by the redemption value, less an estimate for points not expected to be redeemed, and records a corresponding reduction in casino revenue. Customers also earn “Express Comps” based on their gaming play which can be redeemed for complimentary goods and services, including hotel rooms, food and beverage, and entertainment. The Company records a liability for the estimated costs of providing goods and services for Express Comps based on the Express Comps earned multiplied by a cost margin, less an estimate for Express Comps not expected to be redeemed and records a corresponding expense in the casino department. MGM Macau also has a loyalty program, whereby patrons earn rewards that can be redeemed for complimentary services, including hotel rooms, food and beverage, and entertainment. | ||||
Advertising | ' | |||
Advertising. The Company expenses advertising costs the first time the advertising takes place. Advertising expense, which is generally included in general and administrative expenses, was $153 million, $139 million, and $121 million for 2013, 2012 and 2011, respectively. | ||||
Corporate expense | ' | |||
Corporate expense. Corporate expense represents unallocated payroll, aircraft costs, professional fees and various other expenses not directly related to the Company’s casino resort operations. In addition, corporate expense includes the costs associated with the Company’s evaluation and pursuit of new business opportunities, which are expensed as incurred. | ||||
Preopening and start-up expenses | ' | |||
Preopening and start-up expenses. Preopening and start-up costs, including organizational costs, are expensed as incurred. Costs classified as preopening and start-up expenses include payroll, outside services, advertising, and other expenses related to new or start-up operations. | ||||
Property transactions, net | ' | |||
Property transactions, net. The Company classifies transactions such as write-downs and impairments, demolition costs, and normal gains and losses on the sale of assets as “Property transactions, net.” See Note 16 for a detailed discussion of these amounts. | ||||
Income per share of common stock | ' | |||
Income (loss) per share of common stock. The table below reconciles basic and diluted income (loss) per share of common stock. Diluted net income (loss) attributable to MGM Resorts International includes adjustments for interest on convertible debt, net of tax, and the potentially dilutive effect on the Company’s equity interest in MGM China due to shares outstanding under the MGM China Share Option Plan. Diluted weighted-average common and common equivalent shares includes adjustments for potential dilution of share-based awards outstanding under the Company’s stock compensation plans and the assumed conversion of convertible debt. | ||||
Currency translation | ' | |||
Currency translation. The Company translates the financial statements of foreign subsidiaries that are not denominated in U.S. dollars. Balance sheet accounts are translated at the exchange rate in effect at each balance sheet date. Income statement accounts are translated at the average rate of exchange prevailing during the period. Translation adjustments resulting from this process are recorded to other comprehensive income (loss). | ||||
Comprehensive income (loss) | ' | |||
Comprehensive income (loss). Comprehensive income includes net income (loss) and all other non-stockholder changes in equity, or other comprehensive income (loss). Elements of the Company’s accumulated other comprehensive income are reported in the accompanying consolidated statements of stockholders’ equity. | ||||
Income taxes | ' | |||
The Company recognizes deferred income tax assets, net of applicable reserves, related to net operating loss 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. The Company leases real estate and various equipment under operating and, to a lesser extent, capital lease arrangements. Certain real estate leases provide for escalation of rent based upon a specified price index and/or based upon periodic appraisals. | ||||
Segments information | ' | |||
The Company’s management views each of its casino resorts 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’s principal operating activities occur in two geographic regions: the United States and Macau S.A.R. The Company has aggregated its operations into two reportable segments based on the similar characteristics of the operating segments within the regions in which they operate: wholly owned domestic resorts and MGM China. The Company’s operations related to investments in unconsolidated affiliates, MGM Hospitality, and certain other corporate and management operations 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. | ||||
The Company’s management utilizes Adjusted Property EBITDA as the primary profit measure for its reportable segments. Adjusted Property EBITDA is a non-GAAP measure defined as Adjusted EBITDA before corporate expense and stock compensation expense related to the MGM Resorts stock option plan, which are not allocated to the reportable segments. MGM China recognizes stock compensation expense related to its stock compensation plan which is included in the calculation of Adjusted EBITDA for MGM China. Adjusted EBITDA is a non-GAAP measure defined as earnings before interest and other non-operating income (expense), taxes, depreciation and amortization, preopening and start-up expenses, property transactions, net and the gain on the MGM China transaction. |
Basis_of_Presentation_and_Sign2
Basis of Presentation and Significant Accounting Policies (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||
Schedule of Estimated Useful Lives of Property and Equipment | ' | ||||||||||||
Property and equipment are generally depreciated over the following estimated useful lives on a straight-line basis: | |||||||||||||
Buildings and improvements | 20 to 40 years | ||||||||||||
Land improvements | 10 to 20 years | ||||||||||||
Furniture and fixtures | 3 to 20 years | ||||||||||||
Equipment | 3 to 20 years | ||||||||||||
Schedule of Estimated Cost of Providing Promotional Allowances | ' | ||||||||||||
The estimated cost of providing promotional allowances is primarily included in casino expenses as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
(In thousands) | |||||||||||||
Rooms | $ | 111,842 | $ | 109,713 | $ | 100,968 | |||||||
Food and beverage | 294,555 | 298,111 | 274,776 | ||||||||||
Entertainment, retail and other | 39,606 | 35,643 | 32,705 | ||||||||||
$ | 446,003 | $ | 443,467 | $ | 408,449 | ||||||||
Schedule of Diluted Weighted-Average Number of Common and Common Equivalent Shares Adjustments for Potential Dilution of Share-Based Awards Outstanding | ' | ||||||||||||
Diluted weighted-average common and common equivalent shares includes adjustments for potential dilution of share-based awards outstanding under the Company’s stock compensation plans and the assumed conversion of convertible debt. | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
(In thousands) | |||||||||||||
Numerator: | |||||||||||||
Net income (loss) attributable to MGM Resorts International - basic | $ | (156,606) | $ | (1,767,691) | $ | 3,114,637 | |||||||
Interest on convertible debt, net of tax | - | - | 38,344 | ||||||||||
Potentially dilutive effect due to MGM China Share Option Plan | (104) | - | - | ||||||||||
Net income (loss) attributable to MGM Resorts International - diluted | $ | (156,710) | $ | (1,767,691) | $ | 3,152,981 | |||||||
Denominator: | |||||||||||||
Weighted-average common shares outstanding - basic | 489,661 | 488,988 | 488,652 | ||||||||||
Potential dilution from share-based awards | - | - | 1,577 | ||||||||||
Potential dilution from assumed conversion of convertible debt | - | - | 70,666 | ||||||||||
Weighted-average common and common equivalent shares - diluted | 489,661 | 488,988 | 560,895 | ||||||||||
Anti-dilutive share-based awards excluded from the calculation of diluted earnings per share | 18,468 | 25,041 | 21,886 | ||||||||||
Schedule of Accumulated Other Comprehensive Income | ' | ||||||||||||
Elements of the Company’s accumulated other comprehensive income are reported in the accompanying consolidated statements of stockholders’ equity, and the cumulative balance of these elements consisted of the following: | |||||||||||||
At December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
(In thousands) | |||||||||||||
Currency translation adjustments | $ | 24,733 | $ | 28,726 | |||||||||
Other comprehensive loss from unconsolidated affiliates | (578) | (693) | |||||||||||
Accumulated other comprehensive income | 24,155 | 28,033 | |||||||||||
Less: Currency translation adjustment attributable to noncontrolling interests | (11,652) | (13,730) | |||||||||||
Accumulated other comprehensive income attributable to MGM Resorts International | $ | 12,503 | $ | 14,303 | |||||||||
MGM_China_Acquisition_Tables
MGM China Acquisition (Tables) (MGM China [Member]) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
MGM China [Member] | ' | ||||||||||||
Schedule of Consolidated Results of Financial Information | ' | ||||||||||||
MGM China results. MGM China’s results included in the accompanying consolidated financial statements beginning as of June 3, 2011 are presented below: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
(In thousands) | |||||||||||||
Net revenues | $ | 3,316,928 | $ | 2,807,676 | $ | 1,534,963 | |||||||
Operating income | 501,021 | 302,092 | 137,440 | ||||||||||
Net income | 414,039 | 289,631 | 238,419 | ||||||||||
Net income attributable to MGM Resorts International | 211,160 | 147,712 | 121,594 | ||||||||||
Schedule of Unaudited Pro Forma Consolidated Financial Information | ' | ||||||||||||
Pro forma information. The following unaudited pro forma consolidated financial information for the Company has been prepared assuming the Company’s acquisition of its controlling financial interest had occurred as of January 1, 2010 and excludes the gain recognized by the Company: | |||||||||||||
Year Ended | |||||||||||||
December 31, | |||||||||||||
2011 | |||||||||||||
(In thousands, | |||||||||||||
except per share | |||||||||||||
data) | |||||||||||||
Net revenues | $ | 8,920,343 | |||||||||||
Operating income | 577,271 | ||||||||||||
Net loss | -262,452 | ||||||||||||
Net loss attributable to MGM Resorts International | -435,099 | ||||||||||||
Loss per share of common stock attributable to MGM Resorts International: | |||||||||||||
Basic | $ | -0.89 | |||||||||||
Diluted | $ | -0.89 |
Accounts_Receivable_Net_Tables
Accounts Receivable, Net (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Receivables [Abstract] | ' | ||||||||
Schedule of Accounts Receivable, Net | ' | ||||||||
Accounts receivable, net consisted of the following: | |||||||||
At December 31, | |||||||||
2013 | 2012 | ||||||||
(In thousands) | |||||||||
Casino | $ | 309,620 | $ | 294,312 | |||||
Hotel | 156,201 | 147,476 | |||||||
Other | 104,109 | 99,800 | |||||||
569,930 | 541,588 | ||||||||
Less: Allowance for doubtful accounts | -81,713 | -97,911 | |||||||
$ | 488,217 | $ | 443,677 | ||||||
Property_and_Equipment_Net_Tab
Property and Equipment, Net (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Property Plant And Equipment [Abstract] | ' | ||||||||
Schedule of Property and Equipment, Net | ' | ||||||||
Property and equipment, net consisted of the following: | |||||||||
At December 31, | |||||||||
2013 | 2012 | ||||||||
(In thousands) | |||||||||
Land | $ | 6,477,489 | $ | 6,499,492 | |||||
Buildings, building improvements and land improvements | 9,264,455 | 9,272,556 | |||||||
Furniture, fixtures and equipment | 4,040,887 | 3,995,161 | |||||||
Construction in progress | 437,434 | 140,693 | |||||||
20,220,265 | 19,907,902 | ||||||||
Less: Accumulated depreciation and amortization | -6,165,053 | -5,713,250 | |||||||
$ | 14,055,212 | $ | 14,194,652 | ||||||
Investments_in_and_Advances_to1
Investments in and Advances to Unconsolidated Affiliates (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Schedule of Investments in and Advances to Unconsolidated Affiliates | ' | ||||||||||||
Investments in and advances to unconsolidated affiliates consisted of the following: | |||||||||||||
At December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
(In thousands) | |||||||||||||
CityCenter Holdings, LLC - CityCenter (50%) | $ | 1,172,087 | $ | 1,220,741 | |||||||||
Elgin Riverboat Resort–Riverboat Casino – Grand Victoria (50%) | 169,579 | 206,296 | |||||||||||
Silver Legacy (50%) and Other | 33,170 | 17,510 | |||||||||||
$ | 1,374,836 | $ | 1,444,547 | ||||||||||
Schedule of Results of Operations of Unconsolidated Affiliates | ' | ||||||||||||
The Company recorded its share of the results of operations of unconsolidated affiliates as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
(In thousands) | |||||||||||||
Income (loss) from unconsolidated affiliates | $ | 43,060 | $ | -46,382 | $ | 91,094 | |||||||
Preopening and start-up expenses | -507 | -656 | - | ||||||||||
Non-operating items from unconsolidated affiliates | -157,338 | -90,020 | -119,013 | ||||||||||
$ | (114,785) | $ | (137,058) | $ | (27,919) | ||||||||
Tabular Disclosure of Differences between Venture-Level Equity and Investment Balances | ' | ||||||||||||
Differences between the Company’s venture-level equity and investment balances are as follows: | |||||||||||||
At December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
(In thousands) | |||||||||||||
Venture-level equity | $ | 3,369,148 | $ | 3,156,631 | |||||||||
Adjustment to CityCenter equity upon contribution of net assets by MGM Resorts International (A) | -583,946 | -589,338 | |||||||||||
CityCenter capitalized interest (B) | 261,526 | 271,602 | |||||||||||
Completion guarantee (C) | 411,944 | 316,281 | |||||||||||
Advances to CityCenter, net of discount (D) | -53,296 | 268,927 | |||||||||||
Other-than-temporary impairments of CityCenter investment (E) | (1,915,153) | (1,972,633) | |||||||||||
Fair value adjustments upon acquisition of Grand Victoria investment (F) | 267,190 | 267,190 | |||||||||||
Other adjustments (G) | -382,577 | -274,113 | |||||||||||
$ | 1,374,836 | $ | 1,444,547 | ||||||||||
(A) | Primarily relates to land and fixed assets. | ||||||||||||
(B) | Relates to interest capitalized on the Company’s investment balance during development and construction stages. | ||||||||||||
(C) | Created by contributions to CityCenter under the completion guarantee recognized as equity contributions by the joint venture split between the partners. | ||||||||||||
(D) | During 2013, the Company converted its CityCenter sponsor notes to equity, resolving the basis difference related to such notes which were previously recognized as long-term debt by CityCenter. The remaining basis difference relates to interest on the notes capitalized by CityCenter during development. | ||||||||||||
(E) | The impairment of the Company’s CityCenter investment includes $426 million of impairments allocated to land. | ||||||||||||
(F) | Relates to indefinite-lived gaming license rights for Grand Victoria. | ||||||||||||
(G) | Other adjustments include the deferred gain on assets contributed to CityCenter upon formation of the joint venture and other-than-temporary impairments of the Company’s investment in Grand Victoria and Silver Legacy. In 2012, other adjustments included a receivable from CityCenter related to condominium proceeds which was expected to be reimbursed to the Company. | ||||||||||||
Unconsolidated Affiliates [Member] | ' | ||||||||||||
Summarized Balance Sheet Information | ' | ||||||||||||
Summarized balance sheet information of the unconsolidated affiliates is as follows: | |||||||||||||
At December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
(In thousands) | |||||||||||||
Current assets | $ | 528,297 | $ | 619,099 | |||||||||
Property and other long-term assets, net | 8,519,605 | 8,875,020 | |||||||||||
Current liabilities | 519,779 | 501,518 | |||||||||||
Long-term debt and other liabilities | 1,779,797 | 2,668,759 | |||||||||||
Equity | 6,748,326 | 6,323,842 | |||||||||||
Summarized Income Statement Information | ' | ||||||||||||
Summarized results of operations of the unconsolidated affiliates are as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
(In thousands) | |||||||||||||
Net revenues | $ | 1,584,609 | $ | 1,527,355 | $ | 2,558,631 | |||||||
Operating expenses | (1,572,298) | (1,731,263) | (2,472,668) | ||||||||||
Operating income (loss) | 12,311 | -203,908 | 85,963 | ||||||||||
Interest expense | -247,405 | -277,119 | -293,578 | ||||||||||
Other non-operating expense | -151,401 | -5,329 | -25,876 | ||||||||||
Net loss | $ | -386,495 | $ | -486,356 | $ | -233,491 | |||||||
Goodwill_and_Other_Intangible_1
Goodwill and Other Intangible Assets (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ||||||||
Schedule of Goodwill and Other Intangible Assets | ' | ||||||||
Goodwill and other intangible assets consisted of the following: | |||||||||
At December 31, | |||||||||
2013 | 2012 | ||||||||
(In thousands) | |||||||||
Goodwill: | |||||||||
Mirage Resorts acquisition (2000) | $ | 30,451 | $ | 30,451 | |||||
Mandalay Resort Group acquisition (2005) | 40,524 | 40,524 | |||||||
MGM China acquisition (2011) | 2,826,467 | 2,831,872 | |||||||
$ | 2,897,442 | $ | 2,902,847 | ||||||
Indefinite-lived intangible assets: | |||||||||
Detroit development rights | $ | 98,098 | $ | 98,098 | |||||
Trademarks, license rights and other | 232,123 | 234,073 | |||||||
Total indefinite-lived intangible assets | 330,221 | 332,171 | |||||||
Finite-lived intangible assets: | |||||||||
MGM China gaming subconcession | 4,513,631 | 4,515,991 | |||||||
Less: Accumulated amortization | -526,152 | -358,873 | |||||||
3,987,479 | 4,157,118 | ||||||||
MGM Macau land concession | 84,727 | 84,772 | |||||||
Less: Accumulated amortization | -11,003 | -6,737 | |||||||
73,724 | 78,035 | ||||||||
MGM China customer lists | 128,961 | 129,028 | |||||||
Less: Accumulated amortization | -101,240 | -75,550 | |||||||
27,721 | 53,478 | ||||||||
MGM China gaming promoter relationships | 180,545 | 180,640 | |||||||
Less: Accumulated amortization | -116,335 | -71,223 | |||||||
64,210 | 109,417 | ||||||||
Maryland license and other intangible assets | 51,827 | 30,226 | |||||||
Less: Accumulated amortization | -23,321 | -22,612 | |||||||
28,506 | 7,614 | ||||||||
Total finite-lived intangible assets, net | 4,181,640 | 4,405,662 | |||||||
Total other intangible assets, net | $ | 4,511,861 | $ | 4,737,833 | |||||
Schedule of Estimated Future Amortization | ' | ||||||||
Estimated future amortization is as follows: | |||||||||
(In thousands) | |||||||||
Years ending December 31, | |||||||||
2014 | $ | 231,545 | |||||||
2015 | 199,280 | ||||||||
2016 | 174,697 | ||||||||
2017 | 172,397 | ||||||||
2018 | 172,397 | ||||||||
Thereafter | 3,231,324 | ||||||||
$ | 4,181,640 | ||||||||
Other_Accrued_Liabilities_Tabl
Other Accrued Liabilities (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Text Block [Abstract] | ' | ||||||||
Schedule of Other Accrued Liabilities | ' | ||||||||
Other accrued liabilities consisted of the following: | |||||||||
At December 31, | |||||||||
2013 | 2012 | ||||||||
(In thousands) | |||||||||
Payroll and related | $ | 394,709 | $ | 368,702 | |||||
Advance deposits and ticket sales | 104,504 | 102,428 | |||||||
Casino outstanding chip liability | 409,917 | 260,957 | |||||||
Casino front money deposits | 125,180 | 131,187 | |||||||
MGM China gaming promoter commissions | 118,122 | 114,631 | |||||||
Other gaming related accruals | 137,181 | 141,195 | |||||||
Taxes, other than income taxes | 236,991 | 223,308 | |||||||
Completion guarantee liability | 97,223 | 27,867 | |||||||
Other | 146,974 | 147,690 | |||||||
$ | 1,770,801 | $ | 1,517,965 | ||||||
LongTerm_Debt_Tables
Long-Term Debt (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Debt Disclosure [Abstract] | ' | ||||||||||||
Schedule of Long-Term Debt | ' | ||||||||||||
Long-term debt consisted of the following: | |||||||||||||
At December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
(In thousands) | |||||||||||||
Senior credit facility: | |||||||||||||
$2,772 million ($2,800 million at December 31, 2012) term loans, net | $ | 2,765,041 | $ | 2,791,284 | |||||||||
MGM Grand Paradise credit facility | 553,242 | 553,531 | |||||||||||
$462.2 million 6.75% senior notes, due 2013 | - | 462,226 | |||||||||||
$150 million 7.625% senior subordinated debentures, due 2013, net | - | 150,539 | |||||||||||
$508.9 million 5.875% senior notes, due 2014, net | 508,848 | 508,540 | |||||||||||
$875 million 6.625% senior notes, due 2015, net | 876,022 | 876,634 | |||||||||||
$1,450 million 4.25% convertible senior notes, due 2015, net | 1,456,153 | 1,460,780 | |||||||||||
$242.9 million 6.875% senior notes, due 2016 | 242,900 | 242,900 | |||||||||||
$732.7 million 7.5% senior notes, due 2016 | 732,749 | 732,749 | |||||||||||
$500 million 10% senior notes, due 2016, net | 496,987 | 496,110 | |||||||||||
$743 million 7.625% senior notes, due 2017 | 743,000 | 743,000 | |||||||||||
$475 million 11.375% senior notes, due 2018, net | 467,451 | 466,117 | |||||||||||
$850 million 8.625% senior notes, due 2019 | 850,000 | 850,000 | |||||||||||
$500 million 5.25% senior notes, due 2020 | 500,000 | - | |||||||||||
$1,000 million 6.75% senior notes, due 2020 | 1,000,000 | 1,000,000 | |||||||||||
$1,250 million 6.625% senior notes, due 2021 | 1,250,000 | 1,250,000 | |||||||||||
$1,000 million 7.75% senior notes, due 2022 | 1,000,000 | 1,000,000 | |||||||||||
$0.6 million 7% debentures, due 2036, net | 572 | 572 | |||||||||||
$4.3 million 6.7% debentures, due 2096 | 4,265 | 4,265 | |||||||||||
Other notes | - | 36 | |||||||||||
$ | 13,447,230 | $ | 13,589,283 | ||||||||||
Schedule of Interest Expense, Net | ' | ||||||||||||
Interest expense, net consisted of the following: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
(In thousands) | |||||||||||||
Total interest incurred | $ | 862,417 | $ | 1,117,327 | $ | 1,086,865 | |||||||
Interest capitalized | -5,070 | -969 | -33 | ||||||||||
$ | 857,347 | $ | 1,116,358 | $ | 1,086,832 | ||||||||
Schedule of Maturities of Long-Term Debt | ' | ||||||||||||
Maturities of long-term debt. Maturities of the Company’s long-term debt as of December 31, 2013 are as follows: | |||||||||||||
(In thousands) | |||||||||||||
Years ending December 31, | |||||||||||||
2014 | $ | 536,900 | |||||||||||
2015 | 2,353,000 | ||||||||||||
2016 | 1,641,959 | ||||||||||||
2017 | 2,183,432 | ||||||||||||
2018 | 492,500 | ||||||||||||
Thereafter | 6,249,817 | ||||||||||||
13,457,608 | |||||||||||||
Debt premiums and discounts, net | -10,378 | ||||||||||||
$ | 13,447,230 | ||||||||||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Schedule of Consolidated Income (Loss) Before Taxes for Domestic and Foreign Operations | ' | ||||||||||||
Consolidated income (loss) before taxes for domestic and foreign operations consisted of the following: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
(In thousands) | |||||||||||||
Domestic operations | $ | (419,316) | $ | -2,048,868 | $ | -902,613 | |||||||
Foreign operations | 507,081 | 314,655 | 3,734,244 | ||||||||||
$ | 87,765 | $ | (1,734,213) | $ | 2,831,631 | ||||||||
Schedule of Income Tax Provision (Benefit) Attributable to Income (Loss) Before Income Taxes | ' | ||||||||||||
The income tax benefit (provision) attributable to income (loss) before income taxes is as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
(In thousands) | |||||||||||||
Federal | |||||||||||||
Current | $ | 3,532 | $ | 1,636 | $ | -1,237 | |||||||
Deferred (excluding separate components) | 455,610 | 602,668 | 57,573 | ||||||||||
Deferred—operating loss carryforward | -305,760 | 89,954 | 260,167 | ||||||||||
Deferred—valuation allowance | -134,027 | -608,015 | - | ||||||||||
Other noncurrent | 14,523 | -1,587 | -2,812 | ||||||||||
Benefit for federal income taxes | 33,878 | 84,656 | 313,691 | ||||||||||
State | |||||||||||||
Current | -1,812 | -3,466 | -4,482 | ||||||||||
Deferred (excluding separate components) | 1,753 | 24,104 | 9,472 | ||||||||||
Deferred—operating loss carryforward | 393 | 9,221 | -3,357 | ||||||||||
Deferred—valuation allowance | -4,374 | -2,579 | -7,787 | ||||||||||
Deferred—enacted changes in tax laws or rates | - | - | -12,743 | ||||||||||
Other noncurrent | 880 | -5,493 | -1,320 | ||||||||||
Benefit (provision) for state income taxes | -3,160 | 21,787 | -20,217 | ||||||||||
Foreign | |||||||||||||
Current | -2,214 | -3,217 | -3,800 | ||||||||||
Deferred (excluding separate components) | -70,440 | 12,471 | 113,639 | ||||||||||
Deferred—operating loss carryforward | 1,312 | -782 | - | ||||||||||
Deferred—valuation allowance | 9,361 | 2,386 | - | ||||||||||
Benefit (provision) for foreign income taxes | -61,981 | 10,858 | 109,839 | ||||||||||
$ | (31,263) | $ | 117,301 | $ | 403,313 | ||||||||
Schedule of Reconciliation of the Federal Income Tax Statutory Rate and the Company's Effective Tax Rate | ' | ||||||||||||
A reconciliation of the federal income tax statutory rate and the Company’s effective tax rate is as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Federal income tax statutory rate | 35.0 | % | 35.0 | % | 35.0 | % | |||||||
Foreign tax credit, net of valuation allowance | -523.3 | 19.8 | - | ||||||||||
Repatriation of foreign earnings | 523.3 | -19.2 | - | ||||||||||
Federal valuation allowance | 152.7 | -35.1 | - | ||||||||||
State income tax, net of federal benefit and valuation allowance | 2.3 | 0.8 | 0.5 | ||||||||||
Settlements with taxing authorities | -16.6 | - | - | ||||||||||
Macau deferred tax liability re-measurement | 68.1 | - | - | ||||||||||
Foreign jurisdiction income/losses taxed at other than 35% | -199.7 | 7.0 | -2.1 | ||||||||||
Foreign jurisdiction tax rate change | - | - | -4.6 | ||||||||||
MGM China acquisition gain | - | - | -43.2 | ||||||||||
Tax credits | -9.3 | 0.5 | -0.2 | ||||||||||
Permanent and other items | 3.1 | -2 | 0.4 | ||||||||||
35.6 | % | 6.8 | % | (14.2) | % | ||||||||
Schedule of Major Tax-Effected Components of the Company's Net Deferred Tax Liability | ' | ||||||||||||
The major tax-effected components of the Company’s net deferred tax liability are as follows: | |||||||||||||
At December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
(In thousands) | |||||||||||||
Deferred tax assets—federal and state: | |||||||||||||
Senior secured notes retirement | $ | 647 | $ | 233,312 | |||||||||
Bad debt reserve | 37,327 | 38,048 | |||||||||||
Deferred compensation | 3,680 | 3,080 | |||||||||||
Net operating loss carryforward | 304,077 | 601,226 | |||||||||||
Accruals, reserves and other | 148,438 | 88,097 | |||||||||||
Investments in unconsolidated affiliates | 282,258 | 338,945 | |||||||||||
Stock-based compensation | 31,185 | 36,728 | |||||||||||
Tax credits | 1,796,599 | 820,299 | |||||||||||
2,604,211 | 2,159,735 | ||||||||||||
Less: Valuation allowance | -1,665,846 | -1,032,423 | |||||||||||
938,365 | 1,127,312 | ||||||||||||
Deferred tax assets—foreign: | |||||||||||||
Bad debt reserve | 333 | 1,477 | |||||||||||
Net operating loss carryforward | 55,834 | 50,075 | |||||||||||
Accruals, reserves and other | 154 | 1,439 | |||||||||||
Property and equipment | 11,204 | 10,218 | |||||||||||
67,525 | 63,209 | ||||||||||||
Less: Valuation allowance | -56,071 | -60,975 | |||||||||||
11,454 | 2,234 | ||||||||||||
Total deferred tax assets | $ | 949,819 | $ | 1,129,546 | |||||||||
Deferred tax liabilities—federal and state: | |||||||||||||
Property and equipment | -2,488,287 | -2,505,602 | |||||||||||
Long-term debt | -360,666 | -550,811 | |||||||||||
Cost method investments | -23,944 | -8,323 | |||||||||||
Intangibles | -105,231 | -103,094 | |||||||||||
-2,978,128 | -3,167,830 | ||||||||||||
Deferred tax liabilities—foreign: | |||||||||||||
Intangibles | -321,116 | -256,174 | |||||||||||
-321,116 | -256,174 | ||||||||||||
Total deferred tax liability | $ | -3,299,244 | $ | -3,424,004 | |||||||||
Net deferred tax liability | $ | (2,349,425) | $ | (2,294,458) | |||||||||
Schedule of Reconciliation of the Beginning and Ending Amounts of Gross Unrecognized Tax Benefits | ' | ||||||||||||
A reconciliation of the beginning and ending amounts of gross unrecognized tax benefits is as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
(In thousands) | |||||||||||||
Gross unrecognized tax benefits at January 1 | $ | 153,184 | $ | 145,799 | $ | 134,417 | |||||||
Gross increases – Prior period tax positions | 6,082 | 6,903 | 9,360 | ||||||||||
Gross decreases – Prior period tax positions | -35,508 | -12,639 | -13,772 | ||||||||||
Gross increases – Current period tax positions | 4,064 | 13,121 | 15,794 | ||||||||||
Settlements with taxing authorities | -21,576 | - | - | ||||||||||
Gross unrecognized tax benefits at December 31 | $ | 106,246 | $ | 153,184 | $ | 145,799 | |||||||
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Commitments And Contingencies Disclosure [Abstract] | ' | ||||||||
Schedule of Future Minimum Lease Payments Required to be Made under Non-Cancellable Operating Leases and Capital Leases | ' | ||||||||
At December 31, 2013, the Company was obligated under non-cancellable operating leases and capital leases to make future minimum lease payments as follows: | |||||||||
Operating | Capital | ||||||||
Leases | Leases | ||||||||
(In thousands) | |||||||||
2014 | $ | 42,951 | $ | 965 | |||||
2015 | 42,164 | 878 | |||||||
2016 | 41,387 | 234 | |||||||
2017 | 16,322 | - | |||||||
2018 | 17,739 | - | |||||||
Thereafter | 1,095,046 | - | |||||||
Total minimum lease payments | $ | 1,255,609 | 2,077 | ||||||
Less: Amounts representing interest | -99 | ||||||||
Total obligations under capital leases | 1,978 | ||||||||
Less: Amounts due within one year | -898 | ||||||||
Amounts due after one year | $ | 1,080 | |||||||
StockBased_Compensation_Tables
Stock-Based Compensation (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Schedule of Additional Information Related to Stock Options, SARs and RSUs | ' | ||||||||||||||||||||
The following table includes additional information related to stock options, SARs and RSUs: | |||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Intrinsic value of share-based awards exercised or RSUs vested | $ | 28,880 | $ | 6,451 | $ | 4,841 | |||||||||||||||
Income tax benefit from share-based awards exercised or RSUs vested | 9,975 | 2,236 | 1,675 | ||||||||||||||||||
Schedule of Compensation Cost Recognized | ' | ||||||||||||||||||||
Compensation cost for both the Omnibus Plan and MGM China Plan was recognized as follows: | |||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Compensation cost | |||||||||||||||||||||
Omnibus Plan | $ | 27,201 | $ | 37,588 | $ | 41,103 | |||||||||||||||
MGM China Plan | 6,221 | 5,840 | 3,176 | ||||||||||||||||||
Total compensation cost | 33,422 | 43,428 | 44,279 | ||||||||||||||||||
Less: Reimbursed costs and other | -1,090 | -3,868 | -4,572 | ||||||||||||||||||
Compensation cost recognized as expense | 32,332 | 39,560 | 39,707 | ||||||||||||||||||
Less: Related tax benefit | - | -1,660 | -12,712 | ||||||||||||||||||
Compensation expense, net of tax benefit | $ | 32,332 | $ | 37,900 | $ | 26,995 | |||||||||||||||
Weighted Average Assumptions Utilized for SARs Grants | ' | ||||||||||||||||||||
Compensation cost for SARs granted under the Omnibus Plan is based on the fair value of each award, measured by applying the Black-Scholes model on the date of grant, using the following weighted-average assumptions: | |||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||
Expected volatility | 54 % | 65 % | 72 % | ||||||||||||||||||
Expected term | 4.9 yrs. | 5.0 yrs. | 4.9 yrs. | ||||||||||||||||||
Expected dividend yield | 0 % | 0 % | 0 % | ||||||||||||||||||
Risk-free interest rate | 1.6 % | 0.7 % | 1.0 % | ||||||||||||||||||
Weighted-average fair value of SARs granted | $ | 9.44 | $ | 5.60 | $ | 5.29 | |||||||||||||||
Weighted Average Assumptions Utilized for PSUs | ' | ||||||||||||||||||||
Compensation cost for PSUs granted under the Omnibus Plan is based on the fair value of each award, measured by applying a Monte Carlo simulation method on the date of grant, using the following weighted-average assumptions: | |||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||
Expected volatility | 40 % | 49 % | NA | ||||||||||||||||||
Expected term | 3.0 yrs. | 3.0 yrs. | NA | ||||||||||||||||||
Expected dividend yield | 0 % | 0 % | NA | ||||||||||||||||||
Risk-free interest rate | 0.6 % | 0.4 % | NA | ||||||||||||||||||
Weighted-average fair value of PSUs granted | $ | 21.01 | $ | 10.03 | NA | ||||||||||||||||
Weighted Average Assumptions Utilized for Stock Option Grants | ' | ||||||||||||||||||||
Compensation cost for stock options granted under the MGM China Plan is based on the fair value of each award, measured by applying the Black-Scholes model on the date of grant, using the following weighted-average assumptions: | |||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||
Expected volatility | 46 % | 60 % | 60 % | ||||||||||||||||||
Expected term | 8.0 yrs. | 8.0 yrs. | 8.0 yrs. | ||||||||||||||||||
Expected dividend yield | 1.2 % | 0 % | 0 % | ||||||||||||||||||
Risk-free interest rate | 1.7 % | 2.1 % | 2.1 % | ||||||||||||||||||
Weighted-average fair value of options granted | $ | 1.39 | $ | 1.13 | $ | 1.26 | |||||||||||||||
Omnibus Plan [Member] | ' | ||||||||||||||||||||
Summary of Stock Options and Stock Appreciation Rights Activity | ' | ||||||||||||||||||||
Stock options and stock appreciation rights (“SARs”) | |||||||||||||||||||||
Units | Weighted | Weighted | Aggregate | ||||||||||||||||||
(000’s) | Average | Average | Intrinsic | ||||||||||||||||||
Exercise | Remaining | Value | |||||||||||||||||||
Price | Contractual | (000’s) | |||||||||||||||||||
Term | |||||||||||||||||||||
Outstanding at January 1, 2013 | 22,929 | $ | 14.44 | ||||||||||||||||||
Granted | 1,717 | 19.98 | |||||||||||||||||||
Exercised | -3,027 | 10.65 | |||||||||||||||||||
Forfeited or expired | -5,545 | 16.09 | |||||||||||||||||||
Outstanding at December 31, 2013 | 16,074 | 15.22 | 3.78 | $ | 165,484 | ||||||||||||||||
Vested and expected to vest at December 31, 2013 | 15,726 | 15.21 | 3.73 | $ | 162,736 | ||||||||||||||||
Exercisable at December 31, 2013 | 10,393 | 16.37 | 2.85 | $ | 106,300 | ||||||||||||||||
Schedule of Restricted Stock Units and Performance Share Units | ' | ||||||||||||||||||||
Restricted stock units (“RSUs”) and performance share units (“PSUs”) | |||||||||||||||||||||
RSUs | PSUs | ||||||||||||||||||||
Weighted | Weighted | Weighted | |||||||||||||||||||
Average | Average | Average | |||||||||||||||||||
Units | Grant-Date | Units | Grant-Date | Target | |||||||||||||||||
(000’s) | Fair Value | (000’s) | Fair Value | Price | |||||||||||||||||
Nonvested at January 1, 2013 | 1,424 | $ | 10.17 | 688 | $ | 10.03 | $ | 13.37 | |||||||||||||
Granted | 566 | 19.38 | 373 | 21.01 | 23.50 | ||||||||||||||||
Vested | -580 | 10.66 | - | - | - | ||||||||||||||||
Forfeited | -71 | 10.28 | -6 | 10.03 | 13.37 | ||||||||||||||||
Nonvested at December 31, 2013 | 1,339 | 13.85 | 1,055 | 13.91 | 16.95 | ||||||||||||||||
MGM China Share Option Plan [Member] | ' | ||||||||||||||||||||
Summary of Stock Option Activity | ' | ||||||||||||||||||||
A summary of activity under the MGM China Plan for the year ended December 31, 2013 is presented below: | |||||||||||||||||||||
Stock options | |||||||||||||||||||||
Units | Weighted | Weighted | Aggregate | ||||||||||||||||||
(000’s) | Average | Average | Intrinsic | ||||||||||||||||||
Exercise | Remaining | Value | |||||||||||||||||||
Price | Contractual | (000’s) | |||||||||||||||||||
Term | |||||||||||||||||||||
Outstanding at January 1, 2013 | 19,235 | $ | 1.98 | ||||||||||||||||||
Granted | 1,110 | 3.20 | |||||||||||||||||||
Exercised | -2,704 | 2.00 | |||||||||||||||||||
Forfeited or expired | -725 | 2.05 | |||||||||||||||||||
Outstanding at December 31, 2013 | 16,916 | 2.06 | 7.49 | $ | 37,291 | ||||||||||||||||
Vested and expected to vest at December 31, 2013 | 16,394 | 2.06 | 7.48 | $ | 21,396 | ||||||||||||||||
Exercisable at December 31, 2013 | 6,484 | 1.98 | 7.34 | $ | 14,769 | ||||||||||||||||
Employee_Benefit_Plans_Tables
Employee Benefit Plans (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Compensation And Retirement Disclosure [Abstract] | ' | ||||||||||||||||
Table Outlining Company's Participation in Pension Plan | ' | ||||||||||||||||
The Company’s participation in the Pension Plan is outlined in the table below. | |||||||||||||||||
Expiration Date | |||||||||||||||||
Pension Protection Act | of Collective | ||||||||||||||||
EIN/Pension | Zone Status (1) | Bargaining | |||||||||||||||
Pension Fund | Plan Number | 2012 | 2011 | Agreements (2) | |||||||||||||
Southern Nevada Culinary and Bartenders Pension Plan | 88-6016617/001 | Green | Green | 11/12/14 - 5/31/18 | |||||||||||||
-1 | The trustees of the Pension Plan have elected to apply the extended amortization and the special ten year asset smoothing rules under the Pension Relief Act of 2010. | ||||||||||||||||
-2 | The Company is party to ten collective-bargaining agreements that require contributions to the Pension Plan. The agreements between CityCenter Hotel Casino, LLC, Bellagio, Mandalay Corp., MGM Grand Hotel, LLC and the Local Joint Executive Board of Las Vegas are the most significant because more than half of the Company’s employee participants in the Pension Plan are covered by those four agreements. | ||||||||||||||||
Schedule of Contributions of Company's Multiemployer Pension Plans and Other Multiemployer Benefit Plans | ' | ||||||||||||||||
Contributions to the Company’s multiemployer pension plans and other multiemployer benefit plans were as follows: | |||||||||||||||||
Year Ended December 31, | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
(In thousands) | |||||||||||||||||
Multiemployer Pension Plans | |||||||||||||||||
Southern Nevada Culinary and Bartenders Pension Plan | $ | 37,691 | $ | 35,556 | $ | 31,476 | |||||||||||
Other pension plans not individually significant | 8,280 | 8,083 | 7,812 | ||||||||||||||
Total multiemployer pension plans | $ | 45,971 | $ | 43,639 | $ | 39,288 | |||||||||||
Multiemployer Benefit Plans Other Than Pensions | |||||||||||||||||
UNITE HERE Health | $ | 167,494 | $ | 162,453 | $ | 160,270 | |||||||||||
Other | 15,367 | 14,172 | 13,608 | ||||||||||||||
Total multiemployer benefit plans other than pensions | $ | 182,861 | $ | 176,625 | $ | 173,878 | |||||||||||
Property_Transactions_Net_Tabl
Property Transactions, Net (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Text Block [Abstract] | ' | ||||||||||||
Schedule of Property Transactions, Net | ' | ||||||||||||
Property transactions, net consisted of the following: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
(In thousands) | |||||||||||||
Corporate buildings impairment charge | $ | 44,510 | $ | - | $ | - | |||||||
Other Nevada land impairment charge | 20,354 | - | - | ||||||||||
Grand Victoria investment impairment | 36,607 | 85,009 | - | ||||||||||
Borgata investment impairment | - | 65,000 | 61,962 | ||||||||||
Las Vegas Strip land impairment | - | 366,406 | - | ||||||||||
Atlantic City land impairment | - | 166,569 | - | ||||||||||
Silver Legacy investment impairment | - | - | 22,966 | ||||||||||
Circus Circus Reno impairment | - | - | 79,658 | ||||||||||
Other property transactions, net | 23,290 | 25,065 | 14,012 | ||||||||||
$ | 124,761 | $ | 708,049 | $ | 178,598 | ||||||||
Segment_Information_Tables
Segment Information (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||
Schedule of Segment Information | ' | ||||||||||||
The following tables present the Company’s segment information: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
(In thousands) | |||||||||||||
Net Revenues: | |||||||||||||
Wholly owned domestic resorts | $ | 6,052,644 | $ | 5,932,791 | $ | 5,892,902 | |||||||
MGM China | 3,316,928 | 2,807,676 | 1,534,963 | ||||||||||
Reportable segment net revenues | 9,369,572 | 8,740,467 | 7,427,865 | ||||||||||
Corporate and other | 440,091 | 420,377 | 421,447 | ||||||||||
$ | 9,809,663 | $ | 9,160,844 | $ | 7,849,312 | ||||||||
Adjusted EBITDA: | |||||||||||||
Wholly owned domestic resorts | $ | 1,442,686 | $ | 1,325,220 | $ | 1,298,116 | |||||||
MGM China | 814,109 | 679,345 | 359,686 | ||||||||||
Reportable segment Adjusted Property EBITDA | 2,256,795 | 2,004,565 | 1,657,802 | ||||||||||
Corporate and other | -157,983 | -286,166 | -101,233 | ||||||||||
2,098,812 | 1,718,399 | 1,556,569 | |||||||||||
Other operating income (expense): | |||||||||||||
Preopening and start-up expenses | -13,314 | -2,127 | 316 | ||||||||||
Property transactions, net | -124,761 | -708,049 | -178,598 | ||||||||||
Gain on MGM China transaction | - | - | 3,496,005 | ||||||||||
Depreciation and amortization | -849,225 | -927,697 | -817,146 | ||||||||||
Operating income | 1,111,512 | 80,526 | 4,057,146 | ||||||||||
Non-operating expense: | |||||||||||||
Interest expense, net of amounts capitalized | -857,347 | -1,116,358 | -1,086,832 | ||||||||||
Non-operating items from unconsolidated affiliates | -157,338 | -90,020 | -119,013 | ||||||||||
Other, net | -9,062 | -608,361 | -19,670 | ||||||||||
-1,023,747 | -1,814,739 | -1,225,515 | |||||||||||
Income (loss) before income taxes | 87,765 | -1,734,213 | 2,831,631 | ||||||||||
Benefit (provision) for income taxes | -31,263 | 117,301 | 403,313 | ||||||||||
Net income (loss) | 56,502 | -1,616,912 | 3,234,944 | ||||||||||
Less: Net income attributable to noncontrolling interests | -213,108 | -150,779 | -120,307 | ||||||||||
Net income (loss) attributable to MGM Resorts International | $ | (156,606) | $ | (1,767,691) | $ | 3,114,637 | |||||||
Schedule of Segment Capital Expenditures Information | ' | ||||||||||||
At December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
(In thousands) | |||||||||||||
Total assets: | |||||||||||||
Wholly owned domestic resorts | $ | 13,151,719 | $ | 13,442,067 | |||||||||
MGM China | 9,203,742 | 9,097,845 | |||||||||||
Reportable segment total assets | 22,355,461 | 22,539,912 | |||||||||||
Corporate and other | 3,776,414 | 3,750,535 | |||||||||||
Eliminated in consolidation | -21,690 | -5,709 | |||||||||||
$ | 26,110,185 | $ | 26,284,738 | ||||||||||
At December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
(In thousands) | |||||||||||||
Property and equipment, net: | |||||||||||||
Wholly owned domestic resorts | $ | 11,787,880 | $ | 12,145,724 | |||||||||
MGM China | 957,769 | 737,920 | |||||||||||
Reportable segment property and equipment, net | 12,745,649 | 12,883,644 | |||||||||||
Corporate and other | 1,331,253 | 1,316,717 | |||||||||||
Eliminated in consolidation | -21,690 | -5,709 | |||||||||||
$ | 14,055,212 | $ | 14,194,652 | ||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
(In thousands) | |||||||||||||
Capital expenditures: | |||||||||||||
Wholly owned domestic resorts | $ | 216,147 | $ | 258,519 | $ | 235,638 | |||||||
MGM China | 254,516 | 80,018 | 26,649 | ||||||||||
Reportable segment capital expenditures | 470,663 | 338,537 | 262,287 | ||||||||||
Corporate and other | 107,442 | 89,935 | 38,957 | ||||||||||
Eliminated in consolidation | -15,981 | -5,709 | - | ||||||||||
$ | 562,124 | $ | 422,763 | $ | 301,244 | ||||||||
Consolidating_Condensed_Financ1
Consolidating Condensed Financial Information (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||
Organization Consolidation And Presentation Of Financial Statements [Abstract] | ' | ||||||||||||||||||||||||||||
Schedule of Condensed Consolidating Balance Sheet Information | ' | ||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING BALANCE SHEET INFORMATION | |||||||||||||||||||||||||||||
At December 31, 2013 | |||||||||||||||||||||||||||||
Parent | Guarantor | Non-Guarantor | Elimination | Consolidated | |||||||||||||||||||||||||
Subsidiaries | Subsidiaries | ||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Current assets | $ | 494,296 | $ | 903,537 | $ | 1,322,170 | $ | -564 | $ | 2,719,439 | |||||||||||||||||||
Property and equipment, net | - | 12,552,828 | 1,514,356 | -11,972 | 14,055,212 | ||||||||||||||||||||||||
Investments in subsidiaries | 20,017,270 | 4,037,168 | - | -24,054,438 | - | ||||||||||||||||||||||||
Investments in and advances to unconsolidated affiliates | - | 1,367,071 | 7,765 | - | 1,374,836 | ||||||||||||||||||||||||
Other non-current assets | 167,552 | 542,259 | 7,250,887 | - | 7,960,698 | ||||||||||||||||||||||||
$ | 20,679,118 | $ | 19,402,863 | $ | 10,095,178 | $ | (24,066,974) | $ | 26,110,185 | ||||||||||||||||||||
Current liabilities | $ | 340,343 | $ | 959,118 | $ | 941,431 | $ | -25,564 | $ | 2,215,328 | |||||||||||||||||||
Intercompany accounts | 1,446,952 | -1,470,305 | 23,353 | - | - | ||||||||||||||||||||||||
Deferred income taxes | 2,120,676 | - | 309,738 | - | 2,430,414 | ||||||||||||||||||||||||
Long-term debt | 12,441,112 | 4,836 | 1,001,282 | - | 13,447,230 | ||||||||||||||||||||||||
Other long-term obligations | 98,856 | 41,758 | 976 | - | 141,590 | ||||||||||||||||||||||||
Total liabilities | 16,447,939 | -464,593 | 2,276,780 | -25,564 | 18,234,562 | ||||||||||||||||||||||||
MGM Resorts International stockholders’ equity | 4,231,179 | 19,867,456 | 4,173,954 | -24,041,410 | 4,231,179 | ||||||||||||||||||||||||
Noncontrolling interests | - | - | 3,644,444 | - | 3,644,444 | ||||||||||||||||||||||||
Total stockholders’ equity | 4,231,179 | 19,867,456 | 7,818,398 | -24,041,410 | 7,875,623 | ||||||||||||||||||||||||
$ | 20,679,118 | $ | 19,402,863 | $ | 10,095,178 | $ | -24,066,974 | $ | 26,110,185 | ||||||||||||||||||||
At December 31, 2012 | |||||||||||||||||||||||||||||
Parent | Guarantor | Non-Guarantor | Elimination | Consolidated | |||||||||||||||||||||||||
Subsidiaries | Subsidiaries | ||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Current assets | $ | 438,878 | $ | 891,826 | $ | 1,176,844 | $ | -456 | $ | 2,507,092 | |||||||||||||||||||
Property and equipment, net | - | 12,881,152 | 1,325,472 | -11,972 | 14,194,652 | ||||||||||||||||||||||||
Investments in subsidiaries | 19,785,312 | 4,077,228 | - | -23,862,540 | - | ||||||||||||||||||||||||
Investments in and advances to unconsolidated affiliates | - | 1,437,151 | 7,396 | - | 1,444,547 | ||||||||||||||||||||||||
Other non-current assets | 163,372 | 541,634 | 7,433,441 | - | 8,138,447 | ||||||||||||||||||||||||
$ | 20,387,562 | $ | 19,828,991 | $ | 9,943,153 | $ | -23,874,968 | $ | 26,284,738 | ||||||||||||||||||||
Current liabilities | $ | 272,138 | $ | 989,864 | $ | 672,125 | $ | -8,456 | $ | 1,925,671 | |||||||||||||||||||
Intercompany accounts | 960,610 | -983,288 | 22,678 | - | - | ||||||||||||||||||||||||
Deferred income taxes | 2,222,823 | - | 251,066 | - | 2,473,889 | ||||||||||||||||||||||||
Long-term debt | 12,432,581 | 155,413 | 1,001,289 | - | 13,589,283 | ||||||||||||||||||||||||
Other long-term obligations | 133,862 | 45,303 | 714 | - | 179,879 | ||||||||||||||||||||||||
Total liabilities | 16,022,014 | 207,292 | 1,947,872 | -8,456 | 18,168,722 | ||||||||||||||||||||||||
MGM Resorts International stockholders’ equity | 4,365,548 | 19,621,699 | 4,244,813 | -23,866,512 | 4,365,548 | ||||||||||||||||||||||||
Noncontrolling interests | - | - | 3,750,468 | - | 3,750,468 | ||||||||||||||||||||||||
Total stockholders’ equity | 4,365,548 | 19,621,699 | 7,995,281 | -23,866,512 | 8,116,016 | ||||||||||||||||||||||||
$ | 20,387,562 | $ | 19,828,991 | $ | 9,943,153 | $ | (23,874,968) | $ | 26,284,738 | ||||||||||||||||||||
Schedule of Condensed Consolidating Statement of Operations and Comprehensive Income Information | ' | ||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME INFORMATION | |||||||||||||||||||||||||||||
Year Ended December 31, 2013 | |||||||||||||||||||||||||||||
Parent | Guarantor | Non- | Elimination | Consolidated | |||||||||||||||||||||||||
Subsidiaries | Guarantor | ||||||||||||||||||||||||||||
Subsidiaries | |||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Net revenues | $ | - | $ | 5,955,001 | $ | 3,856,728 | $ | -2,066 | $ | 9,809,663 | |||||||||||||||||||
Equity in subsidiaries’ earnings | 663,605 | 289,384 | - | -952,989 | - | ||||||||||||||||||||||||
Expenses: | |||||||||||||||||||||||||||||
Casino and hotel operations | 5,644 | 3,622,940 | 2,632,198 | (2,066 | ) | 6,258,716 | |||||||||||||||||||||||
General and administrative | 4,432 | 1,051,757 | 222,261 | - | 1,278,450 | ||||||||||||||||||||||||
Corporate expense | 66,307 | 125,500 | 41,938 | (17,000 | ) | 216,745 | |||||||||||||||||||||||
Preopening and start-up expenses | - | 4,205 | 9,109 | - | 13,314 | ||||||||||||||||||||||||
Property transactions, net | - | 126,773 | (2,012 | ) | - | 124,761 | |||||||||||||||||||||||
Depreciation and amortization | - | 522,900 | 326,325 | - | 849,225 | ||||||||||||||||||||||||
76,383 | 5,454,075 | 3,229,819 | -19,066 | 8,741,211 | |||||||||||||||||||||||||
Income from unconsolidated affiliates | - | 43,038 | 22 | - | 43,060 | ||||||||||||||||||||||||
Operating income (loss) | 587,222 | 833,348 | 626,931 | -935,989 | 1,111,512 | ||||||||||||||||||||||||
Interest expense, net of amounts capitalized | -805,933 | -6,333 | -45,081 | - | -857,347 | ||||||||||||||||||||||||
Other, net | 39,524 | -160,721 | -45,203 | - | -166,400 | ||||||||||||||||||||||||
Income (loss) before income taxes | -179,187 | 666,294 | 536,647 | -935,989 | 87,765 | ||||||||||||||||||||||||
Benefit (provision) for income taxes | 22,581 | 11,111 | -64,955 | - | -31,263 | ||||||||||||||||||||||||
Net income (loss) | -156,606 | 677,405 | 471,692 | -935,989 | 56,502 | ||||||||||||||||||||||||
Less: Net income attributable to noncontrolling interests | - | - | -213,108 | - | -213,108 | ||||||||||||||||||||||||
Net income (loss) attributable to MGM Resorts International | $ | -156,606 | $ | 677,405 | $ | 258,584 | $ | -935,989 | $ | -156,606 | |||||||||||||||||||
Net income (loss) | $ | -156,606 | $ | 677,405 | $ | 471,692 | $ | -935,989 | $ | 56,502 | |||||||||||||||||||
Other comprehensive income (loss), net of tax | |||||||||||||||||||||||||||||
Foreign currency translation adjustment | -1,915 | -1,915 | -3,993 | 3,830 | -3,993 | ||||||||||||||||||||||||
Other | 115 | 115 | - | (115 | ) | 115 | |||||||||||||||||||||||
Other comprehensive income (loss) | (1,800 | ) | (1,800 | ) | (3,993 | ) | 3,715 | (3,878 | ) | ||||||||||||||||||||
Comprehensive income (loss) | -158,406 | 675,605 | 467,699 | -932,274 | 52,624 | ||||||||||||||||||||||||
Less: Comprehensive income attributable to noncontrolling interests | - | - | -211,030 | - | -211,030 | ||||||||||||||||||||||||
Comprehensive income (loss) attributable to MGM Resorts International | $ | -158,406 | $ | 675,605 | $ | 256,669 | $ | (932,274) | $ | -158,406 | |||||||||||||||||||
Year Ended December 31, 2012 | |||||||||||||||||||||||||||||
Parent | Guarantor | Non- | Elimination | Consolidated | |||||||||||||||||||||||||
Subsidiaries | Guarantor | ||||||||||||||||||||||||||||
Subsidiaries | |||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Net revenues | $ | - | $ | 5,782,523 | $ | 3,379,891 | $ | -1,570 | $ | 9,160,844 | |||||||||||||||||||
Equity in subsidiaries’ earnings | -210,934 | 220,354 | - | -9,420 | - | ||||||||||||||||||||||||
Expenses: | |||||||||||||||||||||||||||||
Casino and hotel operations | 7,623 | 3,615,288 | 2,299,941 | (1,570 | ) | 5,921,282 | |||||||||||||||||||||||
General and administrative | 7,101 | 1,025,028 | 207,645 | - | 1,239,774 | ||||||||||||||||||||||||
Corporate expense | 66,285 | 168,863 | 7,859 | (8,000 | ) | 235,007 | |||||||||||||||||||||||
Preopening and start-up expenses | - | 1,486 | 641 | - | 2,127 | ||||||||||||||||||||||||
Property transactions, net | - | 704,762 | 3,287 | - | 708,049 | ||||||||||||||||||||||||
Depreciation and amortization | - | 519,074 | 408,623 | - | 927,697 | ||||||||||||||||||||||||
81,009 | 6,034,501 | 2,927,996 | -9,570 | 9,033,936 | |||||||||||||||||||||||||
Income (loss) from unconsolidated affiliates | - | -46,443 | 61 | - | -46,382 | ||||||||||||||||||||||||
Operating income (loss) | -291,943 | -78,067 | 451,956 | -1,420 | 80,526 | ||||||||||||||||||||||||
Interest expense, net of amounts capitalized | -1,053,692 | -10,986 | -51,680 | - | -1,116,358 | ||||||||||||||||||||||||
Other, net | -526,606 | -137,201 | -34,574 | - | -698,381 | ||||||||||||||||||||||||
Income (loss) before income taxes | -1,872,241 | -226,254 | 365,702 | -1,420 | -1,734,213 | ||||||||||||||||||||||||
Benefit for income taxes | 104,550 | 1,892 | 10,859 | - | 117,301 | ||||||||||||||||||||||||
Net income (loss) | -1,767,691 | -224,362 | 376,561 | -1,420 | -1,616,912 | ||||||||||||||||||||||||
Less: Net income attributable to noncontrolling interests | - | - | -150,779 | - | -150,779 | ||||||||||||||||||||||||
Net income (loss) attributable to MGM Resorts International | $ | -1,767,691 | $ | -224,362 | $ | 225,782 | $ | -1,420 | $ | -1,767,691 | |||||||||||||||||||
Net income (loss) | $ | -1,767,691 | $ | -224,362 | $ | 376,561 | $ | -1,420 | $ | -1,616,912 | |||||||||||||||||||
Other comprehensive income (loss), net of tax: | |||||||||||||||||||||||||||||
Foreign currency translation adjustment | 8,770 | 8,770 | 17,124 | (17,540 | ) | 17,124 | |||||||||||||||||||||||
Other | (445 | ) | (445 | ) | - | 445 | (445 | ) | |||||||||||||||||||||
Other comprehensive income (loss) | 8,325 | 8,325 | 17,124 | (17,095 | ) | 16,679 | |||||||||||||||||||||||
Comprehensive income (loss) | -1,759,366 | -216,037 | 393,685 | -18,515 | -1,600,233 | ||||||||||||||||||||||||
Less: Comprehensive income attributable to noncontrolling interests | - | - | -159,133 | - | -159,133 | ||||||||||||||||||||||||
Comprehensive income (loss) attributable to MGM Resorts International | $ | (1,759,366) | $ | (216,037) | $ | 234,552 | $ | (18,515) | $ | (1,759,366) | |||||||||||||||||||
Year Ended December 31, 2011 | |||||||||||||||||||||||||||||
Parent | Guarantor | Non- | Elimination | Consolidated | |||||||||||||||||||||||||
Subsidiaries | Guarantor | ||||||||||||||||||||||||||||
Subsidiaries | |||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Net revenues | $ | - | $ | 5,745,417 | $ | 2,106,195 | $ | -2,300 | $ | 7,849,312 | |||||||||||||||||||
Equity in subsidiaries’ earnings | 3,899,017 | 3,761,538 | - | -7,660,555 | - | ||||||||||||||||||||||||
Expenses: | |||||||||||||||||||||||||||||
Casino and hotel operations | 10,030 | 3,610,357 | 1,408,274 | -2,300 | 5,026,361 | ||||||||||||||||||||||||
General and administrative | 7,613 | 1,015,923 | 158,969 | - | 1,182,505 | ||||||||||||||||||||||||
Corporate expense | 69,958 | 104,457 | 556 | - | 174,971 | ||||||||||||||||||||||||
Preopening and start-up expenses | - | -316 | - | - | -316 | ||||||||||||||||||||||||
Property transactions, net | - | 176,063 | 2,535 | - | 178,598 | ||||||||||||||||||||||||
Gain on MGM China transaction | - | - | -3,496,005 | -3,496,005 | |||||||||||||||||||||||||
Depreciation and amortization | - | 556,538 | 260,608 | - | 817,146 | ||||||||||||||||||||||||
87,601 | 5,463,022 | -1,665,063 | -2,300 | 3,883,260 | |||||||||||||||||||||||||
Income (loss) from unconsolidated affiliates | - | -24,096 | 115,190 | - | 91,094 | ||||||||||||||||||||||||
Operating income | 3,811,416 | 4,019,837 | 3,886,448 | -7,660,555 | 4,057,146 | ||||||||||||||||||||||||
Interest expense, net of amounts capitalized | -1,023,090 | -18,882 | -44,860 | - | -1,086,832 | ||||||||||||||||||||||||
Other, net | 26,608 | -114,842 | -50,449 | - | -138,683 | ||||||||||||||||||||||||
Income before income taxes | 2,814,934 | 3,886,113 | 3,791,139 | -7,660,555 | 2,831,631 | ||||||||||||||||||||||||
Benefit (provision) for income taxes | 299,703 | -18 | 103,628 | - | 403,313 | ||||||||||||||||||||||||
Net income | 3,114,637 | 3,886,095 | 3,894,767 | -7,660,555 | 3,234,944 | ||||||||||||||||||||||||
Less: Net income attributable to noncontrolling interests | - | - | -120,307 | - | -120,307 | ||||||||||||||||||||||||
Net income attributable to MGM Resorts International | $ | 3,114,637 | $ | 3,886,095 | $ | 3,774,460 | $ | -7,660,555 | $ | 3,114,637 | |||||||||||||||||||
Net income | $ | 3,114,637 | $ | 3,886,095 | $ | 3,894,767 | $ | -7,660,555 | $ | 3,234,944 | |||||||||||||||||||
Other comprehensive income (loss), net of tax: | |||||||||||||||||||||||||||||
Foreign currency translation adjustment | 6,316 | 6,316 | 11,692 | -12,632 | 11,692 | ||||||||||||||||||||||||
Other | -37 | -37 | - | 37 | -37 | ||||||||||||||||||||||||
Other comprehensive income (loss) | 6,279 | 6,279 | 11,692 | -12,595 | 11,655 | ||||||||||||||||||||||||
Comprehensive income | 3,120,916 | 3,892,374 | 3,906,459 | -7,673,150 | 3,246,599 | ||||||||||||||||||||||||
Less: Comprehensive income attributable to noncontrolling interests | - | - | -125,683 | - | -125,683 | ||||||||||||||||||||||||
Comprehensive income attributable to MGM Resorts International | $ | 3,120,916 | $ | 3,892,374 | $ | 3,780,776 | $ | -7,673,150 | $ | 3,120,916 | |||||||||||||||||||
Schedule of Condensed Consolidating Statement of Cash Flows Information | ' | ||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS INFORMATION | |||||||||||||||||||||||||||||
Year Ended December 31, 2013 | |||||||||||||||||||||||||||||
Parent | Guarantor | Non- | Elimination | Consolidated | |||||||||||||||||||||||||
Subsidiaries | Guarantor | ||||||||||||||||||||||||||||
Subsidiaries | |||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Cash flows from operating activities | |||||||||||||||||||||||||||||
Net cash provided by (used in) operating activities | $ | -819,282 | $ | 1,089,341 | $ | 1,040,389 | $ | - | $ | 1,310,448 | |||||||||||||||||||
Cash flows from investing activities | |||||||||||||||||||||||||||||
Capital expenditures, net of construction payable | - | -311,635 | -250,489 | - | -562,124 | ||||||||||||||||||||||||
Dispositions of property and equipment | - | 11,648 | 6,382 | - | 18,030 | ||||||||||||||||||||||||
Investments in and advances to unconsolidated affiliates | -23,600 | -5,353 | - | - | -28,953 | ||||||||||||||||||||||||
Distributions from unconsolidated affiliates in excess of earnings | - | 110 | - | - | 110 | ||||||||||||||||||||||||
Investments in treasury securities - maturities longer than 90 days | - | -219,546 | - | - | -219,546 | ||||||||||||||||||||||||
Proceeds from treasury securities - maturities longer than 90 days | - | 252,592 | - | - | 252,592 | ||||||||||||||||||||||||
Other | - | 1,354 | -21,600 | - | -20,246 | ||||||||||||||||||||||||
Net cash used in investing activities | -23,600 | -270,830 | -265,707 | - | -560,137 | ||||||||||||||||||||||||
Cash flows from financing activities | |||||||||||||||||||||||||||||
Net borrowings under bank credit facilities - maturities of 90 days or less | -28,000 | - | - | - | -28,000 | ||||||||||||||||||||||||
Borrowings under bank credit facilities - maturities longer than 90 days | 2,343,000 | - | 450,000 | - | 2,793,000 | ||||||||||||||||||||||||
Repayments under bank credit facilities - maturities longer than 90 days | -2,343,000 | - | -450,000 | - | -2,793,000 | ||||||||||||||||||||||||
Issuance of senior notes | 500,000 | - | - | - | 500,000 | ||||||||||||||||||||||||
Retirement of senior notes, including premiums paid | -462,226 | -150,036 | - | - | -612,262 | ||||||||||||||||||||||||
Debt issuance costs | -23,576 | - | - | - | -23,576 | ||||||||||||||||||||||||
Intercompany accounts | 985,465 | -657,260 | -328,205 | - | - | ||||||||||||||||||||||||
Distributions to noncontrolling interest owners | - | - | -318,348 | - | -318,348 | ||||||||||||||||||||||||
Other | -4,506 | - | -3,016 | - | -7,522 | ||||||||||||||||||||||||
Net cash provided by (used in) financing activities | 967,157 | -807,296 | -649,569 | - | -489,708 | ||||||||||||||||||||||||
Effect of exchange rate on cash | - | - | -443 | - | -443 | ||||||||||||||||||||||||
Cash and cash equivalents | |||||||||||||||||||||||||||||
Net increase for the period | 124,275 | 11,215 | 124,670 | - | 260,160 | ||||||||||||||||||||||||
Balance, beginning of period | 254,385 | 226,242 | 1,062,882 | - | 1,543,509 | ||||||||||||||||||||||||
Balance, end of period | $ | 378,660 | $ | 237,457 | $ | 1,187,552 | $ | - | $ | 1,803,669 | |||||||||||||||||||
Year Ended December 31, 2012 | |||||||||||||||||||||||||||||
Parent | Guarantor | Non- | Elimination | Consolidated | |||||||||||||||||||||||||
Subsidiaries | Guarantor | ||||||||||||||||||||||||||||
Subsidiaries | |||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Cash flows from operating activities | |||||||||||||||||||||||||||||
Net cash provided by (used in) operating activities | $ | -952,653 | $ | 989,144 | $ | 872,860 | $ | - | $ | 909,351 | |||||||||||||||||||
Cash flows from investing activities | |||||||||||||||||||||||||||||
Capital expenditures, net of construction payable | - | -332,089 | -90,674 | - | -422,763 | ||||||||||||||||||||||||
Dispositions of property and equipment | - | 191 | 235 | - | 426 | ||||||||||||||||||||||||
Investments in and advances to unconsolidated affiliates | -46,800 | -7,500 | - | - | -54,300 | ||||||||||||||||||||||||
Distributions from unconsolidated affiliates in excess of earnings | - | 1,723 | - | - | 1,723 | ||||||||||||||||||||||||
Investments in treasury securities - maturities longer than 90 days | - | -285,469 | - | - | -285,469 | ||||||||||||||||||||||||
Proceeds from treasury securities - maturities longer than 90 days | - | 315,438 | - | - | 315,438 | ||||||||||||||||||||||||
Other | -1,973 | 501 | - | - | -1,472 | ||||||||||||||||||||||||
Net cash used in investing activities | -48,773 | -307,205 | -90,439 | - | -446,417 | ||||||||||||||||||||||||
Cash flows from financing activities | |||||||||||||||||||||||||||||
Net borrowings under bank credit facilities - maturities of 90 days or less | 1,331,500 | - | 447,762 | - | 1,779,262 | ||||||||||||||||||||||||
Borrowings under bank credit facilities - maturities longer than 90 days | - | - | 1,350,000 | - | 1,350,000 | ||||||||||||||||||||||||
Repayments under bank credit facilities - maturities longer than 90 days | -1,834,128 | - | -1,800,000 | - | -3,634,128 | ||||||||||||||||||||||||
Issuance of senior notes | 4,100,000 | - | - | - | 4,100,000 | ||||||||||||||||||||||||
Retirement of senior notes | -4,009,117 | - | - | - | -4,009,117 | ||||||||||||||||||||||||
Debt issuance costs | -119,197 | - | -41,048 | - | -160,245 | ||||||||||||||||||||||||
Intercompany accounts | 996,462 | -685,752 | -310,710 | - | - | ||||||||||||||||||||||||
Distributions to noncontrolling interest owners | - | - | -206,806 | - | -206,806 | ||||||||||||||||||||||||
Other | -5,035 | -833 | -57 | - | -5,925 | ||||||||||||||||||||||||
Net cash provided by (used in) financing activities | 460,485 | -686,585 | -560,859 | - | -786,959 | ||||||||||||||||||||||||
Effect of exchange rate on cash | - | - | 1,621 | - | 1,621 | ||||||||||||||||||||||||
Cash and cash equivalents | |||||||||||||||||||||||||||||
Net increase (decrease) for the period | -540,941 | -4,646 | 223,183 | - | -322,404 | ||||||||||||||||||||||||
Balance, beginning of period | 795,326 | 230,888 | 839,699 | - | 1,865,913 | ||||||||||||||||||||||||
Balance, end of period | $ | 254,385 | $ | 226,242 | $ | 1,062,882 | $ | - | $ | 1,543,509 | |||||||||||||||||||
Year Ended December 31, 2011 | |||||||||||||||||||||||||||||
Parent | Guarantor | Non-Guarantor | Elimination | Consolidated | |||||||||||||||||||||||||
Subsidiaries | Subsidiaries | ||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Cash flows from operating activities | |||||||||||||||||||||||||||||
Net cash provided by (used in) operating activities | $ | -716,556 | $ | 918,628 | $ | 473,054 | $ | - | $ | 675,126 | |||||||||||||||||||
Cash flows from investing activities | |||||||||||||||||||||||||||||
Capital expenditures, net of construction payable | - | -263,469 | -37,775 | - | -301,244 | ||||||||||||||||||||||||
Dispositions of property and equipment | - | 147 | 201 | - | 348 | ||||||||||||||||||||||||
Acquisition of MGM China, net of cash paid | - | - | 407,046 | - | 407,046 | ||||||||||||||||||||||||
Investments in and advances to unconsolidated affiliates | -92,200 | -36,648 | - | - | -128,848 | ||||||||||||||||||||||||
Distributions from unconsolidated affiliates in excess of earnings | - | 2,212 | - | - | 2,212 | ||||||||||||||||||||||||
Investments in treasury securities - maturities longer than 90 days | - | -330,313 | - | - | -330,313 | ||||||||||||||||||||||||
Proceeds from treasury securities - maturities longer than 90 days | - | 330,130 | - | - | 330,130 | ||||||||||||||||||||||||
Other | - | -643 | - | - | -643 | ||||||||||||||||||||||||
Net cash provided by (used in) investing activities | -92,200 | -298,584 | 369,472 | - | -21,312 | ||||||||||||||||||||||||
Cash flows from financing activities | |||||||||||||||||||||||||||||
Net borrowings (repayments) under bank credit facilities - maturities of 90 days or less | 167,391 | - | -473,271 | - | -305,880 | ||||||||||||||||||||||||
Borrowings under bank credit facilities - maturities longer than 90 days | 5,826,993 | - | 1,732,119 | - | 7,559,112 | ||||||||||||||||||||||||
Repayments under bank credit facilities - maturities longer than 90 days | -5,002,384 | - | -1,350,000 | - | -6,352,384 | ||||||||||||||||||||||||
Issuance of senior notes | 311,415 | - | - | - | 311,415 | ||||||||||||||||||||||||
Retirement of senior notes | -356,700 | -137,116 | - | - | -493,816 | ||||||||||||||||||||||||
Intercompany accounts | 586,331 | -529,578 | -56,753 | - | - | ||||||||||||||||||||||||
Distributions to noncontrolling interest owners | - | - | -3,768 | - | -3,768 | ||||||||||||||||||||||||
Other | -1,421 | -1,263 | -73 | - | -2,757 | ||||||||||||||||||||||||
Net cash provided by (used in) financing activities | 1,531,625 | -667,957 | -151,746 | - | 711,922 | ||||||||||||||||||||||||
Effect of exchange rate on cash | - | - | 1,213 | - | 1,213 | ||||||||||||||||||||||||
Cash and cash equivalents | |||||||||||||||||||||||||||||
Net increase (decrease) for the period | 722,869 | -47,913 | 691,993 | - | 1,366,949 | ||||||||||||||||||||||||
Balance, beginning of period | 72,457 | 278,801 | 147,706 | - | 498,964 | ||||||||||||||||||||||||
Balance, end of period | $ | 795,326 | $ | 230,888 | $ | 839,699 | $ | - | $ | 1,865,913 | |||||||||||||||||||
Selected_Quarterly_Financial_R1
Selected Quarterly Financial Results (Unaudited) (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ||||||||||||||||||||||||||||
Schedule of Selected Quarterly Financial Results | ' | ||||||||||||||||||||||||||||
Quarter | |||||||||||||||||||||||||||||
First | Second | Third | Fourth | Total | |||||||||||||||||||||||||
(In thousands, except for per share amounts) | |||||||||||||||||||||||||||||
2013 | |||||||||||||||||||||||||||||
Net revenues | $ | 2,352,148 | $ | 2,481,265 | $ | 2,463,037 | $ | 2,513,213 | $ | 9,809,663 | |||||||||||||||||||
Operating income | 301,817 | 231,602 | 247,763 | 330,330 | 1,111,512 | ||||||||||||||||||||||||
Net income (loss) | 22,578 | -30,578 | 23,625 | 40,877 | 56,502 | ||||||||||||||||||||||||
Net income (loss) attributable to MGM Resorts International | 6,546 | -92,958 | -31,859 | -38,335 | -156,606 | ||||||||||||||||||||||||
Basic income (loss) per share | $ | 0.01 | $ | -0.19 | $ | -0.07 | $ | -0.08 | $ | -0.32 | |||||||||||||||||||
Diluted income (loss) per share | $ | 0.01 | $ | -0.19 | $ | -0.07 | $ | -0.08 | $ | -0.32 | |||||||||||||||||||
2012 | |||||||||||||||||||||||||||||
Net revenues | $ | 2,287,590 | $ | 2,323,765 | $ | 2,254,978 | $ | 2,294,511 | $ | 9,160,844 | |||||||||||||||||||
Operating income (loss) | 192,606 | 175,375 | 137,401 | -424,856 | 80,526 | ||||||||||||||||||||||||
Net loss | -203,307 | -70,434 | -154,674 | -1,188,497 | -1,616,912 | ||||||||||||||||||||||||
Net loss attributable to MGM Resorts International | -217,253 | -145,452 | -181,159 | -1,223,827 | -1,767,691 | ||||||||||||||||||||||||
Basic loss per share | $ | -0.44 | $ | -0.3 | $ | -0.37 | $ | -2.5 | $ | -3.62 | |||||||||||||||||||
Diluted loss per share | $ | -0.44 | $ | -0.3 | $ | -0.37 | $ | -2.5 | $ | -3.62 |
Organization_Additional_Inform
Organization - Additional Information (Detail) (USD $) | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Oct. 18, 2012 | |
Segment | Maximum [Member] | Borgata Trust [Member] | Borgata Trust [Member] | Borgata Trust [Member] | Borgata Trust [Member] | Borgata Trust [Member] | Borgata Trust [Member] | Borgata Trust [Member] | Borgata Trust [Member] | Mississippi [Member] | Elgin Riverboat Resort-Riverboat Casino - Grand Victoria [Member] | Silver Legacy [Member] | Silver Legacy [Member] | CityCenter Holdings, LLC [Member] | CityCenter Holdings, LLC [Member] | CityCenter Holdings, LLC [Member] | CityCenter Holdings, LLC [Member] | Co-Venturer [Member] | Co-Venturer [Member] | Co-Venturer [Member] | Co-Venturer [Member] | Cotai Land Concession Contract [Member] | Maryland [Member] | Forecast [Member] | Parking Garage [Member] | The Signature at MGM Grand Las Vegas [Member] | Aria and Vdara [Member] | Aria and Vdara [Member] | Crystals [Member] | Shadow Creek Golf Course [Member] | MGM China [Member] | MGM Grand Paradise SA [Member] | |
U.S. Treasury Securities [Member] | U.S. Treasury Securities [Member] | U.S. Treasury Securities [Member] | U.S. Treasury Securities [Member] | U.S. Treasury Securities [Member] | U.S. Treasury Securities [Member] | Resort | Hyatt Gaming [Member] | Eldorado LLC [Member] | Boyd [Member] | Infinity World Development Corp [Member] | Casinos | Seat | Maryland [Member] | Maryland [Member] | Tower | CityCenter Holdings, LLC [Member] | Sales [Member] | CityCenter Holdings, LLC [Member] | mi | Cotai Land Concession Contract [Member] | |||||||||||||
Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | Elgin Riverboat Resort-Riverboat Casino - Grand Victoria [Member] | Silver Legacy [Member] | Borgata Trust [Member] | CityCenter Holdings, LLC [Member] | Slot | Slot | sqft | CityCenter Holdings, LLC [Member] | acre | |||||||||||||||||||||
Room | Hotel | ||||||||||||||||||||||||||||||||
Casinos | |||||||||||||||||||||||||||||||||
sqft | |||||||||||||||||||||||||||||||||
ORGANIZATION | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of towers | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3 | ' | ' | ' | ' | ' | ' |
Number of resorts owned and operated | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Distance from Las Vegas Strip resorts (in miles) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10 | ' | ' |
Percentage ownership interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 51.00% | ' |
Area of development site (in acres) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 17.8 |
Land concession contract effective date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9-Jan-13 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of hotel rooms | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,600 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of gaming tables | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 500 | 160 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of slots | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,500 | 3,600 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total estimated project budget excluding development fees eliminated in consolidation, capitalized interest and land | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $2,900,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of ownership interests | ' | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | 50.00% | 50.00% | 50.00% | 50.00% | ' | 50.00% | 50.00% | 50.00% | 50.00% | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Management fee as a percentage of revenue | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.00% | ' | ' | ' | ' |
Management fee received, percentage of EBITDA | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.00% | ' | ' | ' | ' | ' |
Annual management fee | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 38,000,000 | 32,000,000 | 33,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,000,000 | ' | ' | ' |
Number of hotel rooms | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 300 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expected development and construction cost, excluding capitalized and land related costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Number of theatre | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Area of land | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 35,000 | ' | 5,000 | ' | ' | ' | ' | ' | ' | ' |
Number of reportable segments | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of ownership interests, cost method investment | ' | ' | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Period during which trustee is responsible for selling the trust property if the trust property is not sold during the mandated sale period | ' | ' | '12 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Trust assets | ' | ' | $102,000,000 | $135,000,000 | $87,000,000 | $120,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maturity period of investments | ' | ' | ' | ' | ' | ' | '3 months | '3 months | '1 year | '1 year | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basis_of_Presentation_and_Sign3
Basis of Presentation and Significant Accounting Policies - Additional Information (Detail) (USD $) | 12 Months Ended | 3 Months Ended | 12 Months Ended | ||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 |
South Jersey Transportation Authority special revenue bonds [Member] | South Jersey Transportation Authority special revenue bonds [Member] | Foreign Country [Member] | Maximum [Member] | ||||
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Percentage of ownership interests | ' | ' | ' | ' | ' | ' | 50.00% |
Cash and cash equivalents maturity period | '90 days or less | ' | ' | ' | ' | ' | ' |
Percentage of casino receivables were due from customers residing in foreign countries | ' | ' | ' | ' | ' | 69.00% | ' |
Accounts receivable and credit risk | 'Management believes that as of December 31, 2013, no significant concentrations of credit risk existed for which an allowance had not already been recorded | ' | ' | ' | ' | ' | ' |
Other-than-temporary impairment of owned investment | ' | ' | ' | $47 | $47 | ' | ' |
Advertising expense | $153 | $139 | $121 | ' | ' | ' | ' |
Basis_of_Presentation_and_Sign4
Basis of Presentation and Significant Accounting Policies - Schedule of Estimated Useful Lives of Property and Equipment (Detail) | 12 Months Ended |
Dec. 31, 2013 | |
Minimum [Member] | Buildings and improvements [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Useful life | '20 years |
Minimum [Member] | Land improvements [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Useful life | '10 years |
Minimum [Member] | Furniture and fixtures [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Useful life | '3 years |
Minimum [Member] | Equipment [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Useful life | '3 years |
Maximum [Member] | Buildings and improvements [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Useful life | '40 years |
Maximum [Member] | Land improvements [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Useful life | '20 years |
Maximum [Member] | Furniture and fixtures [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Useful life | '20 years |
Maximum [Member] | Equipment [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Useful life | '20 years |
Basis_of_Presentation_and_Sign5
Basis of Presentation and Significant Accounting Policies - Schedule of Estimated Cost of Providing Promotional Allowances (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Revenue Recognition [Abstract] | ' | ' | ' |
Rooms | $111,842 | $109,713 | $100,968 |
Food and beverage | 294,555 | 298,111 | 274,776 |
Entertainment, retail and other | 39,606 | 35,643 | 32,705 |
Estimated costs of promotional allowances included in casino expense | $446,003 | $443,467 | $408,449 |
Basis_of_Presentation_and_Sign6
Basis of Presentation and Significant Accounting Policies - Schedule of Diluted Weighted-Average Number of Common and Common Equivalent Shares Adjustments for Potential Dilution of Share-Based Awards Outstanding (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Numerator: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income (loss) attributable to MGM Resorts International - basic | ($38,335) | ($31,859) | ($92,958) | $6,546 | ($1,223,827) | ($181,159) | ($145,452) | ($217,253) | ($156,606) | ($1,767,691) | $3,114,637 |
Interest on convertible debt, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 38,344 |
Potentially dilutive effect due to MGM China Share Option Plan | ' | ' | ' | ' | ' | ' | ' | ' | -104 | ' | ' |
Net income (loss) attributable to MGM Resorts International - diluted | ' | ' | ' | ' | ' | ' | ' | ' | ($156,710) | ($1,767,691) | $3,152,981 |
Denominator: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted-average common shares outstanding - basic | ' | ' | ' | ' | ' | ' | ' | ' | 489,661 | 488,988 | 488,652 |
Potential dilution from share-based awards | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,577 |
Potential dilution from assumed conversion of convertible debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 70,666 |
Weighted-average common and common equivalent shares - diluted | ' | ' | ' | ' | ' | ' | ' | ' | 489,661 | 488,988 | 560,895 |
Anti-dilutive share-based awards excluded from the calculation of diluted earnings per share | ' | ' | ' | ' | ' | ' | ' | ' | 18,468 | 25,041 | 21,886 |
Basis_of_Presentation_and_Sign7
Basis of Presentation and Significant Accounting Policies - Schedule of Accumulated Other Comprehensive Income (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Accumulated Other Comprehensive Income Loss Net Of Tax [Abstract] | ' | ' |
Currency translation adjustments | $24,733 | $28,726 |
Other comprehensive loss from unconsolidated affiliates | -578 | -693 |
Accumulated other comprehensive income | 24,155 | 28,033 |
Less: Currency translation adjustment attributable to noncontrolling interests | -11,652 | -13,730 |
Accumulated other comprehensive income attributable to MGM Resorts International | $12,503 | $14,303 |
MGM_China_Acquisition_Addition
MGM China Acquisition - Additional Information (Detail) | 12 Months Ended | 0 Months Ended | ||
Share data in Millions, except Per Share data, unless otherwise specified | Dec. 31, 2011 | Jun. 03, 2011 | Jun. 03, 2011 | Jun. 03, 2011 |
USD ($) | MGM China [Member] | MGM China [Member] | MGM China [Member] | |
USD ($) | MGM Grand Paradise SA [Member] | Initial public offering [Member] | ||
USD ($) | HKD | |||
Business Acquisition [Line Items] | ' | ' | ' | ' |
Number of shares issued | ' | ' | ' | 760 |
Initial public offering as a percentage of the post issuance capital stock | ' | ' | ' | 20.00% |
Initial public offering issue price (in dollars per share) | ' | ' | ' | 15.34 |
Additional percentage of ownership acquired | ' | 1.00% | ' | ' |
Cost of acquisition | ' | $75,000,000 | ' | ' |
Percentage of ownership interest after acquisition | ' | 51.00% | ' | ' |
Number of shares | ' | 59 | ' | ' |
Percentage of ownership before IPO | ' | ' | 50.00% | ' |
Percentage of assets, liabilities and noncontrolling interest acquired | ' | ' | 100.00% | ' |
Fair value of equity interests, assets acquired and liabilities assumed, net | ' | ' | 7,500,000,000 | ' |
Gain on acquisition | $3,496,005,000 | ' | $3,500,000,000 | ' |
MGM_China_Acquisition_Schedule
MGM China Acquisition - Schedule of Consolidated Results of Financial Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
MGM China [Member] | ' | ' | ' |
Business Acquisition [Line Items] | ' | ' | ' |
Net revenues | $3,316,928 | $2,807,676 | $1,534,963 |
Operating income | 501,021 | 302,092 | 137,440 |
Net income | 414,039 | 289,631 | 238,419 |
MGM Resorts International [Member] | ' | ' | ' |
Business Acquisition [Line Items] | ' | ' | ' |
Net income | $211,160 | $147,712 | $121,594 |
MGM_China_Acquisition_Schedule1
MGM China Acquisition - Schedule of Unaudited Pro Forma Consolidated Financial Information (Detail) (MGM China [Member], USD $) | 12 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2011 |
MGM China [Member] | ' |
Business Acquisition [Line Items] | ' |
Net revenues | $8,920,343 |
Operating income | 577,271 |
Net loss | -262,452 |
Net loss attributable to MGM Resorts International | ($435,099) |
Loss per share of common stock attributable to MGM Resorts International: | ' |
Basic | ($0.89) |
Diluted | ($0.89) |
Accounts_Receivable_Net_Schedu
Accounts Receivable, Net - Schedule of Accounts Receivable, Net (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Accounts receivable, gross | $569,930 | $541,588 |
Less: Allowance for doubtful accounts | -81,713 | -97,911 |
Accounts receivable, net | 488,217 | 443,677 |
Casino [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Accounts receivable, gross | 309,620 | 294,312 |
Hotel [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Accounts receivable, gross | 156,201 | 147,476 |
Other [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Accounts receivable, gross | $104,109 | $99,800 |
Property_and_Equipment_Net_Sch
Property and Equipment, Net - Schedule of Property and Equipment, Net (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | $20,220,265 | $19,907,902 |
Less: Accumulated depreciation and amortization | -6,165,053 | -5,713,250 |
Property and equipment, net | 14,055,212 | 14,194,652 |
Land [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | 6,477,489 | 6,499,492 |
Buildings, building improvements and land improvements [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | 9,264,455 | 9,272,556 |
Furniture, fixtures and equipment [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | 4,040,887 | 3,995,161 |
Construction in Progress [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | $437,434 | $140,693 |
Investments_in_and_Advances_to2
Investments in and Advances to Unconsolidated Affiliates - Schedule of Investments in and Advances to Unconsolidated Affiliates (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Schedule of Equity Method Investments [Line Items] | ' | ' |
Investments in and advances to unconsolidated affiliates | $1,374,836 | $1,444,547 |
CityCenter Holdings, LLC [Member] | ' | ' |
Schedule of Equity Method Investments [Line Items] | ' | ' |
Investments in and advances to unconsolidated affiliates | 1,172,087 | 1,220,741 |
Elgin Riverboat Resort-Riverboat Casino [Member] | ' | ' |
Schedule of Equity Method Investments [Line Items] | ' | ' |
Investments in and advances to unconsolidated affiliates | 169,579 | 206,296 |
Silver Legacy and Other [Member] | ' | ' |
Schedule of Equity Method Investments [Line Items] | ' | ' |
Investments in and advances to unconsolidated affiliates | $33,170 | $17,510 |
Investments_in_and_Advances_to3
Investments in and Advances to Unconsolidated Affiliates - Schedule of Investments in and Advances to Unconsolidated Affiliates (Parenthetical) (Detail) | Dec. 31, 2013 | Dec. 31, 2012 | Mar. 31, 2012 |
CityCenter Holdings, LLC [Member] | ' | ' | ' |
Schedule of Equity Method Investments [Line Items] | ' | ' | ' |
Percentage of ownership interests | 50.00% | 50.00% | 50.00% |
Elgin Riverboat Resort-Riverboat Casino [Member] | ' | ' | ' |
Schedule of Equity Method Investments [Line Items] | ' | ' | ' |
Percentage of ownership interests | 50.00% | 50.00% | ' |
Silver Legacy [Member] | ' | ' | ' |
Schedule of Equity Method Investments [Line Items] | ' | ' | ' |
Percentage of ownership interests | 50.00% | 50.00% | ' |
Investments_in_and_Advances_to4
Investments in and Advances to Unconsolidated Affiliates - Schedule of Results of Operations of Unconsolidated Affiliates (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Equity Method Investments And Joint Ventures [Abstract] | ' | ' | ' |
Income (loss) from unconsolidated affiliates | $43,060 | ($46,382) | $91,094 |
Preopening and start-up expenses | -507 | -656 | ' |
Non-operating items from unconsolidated affiliates | -157,338 | -90,020 | -119,013 |
Income (loss) from unconsolidated affiliates | ($114,785) | ($137,058) | ($27,919) |
Investments_in_and_Advances_to5
Investments in and Advances to Unconsolidated Affiliates - Additional Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 1 Months Ended | 3 Months Ended | 1 Months Ended | |||||||||||
Dec. 31, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Mar. 31, 2012 | Sep. 30, 2012 | Dec. 31, 2012 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Oct. 31, 2013 | Oct. 31, 2013 | Mar. 31, 2011 | Oct. 31, 2013 | Oct. 31, 2013 | Oct. 31, 2013 | Oct. 31, 2013 | |
Maximum [Member] | CityCenter Holdings, LLC [Member] | CityCenter Holdings, LLC [Member] | CityCenter Holdings, LLC [Member] | CityCenter Holdings, LLC [Member] | CityCenter Holdings, LLC [Member] | CityCenter Holdings, LLC [Member] | CityCenter Holdings, LLC [Member] | CityCenter Holdings, LLC [Member] | CityCenter Holdings, LLC [Member] | CityCenter Holdings, LLC [Member] | CityCenter Holdings, LLC [Member] | CityCenter Holdings, LLC [Member] | CityCenter Holdings, LLC [Member] | CityCenter Holdings, LLC [Member] | CityCenter Holdings, LLC [Member] | CityCenter Holdings, LLC [Member] | ||||||
Harmon [Member] | Harmon [Member] | Residential Inventory [Member] | Residential Inventory [Member] | Residential Inventory [Member] | Term Loan B Facility [Member] | Senior Secured First Lien Notes [Member] | Senior Secured Credit Facility [Member] | Senior Secured Credit Facility [Member] | Revolving Facility [Member] | Minimum [Member] | Maximum [Member] | |||||||||||
Senior Secured Second Lien PIK Toggle Notes [Member] | Senior Secured Second Lien PIK Toggle Notes [Member] | |||||||||||||||||||||
Schedule of Equity Method Investments [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Credit facility amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,700,000,000 | ' | ' | $1,775,000,000 | $75,000,000 | ' | ' |
Credit facility, maturity date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 16-Oct-20 | ' | ' | ' | 16-Oct-18 | ' | ' |
Percentage of principal amount issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 99.00% | ' | ' | ' | ' | ' | ' |
Interest rate margin (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4.00% | ' | ' | ' | ' | ' | ' |
Interest rate floor (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.00% | ' | ' | ' | ' | ' | ' |
Long-term debt, interest rate (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.63% | ' | ' | ' | 10.75% | 11.50% |
Loss on retirement of long-term debt | 505,000,000 | 59,000,000 | 3,801,000 | 563,292,000 | -717,000 | ' | 70,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 24,000,000 | ' | ' | ' | ' |
Debt restructuring, sponsor notes carrying value | ' | ' | ' | ' | ' | ' | ' | 738,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Real estate impairment charges | ' | ' | 20,354,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 36,000,000 | 53,000,000 | ' | ' | ' | ' | ' | ' | ' |
Percentage of ownership interests | ' | ' | ' | ' | ' | 50.00% | 50.00% | 50.00% | 50.00% | 50.00% | 50.00% | 50.00% | 50.00% | 50.00% | 50.00% | ' | ' | ' | ' | ' | ' | ' |
Real estate impairment charges of unconsolidated affiliates | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 18,000,000 | 18,000,000 | 26,000,000 | ' | ' | ' | ' | ' | ' | ' |
Demolition cost | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 32,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Demolition cost, proportionate share from equity method investee | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $16,000,000 | $16,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investments_in_and_Advances_to6
Investments in and Advances to Unconsolidated Affiliates - Additional Information 1 (Detail) (USD $) | 1 Months Ended | 12 Months Ended | 1 Months Ended | 0 Months Ended | 3 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 1 Months Ended | 1 Months Ended | ||||||||||||
Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jun. 03, 2011 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2013 | Jun. 30, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2013 | Jun. 30, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Nov. 30, 2012 | Dec. 31, 2013 | Nov. 30, 2012 | |
MGM Grand Paradise Limited [Member] | Grand Victoria [Member] | Grand Victoria [Member] | Grand Victoria [Member] | Grand Victoria [Member] | Grand Victoria [Member] | Grand Victoria [Member] | Grand Victoria [Member] | Grand Victoria [Member] | Grand Victoria [Member] | Grand Victoria [Member] | Silver Legacy [Member] | Silver Legacy [Member] | Silver Legacy [Member] | Silver Legacy [Member] | Silver Legacy [Member] | Silver Legacy [Member] | Silver Legacy [Member] | |||||
Level 3 [Member] | Level 3 [Member] | Discounted Cash Flow Analysis [Member] | Discounted Cash Flow Analysis [Member] | Senior Credit Facility [Member] | Senior Credit Facility [Member] | Senior Notes Due March 2012 [Member] | Subordinated Sponsor Notes [Member] | |||||||||||||||
Level 3 [Member] | Level 3 [Member] | |||||||||||||||||||||
Schedule of Equity Method Investments [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term growth rate (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.00% | 2.00% | ' | ' | ' | ' | ' | ' | ' |
Discount rate (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11.00% | 10.50% | ' | ' | ' | ' | ' | ' | ' |
Investment impairment | ' | ' | ' | ' | ' | $37,000,000 | $85,000,000 | $37,000,000 | $85,000,000 | $36,607,000 | $85,009,000 | ' | ' | ' | ' | $22,966,000 | ' | ' | ' | ' | ' | ' |
Estimated fair value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 170,000,000 | 205,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of ownership interests | ' | ' | ' | ' | ' | 50.00% | 50.00% | 50.00% | 50.00% | ' | ' | ' | ' | ' | ' | ' | 50.00% | 50.00% | ' | ' | ' | ' |
Outstanding senior notes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 143,000,000 | ' |
Credit facility amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 70,000,000 | ' | ' |
Investment by each partner as part of reorganization | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,500,000 |
Gain on redeemed outstanding second lien notes | 12,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 24,000,000 | ' | ' | ' |
Distributions from unconsolidated affiliates | ' | $16,928,000 | $21,277,000 | $60,801,000 | $31,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investments_in_and_Advances_to7
Investments in and Advances to Unconsolidated Affiliates - Summarized Balance Sheet Information (Detail) (Unconsolidated Affiliates [Member], USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Unconsolidated Affiliates [Member] | ' | ' |
Schedule of Equity Method Investments [Line Items] | ' | ' |
Current assets | $528,297 | $619,099 |
Property and other long-term assets, net | 8,519,605 | 8,875,020 |
Current liabilities | 519,779 | 501,518 |
Long-term debt and other liabilities | 1,779,797 | 2,668,759 |
Equity | $6,748,326 | $6,323,842 |
Investments_in_and_Advances_to8
Investments in and Advances to Unconsolidated Affiliates - Summarized Income Statement Information (Detail) (Unconsolidated Affiliates [Member], USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Unconsolidated Affiliates [Member] | ' | ' | ' |
Schedule of Equity Method Investments [Line Items] | ' | ' | ' |
Net revenues | $1,584,609 | $1,527,355 | $2,558,631 |
Operating expenses | -1,572,298 | -1,731,263 | -2,472,668 |
Operating income (loss) | 12,311 | -203,908 | 85,963 |
Interest expense | -247,405 | -277,119 | -293,578 |
Other non-operating expense | -151,401 | -5,329 | -25,876 |
Net loss | ($386,495) | ($486,356) | ($233,491) |
Investments_in_and_Advances_to9
Investments in and Advances to Unconsolidated Affiliates - Tabular Disclosure of Differences between Venture-Level Equity and Investment Balances (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Equity Method Investment Difference Between Carrying Amount And Underlying Equity [Abstract] | ' | ' |
Venture-level equity | $3,369,148 | $3,156,631 |
Adjustment to CityCenter equity upon contribution of net assets by MGM Resorts International | -583,946 | -589,338 |
CityCenter capitalized interest | 261,526 | 271,602 |
Completion guarantee | 411,944 | 316,281 |
Advances to CityCenter, net of discount | -53,296 | 268,927 |
Other-than-temporary impairments of CityCenter investment | -1,915,153 | -1,972,633 |
Fair value adjustments upon acquisition of Grand Victoria investment | 267,190 | 267,190 |
Other adjustments | -382,577 | -274,113 |
Investment balance | $1,374,836 | $1,444,547 |
Recovered_Sheet1
Investments in and Advances to Unconsolidated Affiliates - Tabular Disclosure of Differences between Venture-Level Equity and Investment Balances (Parenthetical) (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Schedule of Equity Method Investments [Line Items] | ' | ' |
Other-than-temporary impairments of CityCenter investment | ($1,915,153) | ($1,972,633) |
Land [Member] | CityCenter Holdings, LLC [Member] | ' | ' |
Schedule of Equity Method Investments [Line Items] | ' | ' |
Other-than-temporary impairments of CityCenter investment | $426,000 | ' |
Goodwill_and_Other_Intangible_2
Goodwill and Other Intangible Assets - Schedule of Goodwill and Other Intangible Assets (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Goodwill And Intangible Assets [Line Items] | ' | ' |
Goodwill | $2,897,442 | $2,902,847 |
Total indefinite-lived intangible assets | 330,221 | 332,171 |
Total finite-lived intangible assets | 4,181,640 | 4,405,662 |
Total other intangible assets, net | 4,511,861 | 4,737,833 |
MGM China [Member] | ' | ' |
Goodwill And Intangible Assets [Line Items] | ' | ' |
Goodwill | 2,826,467 | 2,831,872 |
Mirage Resorts acquisition (2000) [Member] | ' | ' |
Goodwill And Intangible Assets [Line Items] | ' | ' |
Goodwill | 30,451 | 30,451 |
Mandalay Resort Group acquisition (2005) [Member] | ' | ' |
Goodwill And Intangible Assets [Line Items] | ' | ' |
Goodwill | 40,524 | 40,524 |
Detroit development rights [Member] | ' | ' |
Goodwill And Intangible Assets [Line Items] | ' | ' |
Total indefinite-lived intangible assets | 98,098 | 98,098 |
Trademarks, license rights and other [Member] | ' | ' |
Goodwill And Intangible Assets [Line Items] | ' | ' |
Total indefinite-lived intangible assets | 232,123 | 234,073 |
Trademarks, license rights and other [Member] | Mandalay Resort Group acquisition (2005) [Member] | ' | ' |
Goodwill And Intangible Assets [Line Items] | ' | ' |
Total indefinite-lived intangible assets | 213,000 | ' |
MGM China gaming subconcession [Member] | ' | ' |
Goodwill And Intangible Assets [Line Items] | ' | ' |
Finite-lived intangible assets, gross | 4,513,631 | 4,515,991 |
Accumulated amortization | -526,152 | -358,873 |
Total finite-lived intangible assets | 3,987,479 | 4,157,118 |
MGM Macau land concession [Member] | ' | ' |
Goodwill And Intangible Assets [Line Items] | ' | ' |
Finite-lived intangible assets, gross | 84,727 | 84,772 |
Accumulated amortization | -11,003 | -6,737 |
Total finite-lived intangible assets | 73,724 | 78,035 |
MGM China customer lists [Member] | ' | ' |
Goodwill And Intangible Assets [Line Items] | ' | ' |
Finite-lived intangible assets, gross | 128,961 | 129,028 |
Accumulated amortization | -101,240 | -75,550 |
Total finite-lived intangible assets | 27,721 | 53,478 |
MGM China gaming promoter relationships [Member] | ' | ' |
Goodwill And Intangible Assets [Line Items] | ' | ' |
Finite-lived intangible assets, gross | 180,545 | 180,640 |
Accumulated amortization | -116,335 | -71,223 |
Total finite-lived intangible assets | 64,210 | 109,417 |
Maryland license and other intangible assets [Member] | ' | ' |
Goodwill And Intangible Assets [Line Items] | ' | ' |
Finite-lived intangible assets, gross | 51,827 | 30,226 |
Accumulated amortization | -23,321 | -22,612 |
Total finite-lived intangible assets | $28,506 | $7,614 |
Goodwill_and_Other_Intangible_3
Goodwill and Other Intangible Assets - Additional Information (Detail) (USD $) | 12 Months Ended | 1 Months Ended | 12 Months Ended | 0 Months Ended | ||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jan. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Apr. 20, 2011 | |
MGM China gaming subconcession [Member] | MGM China customer lists [Member] | MGM China gaming promoter relationships [Member] | Trademarks, license rights and other [Member] | Trademarks, license rights and other [Member] | Mandalay Resort Group acquisition (2005) [Member] | MGM Grand Paradise SA [Member] | ||||
MGM China [Member] | MGM China [Member] | Trademarks, license rights and other [Member] | MGM China gaming subconcession [Member] | |||||||
Goodwill [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Indefinite-lived intangible assets | $330,221,000 | $332,171,000 | ' | ' | ' | ' | $232,123,000 | $234,073,000 | $213,000,000 | ' |
Period for the right to operate casino games of chance and other casino games | ' | ' | ' | ' | ' | ' | ' | ' | ' | '15 years |
Estimated remaining useful life of gaming subconcession | ' | ' | ' | '25 years | ' | ' | ' | ' | ' | ' |
Estimated useful life of intangible assets | ' | ' | ' | ' | '5 years | '4 years | ' | ' | ' | ' |
Amortization expense related to intangible assets | $243,000,000 | $321,000,000 | $181,000,000 | ' | ' | ' | ' | ' | ' | ' |
Goodwill_and_Other_Intangible_4
Goodwill and Other Intangible Assets - Schedule of Estimated Future Amortization (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ' |
2014 | $231,545 | ' |
2015 | 199,280 | ' |
2016 | 174,697 | ' |
2017 | 172,397 | ' |
2018 | 172,397 | ' |
Thereafter | 3,231,324 | ' |
Total finite-lived intangible assets | $4,181,640 | $4,405,662 |
Other_Accrued_Liabilities_Sche
Other Accrued Liabilities - Schedule of Other Accrued Liabilities (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Other Liabilities Disclosure [Abstract] | ' | ' |
Payroll and related | $394,709 | $368,702 |
Advance deposits and ticket sales | 104,504 | 102,428 |
Casino outstanding chip liability | 409,917 | 260,957 |
Casino front money deposits | 125,180 | 131,187 |
MGM China gaming promoter commissions | 118,122 | 114,631 |
Other gaming related accruals | 137,181 | 141,195 |
Taxes, other than income taxes | 236,991 | 223,308 |
Completion guarantee liability | 97,223 | 27,867 |
Other | 146,974 | 147,690 |
Other accrued liabilities | $1,770,801 | $1,517,965 |
LongTerm_Debt_Schedule_of_Long
Long-Term Debt - Schedule of Long-Term Debt (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Debt Instrument [Line Items] | ' | ' |
Long-term debt | $13,447,230 | $13,589,283 |
Senior credit facility term loans, net [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term debt | 2,765,041 | 2,791,284 |
MGM Grand Paradise credit facility [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term debt | 553,242 | 553,531 |
6.75% senior notes, due 2013 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term debt | ' | 462,226 |
7.625% senior subordinated debentures, due 2013, net [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term debt | ' | 150,539 |
5.875% senior notes, due 2014, net [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term debt | 508,848 | 508,540 |
6.625% senior notes, due 2015, net [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term debt | 876,022 | 876,634 |
4.25% convertible senior notes, due 2015, net [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term debt | 1,456,153 | 1,460,780 |
6.875% senior notes, due 2016 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term debt | 242,900 | 242,900 |
7.5% senior notes, due 2016 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term debt | 732,749 | 732,749 |
10% senior notes, due 2016, net [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term debt | 496,987 | 496,110 |
7.625% senior notes, due 2017 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term debt | 743,000 | 743,000 |
11.375% senior notes, due 2018, net [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term debt | 467,451 | 466,117 |
8.625% senior notes, due 2019 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term debt | 850,000 | 850,000 |
Represents senior notes with an interest rate of 5.25% due in 2020 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term debt | 500,000 | ' |
6.75% senior notes, due 2020 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term debt | 1,000,000 | 1,000,000 |
6.625% senior notes, due 2021 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term debt | 1,250,000 | 1,250,000 |
7.75% senior notes due 2022 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term debt | 1,000,000 | 1,000,000 |
7% debentures, due 2036, net [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term debt | 572 | 572 |
6.7% debentures, due 2096 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term debt | 4,265 | 4,265 |
Other notes [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term debt | ' | $36 |
LongTerm_Debt_Schedule_of_Long1
Long-Term Debt - Schedule of Long-Term Debt (Parenthetical) (Detail) (USD $) | 1 Months Ended | 12 Months Ended | ||
In Millions, unless otherwise specified | Jun. 30, 2011 | Apr. 30, 2010 | Dec. 31, 2013 | Dec. 31, 2012 |
Senior credit facility term loans, net [Member] | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' |
Long-term debt, principal amount | ' | ' | $2,772 | $2,800 |
6.75% senior notes, due 2013 [Member] | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' |
Long-term debt, principal amount | ' | ' | 462.2 | 462.2 |
Long-term debt, interest rate (as a percent) | ' | ' | 6.75% | 6.75% |
Long-term debt, maturity year | ' | ' | '2013 | '2013 |
7.625% senior subordinated debentures, due 2013, net [Member] | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' |
Long-term debt, principal amount | ' | ' | 150 | 150 |
Long-term debt, interest rate (as a percent) | ' | ' | 7.63% | 7.63% |
Long-term debt, maturity year | ' | ' | '2013 | '2013 |
5.875% senior notes, due 2014, net [Member] | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' |
Long-term debt, principal amount | ' | ' | 508.9 | 508.9 |
Long-term debt, interest rate (as a percent) | ' | ' | 5.88% | 5.88% |
Long-term debt, maturity year | ' | ' | '2014 | '2014 |
6.625% senior notes, due 2015, net [Member] | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' |
Long-term debt, principal amount | ' | ' | 875 | 875 |
Long-term debt, interest rate (as a percent) | ' | ' | 6.63% | 6.63% |
Long-term debt, maturity year | ' | ' | '2015 | '2015 |
4.25% convertible senior notes, due 2015, net [Member] | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' |
Long-term debt, principal amount | ' | ' | 1,450 | 1,450 |
Long-term debt, interest rate (as a percent) | 4.25% | 4.25% | 4.25% | 4.25% |
Long-term debt, maturity year | '2015 | '2015 | '2015 | '2015 |
6.875% senior notes, due 2016 [Member] | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' |
Long-term debt, principal amount | ' | ' | 242.9 | 242.9 |
Long-term debt, interest rate (as a percent) | ' | ' | 6.88% | 6.88% |
Long-term debt, maturity year | ' | ' | '2016 | '2016 |
7.5% senior notes, due 2016 [Member] | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' |
Long-term debt, principal amount | ' | ' | 732.7 | 732.7 |
Long-term debt, interest rate (as a percent) | ' | ' | 7.50% | 7.50% |
Long-term debt, maturity year | ' | ' | '2016 | '2016 |
10% senior notes, due 2016, net [Member] | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' |
Long-term debt, principal amount | ' | ' | 500 | 500 |
Long-term debt, interest rate (as a percent) | ' | ' | 10.00% | 10.00% |
Long-term debt, maturity year | ' | ' | '2016 | '2016 |
7.625% senior notes, due 2017 [Member] | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' |
Long-term debt, principal amount | ' | ' | 743 | 743 |
Long-term debt, interest rate (as a percent) | ' | ' | 7.63% | 7.63% |
Long-term debt, maturity year | ' | ' | '2017 | '2017 |
11.375% senior notes, due 2018, net [Member] | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' |
Long-term debt, principal amount | ' | ' | 475 | 475 |
Long-term debt, interest rate (as a percent) | ' | ' | 11.38% | 11.38% |
Long-term debt, maturity year | ' | ' | '2018 | '2018 |
8.625% senior notes, due 2019 [Member] | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' |
Long-term debt, principal amount | ' | ' | 850 | 850 |
Long-term debt, interest rate (as a percent) | ' | ' | 8.63% | 8.63% |
Long-term debt, maturity year | ' | ' | '2019 | '2019 |
Represents senior notes with an interest rate of 5.25% due in 2020 [Member] | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' |
Long-term debt, principal amount | ' | ' | 500 | 500 |
Long-term debt, interest rate (as a percent) | ' | ' | 5.25% | 5.25% |
Long-term debt, maturity year | ' | ' | '2020 | '2020 |
6.75% senior notes, due 2020 [Member] | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' |
Long-term debt, principal amount | ' | ' | 1,000 | 1,000 |
Long-term debt, interest rate (as a percent) | ' | ' | 6.75% | 6.75% |
Long-term debt, maturity year | ' | ' | '2020 | '2020 |
6.625% senior notes, due 2021 [Member] | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' |
Long-term debt, principal amount | ' | ' | 1,250 | 1,250 |
Long-term debt, interest rate (as a percent) | ' | ' | 6.63% | 6.63% |
Long-term debt, maturity year | ' | ' | '2021 | '2021 |
7.75% senior notes due 2022 [Member] | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' |
Long-term debt, principal amount | ' | ' | 1,000 | 1,000 |
Long-term debt, interest rate (as a percent) | ' | ' | 7.75% | 7.75% |
Long-term debt, maturity year | ' | ' | '2022 | '2022 |
7% debentures, due 2036, net [Member] | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' |
Long-term debt, principal amount | ' | ' | 0.6 | 0.6 |
Long-term debt, interest rate (as a percent) | ' | ' | 7.00% | 7.00% |
Long-term debt, maturity year | ' | ' | '2036 | '2036 |
6.7% debentures, due 2096 [Member] | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' |
Long-term debt, principal amount | ' | ' | $4.30 | $4.30 |
Long-term debt, interest rate (as a percent) | ' | ' | 6.70% | 6.70% |
Long-term debt, maturity year | ' | ' | '2096 | '2096 |
LongTerm_Debt_Schedule_of_Inte
Long-Term Debt - Schedule of Interest Expense, Net (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Debt Disclosure [Abstract] | ' | ' | ' |
Total interest incurred | $862,417 | $1,117,327 | $1,086,865 |
Interest capitalized | -5,070 | -969 | -33 |
Interest expense, net | $857,347 | $1,116,358 | $1,086,832 |
LongTerm_Debt_Additional_Infor
Long-Term Debt - Additional Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||
Dec. 31, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | 31-May-13 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Jun. 30, 2011 | Apr. 30, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | |
Debt Covenant Terms December Thirty One Two Thousand And Fourteen [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Senior credit facility [Member] | Senior credit facility [Member] | Senior credit facility [Member] | Senior credit facility [Member] | Senior credit facility [Member] | Senior credit facility [Member] | MGM China credit facility, Term loans [Member] | MGM China credit facility, revolving credit facility [Member] | MGM China credit facility, revolving credit facility [Member] | MGM China credit facility, revolving credit facility [Member] | MGM China credit facility, revolving credit facility [Member] | Amended and restated MGM China credit facility [Member] | Amended and restated MGM China credit facility [Member] | Amended and restated MGM China credit facility [Member] | Amended and restated MGM China credit facility [Member] | Amended and restated MGM China credit facility [Member] | Amended and restated MGM China credit facility [Member] | Senior credit facility revolving loans [Member] | Senior credit facility revolving loans [Member] | Senior credit facility term loan B [Member] | Senior credit facility term loan B [Member] | Senior credit facility term loan B [Member] | Senior credit facility term loan A [Member] | Senior credit facility term loan A [Member] | 6.75% senior notes, due 2013 [Member] | 6.75% senior notes, due 2013 [Member] | 7.625% senior subordinated debentures, due 2013, net [Member] | 7.625% senior subordinated debentures, due 2013, net [Member] | 6.75% Senior Notes [Member] | 13% senior secured notes, due 2013, net [Member] | 10.375% senior secured notes, due 2014, net [Member] | 11.125% senior secured notes, due 2017, net [Member] | 9% senior secured notes, due 2020 [Member] | 4.25% convertible senior notes, due 2015, net [Member] | 4.25% convertible senior notes, due 2015, net [Member] | 4.25% convertible senior notes, due 2015, net [Member] | 4.25% convertible senior notes, due 2015, net [Member] | 4.25% convertible senior notes, due 2015, net [Member] | Senior credit facility term loans, net [Member] | 5.25% senior notes, due 2020 [Member] | 8.625% senior notes, due 2019 [Member] | 8.625% senior notes, due 2019 [Member] | 7.75% senior notes due 2022 [Member] | 7.75% senior notes due 2022 [Member] | 6.75% senior notes, due 2020 [Member] | 6.75% senior notes, due 2020 [Member] | 6.625% senior notes, due 2021 [Member] | 6.625% senior notes, due 2021 [Member] | Senior Secured Notes [Member] | Senior Secured Notes [Member] | ||||||
Debt Covenant Terms March Thirty One Two Thousand And Fourteen [Member] | Debt Covenant Terms June Thirty Two Thousand And Fourteen [Member] | Debt Covenant Terms September Thirty Two Thousand And Fourteen [Member] | Collateralized land and assets of MGM Grand Detroit [Member] | Maximum [Member] | Maximum [Member] | Minimum [Member] | MGM China [Member] | MGM China [Member] | HIBOR [Member] | HIBOR [Member] | HIBOR [Member] | Maximum [Member] | Maximum [Member] | Minimum [Member] | HIBOR [Member] | HIBOR [Member] | HIBOR [Member] | LIBOR [Member] | LIBOR [Member] | LIBOR [Member] | Tender offers [Member] | Tender offers [Member] | |||||||||||||||||||||||||||||||||||||
MGM Grand Detroit, LLC [Member] | Collateralized land and assets of MGM Grand Las Vegas, Bellagio and The Mirage [Member] | Debt Covenant Terms 2013 [Member] | MGM China [Member] | Maximum [Member] | Minimum [Member] | Debt Covenant Terms Prior To First Anniversary Of MGM Cotai Opening [Member] | Debt Covenant Terms Subsequent To First Anniversary Of MGM Cotai Opening [Member] | MGM China [Member] | MGM China [Member] | Maximum [Member] | Minimum [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
MGM China [Member] | MGM China [Member] | MGM China [Member] | MGM China [Member] | MGM China [Member] | MGM China [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Credit facility amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $550,000,000 | ' | $1,450,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | $1,200,000,000 | ' | ' | $1,730,000,000 | ' | $1,040,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Variable interest rate base | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'HIBOR | ' | ' | ' | ' | ' | 'HIBOR | ' | ' | ' | 'LIBOR | ' | ' | 'LIBOR | ' | 'LIBOR | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate margin (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.75% | 2.50% | 1.75% | ' | ' | ' | 1.75% | 2.50% | 1.75% | ' | 2.75% | ' | ' | 2.50% | ' | 2.75% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate floor (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
(Gain) loss on retirement of long-term debt | -505,000,000 | -59,000,000 | -3,801,000 | -563,292,000 | 717,000 | ' | ' | ' | ' | ' | 107,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 457,000,000 |
Long-term debt, maturity date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30-Oct-17 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20-Dec-17 | ' | ' | 20-Dec-19 | ' | 20-Dec-17 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Quarterly amortization payments of original principal balance (as percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.25% | ' | 0.25% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repayments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 462,000,000 | ' | 150,000,000 | ' | 535,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 28,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Available borrowing capacity | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,200,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate at the end of the period (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.50% | ' | 2.92% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Secured obligations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 450,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt instrument, collateral amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,350,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Trailing annual earnings before interest, taxes, depreciation and amortization (EBITDA) | ' | ' | ' | ' | ' | 1,200,000,000 | 1,100,000,000 | 1,100,000,000 | 1,200,000,000 | 1,310,000,000 | ' | ' | ' | ' | 1,050,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Annual capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 500,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated leverage ratio | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4.5 | 4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated interest coverage ratio | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term debt interest rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6.75% | 6.75% | 7.63% | 7.63% | 6.75% | 13.00% | 10.38% | 11.13% | 9.00% | 4.25% | 4.25% | 4.25% | 4.25% | ' | ' | 5.25% | 8.63% | 8.63% | 7.75% | 7.75% | 6.75% | 6.75% | 6.63% | 6.63% | ' | ' |
Long-term debt, maturity year | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2013 | '2013 | '2013 | '2013 | '2012 | '2013 | '2014 | '2017 | '2020 | '2015 | '2015 | '2015 | '2015 | ' | ' | '2020 | '2019 | '2019 | '2022 | '2022 | '2020 | '2020 | '2021 | '2021 | ' | ' |
Borrowings | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 300,000,000 | 1,150,000,000 | ' | ' | ' | ' | 500,000,000 | ' | 850,000,000 | ' | 1,000,000,000 | ' | 1,000,000,000 | ' | 1,250,000,000 | ' | ' |
Proceeds from issuance of debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 494,000,000 | ' | 836,000,000 | ' | 986,000,000 | ' | 986,000,000 | ' | 1,230,000,000 | ' | ' |
Premiums paid to redeem or discharge debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 379,000,000 |
Write-off of previously recorded discounts and debt issuance cost | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 75,000,000 | ' |
Other cost | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,000,000 | ' |
Proceeds from convertible debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 311,000,000 | 1,120,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Conversion ratio, number of shares per $1,000 principal amount, numerator | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 53.83 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Conversion ratio, principal amount, denominator | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Initial conversion price of shares (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $18.58 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of premium on closing trading price of the company's common stock used to determine initial conversion rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 27.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cap price of capped call transactions (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $21.86 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Capped call transactions | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 81,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Capped call transactions, associated tax benefits | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 29,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of purchase price to principal amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 103.81% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Trading price as a percentage of principal | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 105.87% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Change in fair value of the derivative | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term debt, fair value | $14,300,000,000 | ' | $14,900,000,000 | $14,300,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
LongTerm_Debt_Schedule_of_Matu
Long-Term Debt - Schedule of Maturities of Long-Term Debt (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Debt Disclosure [Abstract] | ' | ' |
2014 | $536,900 | ' |
2015 | 2,353,000 | ' |
2016 | 1,641,959 | ' |
2017 | 2,183,432 | ' |
2018 | 492,500 | ' |
Thereafter | 6,249,817 | ' |
Long-term debt, carrying amount | 13,457,608 | ' |
Debt premiums and discounts, net | -10,378 | ' |
Long-term debt | $13,447,230 | $13,589,283 |
Income_Taxes_Schedule_of_Conso
Income Taxes - Schedule of Consolidated Income (Loss) Before Taxes for Domestic and Foreign Operations (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Domestic operations | ($419,316) | ($2,048,868) | ($902,613) |
Foreign operations | 507,081 | 314,655 | 3,734,244 |
Income (loss) before income taxes | $87,765 | ($1,734,213) | $2,831,631 |
Income_Taxes_Schedule_of_Incom
Income Taxes - Schedule of Income Tax Provision (Benefit) Attributable to Income (Loss) Before Income Taxes (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Federal | ' | ' | ' |
Current | $3,532 | $1,636 | ($1,237) |
Deferred (excluding separate components) | 455,610 | 602,668 | 57,573 |
Deferred-operating loss carryforward | -305,760 | 89,954 | 260,167 |
Deferred-valuation allowance | -134,027 | -608,015 | ' |
Other noncurrent | 14,523 | -1,587 | -2,812 |
Benefit for federal income taxes | 33,878 | 84,656 | 313,691 |
State | ' | ' | ' |
Current | -1,812 | -3,466 | -4,482 |
Deferred (excluding separate components) | 1,753 | 24,104 | 9,472 |
Deferred-operating loss carryforward | 393 | 9,221 | -3,357 |
Deferred-valuation allowance | -4,374 | -2,579 | -7,787 |
Deferred-enacted changes in tax laws or rates | ' | ' | -12,743 |
Other noncurrent | 880 | -5,493 | -1,320 |
State and Local Income Tax Expense (Benefit), Continuing Operations | -3,160 | 21,787 | -20,217 |
Foreign | ' | ' | ' |
Current | -2,214 | -3,217 | -3,800 |
Deferred (excluding separate components) | -70,440 | 12,471 | 113,639 |
Deferred-operating loss carryforward | 1,312 | -782 | ' |
Deferred-valuation allowance | 9,361 | 2,386 | ' |
Benefit (provision) for foreign income taxes | -61,981 | 10,858 | 109,839 |
Income tax provision (benefit) | ($31,263) | $117,301 | $403,313 |
Income_Taxes_Schedule_of_Recon
Income Taxes - Schedule of Reconciliation of the Federal Income Tax Statutory Rate and the Company's Effective Tax Rate (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Federal income tax statutory rate | 35.00% | 35.00% | 35.00% |
Foreign tax credit, net of valuation allowance | -523.30% | 19.80% | ' |
Repatriation of foreign earnings | 523.30% | -19.20% | ' |
Federal valuation allowance | 152.70% | -35.10% | ' |
State income tax, net of federal benefit and valuation allowance | 2.30% | 0.80% | 0.50% |
Settlements with taxing authorities | -16.60% | ' | ' |
Macau deferred tax liability re-measurement | 68.10% | ' | ' |
Foreign jurisdiction income/losses taxed at other than 35% | -199.70% | 7.00% | -2.10% |
Foreign jurisdiction tax rate change | ' | ' | -4.60% |
MGM China acquisition gain | ' | ' | -43.20% |
Tax credits | -9.30% | 0.50% | -0.20% |
Permanent and other items | $0.03 | ($0.02) | $0.00 |
Provision for income taxes (as a percent) | 35.60% | 6.80% | -14.20% |
Income_Taxes_Schedule_of_Major
Income Taxes - Schedule of Major Tax-Effected Components of the Company's Net Deferred Tax Liability (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Deferred tax assets | ' | ' |
Deferred tax assets, net | $949,819 | $1,129,546 |
Deferred tax liabilities | ' | ' |
Total deferred tax liability | -3,299,244 | -3,424,004 |
Net deferred tax liability | -2,349,425 | -2,294,458 |
Federal and state [Member] | ' | ' |
Deferred tax assets | ' | ' |
Senior secured notes retirement | 647 | 233,312 |
Bad debt reserve | 37,327 | 38,048 |
Deferred compensation | 3,680 | 3,080 |
Net operating loss carryforward | 304,077 | 601,226 |
Accruals, reserves and other | 148,438 | 88,097 |
Investments in unconsolidated affiliates | 282,258 | 338,945 |
Stock-based compensation | 31,185 | 36,728 |
Tax credits | 1,796,599 | 820,299 |
Deferred tax assets ,gross | 2,604,211 | 2,159,735 |
Less: Valuation allowance | -1,665,846 | -1,032,423 |
Deferred tax assets, net | 938,365 | 1,127,312 |
Deferred tax liabilities | ' | ' |
Property and equipment | -2,488,287 | -2,505,602 |
Long-term debt | -360,666 | -550,811 |
Cost method investments | -23,944 | -8,323 |
Intangibles | -105,231 | -103,094 |
Total deferred tax liability | -2,978,128 | -3,167,830 |
Foreign [Member] | ' | ' |
Deferred tax assets | ' | ' |
Bad debt reserve | 333 | 1,477 |
Net operating loss carryforward | 55,834 | 50,075 |
Accruals, reserves and other | 154 | 1,439 |
Property and equipment | 11,204 | 10,218 |
Deferred tax assets ,gross | 67,525 | 63,209 |
Less: Valuation allowance | -56,071 | -60,975 |
Deferred tax assets, net | 11,454 | 2,234 |
Deferred tax liabilities | ' | ' |
Intangibles | -321,116 | -256,174 |
Total deferred tax liability | ($321,116) | ($256,174) |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) (USD $) | 12 Months Ended | 0 Months Ended | 12 Months Ended | ||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Sep. 22, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | |
MGM Grand Paradise SA [Member] | MGM China [Member] | MGM China [Member] | MGM China [Member] | Macau tax law [Member] | Macau tax law [Member] | Macau tax law [Member] | Macau tax law [Member] | Macau tax law [Member] | Foreign [Member] | Foreign [Member] | Foreign [Member] | Foreign [Member] | Foreign [Member] | ||||
MGM Grand Paradise SA [Member] | MGM Grand Paradise SA [Member] | MGM Grand Paradise SA [Member] | MGM Grand Paradise SA [Member] | MGM China [Member] | MGM China [Member] | 2015 [Member] | 2022 [Member] | 2023 [Member] | |||||||||
Operating Loss Carryforwards [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Macau's complementary tax rate on distributions of gaming profits(as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | 12.00% | ' | ' | ' | ' | ' | ' | ' | ' |
Period of exempted complementary tax rate granted by Macau government | ' | ' | ' | ' | ' | ' | ' | 'Five-year | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reduction in net income attributable to MGM Resorts International | ' | ' | ' | ' | ' | ' | ' | ' | $43,000,000 | $34,000,000 | ' | ' | ' | ' | ' | ' | ' |
Per share reduction in net income attributable to MGM Resorts International | ' | ' | ' | ' | ' | ' | ' | ' | $0.09 | $0.07 | ' | ' | ' | ' | ' | ' | ' |
Additional period of exempted complementary tax rate granted by Macau government | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | ' | ' | ' | ' | ' | ' | ' | ' |
Increase in provision for income taxes | ' | ' | ' | 65,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Complementary tax | ' | ' | ' | ' | ' | ' | 459,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cumulative annual payments for the covered period | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,000,000 | ' | ' | ' | ' | ' | ' | ' |
Increase to benefit for income taxes | 2,214,000 | 3,217,000 | 3,800,000 | ' | ' | ' | ' | ' | ' | ' | 19,000,000 | ' | ' | ' | ' | ' | ' |
Extension period of annual fee arrangement | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | ' | ' | ' | ' | ' | ' | ' | ' |
Annual payments required under the extended annual fee arrangement | ' | ' | ' | ' | ' | ' | ' | ' | 2,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Annual payments accrued for extended annual fee arrangement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,000,000 | 2,000,000 | ' | ' | ' | ' | ' |
Repatriation of foreign earnings and profits | ' | ' | ' | ' | 312,000,000 | 263,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unrepatriated foreign earnings and profits to be repatriated | 282,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred tax liability of repatriate | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Foreign tax credit carryovers amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $968,000,000 | $785,000,000 | $2,000,000 | $785,000,000 | $968,000,000 |
Income_Taxes_Additional_Inform1
Income Taxes - Additional Information1 (Detail) (USD $) | 1 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2010 | |
State [Member] | State [Member] | State [Member] | State [Member] | State [Member] | State [Member] | State [Member] | U.S. federal [Member] | U.S. federal [Member] | U.S. federal [Member] | U.S. federal [Member] | Macau tax law [Member] | IRS [Member] | ||||||
Michigan [Member] | Michigan [Member] | Illinois [Member] | Illinois [Member] | Illinois [Member] | New Jersey [Member] | Alternative minimum tax [Member] | General business [Member] | Two Thousand And Fourteen [Member] | ||||||||||
Minimum [Member] | Maximum [Member] | |||||||||||||||||
Operating Loss Carryforwards [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net operating loss carryforwards | ' | ' | ' | ' | ' | ' | ' | ' | $80,000,000 | ' | ' | $231,000,000 | $808,000,000 | ' | ' | ' | ' | ' |
Federal income tax net operating loss carryforward expiring year | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2031 | ' | ' | ' | ' | ' |
Estimated alternative minimum tax credit carryforward | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 24,000,000 | 17,000,000 | ' | ' | ' |
General business tax credit carryforward expiring year | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2029 | ' | ' | ' |
Charitable contribution carryforward will expire in 2014 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12,000,000 | ' | ' | 3,000,000 | ' | ' |
Charitable contribution carryforward expiring year | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2014 | ' | ' | ' | ' | ' |
Ownership change threshold set forth in Internal Revenue Code section 382 | ' | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred tax assets after federal tax effect and before valuation allowance | ' | ' | ' | ' | ' | ' | ' | ' | 4,000,000 | ' | ' | 14,000,000 | ' | ' | ' | ' | ' | ' |
Net operating loss carryforwards expire | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2021 | '2025 | ' | ' | ' | ' | ' | ' | ' |
Net operating loss carryforwards expiration period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2014 through 2033 | ' | ' | ' | ' | ' | ' |
Tax rate | ' | ' | ' | ' | ' | ' | 6.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net operating loss to be carried back to prior tax years | ' | ' | ' | ' | ' | ' | ' | 198,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net operating loss carryforward period | ' | ' | ' | ' | ' | ' | '10 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase in deferred tax liability due to change in tax rate | ' | ' | ' | ' | ' | ' | ' | 8,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred tax assets, valuation allowance | ' | ' | ' | ' | ' | 16,000,000 | ' | ' | ' | ' | ' | ' | 1,650,000,000 | ' | ' | ' | ' | ' |
Tax credit carryforward, valuation allowance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 56,000,000 | ' |
Tax benefit threshold limit | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Uncertain tax positions, current | 16,000,000 | 16,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Uncertain tax positions, long-term | 87,000,000 | 87,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unrecognized tax benefits, if recognized, would affect the effective tax rate | 32,000,000 | 32,000,000 | 39,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
unrecognized tax benefits related to permanent differences | ' | 6,000,000 | 6,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest related to unrecognized tax benefits accrued | 17,000,000 | 17,000,000 | 29,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest related to unrecognized tax benefits | ' | 12,000,000 | 3,000,000 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accrued penalties | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Tax paid relating to federal income tax returns for 2003 and 2004 tax years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12,000,000 |
Interest paid relating to federal income tax returns for the 2003 and 2004 tax years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,000,000 |
Maximum period for settlement of appeal | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '12 months |
Income tax refund | ' | ' | ' | ' | 2,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deposited $30 million with the IRS to cover the expected cash taxes and interest | ' | 30,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reasonably possible, decrease in liability for uncertain tax positions, high end of range | $82,000,000 | $82,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income_Taxes_Schedule_of_Recon1
Income Taxes - Schedule of Reconciliation of the Beginning and Ending Amounts of Gross Unrecognized Tax Benefits (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Gross unrecognized tax benefits at January 1 | $153,184 | $145,799 | $134,417 |
Gross increases - Prior period tax positions | 6,082 | 6,903 | 9,360 |
Gross decreases - Prior period tax positions | -35,508 | -12,639 | -13,772 |
Gross increases - Current period tax positions | 4,064 | 13,121 | 15,794 |
Settlements with taxing authorities | -21,576 | ' | ' |
Gross unrecognized tax benefits at December 31 | $106,246 | $153,184 | $145,799 |
Commitments_and_Contingencies_1
Commitments and Contingencies - Schedule of Future Minimum Lease Payments Required to be Made under Non-Cancellable Operating Leases and Capital Leases (Detail) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Operating Leases [Member] | ' |
Future Minimum Lease Payments Under Noncancellable Operating Leases [Line Items] | ' |
2014 | $42,951 |
2015 | 42,164 |
2016 | 41,387 |
2017 | 16,322 |
2018 | 17,739 |
Thereafter | 1,095,046 |
Total minimum lease payments | 1,255,609 |
Capital Leases [Member] | ' |
Future Minimum Lease Payments Under Noncancellable Operating Leases [Line Items] | ' |
2014 | 965 |
2015 | 878 |
2016 | 234 |
2017 | ' |
2018 | ' |
Thereafter | ' |
Total minimum lease payments | 2,077 |
Less: Amounts representing interest | -99 |
Total obligations under capital leases | 1,978 |
Less: Amounts due within one year | -898 |
Amounts due after one year | $1,080 |
Commitments_and_Contingencies_2
Commitments and Contingencies - Additional Information (Detail) (USD $) | 12 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 1 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | |||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Jan. 09, 2013 | Dec. 31, 2013 | Oct. 18, 2012 | Dec. 31, 2013 | Jan. 31, 2014 | Apr. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Aug. 31, 2013 | Apr. 30, 2010 | Mar. 31, 2010 | Feb. 28, 2014 | Dec. 31, 2013 | Oct. 01, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | |
Senior credit facility [Member] | Senior credit facility [Member] | Cotai Land Concession Contract [Member] | Cotai Land Concession Contract [Member] | Cotai Land Concession Contract [Member] | Cotai Land Concession Contract [Member] | Cotai Land Concession Contract [Member] | Cotai Land Concession Contract [Member] | Maryland [Member] | Completion guarantee [Member] | Guarantees [Member] | CityCenter Holdings, LLC [Member] | CityCenter Holdings, LLC [Member] | CityCenter Holdings, LLC [Member] | CityCenter Holdings, LLC [Member] | CityCenter Holdings, LLC [Member] | CityCenter Holdings, LLC [Member] | CityCenter Holdings, LLC [Member] | CityCenter Holdings, LLC [Member] | CityCenter Holdings, LLC [Member] | ||||
Letters of credit [Member] | MGM Grand Paradise SA [Member] | MGM Grand Paradise SA [Member] | MGM Grand Paradise SA [Member] | MGM China [Member] | Subsequent Event [Member] | acre | MGM Resorts International [Member] | MGM China [Member] | Perini Litigation [Member] | Perini Litigation [Member] | Perini Litigation [Member] | Perini Litigation [Member] | Perini Litigation [Member] | Pending Litigation [Member] | Completion guarantee [Member] | Completion guarantee [Member] | Completion guarantee [Member] | ||||||
Payments | acre | MGM China [Member] | Amended and restated MGM China credit facility [Member] | Perini construction agreement [Member] | Perini construction agreement [Member] | Perini construction agreement [Member] | Perini construction agreement [Member] | Perini construction agreement [Member] | MGM Resorts International [Member] | Perini construction agreement [Member] | |||||||||||||
Payments | Subsequent Event [Member] | Subcontractor | MGM Resorts International [Member] | ||||||||||||||||||||
Loss Contingencies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Rental expense for operating leases | $41,000,000 | $33,000,000 | $30,000,000 | ' | ' | $7,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Land lease agreement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 23 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Area of development site (in acres) | ' | ' | ' | ' | ' | ' | ' | ' | 17.8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Initial term of contract | ' | ' | ' | ' | ' | ' | '25 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payable for land concession contract | ' | ' | ' | ' | ' | ' | 161,000,000 | ' | ' | ' | 88,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Remaining number of semi-annual payments | ' | ' | ' | ' | ' | ' | 8 | ' | ' | ' | 6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Contract premium, recorded within other long-term assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | 71,000,000 | 15,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Concession contract rent paid per year during development | ' | ' | ' | ' | ' | ' | ' | 269,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Concession contract rent paid per year after development | ' | ' | ' | ' | ' | ' | ' | 681,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Annual rent review period | ' | ' | ' | ' | ' | ' | ' | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Damages sought | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 167,000,000 | 491,000,000 | 490,000,000 | 174,000,000 | ' | ' | ' | ' |
Number of claims resolved | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 219 | ' | ' | ' |
Number of claims for further proceedings | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3 | ' | ' | ' |
Liable to pay lawsuit | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 152,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Net residential proceeds to fund or reimburse construction costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 72,000,000 | ' | ' |
Estimated obligation offset by condominium proceeds | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 72,000,000 | 72,000,000 |
Amount funded under completion guarantee | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 716,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Remaining estimated net obligation under the completion guarantee | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 97,000,000 |
Amount that can be issued | ' | ' | ' | ' | 500,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total letters of credit | ' | ' | ' | 35,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Guarantees provided | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $39,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stockholders_Equity_Additional
Stockholders' Equity - Additional Information (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Mar. 31, 2013 | Mar. 31, 2012 | Sep. 30, 2013 | Mar. 31, 2013 | Mar. 31, 2012 | Feb. 28, 2014 | Feb. 28, 2014 | Feb. 28, 2014 |
In Millions, except Share data, unless otherwise specified | Non-controlling Interests [Member] | Non-controlling Interests [Member] | Non-controlling Interests [Member] | MGM China [Member] | MGM China [Member] | MGM China [Member] | MGM China [Member] | MGM China [Member] | MGM China [Member] | ||
Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | |||||||||
Dividend Paid [Member] | Final dividend [Member] | ||||||||||
Class of Stock [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of authorized shares of common stock | 1,000,000,000 | 1,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Remaining number of shares authorized to be repurchased | 20,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dividends paid | ' | ' | $55 | $245 | $196 | $113 | $500 | $400 | ' | ' | ' |
Dividends paid | ' | ' | ' | ' | ' | 58 | 255 | 204 | ' | ' | ' |
Dividend declared | ' | ' | ' | ' | ' | ' | ' | ' | ' | 500 | 128 |
Dividend receivable | ' | ' | ' | ' | ' | ' | ' | ' | $255 | ' | ' |
Non_Controlling_Interests_Addi
Non Controlling Interests - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Noncontrolling Interest [Abstract] | ' | ' | ' |
Distributions to noncontrolling interests | $318,348 | $206,806 | $3,768 |
Net income attributable to noncontrolling interests | $213,108 | $150,779 | $120,307 |
StockBased_Compensation_Additi
Stock-Based Compensation - Additional Information (Detail) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Intrinsic value of share-based awards exercised | 3,000,000 |
Stock Options and SARs [Member] | Minimum [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Term of award | '7 years |
Vesting period | '4 years |
Stock Options and SARs [Member] | Maximum [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Term of award | '10 years |
Vesting period | '5 years |
RSUs [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Vesting period | '4 years |
Omnibus Plan [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Maximum number of shares to be issued | 35,000,000 |
Number of shares available for grant as share-based awards | 15,000,000 |
Omnibus Plan [Member] | Stock Options and SARs [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Unamortized compensation | 32,000,000 |
Weighted-average period over which compensation cost is expected to be recognized | '1 year 7 months 6 days |
Omnibus Plan [Member] | Stock Options and SARs [Member] | Maximum [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Term of award | '10 years |
Omnibus Plan [Member] | RSUs [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Unamortized compensation | 15,000,000 |
Weighted-average period over which compensation cost is expected to be recognized | '1 year 8 months 12 days |
Vested shares deferred by members of Board of Directors | 580,000 |
Omnibus Plan [Member] | PSUs [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Performance period | '3 years |
Ending average price that must equal target price, defined as a percentage of beginning average stock price | 125.00% |
Shares issued | 0 |
Period of average closing price of common stock on which beginning and ending prices are based | '60 days |
Unamortized compensation | 10,000,000 |
Weighted-average period over which compensation cost is expected to be recognized | '2 years 2 months 12 days |
Omnibus Plan [Member] | PSUs [Member] | Minimum [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Ending price required for issuance of shares as a percentage of target price | 60.00% |
Omnibus Plan [Member] | PSUs [Member] | Maximum [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Capped payout as a percentage of the target award | 160.00% |
Omnibus Plan [Member] | Board of Directors [Member] | RSUs [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Vested shares deferred by members of Board of Directors | 62,000 |
MGM China Share Option Plan [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Intrinsic value of share-based awards exercised | 14,769,000 |
MGM China [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Proceeds related to the exercise of share-based awards | 6,000,000 |
Expenses to repurchase common stock for cancelation | 9,000,000 |
MGM China [Member] | MGM China Share Option Plan [Member] | Stock Options [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Term of award | '10 years |
Vesting period | '4 years |
Number of shares available for grant as share-based awards | 359,000,000 |
Unamortized compensation | 10,000,000 |
Weighted-average period over which compensation cost is expected to be recognized | '1 year 8 months 12 days |
Business days immediately preceding the offer date for which average closing price is considered | '5 days |
MGM China [Member] | MGM China Share Option Plan [Member] | Stock Options [Member] | Maximum [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Term of award | '10 years |
Shares issuable upon exercise as percentage of issued shares as of plan approval date | 10.00% |
StockBased_Compensation_Summar
Stock-Based Compensation - Summary of Stock Options and Stock Appreciation Rights Activity (Detail) (Omnibus Plan [Member], USD $) | 12 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 |
Omnibus Plan [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Outstanding at the beginning of the period (in shares) | 22,929 |
Granted (in shares) | 1,717 |
Exercised (in shares) | -3,027 |
Forfeited or expired (in shares) | -5,545 |
Outstanding at the end of the period (in shares) | 16,074 |
Vested and expected to vest at the end of the period (in shares) | 15,726 |
Exercisable at the end of the period (in shares) | 10,393 |
Outstanding at the beginning of the period (in dollars per share) | $14.44 |
Granted (in dollars per share) | $19.98 |
Exercised (in dollars per share) | $10.65 |
Forfeited or expired (in dollars per share) | $16.09 |
Outstanding at the end of the period (in dollars per share) | $15.22 |
Vested and expected to vest at the end of the period (in dollars per share) | $15.21 |
Exercisable at the end of the period (in dollars per share) | $16.37 |
Outstanding at the end of the period | '3 years 9 months 11 days |
Vested and expected to vest at the end of the period | '3 years 8 months 23 days |
Exercisable at the end of the period | '2 years 10 months 6 days |
Outstanding at the end of the period (in dollars) | $165,484 |
Vested and expected to vest at the end of the period (in dollars) | 162,736 |
Exercisable at the end of the period (in dollars) | $106,300 |
StockBased_Compensation_Schedu
Stock-Based Compensation - Schedule of Restricted Stock Units and Performance Share Units (Detail) (Omnibus Plan [Member], USD $) | 12 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 |
PSUs [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Nonvested at the beginning of the period (in shares) | 688 |
Granted (in shares) | 373 |
Forfeited (in shares) | -6 |
Nonvested at the end of the period (in shares) | 1,055 |
Nonvested at the beginning of the period (in dollars per share) | $10.03 |
Granted (in dollars per share) | $21.01 |
Forfeited (in dollars per share) | $10.03 |
Nonvested at the end of the period (in dollars per share) | $13.91 |
Nonvested at the beginning of period, Weighted Average Target Price (in dollars per share) | $13.37 |
Granted, Weighted Average Target Price (in dollars per share) | $23.50 |
Forfeited, Weighted Average Target Price (in dollars per share) | $13.37 |
Nonvested at the end of period, Weighted Average Target Price (in dollars per share) | $16.95 |
RSUs [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Nonvested at the beginning of the period (in shares) | 1,424 |
Granted (in shares) | 566 |
Vested (in shares) | -580 |
Forfeited (in shares) | -71 |
Nonvested at the end of the period (in shares) | 1,339 |
Nonvested at the beginning of the period (in dollars per share) | $10.17 |
Granted (in dollars per share) | $19.38 |
Vested (in dollars per share) | $10.66 |
Forfeited (in dollars per share) | $10.28 |
Nonvested at the end of the period (in dollars per share) | $13.85 |
StockBased_Compensation_Schedu1
Stock-Based Compensation - Schedule of Additional Information Related to Stock Options, SARs and RSUs (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ' | ' |
Intrinsic value of share-based awards exercised or RSUs vested | $28,880 | $6,451 | $4,841 |
Income tax benefit from share-based awards exercised or RSUs vested | $9,975 | $2,236 | $1,675 |
StockBased_Compensation_Summar1
Stock-Based Compensation - Summary of Stock Option Activity (Detail) (USD $) | 12 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Exercisable at the end of the period (in dollars) | $3,000 |
MGM China Share Option Plan [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Outstanding at the beginning of the period (in shares) | 19,235 |
Granted (in shares) | 1,110 |
Exercised (in shares) | -2,704 |
Forfeited or expired (in shares) | -725 |
Outstanding at the end of the period (in shares) | 16,916 |
Vested and expected to vest at the end of the period (in shares) | 16,394 |
Exercisable at the end of the period (in shares) | 6,484 |
Outstanding at the beginning of the period (in dollars per share) | $1.98 |
Granted (in dollars per share) | $3.20 |
Exercised (in dollars per share) | $2 |
Forfeited or expired (in dollars per share) | $2.05 |
Outstanding at the end of the period (in dollars per share) | $2.06 |
Vested and expected to vest at the end of the period (in dollars per share) | $2.06 |
Exercisable at the end of the period (in dollars per share) | $1.98 |
Outstanding at the end of the period | '7 years 5 months 27 days |
Vested and expected to vest at the end of the period | '7 years 5 months 23 days |
Exercisable at the end of the period | '7 years 4 months 2 days |
Outstanding at the end of the period (in dollars) | 37,291 |
Vested and expected to vest at the end of the period (in dollars) | 21,396 |
Exercisable at the end of the period (in dollars) | $14,769 |
StockBased_Compensation_Schedu2
Stock-Based Compensation - Schedule of Compensation Cost Recognized (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Compensation cost: | ' | ' | ' |
Compensation cost | $33,422 | $43,428 | $44,279 |
Less: Reimbursed costs and other | -1,090 | -3,868 | -4,572 |
Compensation cost recognized as expense | 32,332 | 39,560 | 39,707 |
Less: Related tax benefit | ' | -1,660 | -12,712 |
Compensation expense, net of tax benefit | 32,332 | 37,900 | 26,995 |
Omnibus Plan [Member] | ' | ' | ' |
Compensation cost: | ' | ' | ' |
Compensation cost | 27,201 | 37,588 | 41,103 |
MGM China Share Option Plan [Member] | ' | ' | ' |
Compensation cost: | ' | ' | ' |
Compensation cost | $6,221 | $5,840 | $3,176 |
StockBased_Compensation_Weight
Stock-Based Compensation - Weighted Average Assumptions Utilized for SARs Grants (Detail) (Omnibus Plan [Member], Stock Appreciation Rights (SARs) [Member], USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Omnibus Plan [Member] | Stock Appreciation Rights (SARs) [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Expected volatility (as a percent) | 54.00% | 65.00% | 72.00% |
Expected term | '4 years 10 months 24 days | '5 years | '4 years 10 months 24 days |
Expected dividend yield (as a percent) | 0.00% | 0.00% | 0.00% |
Risk-free interest rate (as a percent) | 1.60% | 0.70% | 1.00% |
Weighted-average fair value of SARs granted (in dollars per share) | $9.44 | $5.60 | $5.29 |
StockBased_Compensation_Weight1
Stock-Based Compensation - Weighted Average Assumptions Utilized for PSUs (Detail) (Omnibus Plan [Member], PSUs [Member], USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Omnibus Plan [Member] | PSUs [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Expected volatility (as a percent) | 40.00% | 49.00% |
Expected term | '3 years | '3 years |
Expected dividend yield (as a percent) | 0.00% | 0.00% |
Risk-free interest rate (as a percent) | 0.60% | 0.40% |
Weighted-average fair value of PSUs granted (in dollars per share) | $21.01 | $10.03 |
StockBased_Compensation_Weight2
Stock-Based Compensation - Weighted Average Assumptions Utilized for Stock Option Grants (Detail) (MGM China [Member], MGM China Share Option Plan [Member], Stock Options [Member], USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
MGM China [Member] | MGM China Share Option Plan [Member] | Stock Options [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Expected volatility (as a percent) | 46.00% | 60.00% | 60.00% |
Expected term | '8 years | '8 years | '8 years |
Expected dividend yield (as a percent) | 1.20% | 0.00% | 0.00% |
Risk-free interest rate (as a percent) | 1.70% | 2.10% | 2.10% |
Weighted-average fair value of options granted (in dollars per share) | $1.39 | $1.13 | $1.26 |
Employee_Benefit_Plans_Table_O
Employee Benefit Plans - Table Outlining Company's Participation in Pension Plan (Detail) (Southern Nevada Culinary and Bartenders Pension Plan [Member]) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Southern Nevada Culinary and Bartenders Pension Plan [Member] | ' | ' | ' |
Multiemployer Plans [Line Items] | ' | ' | ' |
Employer identification number | '886016617 | ' | ' |
Pension plan number | '001 | ' | ' |
Pension Protection Act Zone Status | ' | 'Green | 'Green |
Expiration Date of Collective Bargaining Agreements, First | 12-Nov-14 | ' | ' |
Expiration Date of Collective Bargaining Agreements, Last | 31-May-18 | ' | ' |
Employee_Benefit_Plans_Table_O1
Employee Benefit Plans - Table Outlining Company's Participation in Pension Plan (Parenthetical) (Detail) (Multiemployer Benefit Plans [Member]) | 12 Months Ended |
Dec. 31, 2013 | |
Agreement | |
Multiemployer Benefit Plans [Member] | ' |
Multiemployer Plans [Line Items] | ' |
Number of collective-bargaining agreements that require contributions to the Pension Plan | 10 |
Employee_Benefit_Plans_Schedul
Employee Benefit Plans - Schedule of Contributions of Company's Multiemployer Pension Plans and Other Multiemployer Benefit Plans (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Southern Nevada Culinary and Bartenders Pension Plan [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Contributions | $37,691 | $35,556 | $31,476 |
Other pension plans not individually significant [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Contributions | 8,280 | 8,083 | 7,812 |
Multiemployer Benefit Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Contributions | 45,971 | 43,639 | 39,288 |
UNITE HERE Health [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Contributions | 167,494 | 162,453 | 160,270 |
Other benefit plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Contributions | 15,367 | 14,172 | 13,608 |
Multiemployer Benefit Plans Other Than Pensions [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Contributions | $182,861 | $176,625 | $173,878 |
Employee_Benefit_Plans_Additio
Employee Benefit Plans - Additional Information (Detail) (USD $) | 1 Months Ended | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2008 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' | ' |
Percentage increase in hours worked by employees | ' | 3.00% | 1.00% | ' |
Liability for health care claims | ' | $19 | $22 | ' |
Workers compensation liability | ' | 42 | 40 | ' |
Employee contribution limit per calendar year as a percentage of compensation | ' | 30.00% | ' | ' |
Amount of charges recorded for 401(k) contributions | ' | 13 | 12 | 10 |
Maximum retirement benefit as a percentage of participant's estimated average annual salary | 65.00% | ' | ' | ' |
Period for estimated average annual salary to provide a retirement benefit | '5 years | ' | ' | ' |
Vesting, plan participation only portion, plan participation period | ' | '3 years | ' | ' |
Vesting, plan participation and continuous service portion, plan participation period | ' | '5 years | ' | ' |
Vesting, plan participation and continuous service portion, continuous service period | ' | '10 years | ' | ' |
Contributions to retirement plan | ' | $5 | $4 | $2 |
Bellagio Aria Mandalay Bay and MGM Grand Las Vegas [Member] | ' | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' | ' |
Minimum percentage of total contributions to be listed in Pension Plan's Forms 5500 | ' | ' | 5.00% | 5.00% |
Property_Transactions_Net_Sche
Property Transactions, Net - Schedule of Property Transactions, Net (Detail) (USD $) | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 0 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Jun. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2013 | Jun. 30, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Sep. 30, 2011 | Dec. 31, 2011 |
Borgata Trust [Member] | Borgata Trust [Member] | Borgata Trust [Member] | Grand Victoria [Member] | Grand Victoria [Member] | Grand Victoria [Member] | Grand Victoria [Member] | Grand Victoria [Member] | Grand Victoria [Member] | Silver Legacy [Member] | Corporate Buildings [Member] | Other Nevada Land [Member] | North Las Vegas Strip Land [Member] | North Las Vegas Strip Land [Member] | Atlantic City Land [Member] | Atlantic City Land [Member] | Circus Circus Reno [Member] | Circus Circus Reno [Member] | |||||
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Asset impairment charges | $45 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $44,510 | ' | ' | ' | ' | ' | ' | ' |
Real estate impairment charges | ' | 20,354 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20,354 | 366,000 | 366,406 | 167,000 | 166,569 | ' | ' |
Investment impairment | ' | ' | ' | ' | ' | ' | ' | 37,000 | 85,000 | 37,000 | 85,000 | 36,607 | 85,009 | 22,966 | ' | ' | ' | ' | ' | ' | ' | ' |
Impairment charges on cost method investments | ' | ' | ' | ' | 65,000 | 65,000 | 61,962 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Asset impairment charges | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 80,000 | 79,658 |
Other property transactions, net | ' | 23,290 | 25,065 | 14,012 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property transactions, net | ' | $124,761 | $708,049 | $178,598 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property_Transactions_Net_Addi
Property Transactions, Net - Additional Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||
Jun. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Jun. 30, 2013 | |
Borgata Trust [Member] | Borgata Trust [Member] | Borgata Trust [Member] | Borgata Trust [Member] | Borgata Trust [Member] | Borgata Trust [Member] | Borgata Trust [Member] | Borgata Trust [Member] | Borgata Trust [Member] | Jean, Nevada [Member] | Sloan, Nevada [Member] | Other Joint Venture [Member] | |||
Nonrecurring Fair Value Measurement [Member] | Nonrecurring Fair Value Measurement [Member] | Nonrecurring Fair Value Measurement [Member] | Nonrecurring Fair Value Measurement [Member] | Nonrecurring Fair Value Measurement [Member] | Nonrecurring Fair Value Measurement [Member] | acre | acre | |||||||
Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | |||||||||||
Discounted Cash Flow Analysis [Member] | Discounted Cash Flow Analysis [Member] | |||||||||||||
Schedule of Equity Method Investments [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Corporate buildings impairment charges | $45,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of ownership interests | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% |
Area of land (in acres) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 170 | 89 | ' |
Land impairment charge | ' | 20,354,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Estimated fair value | ' | 24,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Impairment charges on cost method investments | ' | ' | 65,000,000 | 65,000,000 | 61,962,000 | 65,000,000 | 62,000,000 | ' | ' | ' | ' | ' | ' | ' |
Estimated fair value | ' | ' | ' | ' | ' | ' | ' | $120,000,000 | $185,000,000 | ' | ' | ' | ' | ' |
Discount rate (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.50% | 10.50% | ' | ' | ' |
Long-term growth rate (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.50% | 3.00% | ' | ' | ' |
Property_Transactions_Net_Addi1
Property Transactions, Net - Additional Information 1 (Detail) (USD $) | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Sep. 30, 2011 | Dec. 31, 2011 | Sep. 30, 2011 | Dec. 31, 2011 | |
North Las Vegas Strip Land [Member] | North Las Vegas Strip Land [Member] | North Las Vegas Strip Land [Member] | Atlantic City Land [Member] | Atlantic City Land [Member] | Atlantic City Land [Member] | Circus Circus Reno [Member] | Circus Circus Reno [Member] | Circus Circus Reno [Member] | Railroad Pass [Member] | ||
acre | acre | Nonrecurring Fair Value Measurement [Member] | acre | acre | Nonrecurring Fair Value Measurement [Member] | Nonrecurring Fair Value Measurement [Member] | |||||
Fair Value, Inputs, Level 2 and 3 [Member] | Fair Value, Inputs, Level 2 and 3 [Member] | Level 3 [Member] | |||||||||
Discounted Cash Flow Analysis [Member] | |||||||||||
Schedule of Equity Method Investments [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Area of land (in acres) | ' | 33.5 | 33.5 | ' | 86 | 86 | ' | ' | ' | ' | ' |
Real estate impairment charges | $20,354,000 | $366,000,000 | $366,406,000 | ' | $167,000,000 | $166,569,000 | ' | ' | ' | ' | ' |
Estimated fair value | ' | ' | ' | 214,000,000 | ' | ' | 125,000,000 | ' | ' | ' | ' |
Non-cash impairment charges | ' | ' | ' | ' | ' | ' | ' | 80,000,000 | 79,658,000 | ' | ' |
Long-term growth rate (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.00% | ' |
Discount rate (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 16.50% | ' |
Goodwill write-off related to Railroad Pass | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $5,000,000 |
Segment_Information_Additional
Segment Information - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2013 | |
Segment | |
Region | |
Segment Reporting [Abstract] | ' |
Number of geographic regions, where principal operating activities of the entity occur | 2 |
Number of reportable segments | 2 |
Segment_Information_Schedule_o
Segment Information - Schedule of Segment Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net revenues | $2,513,213 | $2,463,037 | $2,481,265 | $2,352,148 | $2,294,511 | $2,254,978 | $2,323,765 | $2,287,590 | $9,809,663 | $9,160,844 | $7,849,312 |
Adjusted EBITDA | ' | ' | ' | ' | ' | ' | ' | ' | 2,098,812 | 1,718,399 | 1,556,569 |
Other operating income (expense): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preopening and start-up expenses | ' | ' | ' | ' | ' | ' | ' | ' | -13,314 | -2,127 | 316 |
Property transactions, net | ' | ' | ' | ' | ' | ' | ' | ' | -124,761 | -708,049 | -178,598 |
Gain on MGM China transaction | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,496,005 |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | -849,225 | -927,697 | -817,146 |
Operating income | 330,330 | 247,763 | 231,602 | 301,817 | -424,856 | 137,401 | 175,375 | 192,606 | 1,111,512 | 80,526 | 4,057,146 |
Non-operating expense: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest expense, net of amounts capitalized | ' | ' | ' | ' | ' | ' | ' | ' | -857,347 | -1,116,358 | -1,086,832 |
Non-operating items from unconsolidated affiliates | ' | ' | ' | ' | ' | ' | ' | ' | -157,338 | -90,020 | -119,013 |
Other, net | ' | ' | ' | ' | ' | ' | ' | ' | -9,062 | -608,361 | -19,670 |
Total non-operating income (expense) | ' | ' | ' | ' | ' | ' | ' | ' | -1,023,747 | -1,814,739 | -1,225,515 |
Income (loss) before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 87,765 | -1,734,213 | 2,831,631 |
Benefit (provision) for income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -31,263 | 117,301 | 403,313 |
Net income (loss) | 40,877 | 23,625 | -30,578 | 22,578 | -1,188,497 | -154,674 | -70,434 | -203,307 | 56,502 | -1,616,912 | 3,234,944 |
Less: Net income attributable to noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | -213,108 | -150,779 | -120,307 |
Net income (loss) attributable to MGM Resorts International | ' | ' | ' | ' | ' | ' | ' | ' | -156,606 | -1,767,691 | 3,114,637 |
Wholly owned domestic resorts [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net revenues | ' | ' | ' | ' | ' | ' | ' | ' | 6,052,644 | 5,932,791 | 5,892,902 |
Adjusted EBITDA | ' | ' | ' | ' | ' | ' | ' | ' | 1,442,686 | 1,325,220 | 1,298,116 |
MGM China [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net revenues | ' | ' | ' | ' | ' | ' | ' | ' | 3,316,928 | 2,807,676 | 1,534,963 |
Adjusted EBITDA | ' | ' | ' | ' | ' | ' | ' | ' | 814,109 | 679,345 | 359,686 |
Reportable segments [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net revenues | ' | ' | ' | ' | ' | ' | ' | ' | 9,369,572 | 8,740,467 | 7,427,865 |
Adjusted EBITDA | ' | ' | ' | ' | ' | ' | ' | ' | 2,256,795 | 2,004,565 | 1,657,802 |
Corporate and other [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net revenues | ' | ' | ' | ' | ' | ' | ' | ' | 440,091 | 420,377 | 421,447 |
Adjusted EBITDA | ' | ' | ' | ' | ' | ' | ' | ' | ($157,983) | ($286,166) | ($101,233) |
Segment_Information_Schedule_o1
Segment Information - Schedule of Segment Capital Expenditures Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Segment Reporting Information [Line Items] | ' | ' | ' |
Total assets | $26,110,185 | $26,284,738 | ' |
Property and equipment, net | 14,055,212 | 14,194,652 | ' |
Capital expenditures | 562,124 | 422,763 | 301,244 |
Eliminated in consolidation [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Total assets | -24,066,974 | -23,874,968 | ' |
Property and equipment, net | -11,972 | -11,972 | ' |
Capital expenditures | ' | ' | ' |
Capital expenditure payment | -15,981 | -5,709 | ' |
Wholly owned domestic resorts [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Total assets | 13,151,719 | 13,442,067 | ' |
Property and equipment, net | 11,787,880 | 12,145,724 | ' |
Capital expenditures | 216,147 | 258,519 | 235,638 |
MGM China [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Total assets | 9,203,742 | 9,097,845 | ' |
Property and equipment, net | 957,769 | 737,920 | ' |
Capital expenditures | 254,516 | 80,018 | 26,649 |
Reportable segments [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Total assets | 22,355,461 | 22,539,912 | ' |
Property and equipment, net | 12,745,649 | 12,883,644 | ' |
Capital expenditures | 470,663 | 338,537 | 262,287 |
Corporate and other [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Total assets | 3,776,414 | 3,750,535 | ' |
Property and equipment, net | 1,331,253 | 1,316,717 | ' |
Capital expenditures | $107,442 | $89,935 | $38,957 |
Related_Party_Transactions_Add
Related Party Transactions - Additional Information (Detail) (USD $) | 12 Months Ended | 12 Months Ended | 7 Months Ended | 12 Months Ended | 7 Months Ended | 12 Months Ended | 7 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2011 | Apr. 30, 2010 | Jun. 30, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
CityCenter Holdings, LLC [Member] | CityCenter Holdings, LLC [Member] | CityCenter Holdings, LLC [Member] | CityCenter Holdings, LLC [Member] | CityCenter Holdings, LLC [Member] | CityCenter Holdings, LLC [Member] | CityCenter Holdings, LLC [Member] | CityCenter Holdings, LLC [Member] | CityCenter Holdings, LLC [Member] | Aria and Vdara [Member] | Crystals [Member] | 4.25% convertible senior notes, due 2015, net [Member] | 4.25% convertible senior notes, due 2015, net [Member] | 4.25% convertible senior notes, due 2015, net [Member] | 4.25% convertible senior notes, due 2015, net [Member] | 4.25% convertible senior notes, due 2015, net [Member] | OE Pub, LLC [Member] | OE Pub, LLC [Member] | OE Pub, LLC [Member] | MGM Branding and Development and MGM China [Member] | MGM Branding and Development and MGM China [Member] | MGM Branding and Development and MGM China [Member] | MGM Branding and Development and MGM China [Member] | MGM Branding and Development and MGM China [Member] | MGM Branding and Development and MGM China [Member] | MGM Branding and Development and MGM China [Member] | MGM Branding and Development and MGM China [Member] | MGM Branding and Development and MGM China [Member] | MGM China [Member] | MGM China [Member] | MGM China [Member] | MGM China [Member] | MGM China [Member] | MGM China [Member] | MGM Branding and Development [Member] | MGM Branding and Development [Member] | MGM Branding and Development [Member] | |
Aircraft Agreement [Member] | Aircraft Agreement [Member] | Aircraft Agreement [Member] | Management Services and Reimbursable Costs [Member] | Management Services and Reimbursable Costs [Member] | Management Services and Reimbursable Costs [Member] | CityCenter Holdings, LLC [Member] | CityCenter Holdings, LLC [Member] | Ms. Pansy Ho [Member] | CityCenter Holdings, LLC [Member] | CityCenter Holdings, LLC [Member] | CityCenter Holdings, LLC [Member] | Development Services Agreement [Member] | Development Services Agreement [Member] | Development Services Agreement [Member] | Development Services Agreement [Member] | Brand License Agreement [Member] | Brand License Agreement [Member] | Brand License Agreement [Member] | Brand License Agreement [Member] | Brand License Agreement [Member] | Shun Tak [Member] | Shun Tak [Member] | Shun Tak [Member] | Shun Tak [Member] | Shun Tak [Member] | Shun Tak [Member] | Ms. Pansy Ho [Member] | Ms. Pansy Ho [Member] | Ms. Pansy Ho [Member] | ||||||||
Lease Of Retail Space [Member] | Lease Of Retail Space [Member] | Lease Of Retail Space [Member] | Maximum [Member] | Maximum [Member] | Ms. Pansy Ho [Member] | Ms. Pansy Ho [Member] | Ms. Pansy Ho [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | |||||||||||||||||||||||||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Management fee as a percentage of revenue | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Management fee received, percentage of EBITDA | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Annual management fee | $38 | $32 | $33 | ' | ' | ' | ' | ' | ' | ' | $3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reimbursable costs for support services provided | ' | ' | ' | 3 | 3 | 3 | 364 | 355 | 346 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Receivable related to management services and reimbursable costs | ' | ' | ' | ' | ' | ' | 49 | 50 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expenses incurred | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | 1 | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9 | 18 | 13 | ' | ' | ' | ' | ' | ' |
Revenue related to hotel rooms provided | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | 1 | 1 | ' | ' | ' |
License fee as percentage of MGM China consolidated net revenue | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.75% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
License fee cap | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Per annum percentage increase in development fee annual cap | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | ' | ' | 20.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
License fee initial year annual cap | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 36 | 30 | 15 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
License fee initial year prorated annual cap | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Development fee as percentage of project cost | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.63% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Development fee | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 15 | 6 | 20 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Distribution made to noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 18 | 11 | 4 |
Aggregate principal amount of notes issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,450 | $1,450 | ' | ' | $300 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate of debt (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4.25% | 4.25% | 4.25% | 4.25% | 4.25% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidating_Condensed_Financ2
Consolidating Condensed Financial Information - Schedule of Condensed Consolidating Balance Sheet Information (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
In Thousands, unless otherwise specified | ||||
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' |
Current assets | $2,719,439 | $2,507,092 | ' | ' |
Property and equipment, net | 14,055,212 | 14,194,652 | ' | ' |
Investments in subsidiaries | ' | ' | ' | ' |
Investments in and advances to unconsolidated affiliates | 1,374,836 | 1,444,547 | ' | ' |
Other non-current assets | 7,960,698 | 8,138,447 | ' | ' |
Total assets | 26,110,185 | 26,284,738 | ' | ' |
Current liabilities | 2,215,328 | 1,925,671 | ' | ' |
Intercompany accounts | ' | ' | ' | ' |
Deferred income taxes | 2,430,414 | 2,473,889 | ' | ' |
Long-term debt | 13,447,230 | 13,589,283 | ' | ' |
Other long-term obligations | 141,590 | 179,879 | ' | ' |
Total liabilities | 18,234,562 | 18,168,722 | ' | ' |
MGM Resorts International stockholders' equity | 4,231,179 | 4,365,548 | ' | ' |
Noncontrolling interests | 3,644,444 | 3,750,468 | ' | ' |
Total stockholders' equity | 7,875,623 | 8,116,016 | 9,882,222 | 2,932,162 |
Total liabilities and stockholders' equity | 26,110,185 | 26,284,738 | ' | ' |
Parent [Member] | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' |
Current assets | 494,296 | 438,878 | ' | ' |
Property and equipment, net | ' | ' | ' | ' |
Investments in subsidiaries | 20,017,270 | 19,785,312 | ' | ' |
Investments in and advances to unconsolidated affiliates | ' | ' | ' | ' |
Other non-current assets | 167,552 | 163,372 | ' | ' |
Total assets | 20,679,118 | 20,387,562 | ' | ' |
Current liabilities | 340,343 | 272,138 | ' | ' |
Intercompany accounts | 1,446,952 | 960,610 | ' | ' |
Deferred income taxes | 2,120,676 | 2,222,823 | ' | ' |
Long-term debt | 12,441,112 | 12,432,581 | ' | ' |
Other long-term obligations | 98,856 | 133,862 | ' | ' |
Total liabilities | 16,447,939 | 16,022,014 | ' | ' |
MGM Resorts International stockholders' equity | 4,231,179 | 4,365,548 | ' | ' |
Noncontrolling interests | ' | ' | ' | ' |
Total stockholders' equity | 4,231,179 | 4,365,548 | ' | ' |
Total liabilities and stockholders' equity | 20,679,118 | 20,387,562 | ' | ' |
Guarantor Subsidiaries [Member] | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' |
Current assets | 903,537 | 891,826 | ' | ' |
Property and equipment, net | 12,552,828 | 12,881,152 | ' | ' |
Investments in subsidiaries | 4,037,168 | 4,077,228 | ' | ' |
Investments in and advances to unconsolidated affiliates | 1,367,071 | 1,437,151 | ' | ' |
Other non-current assets | 542,259 | 541,634 | ' | ' |
Total assets | 19,402,863 | 19,828,991 | ' | ' |
Current liabilities | 959,118 | 989,864 | ' | ' |
Intercompany accounts | -1,470,305 | -983,288 | ' | ' |
Deferred income taxes | ' | ' | ' | ' |
Long-term debt | 4,836 | 155,413 | ' | ' |
Other long-term obligations | 41,758 | 45,303 | ' | ' |
Total liabilities | -464,593 | 207,292 | ' | ' |
MGM Resorts International stockholders' equity | 19,867,456 | 19,621,699 | ' | ' |
Noncontrolling interests | ' | ' | ' | ' |
Total stockholders' equity | 19,867,456 | 19,621,699 | ' | ' |
Total liabilities and stockholders' equity | 19,402,863 | 19,828,991 | ' | ' |
Non-Guarantor Subsidiaries [Member] | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' |
Current assets | 1,322,170 | 1,176,844 | ' | ' |
Property and equipment, net | 1,514,356 | 1,325,472 | ' | ' |
Investments in subsidiaries | ' | ' | ' | ' |
Investments in and advances to unconsolidated affiliates | 7,765 | 7,396 | ' | ' |
Other non-current assets | 7,250,887 | 7,433,441 | ' | ' |
Total assets | 10,095,178 | 9,943,153 | ' | ' |
Current liabilities | 941,431 | 672,125 | ' | ' |
Intercompany accounts | 23,353 | 22,678 | ' | ' |
Deferred income taxes | 309,738 | 251,066 | ' | ' |
Long-term debt | 1,001,282 | 1,001,289 | ' | ' |
Other long-term obligations | 976 | 714 | ' | ' |
Total liabilities | 2,276,780 | 1,947,872 | ' | ' |
MGM Resorts International stockholders' equity | 4,173,954 | 4,244,813 | ' | ' |
Noncontrolling interests | 3,644,444 | 3,750,468 | ' | ' |
Total stockholders' equity | 7,818,398 | 7,995,281 | ' | ' |
Total liabilities and stockholders' equity | 10,095,178 | 9,943,153 | ' | ' |
Eliminated in consolidation [Member] | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' |
Current assets | -564 | -456 | ' | ' |
Property and equipment, net | -11,972 | -11,972 | ' | ' |
Investments in subsidiaries | -24,054,438 | -23,862,540 | ' | ' |
Investments in and advances to unconsolidated affiliates | ' | ' | ' | ' |
Other non-current assets | ' | ' | ' | ' |
Total assets | -24,066,974 | -23,874,968 | ' | ' |
Current liabilities | -25,564 | -8,456 | ' | ' |
Intercompany accounts | ' | ' | ' | ' |
Deferred income taxes | ' | ' | ' | ' |
Long-term debt | ' | ' | ' | ' |
Other long-term obligations | ' | ' | ' | ' |
Total liabilities | -25,564 | -8,456 | ' | ' |
MGM Resorts International stockholders' equity | -24,041,410 | -23,866,512 | ' | ' |
Noncontrolling interests | ' | ' | ' | ' |
Total stockholders' equity | -24,041,410 | -23,866,512 | ' | ' |
Total liabilities and stockholders' equity | ($24,066,974) | ($23,874,968) | ' | ' |
Condensed_Consolidating_Financ
Condensed Consolidating Financial Information - Schedule of Condensed Consolidating Statement of Operations and Comprehensive Income Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net revenues | $2,513,213 | $2,463,037 | $2,481,265 | $2,352,148 | $2,294,511 | $2,254,978 | $2,323,765 | $2,287,590 | $9,809,663 | $9,160,844 | $7,849,312 |
Equity in subsidiaries' earnings | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Casino and hotel operations | ' | ' | ' | ' | ' | ' | ' | ' | 6,258,716 | 5,921,282 | 5,026,361 |
General and administrative | ' | ' | ' | ' | ' | ' | ' | ' | 1,278,450 | 1,239,774 | 1,182,505 |
Corporate expense | ' | ' | ' | ' | ' | ' | ' | ' | 216,745 | 235,007 | 174,971 |
Preopening and start-up expenses | ' | ' | ' | ' | ' | ' | ' | ' | 13,314 | 2,127 | -316 |
Property transactions, net | ' | ' | ' | ' | ' | ' | ' | ' | 124,761 | 708,049 | 178,598 |
Gain on MGM China transaction | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -3,496,005 |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 849,225 | 927,697 | 817,146 |
Total expenses | ' | ' | ' | ' | ' | ' | ' | ' | 8,741,211 | 9,033,936 | 3,883,260 |
Income (loss) from unconsolidated affiliates | ' | ' | ' | ' | ' | ' | ' | ' | 43,060 | -46,382 | 91,094 |
Operating income | 330,330 | 247,763 | 231,602 | 301,817 | -424,856 | 137,401 | 175,375 | 192,606 | 1,111,512 | 80,526 | 4,057,146 |
Interest expense, net of amounts capitalized | ' | ' | ' | ' | ' | ' | ' | ' | -857,347 | -1,116,358 | -1,086,832 |
Other, net | ' | ' | ' | ' | ' | ' | ' | ' | -166,400 | -698,381 | -138,683 |
Income (loss) before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 87,765 | -1,734,213 | 2,831,631 |
Benefit (provision) for income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -31,263 | 117,301 | 403,313 |
Net income (loss) | 40,877 | 23,625 | -30,578 | 22,578 | -1,188,497 | -154,674 | -70,434 | -203,307 | 56,502 | -1,616,912 | 3,234,944 |
Less: Net income attributable to noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | -213,108 | -150,779 | -120,307 |
Net income (loss) attributable to MGM Resorts International | -38,335 | -31,859 | -92,958 | 6,546 | -1,223,827 | -181,159 | -145,452 | -217,253 | -156,606 | -1,767,691 | 3,114,637 |
Net income (loss) | 40,877 | 23,625 | -30,578 | 22,578 | -1,188,497 | -154,674 | -70,434 | -203,307 | 56,502 | -1,616,912 | 3,234,944 |
Other comprehensive income (loss), net of tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Foreign currency translation adjustment | ' | ' | ' | ' | ' | ' | ' | ' | -3,993 | 17,124 | 11,692 |
Other | ' | ' | ' | ' | ' | ' | ' | ' | 115 | -445 | -37 |
Other comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -3,878 | 16,679 | 11,655 |
Comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 52,624 | -1,600,233 | 3,246,599 |
Less: comprehensive income attributable to noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | -211,030 | -159,133 | -125,683 |
Comprehensive income (loss) attributable to MGM Resorts International | ' | ' | ' | ' | ' | ' | ' | ' | -158,406 | -1,759,366 | 3,120,916 |
Parent [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity in subsidiaries' earnings | ' | ' | ' | ' | ' | ' | ' | ' | 663,605 | -210,934 | 3,899,017 |
Expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Casino and hotel operations | ' | ' | ' | ' | ' | ' | ' | ' | 5,644 | 7,623 | 10,030 |
General and administrative | ' | ' | ' | ' | ' | ' | ' | ' | 4,432 | 7,101 | 7,613 |
Corporate expense | ' | ' | ' | ' | ' | ' | ' | ' | 66,307 | 66,285 | 69,958 |
Preopening and start-up expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property transactions, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gain on MGM China transaction | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total expenses | ' | ' | ' | ' | ' | ' | ' | ' | 76,383 | 81,009 | 87,601 |
Income (loss) from unconsolidated affiliates | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating income | ' | ' | ' | ' | ' | ' | ' | ' | 587,222 | -291,943 | 3,811,416 |
Interest expense, net of amounts capitalized | ' | ' | ' | ' | ' | ' | ' | ' | -805,933 | -1,053,692 | -1,023,090 |
Other, net | ' | ' | ' | ' | ' | ' | ' | ' | 39,524 | -526,606 | 26,608 |
Income (loss) before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -179,187 | -1,872,241 | 2,814,934 |
Benefit (provision) for income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 22,581 | 104,550 | 299,703 |
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -156,606 | -1,767,691 | 3,114,637 |
Less: Net income attributable to noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income (loss) attributable to MGM Resorts International | ' | ' | ' | ' | ' | ' | ' | ' | -156,606 | -1,767,691 | 3,114,637 |
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -156,606 | -1,767,691 | 3,114,637 |
Other comprehensive income (loss), net of tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Foreign currency translation adjustment | ' | ' | ' | ' | ' | ' | ' | ' | -1,915 | 8,770 | 6,316 |
Other | ' | ' | ' | ' | ' | ' | ' | ' | 115 | -445 | -37 |
Other comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -1,800 | 8,325 | 6,279 |
Comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -158,406 | -1,759,366 | 3,120,916 |
Less: comprehensive income attributable to noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Comprehensive income (loss) attributable to MGM Resorts International | ' | ' | ' | ' | ' | ' | ' | ' | -158,406 | -1,759,366 | 3,120,916 |
Guarantor Subsidiaries [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net revenues | ' | ' | ' | ' | ' | ' | ' | ' | 5,955,001 | 5,782,523 | 5,745,417 |
Equity in subsidiaries' earnings | ' | ' | ' | ' | ' | ' | ' | ' | 289,384 | 220,354 | 3,761,538 |
Expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Casino and hotel operations | ' | ' | ' | ' | ' | ' | ' | ' | 3,622,940 | 3,615,288 | 3,610,357 |
General and administrative | ' | ' | ' | ' | ' | ' | ' | ' | 1,051,757 | 1,025,028 | 1,015,923 |
Corporate expense | ' | ' | ' | ' | ' | ' | ' | ' | 125,500 | 168,863 | 104,457 |
Preopening and start-up expenses | ' | ' | ' | ' | ' | ' | ' | ' | 4,205 | 1,486 | -316 |
Property transactions, net | ' | ' | ' | ' | ' | ' | ' | ' | 126,773 | 704,762 | 176,063 |
Gain on MGM China transaction | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 522,900 | 519,074 | 556,538 |
Total expenses | ' | ' | ' | ' | ' | ' | ' | ' | 5,454,075 | 6,034,501 | 5,463,022 |
Income (loss) from unconsolidated affiliates | ' | ' | ' | ' | ' | ' | ' | ' | 43,038 | -46,443 | -24,096 |
Operating income | ' | ' | ' | ' | ' | ' | ' | ' | 833,348 | -78,067 | 4,019,837 |
Interest expense, net of amounts capitalized | ' | ' | ' | ' | ' | ' | ' | ' | -6,333 | -10,986 | -18,882 |
Other, net | ' | ' | ' | ' | ' | ' | ' | ' | -160,721 | -137,201 | -114,842 |
Income (loss) before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 666,294 | -226,254 | 3,886,113 |
Benefit (provision) for income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 11,111 | 1,892 | -18 |
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 677,405 | -224,362 | 3,886,095 |
Less: Net income attributable to noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income (loss) attributable to MGM Resorts International | ' | ' | ' | ' | ' | ' | ' | ' | 677,405 | -224,362 | 3,886,095 |
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 677,405 | -224,362 | 3,886,095 |
Other comprehensive income (loss), net of tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Foreign currency translation adjustment | ' | ' | ' | ' | ' | ' | ' | ' | -1,915 | 8,770 | 6,316 |
Other | ' | ' | ' | ' | ' | ' | ' | ' | 115 | -445 | -37 |
Other comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -1,800 | 8,325 | 6,279 |
Comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 675,605 | -216,037 | 3,892,374 |
Less: comprehensive income attributable to noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Comprehensive income (loss) attributable to MGM Resorts International | ' | ' | ' | ' | ' | ' | ' | ' | 675,605 | -216,037 | 3,892,374 |
Non-Guarantor Subsidiaries [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net revenues | ' | ' | ' | ' | ' | ' | ' | ' | 3,856,728 | 3,379,891 | 2,106,195 |
Equity in subsidiaries' earnings | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Casino and hotel operations | ' | ' | ' | ' | ' | ' | ' | ' | 2,632,198 | 2,299,941 | 1,408,274 |
General and administrative | ' | ' | ' | ' | ' | ' | ' | ' | 222,261 | 207,645 | 158,969 |
Corporate expense | ' | ' | ' | ' | ' | ' | ' | ' | 41,938 | 7,859 | 556 |
Preopening and start-up expenses | ' | ' | ' | ' | ' | ' | ' | ' | 9,109 | 641 | ' |
Property transactions, net | ' | ' | ' | ' | ' | ' | ' | ' | -2,012 | 3,287 | 2,535 |
Gain on MGM China transaction | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -3,496,005 |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 326,325 | 408,623 | 260,608 |
Total expenses | ' | ' | ' | ' | ' | ' | ' | ' | 3,229,819 | 2,927,996 | -1,665,063 |
Income (loss) from unconsolidated affiliates | ' | ' | ' | ' | ' | ' | ' | ' | 22 | 61 | 115,190 |
Operating income | ' | ' | ' | ' | ' | ' | ' | ' | 626,931 | 451,956 | 3,886,448 |
Interest expense, net of amounts capitalized | ' | ' | ' | ' | ' | ' | ' | ' | -45,081 | -51,680 | -44,860 |
Other, net | ' | ' | ' | ' | ' | ' | ' | ' | -45,203 | -34,574 | -50,449 |
Income (loss) before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 536,647 | 365,702 | 3,791,139 |
Benefit (provision) for income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -64,955 | 10,859 | 103,628 |
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 471,692 | 376,561 | 3,894,767 |
Less: Net income attributable to noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | -213,108 | -150,779 | -120,307 |
Net income (loss) attributable to MGM Resorts International | ' | ' | ' | ' | ' | ' | ' | ' | 258,584 | 225,782 | 3,774,460 |
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 471,692 | 376,561 | 3,894,767 |
Other comprehensive income (loss), net of tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Foreign currency translation adjustment | ' | ' | ' | ' | ' | ' | ' | ' | -3,993 | 17,124 | 11,692 |
Other | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -3,993 | 17,124 | 11,692 |
Comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 467,699 | 393,685 | 3,906,459 |
Less: comprehensive income attributable to noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | -211,030 | -159,133 | -125,683 |
Comprehensive income (loss) attributable to MGM Resorts International | ' | ' | ' | ' | ' | ' | ' | ' | 256,669 | 234,552 | 3,780,776 |
Eliminated in consolidation [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net revenues | ' | ' | ' | ' | ' | ' | ' | ' | -2,066 | -1,570 | -2,300 |
Equity in subsidiaries' earnings | ' | ' | ' | ' | ' | ' | ' | ' | -952,989 | -9,420 | -7,660,555 |
Expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Casino and hotel operations | ' | ' | ' | ' | ' | ' | ' | ' | -2,066 | -1,570 | -2,300 |
General and administrative | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Corporate expense | ' | ' | ' | ' | ' | ' | ' | ' | -17,000 | -8,000 | ' |
Preopening and start-up expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property transactions, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total expenses | ' | ' | ' | ' | ' | ' | ' | ' | -19,066 | -9,570 | -2,300 |
Income (loss) from unconsolidated affiliates | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating income | ' | ' | ' | ' | ' | ' | ' | ' | -935,989 | -1,420 | -7,660,555 |
Interest expense, net of amounts capitalized | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income (loss) before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -935,989 | -1,420 | -7,660,555 |
Benefit (provision) for income taxes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -935,989 | -1,420 | -7,660,555 |
Less: Net income attributable to noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income (loss) attributable to MGM Resorts International | ' | ' | ' | ' | ' | ' | ' | ' | -935,989 | -1,420 | -7,660,555 |
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -935,989 | -1,420 | -7,660,555 |
Other comprehensive income (loss), net of tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Foreign currency translation adjustment | ' | ' | ' | ' | ' | ' | ' | ' | 3,830 | -17,540 | -12,632 |
Other | ' | ' | ' | ' | ' | ' | ' | ' | -115 | 445 | 37 |
Other comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 3,715 | -17,095 | -12,595 |
Comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -932,274 | -18,515 | -7,673,150 |
Less: comprehensive income attributable to noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Comprehensive income (loss) attributable to MGM Resorts International | ' | ' | ' | ' | ' | ' | ' | ' | ($932,274) | ($18,515) | ($7,673,150) |
Condensed_Consolidating_Financ1
Condensed Consolidating Financial Information - Schedule of Condensed Consolidating Statement of Cash Flows Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Cash flows from operating activities | ' | ' | ' |
Net cash provided by (used in) operating activities | $1,310,448 | $909,351 | $675,126 |
Cash flows from investing activities | ' | ' | ' |
Capital expenditures, net of construction payable | -562,124 | -422,763 | -301,244 |
Dispositions of property and equipment | 18,030 | 426 | 348 |
Acquisition of MGM China, net of cash paid | ' | ' | 407,046 |
Investments in and advances to unconsolidated affiliates | -28,953 | -54,300 | -128,848 |
Distributions from unconsolidated affiliates in excess of earnings | 110 | 1,723 | 2,212 |
Investments in treasury securities - maturities longer than 90 days | -219,546 | -285,469 | -330,313 |
Proceeds from treasury securities - maturities longer than 90 days | 252,592 | 315,438 | 330,130 |
Other | -20,246 | -1,472 | -643 |
Net cash provided by (used in) investing activities | -560,137 | -446,417 | -21,312 |
Cash flows from financing activities | ' | ' | ' |
Net borrowings (repayments) under bank credit facilities - maturities of 90 days or less | -28,000 | 1,779,262 | -305,880 |
Borrowings under bank credit facilities - maturities longer than 90 days | 2,793,000 | 1,350,000 | 7,559,112 |
Repayments under bank credit facilities - maturities longer than 90 days | -2,793,000 | -3,634,128 | -6,352,384 |
Issuance of senior notes | 500,000 | 4,100,000 | 311,415 |
Retirement of senior notes, including premiums paid | -612,262 | -4,009,117 | -493,816 |
Debt issuance costs | -23,576 | -160,245 | ' |
Intercompany accounts | ' | ' | ' |
Distributions to noncontrolling interest owners | -318,348 | -206,806 | -3,768 |
Other | -7,522 | -5,925 | -2,757 |
Net cash provided by (used in) financing activities | -489,708 | -786,959 | 711,922 |
Effect of exchange rate on cash | -443 | 1,621 | 1,213 |
Cash and cash equivalents | ' | ' | ' |
Net increase (decrease) for the period | 260,160 | -322,404 | 1,366,949 |
Balance, beginning of period | 1,543,509 | 1,865,913 | 498,964 |
Balance, end of period | 1,803,669 | 1,543,509 | 1,865,913 |
Parent [Member] | ' | ' | ' |
Cash flows from operating activities | ' | ' | ' |
Net cash provided by (used in) operating activities | -819,282 | -952,653 | -716,556 |
Cash flows from investing activities | ' | ' | ' |
Capital expenditures, net of construction payable | ' | ' | ' |
Dispositions of property and equipment | ' | ' | ' |
Acquisition of MGM China, net of cash paid | ' | ' | ' |
Investments in and advances to unconsolidated affiliates | -23,600 | -46,800 | -92,200 |
Distributions from unconsolidated affiliates in excess of earnings | ' | ' | ' |
Investments in treasury securities - maturities longer than 90 days | ' | ' | ' |
Proceeds from treasury securities - maturities longer than 90 days | ' | ' | ' |
Other | ' | -1,973 | ' |
Net cash provided by (used in) investing activities | -23,600 | -48,773 | -92,200 |
Cash flows from financing activities | ' | ' | ' |
Net borrowings (repayments) under bank credit facilities - maturities of 90 days or less | -28,000 | 1,331,500 | 167,391 |
Borrowings under bank credit facilities - maturities longer than 90 days | 2,343,000 | ' | 5,826,993 |
Repayments under bank credit facilities - maturities longer than 90 days | -2,343,000 | -1,834,128 | -5,002,384 |
Issuance of senior notes | 500,000 | 4,100,000 | 311,415 |
Retirement of senior notes, including premiums paid | -462,226 | -4,009,117 | -356,700 |
Debt issuance costs | -23,576 | -119,197 | ' |
Intercompany accounts | 985,465 | 996,462 | 586,331 |
Distributions to noncontrolling interest owners | ' | ' | ' |
Other | -4,506 | -5,035 | -1,421 |
Net cash provided by (used in) financing activities | 967,157 | 460,485 | 1,531,625 |
Effect of exchange rate on cash | ' | ' | ' |
Cash and cash equivalents | ' | ' | ' |
Net increase (decrease) for the period | 124,275 | -540,941 | 722,869 |
Balance, beginning of period | 254,385 | 795,326 | 72,457 |
Balance, end of period | 378,660 | 254,385 | 795,326 |
Guarantor Subsidiaries [Member] | ' | ' | ' |
Cash flows from operating activities | ' | ' | ' |
Net cash provided by (used in) operating activities | 1,089,341 | 989,144 | 918,628 |
Cash flows from investing activities | ' | ' | ' |
Capital expenditures, net of construction payable | -311,635 | -332,089 | -263,469 |
Dispositions of property and equipment | 11,648 | 191 | 147 |
Acquisition of MGM China, net of cash paid | ' | ' | ' |
Investments in and advances to unconsolidated affiliates | -5,353 | -7,500 | -36,648 |
Distributions from unconsolidated affiliates in excess of earnings | 110 | 1,723 | 2,212 |
Investments in treasury securities - maturities longer than 90 days | -219,546 | -285,469 | -330,313 |
Proceeds from treasury securities - maturities longer than 90 days | 252,592 | 315,438 | 330,130 |
Other | 1,354 | 501 | -643 |
Net cash provided by (used in) investing activities | -270,830 | -307,205 | -298,584 |
Cash flows from financing activities | ' | ' | ' |
Net borrowings (repayments) under bank credit facilities - maturities of 90 days or less | ' | ' | ' |
Borrowings under bank credit facilities - maturities longer than 90 days | ' | ' | ' |
Repayments under bank credit facilities - maturities longer than 90 days | ' | ' | ' |
Issuance of senior notes | ' | ' | ' |
Retirement of senior notes, including premiums paid | -150,036 | ' | -137,116 |
Debt issuance costs | ' | ' | ' |
Intercompany accounts | -657,260 | -685,752 | -529,578 |
Distributions to noncontrolling interest owners | ' | ' | ' |
Other | ' | -833 | -1,263 |
Net cash provided by (used in) financing activities | -807,296 | -686,585 | -667,957 |
Effect of exchange rate on cash | ' | ' | ' |
Cash and cash equivalents | ' | ' | ' |
Net increase (decrease) for the period | 11,215 | -4,646 | -47,913 |
Balance, beginning of period | 226,242 | 230,888 | 278,801 |
Balance, end of period | 237,457 | 226,242 | 230,888 |
Non-Guarantor Subsidiaries [Member] | ' | ' | ' |
Cash flows from operating activities | ' | ' | ' |
Net cash provided by (used in) operating activities | 1,040,389 | 872,860 | 473,054 |
Cash flows from investing activities | ' | ' | ' |
Capital expenditures, net of construction payable | -250,489 | -90,674 | -37,775 |
Dispositions of property and equipment | 6,382 | 235 | 201 |
Acquisition of MGM China, net of cash paid | ' | ' | 407,046 |
Investments in and advances to unconsolidated affiliates | ' | ' | ' |
Distributions from unconsolidated affiliates in excess of earnings | ' | ' | ' |
Investments in treasury securities - maturities longer than 90 days | ' | ' | ' |
Proceeds from treasury securities - maturities longer than 90 days | ' | ' | ' |
Other | -21,600 | ' | ' |
Net cash provided by (used in) investing activities | -265,707 | -90,439 | 369,472 |
Cash flows from financing activities | ' | ' | ' |
Net borrowings (repayments) under bank credit facilities - maturities of 90 days or less | ' | 447,762 | -473,271 |
Borrowings under bank credit facilities - maturities longer than 90 days | 450,000 | 1,350,000 | 1,732,119 |
Repayments under bank credit facilities - maturities longer than 90 days | -450,000 | -1,800,000 | -1,350,000 |
Issuance of senior notes | ' | ' | ' |
Retirement of senior notes, including premiums paid | ' | ' | ' |
Debt issuance costs | ' | -41,048 | ' |
Intercompany accounts | -328,205 | -310,710 | -56,753 |
Distributions to noncontrolling interest owners | -318,348 | -206,806 | -3,768 |
Other | -3,016 | -57 | -73 |
Net cash provided by (used in) financing activities | -649,569 | -560,859 | -151,746 |
Effect of exchange rate on cash | -443 | 1,621 | 1,213 |
Cash and cash equivalents | ' | ' | ' |
Net increase (decrease) for the period | 124,670 | 223,183 | 691,993 |
Balance, beginning of period | 1,062,882 | 839,699 | 147,706 |
Balance, end of period | 1,187,552 | 1,062,882 | 839,699 |
Eliminated in consolidation [Member] | ' | ' | ' |
Cash flows from operating activities | ' | ' | ' |
Net cash provided by (used in) operating activities | ' | ' | ' |
Cash flows from investing activities | ' | ' | ' |
Capital expenditures, net of construction payable | ' | ' | ' |
Dispositions of property and equipment | ' | ' | ' |
Acquisition of MGM China, net of cash paid | ' | ' | ' |
Investments in and advances to unconsolidated affiliates | ' | ' | ' |
Distributions from unconsolidated affiliates in excess of earnings | ' | ' | ' |
Investments in treasury securities - maturities longer than 90 days | ' | ' | ' |
Proceeds from treasury securities - maturities longer than 90 days | ' | ' | ' |
Other | ' | ' | ' |
Net cash provided by (used in) investing activities | ' | ' | ' |
Cash flows from financing activities | ' | ' | ' |
Net borrowings (repayments) under bank credit facilities - maturities of 90 days or less | ' | ' | ' |
Borrowings under bank credit facilities - maturities longer than 90 days | ' | ' | ' |
Repayments under bank credit facilities - maturities longer than 90 days | ' | ' | ' |
Issuance of senior notes | ' | ' | ' |
Retirement of senior notes, including premiums paid | ' | ' | ' |
Debt issuance costs | ' | ' | ' |
Intercompany accounts | ' | ' | ' |
Distributions to noncontrolling interest owners | ' | ' | ' |
Other | ' | ' | ' |
Net cash provided by (used in) financing activities | ' | ' | ' |
Effect of exchange rate on cash | ' | ' | ' |
Cash and cash equivalents | ' | ' | ' |
Net increase (decrease) for the period | ' | ' | ' |
Balance, beginning of period | ' | ' | ' |
Balance, end of period | ' | ' | ' |
Selected_Quarterly_Financial_R2
Selected Quarterly Financial Results (Unaudited) - Schedule of Selected Quarterly Financial Results (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Quarterly Financial Information Disclosure [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net revenues | $2,513,213 | $2,463,037 | $2,481,265 | $2,352,148 | $2,294,511 | $2,254,978 | $2,323,765 | $2,287,590 | $9,809,663 | $9,160,844 | $7,849,312 |
Operating income | 330,330 | 247,763 | 231,602 | 301,817 | -424,856 | 137,401 | 175,375 | 192,606 | 1,111,512 | 80,526 | 4,057,146 |
Net income (loss) | 40,877 | 23,625 | -30,578 | 22,578 | -1,188,497 | -154,674 | -70,434 | -203,307 | 56,502 | -1,616,912 | 3,234,944 |
Net income (loss) attributable to MGM Resorts International | ($38,335) | ($31,859) | ($92,958) | $6,546 | ($1,223,827) | ($181,159) | ($145,452) | ($217,253) | ($156,606) | ($1,767,691) | $3,114,637 |
Basic income (loss) per share | ($0.08) | ($0.07) | ($0.19) | $0.01 | ($2.50) | ($0.37) | ($0.30) | ($0.44) | ($0.32) | ($3.62) | $6.37 |
Diluted income (loss) per share | ($0.08) | ($0.07) | ($0.19) | $0.01 | ($2.50) | ($0.37) | ($0.30) | ($0.44) | ($0.32) | ($3.62) | $5.62 |
Selected_Quarterly_Financial_R3
Selected Quarterly Financial Results - Additional Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 0 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | |||||||||||||
Jun. 30, 2013 | Dec. 31, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Jun. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2013 | Jun. 30, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2013 | Mar. 31, 2012 | Dec. 31, 2012 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | |
Borgata Trust [Member] | Borgata Trust [Member] | Borgata Trust [Member] | Corporate Buildings [Member] | Grand Victoria [Member] | Grand Victoria [Member] | Grand Victoria [Member] | Grand Victoria [Member] | Grand Victoria [Member] | Grand Victoria [Member] | Jean and Sloan, Nevada [Member] | CityCenter Holdings, LLC [Member] | CityCenter Holdings, LLC [Member] | CityCenter Holdings, LLC [Member] | CityCenter Holdings, LLC [Member] | CityCenter Holdings, LLC [Member] | CityCenter Holdings, LLC [Member] | Silver Legacy [Member] | Silver Legacy [Member] | Silver Legacy [Member] | South Jersey Transportation Authority special revenue bonds [Member] | South Jersey Transportation Authority special revenue bonds [Member] | North Las Vegas Strip Land [Member] | North Las Vegas Strip Land [Member] | Harmon [Member] | Harmon [Member] | Atlantic City Land [Member] | Atlantic City Land [Member] | |||||||
Residential Inventory [Member] | Residential Inventory [Member] | Residential Inventory [Member] | CityCenter Holdings, LLC [Member] | CityCenter Holdings, LLC [Member] | ||||||||||||||||||||||||||||||
SELECTED QUARTERLY FINANCIAL RESULTS (UNAUDITED) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Impairment charges on equity method investments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $37,000,000 | $85,000,000 | $37,000,000 | $85,000,000 | $36,607,000 | $85,009,000 | ' | ' | ' | ' | ' | ' | ' | ' | $22,966,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Impact of equity method investment impairment charges on diluted loss per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.05 | $0.11 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Asset impairment charges | 45,000 | ' | ' | ' | ' | ' | ' | ' | ' | 45,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Impact of real estate impairment charges on diluted loss per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.06 | ' | ' | ' | ' | ' | ' | $0.03 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.48 | ' | ' | ' | $0.20 | ' |
Real estate impairment charges | ' | ' | ' | 20,354,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 26,000,000 | ' | ' | ' | ' | 36,000,000 | 53,000,000 | ' | ' | ' | ' | ' | 366,000,000 | 366,406,000 | ' | ' | 167,000,000 | 166,569,000 |
Share of (gain) loss on retirement of debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 70,000,000 | 4,000,000 | ' | ' | ' | ' | -12,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Impact of loss on retirement of debt on diluted loss per share | ' | $0.67 | $0.08 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.09 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gain on retirement of debt, per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.02 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
(Gain) loss on retirement of long-term debt | ' | 505,000,000 | 59,000,000 | 3,801,000 | 563,292,000 | -717,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 70,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of ownership interests | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | 50.00% | 50.00% | 50.00% | ' | ' | ' | 50.00% | 50.00% | 50.00% | 50.00% | 50.00% | 50.00% | 50.00% | ' | 50.00% | ' | ' | ' | ' | 50.00% | 50.00% | ' | ' |
Impact of share of loss on retirement of debt on diluted earnings per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.01 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Real estate impairment charges of unconsolidated affiliates | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 18,000,000 | 18,000,000 | 26,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Impact of share of real estate impairment charges of unconsolidated affiliates on diluted loss per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.02 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share of demolition cost | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 16,000,000 | 16,000,000 | ' | ' |
Impact of share of demolition cost on diluted loss per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.02 | ' | ' | ' |
Impairment charges on cost method investments | ' | ' | ' | ' | ' | ' | 65,000,000 | 65,000,000 | 61,962,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Impact of cost method investment impairment charges on diluted loss per share | ' | ' | ' | ' | ' | ' | $0.09 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Impairment of owned investment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $47,000,000 | $47,000,000 | ' | ' | ' | ' | ' | ' |
Impact of impairment of investment holding on diluted earnings per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.06 | ' | ' | ' | ' | ' | ' | ' |
Schedule_II_Valuation_and_Qual1
Schedule II - Valuation and Qualifying Accounts (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Allowance for doubtful accounts [Member] | ' | ' | ' |
Movement in Valuation Allowances and Reserves [Roll Forward] | ' | ' | ' |
Balance at Beginning of Period | $97,911 | $101,207 | $93,760 |
Addition of MGM China | ' | ' | 40,741 |
Provision for Doubtful Accounts / Increase | 14,969 | 57,068 | 39,093 |
Write-offs, Net of Recoveries | -31,167 | -60,364 | -72,387 |
Balance at End of Period | 81,713 | 97,911 | 101,207 |
Deferred income tax valuation allowance [Member] | ' | ' | ' |
Movement in Valuation Allowances and Reserves [Roll Forward] | ' | ' | ' |
Balance at Beginning of Period | 1,093,398 | 72,001 | 35,724 |
Provision for Doubtful Accounts / Increase | 633,423 | 1,023,644 | 68,325 |
Decrease | -4,904 | -2,247 | -32,048 |
Balance at End of Period | $1,721,917 | $1,093,398 | $72,001 |