MGM Resorts
- Founded
- 1986-01-01 in Paradise, Nevada, United States
- Headquarters
- Paradise, Nevada, United States
MGM Resorts International is one of the world’s leading global hospitality and entertainment companies, operating a portfolio of 31 unique hotel and gaming destinations across the United States, Macau, and Asia. Headquartered in Paradise, Nevada, the company was founded in 1986 by billionaire Kirk Kerkorian as MGM Grand, Inc., and rebranded as MGM Resorts International in 2010. Its resorts include iconic Las Vegas Strip properties such as Bellagio, MGM Grand, Mandalay Bay, and Park MGM, as well as regional casinos in Michigan, Mississippi, Maryland, New Jersey, Ohio, and Massachusetts. Through its majority-owned subsidiary MGM China Holdings, the company operates MGM Macau and MGM Cotai. In the digital space, MGM owns BetMGM (a joint venture with Entain) and LeoVegas, and it manages the industry-leading MGM Rewards loyalty programme. With annual revenues of approximately $17.2 billion (2024) and a workforce of about 63,000 employees, MGM Resorts is the largest casino company in the world by revenue. Its corporate structure also includes a 26.1% ownership stake held by People Incorporated (formerly IAC). The company trades on the New York Stock Exchange under the ticker MGM.
Detailed Review
History & Evolution
MGM Resorts traces its lineage to 1969, when Kirk Kerkorian opened the International Hotel in Las Vegas. The MGM Grand brand launched in 1973 with the opening of the original MGM Grand Hotel and Casino (now Horseshoe Las Vegas). The modern corporate entity was formed in 1986 as Grand Name Co., then renamed MGM Grand, Inc. in 1987. A defining moment came in 2000 when MGM Grand acquired Mirage Resorts for $6.4 billion, becoming the world’s largest gaming company and adopting the name MGM Mirage. The acquisition of Mandalay Resort Group in 2005 for $7.9 billion added Mandalay Bay, Luxor, and other properties. In 2010, shareholders voted to rename the company MGM Resorts International. The 2015 corporate split created MGM Growth Properties (a real estate investment trust) and repositioned MGM Resorts as an operator. The company shifted further into digital gaming with the launch of BetMGM in 2020 and the acquisition of LeoVegas in 2022.
Operations & Segments
MGM Resorts reports its business through four segments: Las Vegas Strip Resorts (Bellagio, Mandalay Bay, MGM Grand, Park MGM, Luxor, New York-New York, Excalibur, Circus Las Vegas, The Cosmopolitan of Las Vegas, Aria, Vdara); Regional Operations (MGM Grand Detroit, Beau Rivage, Gold Strike Tunica, Borgata, MGM National Harbor, MGM Springfield, MGM Northfield Park – sold in April 2026); MGM China (MGM Macau, MGM Cotai); and MGM Digital (BetMGM, LeoVegas). The company also owns 50% of the CityCenter development in Las Vegas, which includes Aria and Vdara.
Financials
For the fiscal year 2024, MGM Resorts reported consolidated net revenues of $17.2 billion, operating income of $1.49 billion, and net income of $747 million. Total assets stood at $42.4 billion. In the first quarter of 2026, consolidated net revenues reached a record $4.5 billion, driven by MGM China and MGM Digital performance. The company’s balance sheet has been strengthened through asset sales (e.g., MGM Northfield Park for $546 million in April 2026) and share repurchase programmes.
Products, Platforms & Brands
- BetMGM: A leading US sports betting and iGaming platform, jointly owned with Entain, operating in multiple states and recently renewing partnerships with Major League Baseball. - LeoVegas: A Swedish and Malta-based online casino and sportsbook brand acquired in 2022, serving international markets. - MGM Rewards: The company’s omnichannel loyalty programme, relaunched in partnership with Loyalty Methods, integrated with Marriott Bonvoy and covering gaming, dining, entertainment, and spas. - GameSense: A responsible gaming programme licensed from the British Columbia Lottery Corporation, deployed across physical and digital channels. - MGM Collection: A brand umbrella for hotel and resort properties under management. - StayNTouch Mobile Platform: A cloud-based mobile check-in/check-out system deployed across all Las Vegas properties. - Bloomfire Knowledge Base: An enterprise search tool used by customer support agents across 12 properties. - MGM China: Two integrated resorts in Macau (MGM Macau and MGM Cotai) offering gaming, hotels, and entertainment. - Diaoyutai MGM Hospitality: A joint venture with Diaoyutai State Guesthouse for luxury resort development in Asia.
Regulatory & Licensing
MGM Resorts holds gaming licences in Nevada, Michigan, Mississippi, Maryland, New Jersey, Ohio, Massachusetts, Macau, and several US states for online sports betting and iGaming. It is subject to stringent regulatory oversight by state gaming control boards and the Macau government.
Key Products
BetMGM
US sports betting & iGaming platform (joint venture with Entain)
LeoVegas
International online casino & sportsbook brand
MGM Rewards
Cross-property loyalty programme with Marriott Bonvoy integration
MGM China
Two Macau integrated resorts (MGM Macau, MGM Cotai)
MGM Grand Las Vegas
Flagship Las Vegas Strip mega-resort
Bellagio
Luxury resort & casino on the Strip
Mandalay Bay
Convention-focused resort with arena
Park MGM
Mid-market resort formerly Monte Carlo
Aria Resort & Casino
Modern luxury property in CityCenter
The Cosmopolitan
Boutique resort (acquired 2024)
Borgata
Atlantic City flagship casino
MGM National Harbor
Washington D.C. area resort
MGM Springfield
Massachusetts casino resort
MGM Northfield Park
Ohio racinos (sold 2026)
CityCenter
50% ownership of mixed-use development (Aria, Vdara)
Diaoyutai MGM Hospitality
Joint venture for luxury resorts in China
MGM Collection
Branded hotel management programme
GameSense
Responsible gaming programme (licensed from BCLC)
StayNTouch Mobile
Mobile check-in platform across all Las Vegas properties
Bellagio
Luxury resort and casino on the Las Vegas Strip, known for its fountain show, fine dining, and high-end gaming.
MGM Grand
One of the largest hotel-casinos in the world, featuring 6,852 rooms, extensive casino floor, and entertainment venues.
Mandalay Bay
Resort and casino on the Las Vegas Strip with a convention center, shark reef aquarium, and beach-style pool.
ARIA Resort & Casino
AAA Five Diamond luxury resort in Las Vegas CityCenter, known for modern design, high-limit gaming, and fine dining.
The Mirage
Iconic Las Vegas resort with a volcano attraction, dolphin habitat, and extensive gaming space.
BetMGM
Sports betting and iGaming platform operating in multiple U.S. states and Canadian provinces; a 50/50 joint venture with Entain.
LeoVegas
European online casino and sportsbook brand, part of MGM Resorts' digital subsidiary.
partypoker
Online poker brand integrated with BetMGM in North America and operated separately in Europe.
Vdara Hotel & Spa
AAA Four Diamond all-suites hotel and spa on the Las Vegas Strip, part of CityCenter.
Offices & Headcount
63000 employees (approx.)
Key Persons
Sean McCormackExecutive Director of Poker Strategy and Development
Bill HornbucklePresident & CEO
Ayesha MolinoChief Operating Officer
William J. HornbuckleChief Executive Officer and President
Jonathan HalkyardCFO & Treasurer
Kirk KerkorianFounder
- Bill Hornbuckle
President & Chief Executive Officer
- Jonathan Halkyard
Chief Financial Officer & Treasurer
- Kirk Kerkorian
Founder (deceased)
KJ AminChief of Staff to the President & CEO
Notable past members
- Bill Hornbuckle — Chief Marketing Officer
- William J. Hornbuckle — Chief Marketing Officer
- Bill Hornbuckle — Acting Chief Executive Officer and President
- William J. Hornbuckle — Acting Chief Executive Officer and President
- William J. Hornbuckle — Chief Operating Officer
- Bill Hornbuckle — Chief Operating Officer
- Barry Diller — Director
Recent News
Venetian's $7.2M Bowyer Fine Caps Decade of Las Vegas Sands Scandals as Apollo Inherits Liability
The Venetian will pay a $7.2 million fine to Nevada regulators for AML failures tied to illegal bookmaker Mathew Bowyer, bringing total Bowyer-related penalties for Strip operators to $34 million and highlighting a series of scandals that plagued Las Vegas Sands before its 2021 exit from the market.
2026-07-14
MGM Forms Special Committee as Diller Takeover Talks Intensify
MGM Resorts has formed a special committee and hired advisers to evaluate Barry Diller's $12.4 billion takeover bid as talks advance, though the board considers the $48.30-per-share offer too low and no deal is guaranteed.
2026-07-14
Josh Mammen Captures BetMGM Poker Championship After Five-Way Deal at Final Table
Josh Mammen won the BetMGM Poker Championship at ARIA Las Vegas, defeating Erik Eisen heads-up after a five-way chip deal among the top five finishers. The tournament surpassed its $4 million guarantee, with Mammen earning $481,180 and six online qualifiers cashing.
2026-07-13
Tom Light Named to 2026 Emerging Leaders of Gaming 40 Under 40 List
Tom Light, founder and CEO of FIRST.bet, has been named to the Emerging Leaders of Gaming 40 Under 40 Class of 2026, selected from a record 250-plus nominations. The honor follows his Individual Achievement Award at the EGR Awards 2026 and underscores his company's growth to over 500 employees and focus on localized sportsbook solutions.
2026-07-13
Venetian hit with $7.2m fine over Bowyer AML failures, becomes fourth Strip casino penalized
The Venetian faces a $7.2 million fine for anti-money laundering violations tied to convicted bookmaker Mathew Bowyer, becoming the fourth Las Vegas Strip casino penalized in the case. The settlement includes admission of wrongdoing and enhanced AML conditions, with combined fines from all four operators reaching $34 million.
2026-07-10
AGA Reveals Gaming Hall of Fame Class of 2026, Honoring Four Industry Visionaries
The American Gaming Association (AGA) has announced the four distinguished inductees for its 2026 Gaming Hall of Fame class: Holly Gagnon, Bill G. Lance Jr., Scott Olive, and Timothy J. "Tim" Wilmott. These industry leaders are being recognized for their significant and diverse contributions across commercial, tribal, and supplier segments of the legal gaming industry, with a formal induction ceremony set for this fall at G2E in Las Vegas.
2026-07-08