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SEGMENT INFORMATION
9 Months Ended
Sep. 30, 2022
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
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: Aria (including Vdara) (upon acquisition in September 2021), Bellagio, The Cosmopolitan (upon acquisition in May 2022), 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, and Park MGM (including NoMad Las Vegas).

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; and MGM Northfield Park in Northfield Park, Ohio.

MGM China. MGM China consists of MGM Macau and MGM Cotai.

The Company’s operations related to LeoVegas (upon acquisition in September 2022), investments in unconsolidated affiliates, 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.

Adjusted Property EBITDAR is the Company’s reportable segment GAAP measure, which management utilizes 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, property transactions, net, gain on REIT transactions, net, rent expense related to triple-net operating leases and ground leases, income from unconsolidated affiliates related to investments in real estate ventures, and also excludes gain on consolidation of CityCenter, net, gain related to CityCenter’s sale of Harmon land recorded within income from unconsolidated affiliates, 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 eliminated in consolidation.
The following tables present the Company’s segment information:
 Three Months Ended
September 30,
Nine Months Ended
September 30,
 202220212022 2021
 (In thousands)
Net revenue
Las Vegas Strip Resorts
Casino$575,868 $422,541 $1,549,690 $1,008,108 
Rooms735,653 403,010 1,916,949 846,053 
Food and beverage599,846 308,522 1,544,886 614,572 
Entertainment, retail and other389,655 246,894 1,089,565 461,766 
2,301,022 1,380,967 6,101,090 2,930,499 
Regional Operations
Casino721,192 719,630 2,159,010 2,024,149 
Rooms84,754 70,766 211,780 160,269 
Food and beverage115,432 92,148 312,621 211,661 
Entertainment, retail and other, and reimbursed costs52,557 42,579 141,022 96,677 
973,935 925,123 2,824,433 2,492,756 
MGM China
Casino70,325 252,445 422,476 784,984 
Rooms6,989 16,683 30,472 47,585 
Food and beverage7,703 15,808 36,084 50,323 
Entertainment, retail and other2,469 4,123 9,841 13,152 
87,486 289,059 498,873 896,044 
Reportable segment net revenues3,362,443 2,595,149 9,424,396 6,319,299 
Corporate and other53,629 112,390 110,873 303,949 
 $3,416,072 $2,707,539 $9,535,269 $6,623,248 
Adjusted Property EBITDAR
Las Vegas Strip Resorts$846,355 $534,548 $2,265,256 $1,039,472 
Regional Operations 321,984 348,234 975,113 908,564 
MGM China(70,410)6,996 (148,157)20,352 
Reportable segment Adjusted Property EBITDAR1,097,929 889,778 3,092,212 1,968,388 
 
Other operating income (expense)
Corporate and other, net(148,120)(124,745)(552,265)(368,713)
Preopening and start-up expenses(396)(1,547)(1,372)(1,642)
Property transactions, net 11,639 (3,677)(23,704)(842)
Depreciation and amortization(1,405,520)(279,403)(2,060,413)(853,579)
Gain on REIT transactions, net— — 2,277,747 — 
Gain on consolidation of CityCenter, net— 1,562,329 — 1,562,329 
Triple-net operating lease and ground lease rent expense(604,193)(191,622)(1,350,099)(570,851)
Gain related to sale of Harmon land - unconsolidated affiliate— — — 49,755 
Income from unconsolidated affiliates related to real estate ventures2,690 41,669 59,162 125,007 
Operating income (loss)(1,045,971)1,892,782 1,441,268 1,909,852 
Non-operating income (expense)
Interest expense, net of amounts capitalized(125,172)(200,049)(457,822)(598,116)
Non-operating items from unconsolidated affiliates(995)(23,421)(22,248)(67,473)
Other, net(14,316)(49,241)(23,322)70,302 
(140,483)(272,711)(503,392)(595,287)
Income (loss) before income taxes(1,186,454)1,620,071 937,876 1,314,565 
Benefit (provision) for income taxes125,367 (282,135)(411,131)(222,263)
Net income (loss)(1,061,087)1,337,936 526,745 1,092,302 
Less: Net loss attributable to noncontrolling interests484,257 12,497 662,346 31,055 
Net income (loss) attributable to MGM Resorts International$(576,830)$1,350,433 $1,189,091 $1,123,357