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SEGMENT INFORMATION
 3 Months Ended
Mar. 31, 2023
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
The Company’s management views each of its casino properties 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 in Las Vegas, Nevada: Aria (including Vdara), Bellagio, The Cosmopolitan (upon its acquisition in May 2022), MGM Grand Las Vegas (including The Signature), Mandalay Bay (including Delano and Four Seasons), The Mirage (until its disposition in December 2022), 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 properties: MGM Grand Detroit in Detroit, Michigan; Beau Rivage in Biloxi, Mississippi; Gold Strike Tunica in Tunica, Mississippi (until its disposition in February 2023); 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 its 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, 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 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
March 31,
 2023 2022
 (In thousands)
Net revenue
Las Vegas Strip Resorts
Casino$500,563 $475,298 
Rooms751,691 485,288 
Food and beverage582,627 384,276 
Entertainment, retail and other341,271 318,030 
2,176,152 1,662,892 
Regional Operations
Casino716,977 703,679 
Rooms67,304 56,114 
Food and beverage111,879 91,138 
Entertainment, retail and other, and reimbursed costs49,683 39,898 
945,843 890,829 
MGM China
Casino555,272 231,203 
Rooms29,493 15,671 
Food and beverage27,625 17,441 
Entertainment, retail and other5,202 4,060 
617,592 268,375 
Reportable segment net revenues3,739,587 2,822,096 
Corporate and other133,709 32,213 
 $3,873,296 $2,854,309 

Three Months Ended
March 31,
20232022
(In thousands)
Adjusted Property EBITDAR
Las Vegas Strip Resorts$835,809 $593,634 
Regional Operations 313,175 313,279 
MGM China168,948 (25,656)
Reportable segment Adjusted Property EBITDAR1,317,932 881,257 
 
Other operating income (expense)
Corporate and other, net(211,669)(210,853)
Preopening and start-up expenses(139)(434)
Property transactions, net 396,076 (54,738)
Depreciation and amortization(203,501)(288,638)
Triple-net operating lease and ground lease rent expense(570,555)(262,452)
Income from unconsolidated affiliates related to real estate ventures2,695 41,646 
Operating income730,839 105,788 
Non-operating income (expense)
Interest expense, net of amounts capitalized(130,300)(196,091)
Non-operating items from unconsolidated affiliates(1,184)(15,133)
Other, net46,307 34,302 
(85,177)(176,922)
Income (loss) before income taxes645,662 (71,134)
Benefit (provision) for income taxes(165,779)36,341 
Net income (loss)479,883 (34,793)
Less: Net (income) loss attributable to noncontrolling interests(13,076)16,777 
Net income (loss) attributable to MGM Resorts International$466,807 $(18,016)