MGM Resorts International

Is MGM Resorts publicly traded?

Yes. MGM Resorts International trades on the NYSE under ticker MGM. Founder Kirk Kerkorian's estate has fully exited, leaving dispersed institutional ownership.

What casinos does MGM own?

On the Las Vegas Strip: Bellagio, MGM Grand, Mandalay Bay, The Cosmopolitan, Aria, Luxor, Excalibur, New York-New York, and Park MGM. Regionally it owns Borgata, MGM Grand Detroit, Beau Rivage, and others, plus MGM Macau and MGM Cotai in China.

Does MGM own BetMGM?

BetMGM is a 50/50 joint venture between MGM Resorts and Entain. It turned profitable in 2025 with $2.8 billion of net revenue and began distributing cash to both parents.

Is MGM building a casino in Japan?

Yes. MGM broke ground on MGM Osaka, Japan's first integrated resort, with partners including Orix. It is expected to be the largest integrated resort in the world when completed.

Kirk Kerkorian, a Las Vegas land speculator, built the company through a series of record-setting deals: the International Hotel in 1969, the original MGM Grand in 1973, and repeated buy-and-sell cycles around the city's biggest properties. The corporate vehicle became MGM Grand Inc. in 1986 and MGM Mirage in 2000 after acquiring Steve Wynn's Mirage Resorts, adding Bellagio, Treasure Island, and The Mirage.

The 2005 acquisition of Mandalay Resort Group consolidated Mandalay Bay, Luxor, Excalibur, and Circus Circus under one roof, cementing MGM's position as the dominant Strip landlord. The company nearly collapsed in the 2008-2009 financial crisis, saved by a debt restructuring and the completion of the $9 billion CityCenter project, which delivered Aria and Vdara.

The 2010s brought the BetMGM launch with Entain in 2018, the $1.6 billion acquisition of The Cosmopolitan's operations in 2022, and the LeoVegas purchase for its international digital business. The October 2017 mass shooting at its Mandalay Bay property, the deadliest in modern U.S. history, produced $800 million in settlements and a lasting security-policy reckoning.

Fiscal 2025 reflected a normalized Las Vegas market: consolidated net revenues of $17.5 billion, adjusted EBITDA of $2.4 billion, and a BetMGM turnaround that added $220 million of EBITDA and began the first cash distributions to parents. MGM China posted record results, and the company broke ground on MGM Osaka in Japan.

MGM publishes annual social impact reporting covering its Focused on What Matters platform, water stewardship at desert properties, emissions reduction with a 2030 target, and workforce programs for its 69,000 employees. It has invested in large-scale solar for Strip operations and LEED-certified new construction. Responsible gaming programs are mandated by its licenses.

MGM properties hold extensive Forbes Travel Guide star ratings, with Bellagio, Aria, and MGM Cotai regularly earning five-star and four-star awards. The company appears on Fortune's Most Admired Companies list in the casinos and resorts category and on best-employer lists for hospitality.

The October 1, 2017 mass shooting from a Mandalay Bay suite remains the company's defining tragedy, producing $800 million in victim settlements and lasting scrutiny of hotel security policies. MGM paid a $45 million settlement in 2020 for a 2019 data breach affecting 10.6 million guests, and a 2023 cyberattack that shut down operations for days drew an SEC disclosure and a Nevada Gaming Control Board fine.

Labor relations with the Culinary Workers Union produced a 2023 strike authorization resolved with a new contract. Macau operations face the structural risk of Chinese regulatory policy on gaming licenses and VIP junkets.