<SEC-DOCUMENT>0001564590-20-040604.txt : 20200918
<SEC-HEADER>0001564590-20-040604.hdr.sgml : 20200918
<ACCEPTANCE-DATETIME>20200819090021
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001564590-20-040604
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20200819

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MGM Resorts International
		CENTRAL INDEX KEY:			0000789570
		STANDARD INDUSTRIAL CLASSIFICATION:	HOTELS & MOTELS [7011]
		IRS NUMBER:				880215232
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		3600 LAS VEGAS BLVD S
		CITY:			LAS VEGAS
		STATE:			NV
		ZIP:			89109
		BUSINESS PHONE:		702-693-7120

	MAIL ADDRESS:	
		STREET 1:		3600 LAS VEGAS BLVD S.
		CITY:			LAS VEGAS
		STATE:			NV
		ZIP:			89109

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MGM MIRAGE
		DATE OF NAME CHANGE:	20000823

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MGM GRAND INC
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GRAND NAME CO
		DATE OF NAME CHANGE:	19870713
</SEC-HEADER>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<p style="text-align:center;margin-bottom:24pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><img src="gbh2zvhcf3wg000001.jpg" title="" alt="" style="width:199px;height:41px;"></p>
<p style="margin-bottom:40pt;text-align:center;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">55 Hudson Yards | New York, NY 10001-2163<br />T:<font style="letter-spacing:0.05pt;">  </font>212.530.5000<br />milbank.com</p>
<p style="margin-bottom:18pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><font style="text-decoration:underline;">VIA EDGAR</font></p>
<p style="margin-bottom:18pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">August 19, 2020</p>
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Shannon Menjivar</p>
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Jeffrey Lewis</p>
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Division of Corporation Finance</p>
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Office of Real Estate &amp; Construction </p>
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Securities and Exchange Commission</p>
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">100 F Street, NE</p>
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Washington, D.C. 20549</p>
<p style="margin-top:10pt;margin-bottom:0pt;margin-left:9.56%;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Re:<font style="margin-left:36pt;"></font>MGM Resorts International</p>
<p style="margin-top:2pt;margin-bottom:0pt;margin-left:15.38%;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Form 10-K for the year ended December 31, 2019<br />Filed February 27, 2020</p>
<p style="margin-top:0pt;margin-bottom:0pt;margin-left:15.38%;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">File No. 001-10362</p>
<p style="margin-bottom:12pt;margin-top:12pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Dear Ms. Menjiver and Mr. Lewis:</p>
<p style="margin-bottom:12pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Enclosed for filing with the Securities and Exchange Commission on behalf of MGM Resorts International (the &#8220;Company&#8221;) is the Company&#8217;s response to your letter dated August 14, 2020. The Commission&#8217;s letter set forth a specific comment (the &#8220;Comment&#8221;) on the Company&#8217;s Form&#160;10-K&#160;for the year ended December 31, 2019.</p>
<p style="margin-bottom:12pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Set forth below is the Company&#8217;s response to the Comment, which the Company has requested the undersigned submit to you on its behalf. For purposes of facilitating the Staff&#8217;s review of the Company&#8217;s responses to the Comment, the original comment is included at the beginning of the response.</p>
<p style="margin-bottom:12pt;margin-top:3pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="text-decoration:underline;">Form 10-K for the year ended December 31, 2019</font></p>
<p style="margin-bottom:12pt;margin-top:3pt;margin-right:3.21%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="text-decoration:underline;">Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations</font> <font style="text-decoration:underline;">Adjusted EBITDAR , page 37</font></p>
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<p style="margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">1.</font></p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;"><font style="text-decoration:underline;">We note your presentation of Adjusted EBITDAR and that management uses Adjusted</font></p></td></tr></table></div>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><font style="text-decoration:underline;">Property EBITDAR as the primary profit measure for your reportable segments. Please</font></p>
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;color:#FFFFFF;font-size:5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">41086.00000</p>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><a name="_AEIOULastRenderedPageBreakAEIOU2"></a><font style="text-decoration:underline;">note the presentation of the total segment profit or loss measure in any context </font><font style="text-decoration:underline;">other than</font></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><font style="text-decoration:underline;">the ASC 280 required reconciliation in the footnote is considered a presentation of a non-</font></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><font style="text-decoration:underline;">GAAP financial measure. In future filings, please revise your presentation accordingly.</font></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><font style="text-decoration:underline;">Refer to Question 104.04 of the Compliance &amp; Disclosure Interpretations for Non-GAAP</font></p>
<p style="margin-bottom:12pt;margin-top:0pt;margin-right:6.2%;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><font style="text-decoration:underline;">Financial Measures.</font></p>
<p style="margin-bottom:12pt;margin-top:0pt;margin-right:6.2%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In future filings, the Company will revise its presentation of Adjusted EBITDAR to remove the subtotal of its reportable segments&#8217; Adjusted Property EBITDAR.</p>
<p style="margin-bottom:12pt;margin-top:0pt;margin-right:6.2%;text-indent:0%;font-size:12pt;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;"><a name="_Hlk46229941"></a>&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="text-decoration:underline;">Non-GAAP Measures , page 40</font></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><font style="text-decoration:underline;">2. We note your response to comment 1. In future filings, please limit your presentation of</font></p>
<p style="margin-bottom:12pt;margin-top:0pt;margin-right:1.07%;text-indent:-0.02%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><font style="text-decoration:underline;">Adjusted EBITDAR to the most current period presented.</font></p>
<p style="margin-bottom:12pt;margin-top:0pt;margin-right:1.07%;text-indent:-0.02%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_Hlk48303850"></a>In future filings, the Company will revise its presentation of Adjusted EBITDAR to present an Adjusted EBITDAR total only for the most current period.</p>
<p style="margin-bottom:12pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<p style="margin-bottom:12pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">If there are additional comments or questions, please do not hesitate to contact the undersigned at (212)&#160;530-5022.</p>
<p style="margin-bottom:12pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Very truly yours,</p>
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<p style="margin-bottom:12pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">/s/ Rod Miller</p></td>
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<p style="margin-bottom:12pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Rod Miller</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Copies to:</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">William J. Hornbuckle</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Corey Sanders</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">John M. McManus</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Robert C. Selwood</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.69%;"><font style="margin-left:36pt;"></font>&nbsp;</p>
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;color:#FFFFFF;font-size:5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">41086.00000</p></body>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
