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v3.23.2

SEGMENT INFORMATION (Tables) | 6 Months Ended
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Jun. 30, 2023
Segment Reporting [Abstract] |
Schedule of Segment Information | The following tables present the Company’s segment information:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
| (In thousands)
Net revenue |  |  |  |  |  |  |
Las Vegas Strip Resorts |  |  |  |  |  |  |
Casino | $ | 492,212 |  |  | $ | 498,524 |  |  | $ | 992,775 |  |  | $ | 973,822 |
Rooms | 706,715 |  |  | 696,008 |  |  | 1,458,406 |  |  | 1,181,296 |
Food and beverage | 598,771 |  |  | 560,764 |  |  | 1,181,398 |  |  | 945,040 |
Entertainment, retail and other | 348,952 |  |  | 381,880 |  |  | 690,223 |  |  | 699,910 |
| 2,146,650 |  |  | 2,137,176 |  |  | 4,322,802 |  |  | 3,800,068 |
Regional Operations |  |  |  |  |  |  |
Casino | 679,430 |  |  | 734,139 |  |  | 1,396,407 |  |  | 1,437,818 |
Rooms | 76,929 |  |  | 70,912 |  |  | 144,233 |  |  | 127,026 |
Food and beverage | 111,491 |  |  | 106,051 |  |  | 223,370 |  |  | 197,189 |
Entertainment, retail and other, and reimbursed costs | 58,250 |  |  | 48,567 |  |  | 107,933 |  |  | 88,465 |
| 926,100 |  |  | 959,669 |  |  | 1,871,943 |  |  | 1,850,498 |
MGM China |  |  |  |  |  |  |
Casino | 669,658 |  |  | 120,948 |  |  | 1,224,930 |  |  | 352,151 |
Rooms | 31,679 |  |  | 7,812 |  |  | 61,172 |  |  | 23,483 |
Food and beverage | 32,973 |  |  | 10,940 |  |  | 60,598 |  |  | 28,381 |
Entertainment, retail and other | 6,645 |  |  | 3,312 |  |  | 11,847 |  |  | 7,372 |
| 740,955 |  |  | 143,012 |  |  | 1,358,547 |  |  | 411,387 |
Reportable segment net revenues | 3,813,705 |  |  | 3,239,857 |  |  | 7,553,292 |  |  | 6,061,953 |
Corporate and other | 128,502 |  |  | 25,031 |  |  | 262,211 |  |  | 57,244 |
| $ | 3,942,207 |  |  | $ | 3,264,888 |  |  | $ | 7,815,503 |  |  | $ | 6,119,197 |
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
| (In thousands)
Adjusted Property EBITDAR |  |  |  |  |  |  |
Las Vegas Strip Resorts | $ | 776,529 |  |  | $ | 825,267 |  |  | $ | 1,612,338 |  |  | $ | 1,418,901 |
Regional Operations | 293,767 |  |  | 339,850 |  |  | 606,942 |  |  | 653,129 |
MGM China | 209,389 |  |  | (52,091) |  |  | 378,337 |  |  | (77,747) |
Reportable segment Adjusted Property EBITDAR | 1,279,685 |  |  | 1,113,026 |  |  | 2,597,617 |  |  | 1,994,283 |
Other operating income (expense) |  |  |  |  |  |  |
Corporate and other, net | (137,578) |  |  | (193,292) |  |  | (349,247) |  |  | (404,145) |
Preopening and start-up expenses | (149) |  |  | (542) |  |  | (288) |  |  | (976) |
Property transactions, net | (5,614) |  |  | 19,395 |  |  | 390,462 |  |  | (35,343) |
Depreciation and amortization | (203,503) |  |  | (366,255) |  |  | (407,004) |  |  | (654,893) |
Gain on REIT transactions, net | — |  |  | 2,277,747 |  |  | — |  |  | 2,277,747 |
Triple-net operating lease and ground lease rent expense | (564,158) |  |  | (483,454) |  |  | (1,134,713) |  |  | (745,906) |
Income from unconsolidated affiliates related to real estate ventures | 2,695 |  |  | 14,826 |  |  | 5,390 |  |  | 56,472 |
Operating income | 371,378 |  |  | 2,381,451 |  |  | 1,102,217 |  |  | 2,487,239 |
Non-operating income (expense) |  |  |  |  |  |  |
Interest expense, net of amounts capitalized | (111,945) |  |  | (136,559) |  |  | (242,245) |  |  | (332,650) |
Non-operating items from unconsolidated affiliates | (441) |  |  | (6,120) |  |  | (1,625) |  |  | (21,253) |
Other, net | 23,693 |  |  | (43,308) |  |  | 70,000 |  |  | (9,006) |
| (88,693) |  |  | (185,987) |  |  | (173,870) |  |  | (362,909) |
Income before income taxes | 282,685 |  |  | 2,195,464 |  |  | 928,347 |  |  | 2,124,330 |
Provision for income taxes | (39,141) |  |  | (572,839) |  |  | (204,920) |  |  | (536,498) |
Net income | 243,544 |  |  | 1,622,625 |  |  | 723,427 |  |  | 1,587,832 |
Less: Net (income) loss attributable to noncontrolling interests | (42,748) |  |  | 161,312 |  |  | (55,824) |  |  | 178,089 |
Net income attributable to MGM Resorts International | $ | 200,796 |  |  | $ | 1,783,937 |  |  | $ | 667,603 |  |  | $ | 1,765,921 |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-25 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
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