MGM Resorts is a publicly traded casino and hospitality company that owns and operates properties across the United States and internationally
MGM Resorts International is a for-profit corporation that owns casinos, hotels, and entertainment venues. The company trades on the New York Stock Exchange under the ticker symbol MGM. Unlike a government agency or nonprofit, MGM Resorts generates revenue by operating gambling floors, hotel rooms, restaurants, and entertainment venues, and it returns profits to shareholders.
The company operates properties in Las Vegas, Atlantic City, Detroit, Mississippi, and other locations, as well as international resorts in Macau and other markets. Each property functions as a separate business unit but operates under MGM's corporate policies, brand standards, and financial reporting structure.
If you are researching MGM Resorts as an investor, job candidate, customer, or for another reason, understanding how the company is structured and what it does will help you find the specific information you need.
Key Takeaways
- MGM Resorts is a publicly traded company, meaning you can buy shares of stock in it and its financial results are reported quarterly to the Securities and Exchange Commission.
- The company owns multiple casino and hotel properties under different brand names, including MGM Grand, Bellagio, and The Mirage, each with its own management team.
- MGM Resorts generates revenue primarily from casino gambling, hotel room rentals, food and beverage sales, and entertainment events.
- The company is subject to gaming regulations in each state and country where it operates, and must hold licenses from state gaming control boards.
- MGM Resorts has a corporate headquarters in Las Vegas and employs tens of thousands of people across all its properties.
How MGM Resorts Makes Money
MGM Resorts operates on a model where multiple revenue streams flow from each property. The casino floor generates the largest share of revenue through slot machines, table games, and sports betting. Hotel rooms, restaurants, bars, nightclubs, and ticketed entertainment events (concerts, shows, sporting events) each contribute additional revenue.
The company also generates money through conventions and group bookings, where businesses rent meeting space and hotel rooms for conferences. Retail shops, spas, and other amenities on the properties add smaller revenue streams.
Operating costs are substantial: MGM must pay employees, maintain buildings, purchase inventory, pay utilities, and comply with gaming regulations. The difference between revenue and costs becomes profit, which is distributed to shareholders or reinvested in the business.
MGM Resorts Properties and Brands
MGM Resorts does not operate under a single brand name. Instead, it owns multiple casino and hotel brands, each with its own identity and target market. MGM Grand in Las Vegas is one of the largest hotels in the United States. Bellagio is positioned as a luxury property. The Mirage, Mandalay Bay, New York-New York, and Luxor are other Las Vegas properties under MGM ownership.
Outside Las Vegas, MGM operates MGM National Harbor in Maryland, MGM Springfield in Massachusetts, properties in Atlantic City and Detroit, and resorts in Macau and other international locations. Each property operates under its own gaming license and is subject to the regulations of its state or country.
The company also holds a stake in BetMGM, an online sports betting and gaming platform that operates in states where online gambling is legal.
Ownership and Stock Structure
MGM Resorts is owned by its shareholders, who hold stock in the company. The largest shareholders include institutional investors such as mutual funds, pension funds, and investment firms. Individual investors can also own shares by purchasing them through a brokerage account.
The company has a Board of Directors that oversees management and sets corporate strategy. The Chief Executive Officer (CEO) runs day-to-day operations. Quarterly earnings reports are filed with the Securities and Exchange Commission (SEC) and are available to the public on the SEC's website (sec.gov) and on MGM Resorts' investor relations website.
Shareholders vote on major decisions at the company's annual meeting, such as the election of board members and approval of executive compensation.
Gaming Licenses and Regulatory Oversight
MGM Resorts cannot operate a casino without a gaming license from the state gaming control board in each jurisdiction where it operates. In Nevada, the Nevada Gaming Control Board oversees all casinos. In New Jersey, the New Jersey Division of Gaming Enforcement regulates Atlantic City properties. Each state has its own licensing process, background check requirements, and ongoing compliance rules.
Gaming regulators inspect properties, review financial records, and investigate any violations of gaming law. MGM must report suspicious activity, maintain records of large transactions, and comply with anti-money-laundering rules. Violations can result in fines, license suspension, or revocation.
MGM Resorts also operates under federal law, including the Bank Secrecy Act and anti-terrorism financing rules. International properties are subject to the gaming regulations of their host countries.
Employment and Labor Practices
MGM Resorts is one of the largest employers in Nevada and employs workers across housekeeping, food service, security, gaming, hospitality, and corporate functions. The company negotiates labor contracts with unions representing many of its workers, particularly in Las Vegas.
Wages, benefits, and working conditions are set through collective bargaining agreements or company policy. MGM publishes corporate responsibility reports that include information about employee compensation, diversity, and workplace safety.
If you are considering employment with MGM Resorts, you can view open positions on the company's careers website and learn about benefits, pay ranges, and job requirements for specific roles.
Financial Performance and Investor Information
MGM Resorts reports financial results quarterly and annually. These reports show revenue, operating expenses, net income, cash flow, and debt levels. The company's stock price fluctuates based on financial performance, industry conditions, and investor sentiment.
Investors can access MGM's financial statements, SEC filings, and earnings call transcripts through the company's investor relations website or through the SEC's EDGAR database. Annual reports (Form 10-K) and quarterly reports (Form 10-Q) contain detailed financial and operational information.
The company also pays dividends to shareholders in some years, though dividend payments are not may provide and depend on profitability and management decisions about how to use cash.
Frequently Asked Questions
How can I learn about MGM Resorts is hiring?
MGM Resorts posts open positions on its careers website, organized by property and job category. You can search by location and job type, and explore directly through the site. The company also recruits through job boards and career fairs.
Where can I find MGM Resorts' financial information?
MGM Resorts files quarterly and annual reports with the SEC, available on the SEC's EDGAR database (sec.gov) and on MGM's investor relations website. These documents contain detailed financial statements, management discussion, and risk factors.
What is MGM Resorts' stock ticker symbol?
MGM Resorts trades on the New York Stock Exchange under the ticker symbol MGM. You can view the current stock price and historical performance through any financial website or brokerage platform.
Does MGM Resorts operate casinos outside the United States?
Yes, MGM Resorts operates resorts in Macau and holds interests in other international properties. These properties are subject to the gaming regulations and laws of their host countries.
How does MGM Resorts comply with anti-money-laundering rules?
MGM Resorts must report large cash transactions, monitor for suspicious activity, and maintain records as required by the Bank Secrecy Act and other federal laws. Gaming regulators in each state also enforce anti-money-laundering compliance.