The Company’s management views each of its casino resorts as an operating segment. Operating segments are aggregated based on their similar economic characteristics, types of customers, types of services and products provided, the regulatory environments in which they operate and their management and reporting structure. The Company has aggregated its operating segments into the following reportable segments: Las Vegas Strip Resorts, Regional Operations and MGM China.

Las Vegas Strip Resorts. Las Vegas Strip Resorts consists of the following casino resorts: Bellagio, MGM Grand Las Vegas (including The Signature), Mandalay Bay (including Delano and Four Seasons), The Mirage, Luxor, New York-New York (including The Park), Excalibur, Park MGM (including NoMad Las Vegas) and Circus Circus Las Vegas (until the sale of such property in December 2019).

Regional Operations. Regional Operations consists of the following casino resorts: MGM Grand Detroit in Detroit, Michigan; Beau Rivage in Biloxi, Mississippi; Gold Strike Tunica in Tunica, Mississippi; Borgata in Atlantic City, New Jersey; MGM National Harbor in Prince George’s County, Maryland; MGM Springfield in Springfield, Massachusetts; Empire City in Yonkers, New York (upon acquisition in January 2019); and MGM Northfield Park in Northfield Park, Ohio (upon MGM’s acquisition of the operations from MGP in April 2019).

The Company’s operations related to investments in unconsolidated affiliates, MGM Northfield Park (prior to April 1, 2019 as the operations were owned by MGP until that date), and certain other corporate operations and management services have not been identified as separate reportable segments; therefore, these operations are included in “Corporate and other” in the following segment disclosures to reconcile to consolidated results.

As a result of the Bellagio transaction in the fourth quarter of 2019, the Company records rent expense associated with the triple-net operating lease with Bellagio BREIT Venture. In order to present profit and loss of each reportable segment on a similar economic basis, the rent expense associated with the triple-net operating leases and ground leases is added back within the financial information reviewed by the chief operating decision maker and as presented below, including recasting of prior year periods.

The Company’s management utilizes Adjusted Property EBITDAR as the primary profit measure for its reportable segments and underlying operating segments. Adjusted Property EBITDAR is a measure defined as earnings before interest and other non-operating income (expense), taxes, depreciation and amortization, preopening and start-up expenses, gain on REIT transactions, net, restructuring costs (which represents costs related to severance, accelerated stock compensation expense, and consulting fees directly related to the operating model component of the MGM 2020 Plan), rent expense associated with triple-net operating and ground leases, income from unconsolidated affiliates related to investments in real estate ventures, and property transactions, net, and also excludes corporate expense and stock compensation expense, which are not allocated to each operating segment, and rent expense related to the master lease with MGP that eliminates in consolidation.

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2020			2019			2020			2019
	(In thousands)
Net revenue
Las Vegas Strip Resorts
Casino	$	63,028		$	308,183		$	337,701		$	632,887
Rooms		26,105			469,736			388,969			938,588
Food and beverage		21,026			389,773			309,789			755,295
Entertainment, retail and other		40,652			298,652			248,158			567,762
		150,811			1,466,344			1,284,617			2,894,532
Regional Operations
Casino		77,177			653,948			613,807			1,228,104
Rooms		4,181			81,454			60,060			153,252
Food and beverage		4,314			123,870			99,406			241,749
Entertainment, retail and other		3,592			51,681			41,651			91,793
		89,264			910,953			814,924			1,714,898
MGM China
Casino		23,284			633,179			263,698			1,296,744
Rooms		1,335			35,313			16,544			68,877
Food and beverage		4,431			30,909			17,211			61,622
Entertainment, retail and other		4,148			6,688			7,632			13,050
		33,198			706,089			305,085			1,440,293
Reportable segment net revenues		273,273			3,083,386			2,404,626			6,049,723
Corporate and other		16,536			139,857			138,000			350,431
	$	289,809		$	3,223,243		$	2,542,626		$	6,400,154
Adjusted Property EBITDAR
Las Vegas Strip Resorts	$	(104,447	)	$	418,339		$	163,152		$	821,990
Regional Operations		(112,085	)		260,788			39,635			472,585
MGM China		(116,288	)		172,803			(138,278	)		365,614
Reportable segment Adjusted Property EBITDAR		(332,820	)		851,930			64,509			1,660,189

Other operating income (expense)
Corporate and other		(159,342	)		(87,606	)		(261,579	)		(148,137	)
Preopening and start-up expenses		82			(879	)		(40	)		(4,166	)
Property transactions, net		(26,349	)		(5,790	)		(81,324	)		(14,566	)
Gain on REIT transactions, net		—			—			1,491,945			—
Depreciation and amortization		(299,206	)		(334,788	)		(617,496	)		(651,202	)
CEO transition expense		—			—			(44,401	)		—
October 1 litigation settlement		(49,000	)		—			(49,000	)		—
Restructuring		(19,882	)		(42,990	)		(19,882	)		(84,088	)
Triple-net operating lease and ground lease rent expense		(189,567	)		(8,392	)		(331,485	)		(16,285	)
Income from unconsolidated affiliates related to real estate ventures		41,555			—			65,069			—
Operating income (loss)		(1,034,529	)		371,485			216,316			741,745
Non-operating income (expense)
Interest expense, net of amounts capitalized		(156,756	)		(215,829	)		(313,893	)		(431,949	)
Non-operating items from unconsolidated affiliates		(23,761	)		(21,477	)		(56,382	)		(39,642	)
Other, net		8,321			(46,276	)		(115,943	)		(44,583	)
		(172,196	)		(283,582	)		(486,218	)		(516,174	)
Income (loss) before income taxes		(1,206,725	)		87,903			(269,902	)		225,571
Benefit (provision) for income taxes		270,238			(11,734	)		7,934			(83,245	)
Net income (loss)		(936,487	)		76,169			(261,968	)		142,326
Less: Net (income) loss attributable to noncontrolling interests		79,230			(32,764	)		211,580			(67,624	)
Net income (loss) attributable to MGM Resorts International	$	(857,257	)	$	43,405		$	(50,388	)	$	74,702