XML 38 R26.htm IDEA: XBRL DOCUMENT
v3.25.1

SEGMENT INFORMATION (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2025
Segment Reporting [Abstract] |
Schedule of Segment Information |
| Three Months Ended March 31,
| 2025 |  | 2024
Net revenue | (In thousands)
Las Vegas Strip Resorts |  |  |
Casino | $ | 538,259 |  |  | $ | 497,548 |
Rooms | 750,049 |  |  | 827,253 |
Food and beverage | 586,039 |  |  | 599,281 |
Entertainment, retail and other | 301,773 |  |  | 330,947 |
| 2,176,120 |  |  | 2,255,029 |
Regional Operations |  |  |
Casino | 671,975 |  |  | 684,968 |
Rooms | 66,725 |  |  | 65,933 |
Food and beverage | 109,081 |  |  | 107,753 |
Entertainment, retail and other | 52,638 |  |  | 50,825 |
| 900,419 |  |  | 909,479 |
MGM China |  |  |
Casino | 895,852 |  |  | 920,048 |
Rooms | 46,634 |  |  | 63,215 |
Food and beverage | 75,053 |  |  | 62,369 |
Entertainment, retail and other | 9,933 |  |  | 10,385 |
| 1,027,472 |  |  | 1,056,017 |
MGM Digital |  |  |
Casino | 128,058 |  |  | 127,608 |
Reportable segment net revenues | 4,232,069 |  |  | 4,348,133 |
Corporate and other | 45,013 |  |  | 35,337 |
| $ | 4,277,082 |  |  | $ | 4,383,470 |
| Three Months Ended March 31,
| 2025 |  | 2024
Expenses | (In thousands)
Las Vegas Strip Resorts |  |  |
Payroll related | $ | 661,746 |  |  | $ | 643,583 |
Cost of sales | 127,757 |  |  | 135,188 |
Gaming taxes | 59,210 |  |  | 57,944 |
Other segment items(1) | 516,247 |  |  | 590,526 |
| 1,364,960 |  |  | 1,427,241 |
Regional Operations |  |  |
Payroll related | 228,947 |  |  | 227,238 |
Cost of sales | 37,214 |  |  | 39,344 |
Gaming taxes | 184,714 |  |  | 185,996 |
Other segment items(1) | 170,502 |  |  | 182,799 |
| 621,377 |  |  | 635,377 |
MGM China |  |  |
Payroll related | 145,208 |  |  | 133,166 |
Cost of sales | 27,500 |  |  | 22,350 |
Gaming taxes | 448,776 |  |  | 478,319 |
Other segment items(1) | 120,423 |  |  | 120,996 |
| 741,907 |  |  | 754,831 |
MGM Digital |  |  |
Payroll related | 29,537 |  |  | 20,369 |
Marketing costs | 57,793 |  |  | 59,034 |
Gaming taxes | 30,625 |  |  | 28,814 |
Other segment items(2) | 44,496 |  |  | 38,181 |
| $ | 162,451 |  |  | $ | 146,398 |
(1) Other segment items primarily include corporate allocations, service provider costs, promotional expense, and other miscellaneous expenses. (2) Other segment items primarily include third party game provider fees, service provider costs, and other miscellaneous expenses.
| Three Months Ended March 31,
| 2025 |  | 2024
| (In thousands)
Segment Adjusted EBITDAR |  |  |
Las Vegas Strip Resorts | $ | 811,160 |  |  | $ | 827,788 |
Regional Operations | 279,042 |  |  | 274,102 |
MGM China | 285,565 |  |  | 301,186 |
MGM Digital | (34,393) |  |  | (18,790) |
| 1,341,374 |  |  | 1,384,286 |
Other operating income (expense) |  |  |
Corporate and other, net | (126,949) |  |  | (121,634) |
Preopening and start-up expenses | (85) |  |  | (1,095) |
Property transactions, net | (15,468) |  |  | (17,154) |
Depreciation and amortization | (236,444) |  |  | (196,562) |
Triple net lease rent expense | (564,475) |  |  | (564,339) |
Loss from unconsolidated affiliates | (12,896) |  |  | (25,124) |
Operating income | 385,057 |  |  | 458,378 |
Non-operating income (expense) |  |  |
Interest expense, net of amounts capitalized | (107,269) |  |  | (110,037) |
Non-operating items from unconsolidated affiliates | 262 |  |  | (136) |
Other, net | (11,266) |  |  | (4,806) |
| (118,273) |  |  | (114,979) |
Income before income taxes | 266,784 |  |  | 343,399 |
Provision for income taxes | (40,053) |  |  | (43,673) |
Net income | 226,731 |  |  | 299,726 |
Less: Net income attributable to noncontrolling interests | (78,177) |  |  | (82,250) |
Net income attributable to MGM Resorts International | $ | 148,554 |  |  | $ | 217,476 |
| Three Months Ended March 31,
| 2025 |  | 2024
Capital expenditures: | (In thousands)
Las Vegas Strip Resorts | $ | 105,238 |  |  | $ | 102,985 |
Regional Operations | 22,617 |  |  | 19,832 |
MGM China | 59,736 |  |  | 15,384 |
MGM Digital | 18,437 |  |  | 11,769 |
Reportable segment capital expenditures | 206,028 |  |  | 149,970 |
Corporate and other | 22,013 |  |  | 22,110 |
| $ | 228,041 |  |  | $ | 172,080 |

X
- 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 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: 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 3: 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
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration