MGM Resorts International

What MGM Resorts International does

MGM Resorts International is a NYSE-listed (ticker: MGM) global hospitality and entertainment company headquartered in Las Vegas, founded in 1973 and operating approximately 70,000 employees in the Las Vegas area. The company runs 14 Las Vegas Strip properties spanning luxury (Bellagio, ARIA, The Cosmopolitan of Las Vegas, Park MGM, W Las Vegas) to value (Luxor, Excalibur, New York-New York); seven regional U.S. casino resorts across Maryland, Michigan, Massachusetts, New York, Mississippi, and New Jersey (after the April 2026 sale of MGM Northfield Park for $546 million); and a 56% controlling stake in MGM China Holdings, which operates MGM Macau and MGM Cotai integrated resorts. MGM holds a 40% interest in the MGM Osaka integrated resort in Japan, a ~$10 billion project in partnership with ORIX Corporation targeted to open in autumn 2030.

The core operating technology stack spans property management systems (Opera PMS), casino management systems, the BetMGM online sportsbook and iGaming platform (a 50/50 joint venture with Entain Plc that generated $183 million in Q1 2026 revenue, up 43% YoY), and the MGM Rewards loyalty platform integrated with Marriott Bonvoy, Royal Caribbean, Celebrity Cruises, and Southwest Airlines for point exchange. AI is deployed at a basic level for AML compliance, counterfeit document detection, and responsible-gaming flagging under new Nevada AML regulations enacted April 2025. The technology differentiator is interoperability — BetMGM co-branded MLB-themed casino games and MGM Rewards cross-property point earn/redemption — rather than core AI capability.

MGM makes money from seven revenue streams: casino gaming (slot machines, table games, poker, sports betting) on the Las Vegas Strip, regional casinos, and Macau; hotel and lodging across 14 Strip properties; ticketed entertainment (Cirque du Soleil shows, residencies, the 50/50 T-Mobile Arena JV with AEG); food and beverage across 300+ restaurants; meetings and conventions (record Q1 2026 convention ADR); retail, spa, golf, and attraction admissions; MGM China operations; and MGM Digital (BetMGM). Q1 2026 consolidated net revenue was $4.5 billion (record, +4% YoY), with the segment mix roughly 72% Las Vegas Strip, 25% MGM China, and 4% Digital. Pricing is shifting from Las Vegas's traditional layered-fee (resort fee, parking) model toward all-inclusive packages starting at $330/person at Luxor/Excalibur, while loyalty tiers (Pearl through Icon) deliver up to 45% off room rates to MGM Rewards members. The go-to-market is direct-to-consumer across physical casino floors, owned websites and mobile apps (mgmresorts.com), BetMGM's app, and a corporate group sales team for conventions; demand is generated through MGM Rewards, sports league sponsorships (MLB, NFL, NBA, NHL, UFC), and seasonal promotional campaigns. As of June 2026, Barry Diller's People Inc. holds a 26.1% stake and has submitted a non-binding proposal to acquire the remaining shares at $48.30/share, valuing MGM at approximately $18 billion enterprise value and potentially taking the company private.

Name

MGM Resorts International

Legal name

MGM Resorts International

Website

https://mgmresorts.com

Company type

Public

Founded year

1973

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

MGM Resorts International is a Las Vegas-headquartered global hospitality and entertainment company operating 14 Las Vegas Strip resorts, seven U.S. regional casinos, two Macau integrated resorts via 56%-owned MGM China, a 40% stake in the upcoming MGM Osaka integrated resort, and the BetMGM digital sportsbook JV with Entain, serving leisure travelers, premium and budget-conscious tourists, convention groups, and digital sports bettors.

Ownership category

akta.pro rank

Product category

Integrated Resort and Casino Operations

akta.pro primary industry

Integrated Casino Resorts (THAGAJAA)

Keywords

• Casino gaming operations
• Integrated resort hospitality
• Hotel and lodging services
• Online sports betting
• Live entertainment venues

Headquarters

HQ city

Las Vegas

HQ country

United States

HQ region

North America

Offices17 records

Markets served

GTM type

B2C

Offering type

Services

Revenue model

1. Gaming Revenue: Core casino gaming revenue from slot machines, table games (including baccarat), poker, race and sports betting across Las Vegas Strip properties, regional casinos, MGM China (Macau and Cotai), and online via BetMGM. Las Vegas Strip casino revenue was approximately $2.2 billion for Q1 2026 (segment EBITDAR $749 million).
2. Hotel & Lodging Revenue: Room revenue from 14 Las Vegas Strip properties plus regional U.S. resorts, including Bellagio, ARIA, MGM Grand, Mandalay Bay, Luxor, Excalibur, and others. Revenue is driven by occupancy rates and average daily rates, supported by convention and group business. Las Vegas Strip lodging generated approximately $2.2 billion in revenue for Q1 2026.
3. Entertainment Revenue: Revenue from ticketed shows and concerts at venues including the MGM Grand Garden Arena, T-Mobile Arena (joint venture), Dolby Live, and other theaters. Shows include Cirque du Soleil productions ('O', Michael Jackson ONE, KÀ), residencies (New Kids on the Block, Mary J. Blige), and third-party concert bookings. Also includes venue rentals for events.
4. Food & Beverage Revenue: Revenue from over 300 restaurants, bars, nightclubs, dayclubs, and pool bars across MGM properties. Includes celebrity chef venues (PRIME Steakhouse, Din Tai Fung, CATCH), casual dining, room service, and catering for conventions and events.
5. MGM China Operations: 56% stake in MGM China Holdings, operating MGM Macau and MGM Cotai integrated resorts in Macau. MGM China generated approximately $1.12 billion in revenue for Q1 2026, up 9% year-over-year, contributing significantly to consolidated results.
6. MGM Digital (BetMGM): Digital gaming revenue from the 50/50 BetMGM joint venture with Entain, covering online sports betting and iGaming. MGM Digital segment generated $183 million in Q1 2026, up 43% year-over-year. BetMGM is an official sports betting partner of MLB and integrated resort partner of MGM Resorts.
7. Meetings & Conventions Revenue: Revenue from convention and group meeting spaces across MGM properties, including citywide events hosting tens of thousands of attendees. MGM reported record first-quarter convention average daily rates and catering/banquet revenue in Q1 2026, supported by events like CES and CONEXPO-CON/AGG.
8. Retail, Spa & Other Amenities: Revenue from spas, salons, golf courses (Fallen Oak, Paiute Golf Resort), shopping (The Shops at Bellagio, MGMShops.com), art galleries (Bellagio Gallery of Fine Art), and attraction admissions (Shark Reef Aquarium, Titanic Exhibition).

Pricing tiers

Go-to-market motion1 record

Distribution channels9 records

Marketing channels10 records

Core offering

No source content was provided in the input to describe MGM Resorts International's core offerings.

Product overview

MGM Resorts International operates a diversified global entertainment company with a portfolio spanning Las Vegas Strip resorts (Bellagio, ARIA, MGM Grand, Mandalay Bay, Luxor, Excalibur, Park MGM, The Cosmopolitan of Las Vegas, New York-New York, Vdara, Signature at MGM Grand, W Las Vegas, The Reserve at Park MGM), regional U.S. casino resorts (MGM National Harbor in Maryland, MGM Grand Detroit in Michigan, MGM Springfield in Massachusetts, Beau Rivage in Mississippi, Borgata in New Jersey, Empire City Casino in New York), and international operations (MGM Macau and MGM Cotai in China, and MGM Osaka in Japan under development). The company generates revenue through gaming, hotels, entertainment venues (T-Mobile Arena, Dolby Live, MGM Grand Garden Arena), restaurants, nightlife, retail, meetings and conventions, and golf. Digital products include BetMGM (50/50 sportsbook joint venture with Entain), MGM Rewards loyalty program (with Marriott Bonvoy, Royal Caribbean, Southwest Airlines partnerships), MGM Resorts Vacations packages, LeoVegas and myVegas slots gaming, and the GameSense responsible gaming program. Entertainment products feature Cirque du Soleil shows ('O', KÀ, Michael Jackson ONE, Mad Apple), the Bellagio Fountains, the Bellagio Conservatory, and Shark Reef Aquarium. The company also operates Tailgate Beach Club at Mandalay Bay and the inaugural Drink Las Vegas food and beverage festival. All-inclusive vacation packages at Luxor and Excalibur represent a new pricing model.

Differentiator

Problem solved

Functional benefit

Brands

• MGM Rewards: The company's loyalty and rewards program offering points for gaming, hotel stays, dining, and entertainment across MGM properties.
• BetMGM
• All-Inclusive Experience
• MGM Resorts Vacations
• MGM Rewards Credit Cards

Quantifiable outcome

• Record Q1 2026 consolidated net revenue of $4.5 billion, up 4% year-over-year
• +6 more outcomes

Named customers7 records

Segments7 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

AI capability2 records

Feature3 records

Partnerships

Ten partnerships are on record, tiered core and minor.

• Major League Baseball (MLB)coreGTM or Marketing Partner · 23 June 2026MGM Resorts International and BetMGM renewed their multi-year partnerships with Major League Baseball, extending an eight-year relationship that began in 2018 when they became MLB's first Official Gaming and Sports Betting Partners. MGM Resorts continues as MLB's exclusive Integrated Resort & Casino Partner while BetMGM maintains marketing access as MLB's official sports betting partner across U.S. and Canadian markets. The agreements cover marketing rights, hospitality activations, fan engagement through MLB Network, MLB.com, Apple TV content, and co-branded casino games. Both parties emphasized responsible gaming initiatives including GameSense programs. The renewals underscore the growing maturity of long-term strategic collaborations between sports rights holders and gaming operators.
• a21 (Drink Las Vegas Festival Producer)minorStrategic or Co-development Partner · 20 May 2026MGM Resorts International partnered with experiential event agency a21 to produce the inaugural Drink Las Vegas, a four-day food and beverage festival scheduled for September 24-27 across 30+ Las Vegas Strip venues including ARIA, Bellagio, The Cosmopolitan of Las Vegas, and Park MGM. The event features world-renowned chefs, mixologists, and sommeliers across tastings, panel discussions, and VIP dining experiences. A portion of proceeds benefit Keep Memory Alive for brain disorder research at Cleveland Clinic Nevada.
• Clique Hospitality (Tailgate Beach Club)minorStrategic or Co-development Partner · 16 May 2026Clique Hospitality, founded by Andy Masi, operates Tailgate Beach Club at Mandalay Bay as a 50,000-square-foot sports and pop culture dayclub concept. The venue features three heated pools, over 125 feet of LED screens, 25 luxury cabanas, accommodates up to 2,000 guests, and is positioned as a destination for major sporting and cultural events year-round. It opened May 16, 2026 with a Snoop Dogg performance and athlete appearances (George Kittle, Nick Bosa, Tony Hawk).
• Entain Plc (BetMGM Joint Venture)coreStrategic or Co-development PartnerBetMGM is a 50/50 joint venture between MGM Resorts International and Entain Plc, operating legal online sports betting and iGaming across permitted U.S. states and Canada. MGM Digital (which includes BetMGM) generated $183 million in Q1 2026 revenue, up 43% year-over-year. BetMGM leverages Entain's technology platform combined with MGM's brand, loyalty infrastructure, and sports league partnerships to drive customer acquisition and retention. The JV structure positions both MGM and Entain to benefit from the growth of legal U.S. sports betting and iGaming markets.
• Marriott International (Marriott Bonvoy)coreGTM or Marketing PartnerMGM Rewards has a preferred partnership with Marriott Bonvoy allowing members to exchange BetMGM Rewards points for Marriott Bonvoy points, and vice versa. This cross-loyalty program connects MGM's Las Vegas-centric rewards ecosystem with Marriott's global hotel network of 30+ brands. The partnership allows MGM to access Marriott's massive loyalty member base for Las Vegas visitation and positions Las Vegas vacations as part of a broader travel portfolio. Joint sweepstakes promotions (e.g., 'World's Game Sweepstakes' with Marriott Bonvoy) drive engagement across both platforms.
• Royal Caribbean International and Celebrity CruisesminorGTM or Marketing PartnerMGM Rewards has a preferred partnership with Royal Caribbean International and Celebrity Cruises, allowing members to earn and redeem MGM Rewards points on cruise bookings and related experiences. This extends MGM's loyalty ecosystem beyond Las Vegas to cruise vacations, broadening the rewards value proposition.
• Southwest AirlinesminorGTM or Marketing PartnerMGM Rewards maintains a preferred partnership with Southwest Airlines, enabling members to earn MGM Rewards points on Southwest flights and potentially redeem points for Las Vegas travel. This partnership supports drive-market and fly-market visitor acquisition for MGM's Las Vegas properties.
• ORIX Corporation (MGM Osaka Joint Venture)coreStrategic or Co-development PartnerMGM Resorts holds a 40% stake in MGM Osaka, with ORIX Corporation holding the remaining 60% in a joint venture developing Japan's first major integrated resort. The $10 billion project is slated to open in autumn 2030 and is projected by J.P. Morgan to generate $1.5 billion in annual EBITDA and over $600 million in free cash flow at maturity. Truist estimates the project could generate $2 billion in annual EBITDA. MGM Resorts Japan (established December 2014) serves as the cornerstone of the company's Japan development efforts, operating currently through a Tokyo and Osaka presence.
• Diaoyutai State Guesthouse of China (Diaoyutai MGM Hospitality)minorStrategic or Co-development PartnerDiaoyutai MGM Hospitality is a joint venture between Diaoyutai State Guesthouse of China and MGM Resorts International, operating best-in-class non-casino hotels, residences, retail facilities, and entertainment destinations in China under the 'Combine to Innovate' ethos. Properties include MGM Grand Sanya, MGM Shanghai West Bund, MGM Qingdao, MGM Shenzhen, Bellagio Shanghai, Mhub by MGM Nanjing Jiangning, Diaoyutai Boutique Hotel Chengdu, and Diaoyutai Qingdao. This platform leverages MGM's brand in China without requiring gaming licenses.
• Grupo Globo / Boa Lion (Brazil Joint Venture)minorStrategic or Co-development PartnerMGM Resorts International and Grupo Globo's joint venture Boa Lion agreed to acquire Brazil-based bingo developer Bingão do Brasil from L.Eva Participações and other investors for an undisclosed sum. The deal requires approval from Brazil's competition regulator CADE and would allow MGM and Globo to expand their local presence and enhance BetMGM offerings with premium bingo products following Brazil's recent legalization of gambling.

Scale indicators25 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Caesars Entertainment: Caesars is MGM's closest direct competitor, operating a similarly large portfolio of Las Vegas Strip and regional U.S. casino properties (alongside a competing digital sportsbook in Caesars Sportsbook). It is the most relevant peer for benchmarking Strip market share, operating margins, and the ongoing Las Vegas M&A consolidation narrative.
• Wynn Resorts: Wynn operates luxury integrated resorts in Las Vegas (Wynn/Encore) and Macau (Wynn Macau, Wynn Palace), competing head-to-head with MGM in the high-end Las Vegas and Macau segments. Wynn's premium-mass Macau positioning makes it the cleanest read-through for MGM China's performance.
• Las Vegas Sands: Sands is the largest Macau operator (Venetian Macao, Parisian Macao, Sands Macao, Plaza Casino) and previously operated The Venetian and Palazzo on the Las Vegas Strip (now divested). It is a key comp for MGM's Macau segment economics and integrated-resort capital intensity.
• Boyd Gaming: Boyd operates a portfolio of regional U.S. casino resorts across ~10 states, directly comparable to MGM's regional portfolio (MGM National Harbor, MGM Grand Detroit, Borgata, Beau Rivage, Empire City, MGM Springfield). Boyd is a key read on regional gaming demand and FanDuel partnership economics.
• Penn Entertainment: Penn operates ~40 regional U.S. casino properties and the ESPN BET digital sportsbook (a BetMGM competitor). The regional portfolio overlap and the ESPN BET vs. BetMGM digital competition make Penn a direct peer for both land-based and online gaming economics.
• Red Rock Resorts: Red Rock (Station Casinos / Fertitta Entertainment) operates Las Vegas locals casinos, overlapping with MGM's Las Vegas drive-market and regional segments. Relevant for benchmarking Vegas locals gaming trends and the Fertitta/Caesars M&A discussion that is part of the broader Las Vegas consolidation.
• DraftKings: DraftKings is one of BetMGM's two principal U.S. online sports betting and iGaming competitors. The head-to-head comparison on customer acquisition cost, state share, and margin trajectory is the key read for BetMGM's digital growth and profitability path.
• Flutter Entertainment: Flutter owns FanDuel, the U.S. online sports betting and iGaming market leader and BetMGM's largest direct competitor. Flutter is the primary benchmark for BetMGM's U.S. digital market share, marketing intensity, and path to profitability.

Regional players

• Galaxy Entertainment Group: Galaxy is one of Macau's six concessionaires (Galaxy Macau, StarWorld, Broadway Macau) and competes with MGM Macau and MGM Cotai. It is a key read on Macau market share dynamics and integrated-resort operating leverage in the China region.
• Melco Resorts & Entertainment: Melco operates City of Dreams and Studio City in Macau plus City of Dreams Manila and the Cyprus integrated resort, making it a relevant comp for MGM China's premium-mass positioning, Macau EBITDA margin trends, and Asia diversification.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/MGMResortsIntl
• Facebookfacebook.com/mgmresorts
• LinkedInlinkedin.com/company/1075291

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries4 records

Funding overview

Funding rounds4 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A3 records

Investments5 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about MGM Resorts International