|Exchange:||New York Stock Exchange|
|Stock:||MGM Resorts International|
|Industry:||Resorts & Casinos|
|MGM Resorts International was formerly known as MGM Mirage. It was originally organized as MGM Grand, Inc. on January 29, 1986 and is a Delaware corporation. The Company acts as a holding company and its operations are conducted through its wholly-owned subsidiaries. The Company is engaged in the gaming and resort operations. It mainly owns and operates casino resorts, which includes offering gaming, hotel, dining, entertainment, retail and other resort amenities. The Company has two reportable segments that are based on the regions in which it operates: wholly owned domestic resorts and MGM China: it is currently operates 15 wholly owned resorts in the United States. 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 pursuant to which it acquired an additional 1% interest in MGM China and thereby became the owner of 51% of MGM China. MGM China’s operations consist of the MGM Macau resort and casino. Over half of the net revenue from its wholly owned domestic resorts is derived from non-gaming activities, including hotel, food and beverage, entertainment and other non-gaming amenities; MGM China operations relate to MGM Macau resort and casino. Revenues at MGM Macau are generated primarily from gaming operations made up of two distinct market segments: main floor and high-end ('VIP'). The Company owns and operates the following casino resorts in Las Vegas, Nevada: Bellagio, MGM Grand Las Vegas, Mandalay Bay, The Mirage, Luxor, New York-New York, Excalibur, Monte Carlo, Circus Circus Las Vegas and Slots-A-Fun. 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. The Company has a 50% investment in Silver Legacy in Reno, which is adjacent to Circus Circus Reno. The Company also owns Shadow Creek; an exclusive world-class golf course located approximately ten miles north of its Las Vegas Strip resorts, and Primm Valley Golf Club at the California/Nevada state line. The Company has 50% interests in three resorts outside of Nevada - MGM Grand Macau, Grand Victoria and Borgata. The Company is a 50% owner of CityCenter, a mixed-use development on the Las Vegas Strip, between Bellagio and Monte Carlo. It owns additional land adjacent to Borgata, a portion of which consists of common roads, landscaping and master plan improvements, a portion of which is being utilized for an expansion of Borgata, and a portion of which is planned for a wholly-owned development, MGM Grand Atlantic City. The Company advertises on radio, television and billboards and in newspapers and magazines in selected cities throughout the United States and overseas, as well as on the Internet and by direct mail. The Company's casino resorts generally operate in highly competitive environments. It competes against other gaming companies as well as other hospitality and leisure and business travel companies. The Company's businesses are subject to various federal, state and local laws and regulations in addition to gaming regulations. Each of its casinos is subject to regulation under the laws, rules and regulations of the jurisdiction where it is located.|
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