<SEC-DOCUMENT>0000789570-22-000029.txt : 20221025
<SEC-HEADER>0000789570-22-000029.hdr.sgml : 20221025
<ACCEPTANCE-DATETIME>20220922082404
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0000789570-22-000029
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20220922

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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<title>Document</title></head><body><div id="i2320e306c4a7498d906b28f8540cf4e9_1"></div><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div><font><br></font></div><div style="margin-bottom:24pt;text-align:center"><img alt="image_0.jpg" src="image_0.jpg" style="height:41px;margin-bottom:5pt;vertical-align:text-bottom;width:199px"></div><div style="margin-bottom:40pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">55 Hudson Yards &#124; New York, NY 10001-2163<br>T&#58;  212.530.5000<br>milbank.com</font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:100%;text-decoration:underline">VIA EDGAR</font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">September 22, 2022</font></div><div><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Frank Knapp</font></div><div><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Jennifer Monick</font></div><div><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Division of Corporation Finance</font></div><div><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Office of Real Estate &#38; Construction </font></div><div><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Securities and Exchange Commission</font></div><div><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">100 F Street, NE</font></div><div><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Washington, D.C. 20549</font></div><div style="margin-top:10.25pt;padding-left:44.75pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:100%">Re&#58;   MGM Resorts International</font></div><div style="margin-top:2.1pt;padding-left:72pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:133%">Form 10-K for the year ended December 31, 2021<br>Filed February 25, 2022</font></div><div style="margin-top:2.1pt;padding-left:72pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:133%">Form 8-K Filed August 3, 2022</font></div><div style="margin-top:0.05pt;padding-left:72pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:100%">File No. 001-10362</font></div><div style="margin-bottom:12pt;margin-top:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Dear Mr. Knapp and Ms. Monick&#58;</font></div><div style="margin-bottom:12pt;margin-top:0.05pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">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 September 19, 2022. The Commission&#8217;s letter set forth two specific comments (the &#8220;Comments&#8221;) on the Company&#8217;s Form 8-K filed August 3, 2022.</font></div><div style="margin-bottom:12pt;margin-top:0.05pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Set forth below are the Company&#8217;s responses to the Comments, 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 Comments, the original comments are included at the beginning of the response.</font></div><div style="margin-bottom:12pt;margin-top:3.45pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%;text-decoration:underline">Form 8-K filed August 3, 2022</font></div><div style="padding-right:15.4pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%;text-decoration:underline">Exhibit 99.1</font></div><div style="padding-right:15.4pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%;text-decoration:underline">Second Quarter 2022 Financial Highlights</font></div><div style="padding-right:15.4pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%;text-decoration:underline">Consolidated Results, page 2</font></div><div style="padding-left:0.08pt;padding-right:15.4pt"><font><br></font></div><div style="padding-left:0.08pt;padding-right:15.4pt"><font><br></font></div><div style="padding-left:0.08pt;padding-right:15.4pt"><font><br></font></div><div style="padding-left:0.08pt;padding-right:15.4pt"><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font style="color:#ffffff;font-family:'Times New Roman',sans-serif;font-size:5pt;font-weight:400;line-height:100%">41086.00000</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div style="padding-left:18pt;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:100%">1.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:100%;padding-left:9pt;text-decoration:underline">We note your disclosure that adjusted EBITDAR information is a valuation metric and</font></div><div style="padding-left:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:100%;text-decoration:underline">should not be used as an operating metric. We further note your presentation of</font></div><div style="padding-left:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:100%;text-decoration:underline">Adjusted EBITDAR margin. Please tell us what consideration you gave to your inclusion of this margin resulting in Adjusted EBITDAR also being viewed a measure of your operating performance.</font></div><div><font><br></font></div><div style="margin-bottom:12pt;padding-right:29.5pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">In future filings, the Company will revise its presentation to remove Adjusted EBITDAR margin.</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%;text-decoration:underline">Adjusted Diluted Earnings Per Share, page 3</font></div><div><font><br></font></div><div style="padding-left:18pt;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">2.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:100%;padding-left:9.5pt;text-decoration:underline">We note your adjustment for loss (gain) related to equity investments to arrive at adjusted diluted earnings per share. Please tell us the nature of this adjustment and how it is derived.</font></div><div><font><br></font></div><div style="margin-bottom:12pt;padding-right:5.7pt;text-indent:-0.1pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Loss (gain) related to equity investments reflects the net unrealized loss (gain) relating to equity investments for which the Company has elected the fair value option of ASC 825 and equity investments accounted for under ASC 321 for which there is a readily determinable fair value.</font></div><div style="margin-bottom:12pt;padding-right:5.7pt;text-indent:-0.1pt"><font><br></font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">If there are additional comments or questions, please do not hesitate to contact the undersigned at (212)&#160;530-5022.</font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Very truly yours,</font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#47;s&#47; Rod Miller</font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%"> _______________________</font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Rod Miller</font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Copies to&#58;&#160;&#160;&#160;&#160;William J. Hornbuckle</font></div><div style="padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Jonathan S. Halkyard</font></div><div style="padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">John M. McManus</font></div><div style="padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Todd Meinert</font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font style="color:#ffffff;font-family:'Times New Roman',sans-serif;font-size:5pt;font-weight:400;line-height:100%">41086.00000</font></div></div></div></body></html>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
