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MGM Resorts International
MGM Resorts International operates iconic Las Vegas Strip properties and diversifies into entertainment, sports betting, and global resort management.
MGM Resorts International
MGM Resorts International traces its roots to 1986 when Kirk Kerkorian spun off the MGM Grand hotel-casino from MGM/UA Entertainment. Bill Hornbuckle, the current CEO and a 20-year company veteran, has led the firm since 2020 when he succeeded Jim Murren. The wealth origin is corporate enterprise, financed through public markets and Kerkorian's legacy. Strategy focuses on destination resort management rather than casino gaming alone. The company owns and operates over 20 properties in Las Vegas, including the Bellagio, MGM Grand, and The Cosmopolitan, as well as regional assets in Maryland, Mississippi, and other US states. MGM increasingly expands into entertainment programming, from concerts and sports betting to collaborations with the NBA and F1. Geographic exposure is heavily US-centric. MGM employs roughly 56,000 people (per public filings). The firm sold its real estate assets in a sale-leaseback structure with VICI Properties in 2022, spinning off a $44 billion real estate investment trust. In 2023, MGM opened a $7.4 billion integrated resort in Osaka, Japan — a first for the Asian market. The recent activity of note: October 2023: MGM opened its $7.4B Osaka integrated resort, marking its first property in Japan. MGM's structural differentiator is its operating-company-plus-REIT separation: MGM operates the resorts while VICI Properties holds the land, allowing MGM to focus on hospitality management without capital-intensive real estate burdens. This structure, combined with its sports betting platform through BetMGM, positions MGM as a hybrid entertainment conglomerate rather than a pure casino operator.
General information
Firm type
Corporation
Year founded
1986
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Las Vegas
Corporate office
Las Vegas, NV, United States
Principals
Bill Hornbuckle
CEO and President (since 2020)
Jonathan Halkyard
CFO and Treasurer
Sector focus
Frequently asked questions
Who runs investment decisions at MGM Resorts International?
CEO Bill Hornbuckle and CFO Jonathan Halkyard lead capital allocation and strategic direction. The company's board guides major investments like property development and M&A.
Does MGM primarily own real estate or operate resorts?
MGM operates the resorts. In 2022, it sold its portfolio of real estate assets to VICI Properties in a sale-leaseback, becoming a pure operating company.
How does MGM fund new resort development?
MGM funds through operating cash flow, public debt markets, and joint ventures. The Osaka project was partly financed through loans and partners, per public reports.
What investment stages does MGM typically target?
MGM targets large-scale resort developments (greenfield and acquisitions), as well as growth investments in digital sports betting and entertainment platforms.
Is MGM involved in sports betting?
Yes, through BetMGM, a joint venture with Entain that holds US market access and online sportsbook licenses.
Where does MGM generate most of its revenue?
Las Vegas Strip properties generate the majority, supplemented by regional US resorts and international properties (Macau until 2024).
How does MGM's structure differ from other casino operators?
MGM operates without owning most of its real estate, via a sale-leaseback with VICI Properties — a structure that minimizes cost of capital and focuses on hospitality execution.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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