A Brief History of MGM Resorts International (MGM)

MGM Resorts International, originally known as MGM Grand Inc., is a global hospitality and entertainment giant. The company has its roots in the famous Metro-Goldwyn-Mayer (MGM) film studio. Founded in 1986 as a subsidiary, it eventually became a separate entity, focusing on hotel and casino operations.

Below is a timeline of notable events in the company's history:

• 1986: MGM Grand Inc. is established as a subsidiary of the MGM film studio.
• 1993: The MGM Grand Hotel and Casino opens in Las Vegas, becoming one of the largest hotels in the world.
• 2000: MGM Grand Inc. acquires Mirage Resorts, significantly expanding its portfolio with properties like The Mirage and Bellagio.
• 2005: The company undergoes a name change to MGM Mirage, reflecting its broader scope and ambition.
• 2010: MGM Mirage rebrands itself as MGM Resorts International, emphasizing its global reach and diversification.
• 2018: The company launches MGM Growth Properties, a real estate investment trust (REIT), to manage its property assets.
• 2020: MGM Resorts International begins to focus heavily on digital and online gaming markets, adapting to changing consumer preferences.

Today, MGM Resorts International operates numerous iconic properties worldwide, including some of the most famous casinos and hotels in Las Vegas, such as the MGM Grand, Bellagio, and Mandalay Bay. The company is a major player in the hospitality industry, known for its luxurious accommodations, world-class entertainment, and extensive gaming options.

Who Owns MGM Resorts International (MGM)

MGM Resorts International (MGM) is a publicly traded company, meaning its ownership is spread across a variety of individual and institutional shareholders. It is listed on the New York Stock Exchange under the ticker symbol "MGM."

The ownership structure of MGM Resorts International is diverse and includes major shareholders, institutional investors, and individual shareholders. Here are some key points about its ownership:

• Institutional Investors: A significant portion of MGM's shares are owned by institutional investors such as mutual funds, pension funds, and hedge funds. These entities often hold large blocks of shares and thereby exert considerable influence over the company's strategic decisions.
• Top Major Shareholders:
  • BlackRock, Inc.: One of the largest asset management firms in the world, BlackRock holds a substantial stake in MGM Resorts International.
  • Vanguard Group: Another major institutional investor, Vanguard Group also owns a significant percentage of MGM's outstanding shares.
• Executive Leadership and Board Members: Executives and board members of MGM Resorts International typically hold shares in the company, aligning their interests with those of shareholders.
• Individual Investors: Individual retail investors also own shares in MGM Resorts International, although their collective impact is generally smaller compared to institutional stakeholders.

Overall, the ownership of MGM Resorts International is characterized by a mix of large institutional investors and a variety of other smaller shareholders, both individual and corporate.

MGM Resorts International (MGM) Mission Statement

MGM Resorts International is a global entertainment company known for its world-class hotels, casinos, and entertainment venues. The company's mission statement emphasizes its commitment to providing unparalleled experiences, embracing diversity, and contributing positively to society. Below are the key elements of MGM's mission statement:

• Deliver Exceptional Entertainment: MGM Resorts aims to offer entertainment experiences that captivate and delight guests, creating memorable moments that resonate long after their visit.
• Customer-Centric Approach: The company is dedicated to putting customers at the center of everything it does. This means anticipating needs, exceeding expectations, and ensuring satisfaction at every touchpoint.
• Innovation and Excellence: MGM Resorts strives for continuous innovation and excellence in its services, operations, and offerings. The goal is to stay ahead of industry trends and set new standards for quality and creativity.
• Diversity and Inclusion: Embracing a diverse and inclusive workforce is a core value for MGM. The company believes that diversity enriches the workplace and enhances the guest experience.
• Sustainability and Responsibility: MGM Resorts is committed to sustainability and responsible business practices. The organization works to minimize its environmental impact and contribute to the communities in which it operates.
• Employee Development: Investing in employee growth and development is crucial. The company provides opportunities for learning, advancement, and achieving personal and professional goals.
• Community Engagement: MGM Resorts takes an active role in community engagement, supporting various social causes, and fostering strong relationships with local organizations and stakeholders.

These principles guide MGM Resorts International in its mission to be a leader in the entertainment and hospitality industry, ensuring that every interaction embodies the company's values and commitment to excellence.

How MGM Resorts International (MGM) Works

MGM Resorts International (MGM) is a global hospitality and entertainment conglomerate based in Las Vegas, Nevada. The company operates a portfolio of iconic resort and casino properties, and its business model revolves around several key components:

• Resort and Casino Operations: MGM owns and operates a multitude of world-renowned resorts and casinos, such as the MGM Grand, Bellagio, and Mandalay Bay. These properties are equipped with luxury accommodations, gaming facilities, dining options, and entertainment venues.
• Entertainment: The company collaborates with top-tier entertainment producers to host an array of live performances, concerts, and shows. This includes exclusive residencies by prominent artists, theatrical productions, and sporting events.
• Hospitality Services: MGM places a strong emphasis on providing exceptional customer service. This includes high-end amenities, spa services, and top-notch dining experiences, often in collaboration with celebrity chefs.
• Convention and Meeting Spaces: MGM’s properties feature extensive spaces for conferences, conventions, and business meetings, making them popular choices for corporate events and trade shows.
• Online Gaming and Sports Betting: The company has expanded into online gaming and sports betting through partnerships and acquisitions, offering online platforms that complement their physical casino operations.
• Corporate Social Responsibility: MGM is committed to sustainability and community engagement through its corporate social responsibility programs. Initiatives include green building practices, renewable energy use, and charitable activities.

Revenue Streams: MGM’s revenue derives from multiple streams including gaming, hotel bookings, food and beverage sales, entertainment ticket sales, and retail.

Technology Integration: The company leverages advanced technology to enhance customer experiences and streamline operations. Mobile apps, AI-driven services, and digital payment systems are some of the technologies employed.

How MGM Resorts International (MGM) Makes Money

MGM Resorts International (MGM) is a global entertainment company that operates a diverse portfolio of destination resort brands. The company's revenue streams are multifaceted and come from a variety of sources. Below are the main ways MGM generates income:

• Gaming: One of the primary revenue streams for MGM is its gaming operations. This includes both casino games and online gaming platforms. The company’s casinos offer a range of gaming options including slot machines, table games, and sports betting.
• Hospitality: MGM owns and operates a number of hotels and resorts. Revenue from hospitality is derived from room bookings, food and beverage services, and other hotel-related services. Luxury amenities and top-tier service help to attract both business and leisure travelers.
• Entertainment: MGM is renowned for its entertainment offerings, which include world-class shows, concerts, and sporting events. Revenue in this category comes from ticket sales, sponsorships, and partnerships with entertainment companies.
• Retail and Dining: The resorts feature a variety of retail shops and dining establishments. Revenue from retail and dining includes sales from luxury boutiques, souvenir shops, and a range of dining experiences from casual eateries to fine dining restaurants.
• Meetings and Conventions: MGM properties are equipped with facilities to host meetings, conventions, and large-scale events. Income from hosting these events includes space rental fees, catering services, and accommodation packages for attendees.
• Real Estate: MGM also earns money through its real estate operations. This includes leasing commercial space within its properties and engaging in real estate development and investment activities.

Each of these revenue streams contributes to MGM's overall financial health, enabling the company to sustain its operations and expand its portfolio of properties and services.