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MGM MGM Resorts International

MGM Resorts International is an American global hospitality and entertainment company operating destination resorts in Las Vegas, Massachusetts, Detroit, Mississippi, Maryland, and New Jersey, including Bellagio, Mandalay Bay, MGM Grand, and Park MGM. In January 2019 the company took over Empire City Casino in Yonkers, New York, and also opened MGM National Harbor in Maryland and MGM Springfield in Massachusetts. The company has a majority interest in MGM China Holdings Limited, which owns the MGM Macau resort and casino, and is developing a gaming resort in Cotai. MGM Resorts owns 50 percent of CityCenter in Las Vegas, which features Aria Resort & Casino. It has a majority controlling interest in MGM Growth Properties, a real estate investment trust. The company began operations in 1987 as MGM Grand, Inc. and became MGM Mirage in 2000, after acquiring Mirage Resorts. In the mid-2000s, growth of its non-gaming revenue began to outpace gaming receipts and demand for high-rise condominiums was surging, with median property prices in Las Vegas twice the national average. The company shifted its focus from owning and operating resorts and casinos to developing and building real estate in the leisure and gaming industry—launching the massive CityCenter mixed-use project, which was at the time of its construction the world's largest construction site and ranks as one of the most expensive real estate projects in history. City Center's development coincided with the global financial crisis, causing more than $1 billion in writedowns in its valuation.

Company profile

Ticker
MGM
Exchange
NYSE
Website
www.mgmresorts.com/
CEO
William Hornbuckle
Employees
Incorporated
Delaware
Location
Nevada
Fiscal year end
Dec 31
Sector
Arts, Entertainment, and Recreation > Casinos (except Casino Hotels)
Industry (SIC)
Hotels & Motels
Caesars Entertainment • Hilton Worldwide • Las Vegas Sands • Park Hotels & Resorts • Travel+Leisure • Marriott International • Hyatt Hotels • Wynn Resorts • Boyd Gaming • Melco Resorts & Entertainment ...
Former names
MGM GRAND INC, MGM MIRAGE
SEC CIK
0000789570
Corporate docs
IRS number
880215232

MGM stock data

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News

Pro users get this 30m faster
'Tonight's game between the Brooklyn Nets and Minnesota Timberwolves scheduled in Minneapolis has been postponed following the killing of Daunte Wright' -Tweet
12 Apr 21
https://twitter.com/NBCNewYork/status/1381698048909279232
2021 Masters Tournament Betting Odds, Picks: Dustin Johnson, Bryson DeChambeau Lead Tiger-Less Field
8 Apr 21
The 2021 Masters Tournament kicks off April 8 and will end on Sunday, April 11. The event was delayed to November in 2020 due to the COVID-19, marking the first time the tournament had ever finished outside of April.
MGM Resorts Says Rolling Out Comprehensive Health & Safety Program To Bring Meetings Back To Las Vegas
7 Apr 21
Following months of trials, MGM Resorts is adding cutting-edge enhancements to its Convene with Confidence program, one of the meeting industry's most comprehensive health and safety plans,
New York Could Soon Legalize Sports Betting: A Look At Potential Winners And Losers
6 Apr 21
Stocks That Hit 52-Week Highs On Tuesday
6 Apr 21

Press releases

Pro users get this 30m faster
MGM Resorts International And Entain plc Announce Details Of BetMGM Investor Day
16 Apr 21
LAS VEGAS, April 16, 2021 /PRNewswire/ -- MGM Resorts International (NYSE:MGM) and Entain plc (LSE: ENT), together with their venture in the U.S., BetMGM, LLC ("BetMGM"), will host a virtual investor day on
A Growing Acceptance of Online Gambling is Visible Across the Board
8 Apr 21
NEW YORK, April 8, 2021 /PRNewswire/ -- The shift to a more favorable attitude towards online gambling services is visible across the board. For example, earlier in October, WynnBET, the digital gaming division of Wynn
MGM Resorts Rolls Out Comprehensive Health & Safety Program To Bring Meetings Back To Las Vegas
7 Apr 21
LAS VEGAS, April 7, 2021 /PRNewswire/ -- Following months of trials, MGM Resorts is adding cutting-edge enhancements to its Convene with Confidence program, one of the meeting industry's most comprehensive
Betting on the Digital Gaming Market
7 Apr 21
MGM Resorts International Announces First Quarter 2021 Earnings Release Date
6 Apr 21

Calendar

26 Feb 21
18 Apr 21
31 Dec 21

Financial summary

Financial statements Chart MGM financial data
Quarter (USD)
 Dec 20 Sep 20 Jun 20 Mar 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
 Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 5.1B 5.1B 5.1B 5.1B 5.1B 5.1B
Cash burn (monthly) (positive/no burn) (positive/no burn) 187.62M 99.79M 81.15M 124.42M
Cash used (since last report) n/a n/a 676.74M 359.93M 292.69M 448.77M
Cash remaining n/a n/a 4.42B 4.74B 4.81B 4.65B
Runway (months of cash) n/a n/a 23.6 47.5 59.3 37.4

Beta Read what these cash burn values mean

Recent insider trades

MGM insider ownership history Insider history
Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
5 Apr 21 William Hornbuckle Common Stock $.01 Par Value ND Sell Dispose S Yes Yes 41.1 10,000 411K 127,884
1 Apr 21 William Hornbuckle Common Stock $.01 Par Value ND Sell Dispose S Yes Yes 38.1294 40,000 1.53M 137,884
1 Apr 21 John McManus Common Stock $.01 Par Value ND Payment of exercise Dispose F No No 39.7 1,590 63.12K 39,985
1 Apr 21 John McManus Common Stock $.01 Par Value ND Option exercise Aquire M No No 0 6,528 0 41,575
1 Apr 21 John McManus RSU Common Stock $.01 Par Value ND Option exercise Dispose M No No 0 6,528 0 19,581
1 Apr 21 William Hornbuckle Common Stock $.01 Par Value ND Payment of exercise Dispose F No No 39.7 4,429 175.83K 224,748
1 Apr 21 William Hornbuckle Common Stock $.01 Par Value ND Option exercise Aquire M No No 0 11,254 0 229,177
1 Apr 21 William Hornbuckle RSU Common Stock $.01 Par Value ND Option exercise Dispose M No No 0 11,254 0 33,762
1 Apr 21 Corey Ian Sanders Common Stock $.01 Par Value ND Payment of exercise Dispose F No No 39.7 3,485 138.35K 406,980
1 Apr 21 Corey Ian Sanders Common Stock $.01 Par Value ND Option exercise Aquire M No No 0 8,854 0 410,465
Data from 3, 4 and 5 filings. Stock values as filed, not updated for current price.

Institutional ownership Q4 2020

MGM institutional ownership history Ownership history

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

64.1% owned by funds/institutions
13F holders
 Current Prev Q Change
Total holders 565 512 +10.4%
Opened positions 132 96 +37.5%
Closed positions 79 88 -10.2%
Increased positions 146 140 +4.3%
Reduced positions 201 190 +5.8%
13F shares
 Current Prev Q Change
Total value 10B 6.88B +45.3%
Total shares 317.29M 316.46M +0.3%
Total puts 16.22M 16.54M -1.9%
Total calls 18.15M 14.88M +22.0%
Total put/call ratio 0.9 1.1 -19.6%
Largest owners
 Shares Value Change
Vanguard 43.38M $1.37B +0.8%
BLK Blackrock 28.37M $894.05M -0.2%
TROW T. Rowe Price 23.1M $727.92M -40.7%
Corvex Management 22.54M $710.16M 0.0%
STT State Street 16.88M $531.98M -6.0%
Harris Associates L P 15.46M $487.18M +4.1%
Orbis Allan Gray 14.24M $448.7M +68.9%
Geode Capital Management 7.4M $232.51M +3.0%
Southeastern Asset Management 7.05M $222.24M +42.1%
MS Morgan Stanley 6.76M $213.11M +63.0%
Largest transactions
 Shares Bought/sold Change
TROW T. Rowe Price 23.1M -15.88M -40.7%
Canada Pension Plan Investment Board 5.83M +5.83M +58288970.0%
Orbis Allan Gray 14.24M +5.81M +68.9%
SRS Investment Management 3.09M -5.67M -64.7%
Steadfast Capital Management 5.65M +5.65M NEW
Norges Bank 5.09M +5.09M NEW
Maverick Capital 5.02M +5.02M NEW
JPM JPMorgan Chase & Co. 471.62K -3.33M -87.6%
MS Morgan Stanley 6.76M +2.61M +63.0%
BAC Bank Of America 4.95M +2.47M +99.1%
Data from 13F filings. Stock values as filed, not updated for current price. Long positions only.

Financial report summary

?
Competition
Gaming and Leisure Properties • Ballys • Sands China
Content analysis
?
Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. senior Avg
New words: acid, addressed, administered, advocacy, ambition, amenity, anchored, anxiety, app, attend, BetMGM, biddable, bolstered, capturing, carbon, career, carryback, CDP, CEO, charity, circularity, claimed, coach, combat, concise, confidence, Confirmation, conveyance, cope, count, covenant, cutting, decade, deferral, depression, diabetic, distancing, Division, Donate, donated, dramatically, drastically, Drinking, efficacy, endeavor, endocrinology, Entain, entry, ESH, ethnically, exacerbated, exacerbating, exemplified, exerting, fault, Feeding, female, FICA, foot, foreseeable, fourteen, FSB, furloughed, gap, goal, Guangdong, Halkyard, headcount, iGaming, indemnified, input, insecure, Institutional, Interbank, internship, irrevocable, Jonathan, journey, junior, learning, Lender, liaison, Likewise, lobbying, logistical, managerial, mapped, mask, maternity, Meinert, mental, Mentorship, merit, midweek, mind, misconduct, navigate, Nebraska, NOL, nominal, nucleic, outreach, pandemic, Paul, piloting, placement, prejudice, prepayment, procurement, put, QualityScore, quickly, racial, rank, rapidly, Ratification, recommending, refreshed, reimagined, reimposed, reinstatement, relaxation, relet, relieved, renegotiation, reopening, representation, revamped, salary, Salem, salon, score, screening, short, shut, situation, Society, spa, stakeholder, strong, substantive, supplier, tailored, tangible, Taskforce, technical, temperature, tentative, thereunder, Todd, tourist, transient, Treasury, unavoidable, undertook, unemployment, unforeseen, unknown, unprecedented, unrestricted, uphold, vaccine, variant, vesting, veteran, Virginia, volunteerism, week, Wilmington, Windmill, workforce, worsen, Zhuhai
Removed: Accelerate, aircraft, Arena, automate, bear, belief, Boyd, broad, builder, bundled, catering, clarifying, cloud, collaboration, column, condensed, council, designation, dilutive, dual, effort, elimination, evolution, executed, explore, favorably, fifty, finalized, friendly, fringe, GILTI, incomplete, incorporating, innovation, inspire, intrinsic, IPO, join, junket, knowledgeable, largest, leaseback, LEED, monthly, motivating, optimal, parking, percent, platform, preservation, Primm, procedural, recycling, reliably, requirement, reschedule, reservation, Saving, Selwood, solidify, speed, stewardship, strength, Theater, Valley, Veer, waste, withholding
From filing 10-K 2020 FY

Financial reports

View all
10-K
2020 FY
Annual report
26 Feb 21
10-Q
2020 Q3
Quarterly report
3 Nov 20
10-Q
2020 Q2
Quarterly report
3 Aug 20
10-Q
2020 Q1
Quarterly report
1 May 20
10-K
2019 FY
Annual report
27 Feb 20
10-Q
2019 Q3
Quarterly report
4 Nov 19
10-Q
2019 Q2
Quarterly report
7 Aug 19
10-Q
2019 Q1
Quarterly report
7 May 19
10-K
2018 FY
Annual report
27 Feb 19
10-Q
2018 Q3
Quarterly report
7 Nov 18

Current reports

View all
8-K
Entry into a Material Definitive Agreement
31 Mar 21
8-K
Entry into a Material Definitive Agreement
1 Mar 21
8-K
MGM Resorts International Reports Fourth Quarter and Full Year 2020
10 Feb 21
8-K
Amendments to Articles of Incorporation or Bylaws
15 Jan 21
8-K
MGM Resorts International Names Gaming and Hospitality Executive Jonathan Halkyard Chief Financial Officer
6 Jan 21
8-K
Departure of Directors or Certain Officers
4 Dec 20
8-K
Entry into a Material Definitive Agreement
20 Nov 20
8-K
Departure of Directors or Certain Officers
6 Nov 20
8-K
MGM Resorts International Reports Third Quarter
29 Oct 20
8-K
Entry into a Material Definitive Agreement
13 Oct 20

Registration and prospectus

View all
S-3ASR
Automatic shelf registration
1 Mar 21
424B2
Prospectus for primary offering
9 Oct 20
FWP
Free writing prospectus
8 Oct 20
424B5
Prospectus supplement for primary offering
8 Oct 20
424B2
Prospectus for primary offering
23 Apr 20
FWP
Free writing prospectus
23 Apr 20
424B5
Prospectus supplement for primary offering
23 Apr 20
SC TO-I/A
Issuer tender offer statement (amended)
12 Mar 20
SC TO-I/A
Issuer tender offer statement (amended)
1 Mar 20
SC TO-I/A
Issuer tender offer statement (amended)
26 Feb 20

Proxies

View all
DEFA14A
Additional proxy soliciting materials
16 Apr 21
DEFA14A
Additional proxy soliciting materials
26 Mar 21
DEF 14A
Definitive proxy
26 Mar 21
PRE 14A
Preliminary proxy
16 Mar 21
DEFA14A
Additional proxy soliciting materials
27 Mar 20
DEF 14A
Definitive proxy
27 Mar 20
DEFA14A
Additional proxy soliciting materials
20 Mar 19
DEF 14A
Definitive proxy
20 Mar 19
DEF 14A
Definitive proxy
20 Mar 18
DEFA14A
Additional proxy soliciting materials
20 Mar 18

Other

View all
UPLOAD
Letter from SEC
19 Aug 20
CORRESP
Correspondence with SEC
18 Aug 20
UPLOAD
Letter from SEC
13 Aug 20
CORRESP
Correspondence with SEC
20 Jul 20
UPLOAD
Letter from SEC
15 Jul 20
CT ORDER
Confidential treatment order
17 Apr 17
UPLOAD
Letter from SEC
26 Apr 16
CORRESP
Correspondence with SEC
25 Apr 16
UPLOAD
Letter from SEC
17 Apr 16
CORRESP
Correspondence with SEC
13 Apr 16

Ownership

View all
4
MGM Resorts International / COREY IAN SANDERS ownership change
5 Apr 21
4
MGM Resorts International / John McManus ownership change
5 Apr 21
4
MGM Resorts International / WILLIAM HORNBUCKLE ownership change
5 Apr 21
4
MGM Resorts International / WILLIAM HORNBUCKLE ownership change
2 Apr 21
4
MGM Resorts International / Keith A. Meister ownership change
2 Apr 21
4
MGM Resorts International / PAUL J SALEM ownership change
2 Apr 21
4
MGM Resorts International / COREY IAN SANDERS ownership change
17 Mar 21
4
MGM Resorts International / Todd Meinert ownership change
17 Mar 21
4
MGM Resorts International / John McManus ownership change
17 Mar 21
4
MGM Resorts International / WILLIAM HORNBUCKLE ownership change
17 Mar 21

Transcripts

View all
2020 Q4
Earnings call transcript
11 Feb 21
2020 Q3
Earnings call transcript
29 Oct 20
2020 Q2
Earnings call transcript
30 Jul 20
2020 Q1
Earnings call transcript
30 Apr 20
2019 Q4
Earnings call transcript
12 Feb 20
2019 Q3
Earnings call transcript
30 Oct 19
2019 Q2
Earnings call transcript
25 Jul 19
2019 Q1
Earnings call transcript
29 Apr 19
2018 Q4
Earnings call transcript
13 Feb 19
2018 Q3
Earnings call transcript
30 Oct 18

Reddit threads

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