MGM Resorts International Competitors, Marketcap, Revenue, Net Worth, 2025

MGM Resorts International operates as a global gaming and entertainment company with headquarters in Paradise, Nevada. The company manages an extensive portfolio of hotels, casinos, conference facilities, live entertainment venues, and dining establishments across national and international markets.

The company’s operations span multiple continents, featuring recognizable resort brands including Bellagio, MGM Grand, ARIA, and Mandalay Bay. MGM Resorts also operates sports betting and online gaming platforms through BetMGM, a joint venture established to capture the expanding U.S. sports wagering market.

With more than 74,000 employees, MGM Resorts International ranks among the largest public companies globally in the hospitality and gaming sector. The company’s strategic partnerships, including its 2023 agreement with Marriott International, have expanded its reach and enhanced customer loyalty programs across its property portfolio.

MGM Resorts International History

The origins of MGM Resorts International trace back to the late 1960s when entrepreneur Kirk Kerkorian acquired a controlling stake in the Metro-Goldwyn-Mayer movie studio. Kerkorian, who started with limited formal education, became one of the most influential figures in Las Vegas development and is widely recognized as a pioneer of the modern Las Vegas Strip.

Early Development and the MGM Brand

In 1962, Kerkorian built the International Hotel, which became the largest hotel in the world at that time. The property hosted performances by Barbra Streisand and Elvis Presley as its first two headliners, establishing a tradition of celebrity entertainment that would define Las Vegas hospitality.

Kerkorian constructed the MGM Grand Hotel in 1966, surpassing the International Hotel in size with dimensions exceeding even the Empire State Building. The original MGM Grand Hotel and Casino, now operating as Horseshoe Las Vegas, opened in 1973, followed by the MGM Grand Reno in 1978.

Corporate Restructuring and Brand Evolution

In 1980, the Metro-Goldwyn-Mayer film studio was spun off as a separate entity, while the original company, renamed MGM Grand Hotels Inc., retained the two hotel casinos. This strategic separation allowed Kerkorian to focus on hospitality operations while maintaining the valuable MGM brand identity.

Kerkorian sold MGM Grand Hotels to Bally Manufacturing in 1986, with the two casinos rebranded under the Bally’s name. The terms of the sale permitted Kerkorian to retain rights to the MGM Grand name, which he offered to stockholders through MGM Grand, Inc., a newly formed company holding the naming rights.

MGM Grand, Inc., now known as MGM Resorts International, began operations in 1987, marking the official establishment of the company as a dedicated gaming and hospitality enterprise.

Expansion Through Major Acquisitions

In 2000, MGM Grand, Inc. acquired Mirage Resorts, creating MGM Mirage through one of the largest transactions in gaming industry history at that time. The company continued expanding in 2005 by acquiring Mandalay Resort Group, formerly known as Circus Circus Enterprises, while retaining the MGM Mirage name.

MGM Hospitality was established in 2007 to operate hotels, resorts, and residences globally using brands including Bellagio, MGM Grand, and Skylofts. In 2009, the company formed Diaoyutai MGM Hospitality, a joint venture with Diaoyutai State Guesthouse of China, developing five-star hotels and resorts throughout China.

The company rebranded as MGM Resorts International in 2010, reflecting its global presence and diversified operations beyond Las Vegas. In 2011, MGM held an initial public offering for MGM China, establishing a separate holding company for its Macau property operations.

MGM Resorts International Founder

Kirk Kerkorian: Visionary Entrepreneur

Kirk Kerkorian emerged from humble beginnings as an eighth-grade dropout to become one of the most successful businessmen of his generation. His journey from limited formal education to building a gaming and hospitality empire demonstrates extraordinary entrepreneurial vision and risk management capabilities.

Kerkorian’s business acumen extended beyond hospitality into aviation and entertainment. Before establishing MGM Resorts, he founded Trans International Airlines, which he later sold to Transamerica Corporation. His acquisition of the Metro-Goldwyn-Mayer movie studio provided the brand foundation that would become synonymous with luxury entertainment in Las Vegas.

Legacy in Las Vegas Development

Kerkorian’s contributions to Las Vegas development transformed the city from a regional gaming destination into an international entertainment capital. His construction of the International Hotel in 1962 and the MGM Grand Hotel in 1966 established new standards for scale and luxury in the hospitality industry.

The strategic decision to retain MGM naming rights after selling to Bally Manufacturing demonstrated Kerkorian’s understanding of brand value. By forming MGM Grand, Inc. in 1987, he positioned the company for future growth that would eventually encompass properties across multiple continents, similar to expansion strategies pursued by Hilton and other major hospitality companies.

Kerkorian remained actively involved in MGM operations throughout his life, maintaining significant ownership stakes and guiding strategic decisions. His death in 2015 marked the end of an era, but his influence on Las Vegas hospitality and the broader gaming industry continues through MGM Resorts International’s global operations.

MGM Resorts International Acquisitions

MGM Resorts International has executed strategic acquisitions throughout its history to expand market presence, diversify property portfolios, and enhance operational capabilities across gaming and hospitality sectors.

Mirage Resorts

In 2000, MGM Grand, Inc. acquired Mirage Resorts in a transaction valued as one of the largest in gaming industry history at that time. The acquisition brought iconic properties including The Mirage, Treasure Island, and Bellagio under MGM control, forming the newly named MGM Mirage corporation.

Mandalay Resort Group

MGM Mirage acquired Mandalay Resort Group, formerly Circus Circus Enterprises, in 2005. This transaction added properties including Mandalay Bay, Luxor, and Excalibur to the portfolio, significantly expanding MGM’s presence on the Las Vegas Strip and establishing the company as the dominant operator in the market.

CityCenter Stake

In 2021, MGM acquired 50 percent of Dubai World’s share of CityCenter, a mixed-use complex on the Las Vegas Strip featuring ARIA Resort & Casino and Vdara Hotel. This acquisition increased MGM’s ownership stake in the development while maintaining the integrated resort concept pioneered by Walt Disney in theme park design.

The Cosmopolitan of Las Vegas

MGM Resorts purchased the operating assets of The Cosmopolitan of Las Vegas in 2021. The acquisition added a contemporary luxury property to the MGM portfolio, appealing to younger demographics and complementing the company’s existing brand portfolio with a distinctly modern aesthetic.

LeoVegas

MGM Resorts acquired LeoVegas, a European online gaming and sports betting operator, expanding its digital presence beyond North American markets. This acquisition provided established technology platforms and regulatory licenses across multiple European jurisdictions, enabling MGM to compete with established operators like DraftKings in international markets.

Strategic Asset Sales

While expanding through acquisitions, MGM has also executed strategic asset sales to optimize its portfolio. In 2019, the company sold Bellagio’s real estate assets to Blackstone Group while maintaining operational control through a lease agreement. MGM also sold Circus Circus to Phil Ruffin and later sold The Mirage to Hard Rock International in 2021.

In 2021, MGM sold the real estate assets of ARIA and Vdara to Blackstone while retaining operational management. These transactions generated capital for debt reduction and strategic investments while allowing MGM to continue operating properties under long-term lease arrangements, similar to strategies employed by Caesars Entertainment in its restructuring efforts.

Who Owns MGM Resorts International

MGM Resorts International operates as a publicly traded company listed on the New York Stock Exchange under the ticker symbol MGM. The company’s ownership structure includes institutional investors, individual shareholders, and company executives holding equity stakes through various investment vehicles.

Following Kirk Kerkorian’s death in 2015, his estate maintained significant holdings through Tracinda Corporation, though this stake has been distributed over time. Current ownership reflects a diversified shareholder base typical of large publicly traded hospitality companies.

The company’s board of directors oversees strategic direction and corporate governance, with executive leadership managing daily operations across global properties. This structure resembles ownership models employed by other major hospitality operators, including Marriott International, which partnered with MGM in 2023 for loyalty program integration.

MGM Resorts International Recent News

Marriott International Strategic Partnership

In 2023, MGM Resorts International announced a landmark agreement with Marriott International to integrate 17 MGM properties into Marriott’s global reservations system and Bonvoy loyalty program. This partnership created the MGM Collection With Marriott Bonvoy, providing MGM guests access to Marriott’s extensive loyalty benefits while enabling Marriott members to earn and redeem points at MGM properties.

The collaboration represents a significant strategic shift in the gaming industry, where loyalty programs have traditionally operated independently. The integration allows both companies to leverage their respective strengths, with MGM gaining access to Marriott’s global customer base while Marriott expands its luxury and entertainment offerings.

BetMGM Market Expansion

BetMGM, the 50/50 joint venture between MGM Resorts and Entain (formerly GVC Holdings), has expanded operations across multiple U.S. states as sports betting legalization continues. The platform offers sports wagering and online gaming through BetMGM and partypoker brands, competing with established operators in the rapidly growing market.

The company has secured market access agreements and launched operations in numerous jurisdictions, establishing BetMGM as one of the leading online sports betting platforms in the United States. This digital expansion complements MGM’s physical casino operations and diversifies revenue streams beyond traditional gaming markets.

Sustainability and Community Initiatives

MGM Resorts has advanced sustainability initiatives across its property portfolio, implementing energy efficiency programs, water conservation measures, and waste reduction strategies. The company has set targets for carbon emission reductions and increased renewable energy usage, aligning with broader hospitality industry trends toward environmental responsibility.

Through partnerships like the Buffalo Wild Wings collaboration announced in September 2019 and the Yahoo Sports betting integration launched in October 2019, MGM continues diversifying its entertainment and gaming offerings while expanding its digital footprint across multiple customer touchpoints.

FAQs

When was MGM Resorts International founded?

MGM Resorts International began operations in 1987 when Kirk Kerkorian established MGM Grand, Inc. after retaining naming rights from his previous sale to Bally Manufacturing in 1986.

Where is MGM Resorts International headquartered?

MGM Resorts International maintains its headquarters in Paradise, Nevada, United States, operating properties across Las Vegas, China, and through joint ventures in multiple international markets.

What properties does MGM Resorts International own?

MGM Resorts operates properties including Bellagio, MGM Grand, ARIA, Mandalay Bay, The Cosmopolitan, Park MGM, New York-New York, Luxor, Excalibur, and international properties in Macau through MGM China.

Who founded MGM Resorts International?

Kirk Kerkorian founded MGM Resorts International in 1987. He was a visionary entrepreneur who pioneered modern Las Vegas development through construction of landmark hotel properties beginning in the 1960s.

What is BetMGM?

BetMGM is a 50/50 joint venture between MGM Resorts and Entain offering sports betting and online gaming across multiple U.S. states through BetMGM and partypoker platforms.