• Document Adjusted Property EBITDAR in 4Q and full yr 2022 for Las Vegas Strip Resorts and Regional Operations
• Share buybacks of $2.8 billion in 2022 and $352 million in 4Q22
• New $2 billion share repurchase program approved by the Board of Administrators
• Closed on the sale of the operations of The Mirage for $1.1 billion in money
• Awarded new 10-year gaming concession in Macau

LAS VEGAS, Feb. 8, 2023 /PRNewswire/ — MGM Resorts Worldwide (NYSE: MGM) (“MGM Resorts” or the “Firm”) as we speak reported monetary outcomes for the quarter and yr ended December 31, 2022.

“We achieved our fifth consecutive quarter of record-breaking Las Vegas Strip Resorts Adjusted Property EBITDAR within the fourth quarter,” mentioned Invoice Hornbuckle, Chief Government Officer and President of MGM Resorts. “What we achieved in 2022 is nothing wanting exceptional, and is a testomony to our strategic plan, scale, model power, gifted group, loyalty program, and the various geographies and channels during which we function. We imagine that there’s sturdy momentum in our enterprise and our 2023 outlook stays vivid, pushed by a sturdy occasions calendar domestically, MGM China’s fast year-to-date return to profitability and BetMGM’s ongoing enchancment in 2023.”

“We achieved distinctive leads to the fourth quarter and stay optimistic in our outlook for this yr. We’re additionally targeted on free money movement and imagine our firm presents a compelling yield, particularly when taking into consideration the worth in our share value for extra money, our possession worth of MGM China and BetMGM,” mentioned Jonathan Halkyard, Chief Monetary Officer and Treasurer of MGM Resorts. “Our share buyback program continues to return capital to shareholders as we’ve got already repurchased 4 million shares for $164 million year-to-date, including to the 76 million shares we repurchased in 2022 and totaling roughly $4.7 billion since 2021. Past this, our Board of Administrators approved an extra $2 billion for share buybacks.”

Fourth Quarter 2022 Monetary Highlights:

Consolidated Outcomes

• Consolidated internet revenues of $3.6 billion, a rise of 18% in comparison with the prior yr quarter. The present quarter benefited from the inclusion of the working outcomes of The Cosmopolitan of Las Vegas (“The Cosmopolitan”), which was acquired in Might 2022, partially offset by the disposition of The Mirage in December 2022. Moreover, outcomes improved over the prior yr quarter because of a rise in enterprise quantity and journey exercise primarily on the Las Vegas Strip Resorts and Regional Operations;
• Working loss was $2 million in comparison with working earnings of $369 million within the prior yr quarter due primarily to a $1.2 billion enhance in noncash amortization expense referring to the MGM Grand Paradise gaming subconcession and a rise of $338 million of lease expense recorded inside common & administrative expense associated to the VICI and The Cosmopolitan leases, which commenced in April 2022 and Might 2022, respectively, partially offset by a $1.1 billion acquire on the disposition of The Mirage within the present quarter;
• Web earnings attributable to MGM Resorts of $284 million, which was impacted by the gadgets affecting working loss mentioned above, in comparison with $131 million within the prior yr quarter;
• Diluted earnings per share of $0.69 within the present quarter in comparison with $0.23 within the prior yr quarter; 
• Adjusted diluted earnings per share (“Adjusted EPS”)⁽¹⁾ was a lack of $1.53 within the present quarter in comparison with Adjusted EPS of $0.12 within the prior yr quarter; and
• Consolidated Adjusted EBITDAR⁽²⁾ of $957 million within the present quarter.

Las Vegas Strip Resorts

• Web revenues of $2.3 billion within the present quarter in comparison with $1.8 billion within the prior yr quarter, a rise of 27%. The present quarter benefited from the inclusion of The Cosmopolitan and a rise in enterprise quantity and journey exercise in comparison with the prior yr quarter, partially offset by the disposition of The Mirage;
• Identical-store internet revenues (adjusted for acquisitions and inclinations) of $1.8 billion within the present quarter in comparison with $1.7 billion within the prior yr quarter, a rise of 11%;
• Adjusted Property EBITDAR⁽²⁾ of $877 million within the present quarter in comparison with $699 million within the prior yr quarter, a rise of 26%;
• Identical-Retailer Adjusted Property EBITDAR⁽²⁾ of $691 million within the present quarter in comparison with $651 million within the prior yr quarter, a rise of 6%; and
• Adjusted Property EBITDAR margin⁽²⁾ of 38.2% within the present quarter in comparison with 38.7% within the prior yr quarter, a lower of fifty foundation factors due primarily to a rise in contribution from lower-margin non-gaming retailers and venues.

Regional Operations

• Web revenues of $991 million within the present quarter in comparison with $900 million within the prior yr quarter, a rise of 10% because of a rise in enterprise quantity;
• Adjusted Property EBITDAR of $320 million within the present quarter in comparison with $309 million within the prior yr quarter, a rise of three%; and
• Adjusted Property EBITDAR margin of 32.2% within the present quarter in comparison with 34.4% within the prior yr quarter, a lower of 215 foundation factors in comparison with the prior yr quarter because of a rise in contribution from lower-margin non-gaming retailers and venues and a rise normally and administrative bills because the prior yr quarter included a good thing about $16 million for insurance coverage recoveries associated to Hurricane Zeta.

MGM China

• Web revenues of $175 million within the present quarter in comparison with $315 million within the prior yr quarter, a lower of 44%. The present quarter was negatively affected by a three-day COVID-19 associated property closure at MGM Cotai and was extra considerably impacted by journey and entry restrictions in Macau in comparison with the prior yr quarter; and
• Adjusted Property EBITDAR lack of $55 million in comparison with Adjusted Property EBITDAR of $5 million within the prior yr quarter.

Adjusted EPS

The next desk reconciles diluted earnings per share (“EPS”) to Adjusted EPS (approximate EPS influence proven, per share; constructive changes symbolize expenses to earnings):

Full Yr 2022 Monetary Highlights:

Consolidated Outcomes

• Consolidated internet revenues of $13.1 billion within the present yr in comparison with $9.7 billion within the prior yr, a rise of 36%. The present yr contains the working outcomes of The Cosmopolitan upon its acquisition in Might 2022, a full yr of Aria and Vdara (collectively “Aria”) because of its acquisition in September 2021, and the outcomes of The Mirage till its disposition in December 2022;
• Working earnings was $1.4 billion in comparison with $2.3 billion within the prior yr, because of a $2.5 billion enhance in noncash amortization expense of the MGM Grand Paradise gaming subconcession  and a rise of $1.1 billion of lease expense associated to triple-net working leases and floor leases due primarily to The Cosmopolitan lease, the Aria lease, and VICI lease, partially offset by the $2.3 billion acquire on REIT transactions, internet and the $1.1 billion acquire on the disposition of The Mirage within the present yr, and in addition because of the prior yr outcomes together with the $1.6 billion acquire on consolidation of CityCenter, internet;
• Web earnings attributable to MGM Resorts of $1.5 billion in 2022, which was impacted by the gadgets affecting working earnings mentioned above, in comparison with $1.3 billion within the prior yr;
• Diluted earnings per share of $3.49 in 2022 in comparison with $2.41 in 2021;
• Adjusted  EPS lack of $2.74 in 2022, in comparison with Adjusted EPS lack of $0.67 in 2021; and
• Consolidated Adjusted EBITDAR of $3.5 billion in 2022.

Las Vegas Strip Resorts

• Web revenues of $8.4 billion within the present yr in comparison with $4.7 billion within the prior yr, a rise of 77%;
• Identical-store internet revenues (adjusted for acquisitions and inclinations) of $5.6 billion within the present yr in comparison with $4.0 billion within the prior yr, a rise of 42%;
• Adjusted Property EBITDAR of $3.1 billion within the present yr in comparison with $1.7 billion within the prior yr, a rise of 81%;
• Identical-Retailer Adjusted Property EBITDAR of $2.1 billion within the present yr in comparison with $1.5 billion within the prior yr, a rise of 42%; and
• Adjusted Property EBITDAR margin of 37.4% within the present yr in comparison with 36.7% within the prior yr, a rise of 72 foundation factors.

Regional Operations

• Web revenues of $3.8 billion within the present yr in comparison with $3.4 billion within the prior yr, a rise of 12%;
• Adjusted Property EBITDAR of $1.3 billion within the present yr in comparison with $1.2 billion within the prior yr, a rise of 6%; and
• Adjusted Property EBITDAR margin of 33.9% within the present yr in comparison with 35.9% within the prior yr, a lower of 197 foundation factors due primarily to a rise in contribution from lower-margin non-gaming retailers and venues.

MGM China

• Web revenues of $674 million within the present yr in comparison with $1.2 billion within the prior yr, a lower of 44%; and
• MGM China Adjusted Property EBITDAR lack of $203 million within the present yr in comparison with Adjusted Property EBITDAR of $25 million within the prior yr.

Adjusted EPS

The next desk reconciles EPS to Adjusted EPS (approximate EPS influence proven, per share; constructive changes symbolize expenses to earnings):

The present yr additionally included a non-cash earnings tax good thing about $296 million to report the deferred tax influence of the extension of the exemption from the Macau 12% complementary tax and a non-cash earnings tax good thing about $37 million to report the influence of the VICI transaction on state deferred tax liabilities, partially offset by a non-cash earnings tax cost of $90 million ensuing from a rise within the valuation allowance on Macau deferred tax property and a non-cash earnings tax cost of $59 million to report the deferred tax influence of earnings tax laws governing mixed reporting in New Jersey that had been issued in the course of the yr.

Las Vegas Strip Resorts

The next desk exhibits key gaming statistics for Las Vegas Strip Resorts: 

The next desk exhibits key lodge statistics for Las Vegas Strip Resorts:

Regional Operations

The next desk exhibits key gaming statistics for Regional Operations:

MGM China

The next desk exhibits key gaming statistics for MGM China:

License price expense was $3 million within the present quarter and $6 million within the prior yr quarter. 

Unconsolidated Associates

The next desk summarizes info associated to the Firm’s share of working earnings (loss) from unconsolidated associates:

MGM Resorts Share Repurchases

Throughout the fourth quarter of 2022, the Firm repurchased roughly 11 million shares of its widespread inventory at a mean value of $32.96 per share for an combination quantity of $352 million, pursuant to the March 2022 repurchase plan. The remaining availability below the March 2022 repurchase plan was $475 million as of December 31, 2022. All shares repurchased below the Firm’s program have been retired.

On February 8, 2023, the Firm introduced that its Board of Administrators had approved a brand new $2.0 billion share repurchase plan. Moreover, the Firm introduced that our Board of Administrators had decided to droop our ongoing common dividends to be able to give attention to our most well-liked methodology of returning worth to shareholders via our share repurchase plan. To the extent the Firm determines to reinstate the dividend sooner or later, the quantity, declaration and cost of any future dividends can be topic to the discretion of the Board of Administrators who will consider the Firm’s dividend coverage occasionally primarily based on elements it deems related, and contractual limitations.

Convention Name Particulars 

MGM Resorts will host a convention name at 5:00 p.m. Japanese Time as we speak, which can embody a short dialogue of the outcomes adopted by a query and reply session. As well as, supplemental slides can be posted previous to the beginning of the decision on MGM’s Investor Relations web site at http://traders.mgmresorts.com.

The decision can be accessible by way of the Web via http://traders.mgmresorts.com/traders/events-and-presentations/ or by calling 1-888-317-6003 for home callers and 1-412-317-6061 for worldwide callers. The convention name entry code is 4136853.

A replay of the decision can be out there via February 15, 2023. The replay could also be accessed by dialing 1-877-344-7529 or 1-412-317-0088. The replay entry code is 7300752. The decision can be archived at http://traders.mgmresorts.com.

1.”Adjusted EPS” is diluted earnings or loss per share adjusted to exclude property transactions, internet, preopening and start-up bills, acquire on REIT transactions, internet, acquire on consolidation of CityCenter, internet, international foreign money acquire/loss associated to MGM China’s U.S. dollar-denominated debt, internet acquire/loss associated to fairness investments for which the Firm has elected the honest worth choice of ASC 825 and fairness investments accounted for below ASC 321 for which there’s a readily determinable honest worth and internet acquire/loss associated to the Firm’s debt securities, change within the honest worth of international foreign money contracts, mark-to-market  changes  associated  to  MGP’s  unhedged  curiosity  price  swaps, mark-to-market changes associated to CityCenter’s unhedged rate of interest swaps recorded inside non-operating gadgets from unconsolidated associates, and acquire  associated  to  CityCenter’s  sale  of Harmon land recorded inside earnings from unconsolidated associates.

Adjusted EPS is a non-GAAP measure and is introduced solely as a supplemental disclosure to reported GAAP measures as a result of administration believes this measure is beneficial in offering period-to-period comparisons of the outcomes of the Firm’s persevering with operations to help traders in reviewing the Firm’s working efficiency over time. Administration believes that whereas sure gadgets excluded from Adjusted EPS could also be recurring in nature and shouldn’t be disregarded in evaluating the Firm’s earnings efficiency, it’s helpful to exclude such gadgets when evaluating present efficiency to prior durations as a result of these things can differ considerably relying on particular underlying transactions or occasions. Additionally, administration believes sure excluded gadgets, and gadgets additional mentioned in footnote 2 under, might not relate particularly to present working tendencies or be indicative of future outcomes. Adjusted EPS shouldn’t be construed as a substitute for GAAP earnings per share as an indicator of the Firm’s efficiency. As well as, Adjusted EPS will not be outlined in the identical method by all corporations and, consequently, will not be similar to equally titled non-GAAP monetary measures of different corporations. A reconciliation of Adjusted EPS to diluted earnings per share might be discovered below “Adjusted Diluted Earnings Per Share” included on this launch.

2.”Adjusted EBITDAR” is earnings earlier than curiosity and different non-operating earnings (expense), taxes, depreciation and amortization, preopening and start-up bills, property transactions, internet, acquire on REIT transactions, internet, acquire on consolidation of CityCenter, internet, lease expense associated to triple-net working leases and floor leases, acquire associated to CityCenter’s sale of Harmon land recorded inside earnings from unconsolidated associates, and earnings from unconsolidated associates associated to investments in actual property ventures.

“Adjusted Property EBITDAR” is the Firm’s reportable section GAAP measure, which administration makes use of as the first revenue measure for its reportable segments and underlying working segments. Adjusted Property EBITDAR is a measure outlined as earnings earlier than curiosity and different non-operating earnings (expense), taxes, depreciation and amortization, preopening and start-up bills, property transactions, internet, acquire on REIT transactions, internet, lease expense associated to triple-net working leases and floor leases, earnings from unconsolidated associates associated to investments in actual property ventures, and in addition excludes acquire on consolidation of CityCenter, internet, acquire associated to CityCenter’s sale of Harmon land recorded inside earnings from unconsolidated associates, company expense and inventory compensation expense, which aren’t allotted to every working section, and lease expense associated to the grasp lease with MGP that eradicated in consolidation.

“Identical-Retailer Adjusted Property EBITDAR” is Adjusted Property EBITDAR additional adjusted to exclude the Adjusted Property EBITDAR of acquired working segments from the date of acquisition via the top of the reporting interval and to exclude the Adjusted Property EBITDAR of disposed working segments from the start of the reporting interval via the date of disposition. Accordingly, the Firm has excluded the Adjusted Property EBITDAR of The Cosmopolitan for durations subsequent to its acquisition on Might 17, 2022, Aria for durations subsequent to its acquisition on September 27, 2021, and The Mirage for the durations previous to its disposition on December 19, 2022 in Identical-Retailer Adjusted Property EBITDAR for the durations indicated, as relevant.

Identical-Retailer Adjusted Property EBITDAR is a non-GAAP measure and is introduced solely as a supplemental disclosure to reported GAAP measures as a result of administration believes this measure is beneficial in offering significant period-to-period comparisons of the outcomes of the Firm’s operations for working segments that had been consolidated for the total interval introduced to help customers of the monetary statements in reviewing working efficiency over time. Identical-Retailer Adjusted Property EBITDAR shouldn’t be seen as a measure of total working efficiency, thought-about in isolation, or as a substitute for the Firm’s reportable section GAAP measure or internet earnings, or as a substitute for some other measure decided in accordance with typically accepted accounting rules, as a result of this measure is just not introduced on a GAAP foundation, and is offered for the restricted functions mentioned herein. As well as, Identical-Retailer Adjusted Property EBITDAR will not be outlined in the identical method by all corporations and, consequently, will not be similar to equally titled non-GAAP monetary measures of different corporations, and such variations could also be materials. A reconciliation of the Firm’s reportable section Adjusted Property EBITDAR GAAP measure to Identical-Retailer Adjusted Property EBITDAR is included within the monetary schedules on this launch.

“Desk Video games Maintain Adjusted Las Vegas Strip Resorts Adjusted Property EBITDAR” and “Desk Video games Maintain Adjusted Las Vegas Strip Resorts Identical-Retailer Adjusted Property EBITDAR” are supplemental non-GAAP monetary measures, that, along with the explanations described above for the presentation of Adjusted Property EBITDAR and Identical-Retailer Adjusted Property EBITDAR, are introduced to regulate for the influence of sure variances in desk video games win percentages in comparison with the mid-point of the anticipated ranges. Desk Video games Maintain Adjusted Las Vegas Strip Resorts Adjusted Property EBITDAR and Desk Video games Maintain Adjusted Las Vegas Strip Resorts Identical-Retailer Adjusted Property EBITDAR are calculated by making use of a win share of 30.0% for Baccarat and 21.0% for non-Baccarat video games to the respective desk video games drops for the quarter, which represents the mid-point of the anticipated ranges of 25.0% to 35.0% for Baccarat and 19.0% to 23.0% for non-Baccarat on the Las Vegas Strip Resorts properties. Desk Video games Maintain Adjusted Las Vegas Strip Resorts Identical-Retailer Adjusted Property EBITDAR is Identical-Retailer Adjusted Property EBITDAR adjusted to exclude the maintain changes associated to such acquired and disposed working segments for the respective durations. Desk Video games Maintain Adjusted Las Vegas Strip Resorts Adjusted Property EBITDAR and Desk Video games Maintain Adjusted Las Vegas Strip Resorts Identical-Retailer Adjusted Property EBITDAR are additionally adjusted for the gaming taxes, unhealthy debt expense, reductions and different incentives that will have been incurred or prevented when making use of the win percentages famous above to the respective gaming volumes. Desk Video games Maintain Adjusted Las Vegas Strip Resorts Adjusted Property EBITDAR and Desk Video games Maintain Adjusted Las Vegas Strip Resorts Identical-Retailer Adjusted Property EBITDAR shouldn’t be seen as a measure of total working efficiency, thought-about in isolation, or as a substitute for the Firm’s reportable section GAAP measure or internet earnings, or to some other measure decided in accordance with typically accepted accounting rules, as a result of this measure is just not introduced on a GAAP foundation, and is offered for the restricted functions mentioned herein. As well as, Desk Video games Maintain Adjusted Las Vegas Strip Resorts Adjusted Property EBITDAR and Desk Video games Maintain Adjusted Las Vegas Strip Resorts Identical-Retailer Adjusted Property EBITDAR will not be outlined in the identical method by all corporations and, consequently, will not be similar to equally titled non-GAAP financials measures of different corporations, and such variations could also be materials. A reconciliation of the Firm’s reportable section Adjusted Property EBITDAR GAAP measure to Desk Video games Maintain Adjusted Las Vegas Strip Resorts Identical-Retailer Adjusted Property EBITDAR is included within the monetary schedules on this launch.

Adjusted EBITDAR info is a non-GAAP measure that may be a valuation metric, shouldn’t be used as an working metric, and is introduced solely as a supplemental disclosure to reported GAAP measures as a result of administration believes this measure is broadly utilized by analysts, lenders, monetary establishments, and traders as a principal foundation for the valuation of gaming corporations. Administration believes that whereas gadgets excluded from Adjusted EBITDAR could also be recurring in nature and shouldn’t be disregarded in analysis of the Firm’s earnings efficiency, it’s helpful to exclude such gadgets when analyzing present outcomes and tendencies. Additionally, administration believes excluded gadgets might not relate particularly to present tendencies or be indicative of future outcomes. For instance, preopening and start-up bills can be considerably totally different in durations when the Firm is growing and establishing a significant enlargement mission and can rely on the place the present interval lies throughout the growth cycle, in addition to the scale and scope of the mission(s). Property transactions, internet contains regular recurring disposals, positive factors and losses on gross sales of property associated to particular property throughout the Firm’s resorts, but in addition contains positive factors or losses on gross sales of a complete working resort or a bunch of resorts and impairment expenses on total asset teams or investments in unconsolidated associates, which will not be comparable interval over interval. As well as, administration excludes lease expense associated to triple-net working leases and floor leases. Administration believes excluding lease expense associated to triple-net working leases and floor leases offers helpful info to analysts, lenders, monetary establishments, and traders when valuing the Firm, in addition to evaluating the Firm’s outcomes to different gaming corporations, with out regard to variations in capital construction and leasing preparations for the reason that operations of different gaming corporations might or might not embody triple-net working leases or floor leases. Nonetheless, as mentioned herein, Adjusted EBITDAR shouldn’t be seen as a measure of total working efficiency, an indicator of the Firm’s efficiency, thought-about in isolation, or construed as a substitute for working earnings or internet earnings, or as a substitute for money flows from working actions, as a measure of liquidity, or as a substitute for some other measure decided in accordance with typically accepted accounting rules, as a result of this measure is just not introduced on a GAAP foundation and excludes sure bills, together with the lease expense associated to triple-net working leases and floor leases, and is offered for the restricted functions mentioned herein. As well as, different corporations within the gaming and hospitality industries that report Adjusted EBITDAR might calculate Adjusted EBITDAR in a distinct method and such variations could also be materials. The Firm has important makes use of of money flows, together with capital expenditures, curiosity funds, taxes, actual property triple-net lease and floor lease funds, and debt principal repayments, which aren’t mirrored in Adjusted EBITDAR.

A reconciliation of GAAP internet earnings (loss) to Adjusted EBITDAR is included within the monetary schedules on this launch.

“Desk Video games Maintain Adjusted Las Vegas Strip Resorts Web Revenues” and “Desk Video games Maintain Adjusted Las Vegas Strip Resorts Identical-Retailer Web Revenues” are further supplemental non-GAAP monetary measures which are introduced to regulate Las Vegas Strip Resorts internet revenues for the influence of sure variances in desk video games win percentages in comparison with the mid-point of the anticipated ranges, as described herein. Desk Video games Maintain Adjusted Las Vegas Strip Resorts Identical-Retailer Web Revenues excludes the web revenues of acquired working segments from the date of acquisition via the top of the reporting interval and the web revenues of disposed working segments from the start of the reporting interval via the date of disposition and in addition excludes the maintain adjustment associated to such acquired and disposed working segments for the respective durations. Desk Video games Maintain Adjusted Las Vegas Strip Resorts Web Revenues and Desk Video games Maintain Adjusted Las Vegas Strip Resorts Identical-Retailer Web Revenues are additionally adjusted for the reductions and different incentives that will have been incurred or prevented when making use of the win percentages described herein to the respective gaming volumes. Administration believes Desk Video games Maintain Adjusted Las Vegas Strip Resorts Web Revenues and Desk Video games Maintain Adjusted Las Vegas Strip Resorts Identical-Retailer Web Revenues current constant measures in offering period-to-period comparisons and are helpful measures in helping traders in evaluating the Firm’s working efficiency, and that Desk Video games Maintain Adjusted Las Vegas Strip Resorts Identical-Retailer Web Revenues is beneficial in offering significant period-to-period comparisons of the outcomes of the Firm’s operations for working segments that had been consolidated by the Firm for the total interval introduced to help traders in reviewing the Firm’s working efficiency over time. Desk Video games Maintain Adjusted Las Vegas Strip Resorts Web Revenues and Desk Video games Maintain Adjusted Las Vegas Strip Resorts Identical-Retailer Web Revenues shouldn’t be construed as alternate options to GAAP internet revenues or to some other measure decided in accordance with typically accepted accounting rules and will not be outlined in the identical method by all corporations and, consequently, will not be similar to equally titled non-GAAP monetary measures of different corporations, and such variations could also be materials. Reconciliations of GAAP internet revenues to Desk Video games Maintain Adjusted Las Vegas Strip Resorts Web Revenues and Desk Video games Maintain Adjusted Las Vegas Strip Resorts Identical-Retailer Web Revenues are included within the monetary schedules on this launch.

3. REVPAR is lodge income per out there room.

About MGM Resorts Worldwide

MGM Resorts Worldwide (NYSE: MGM) is an S&P 500® international gaming and leisure firm with nationwide and worldwide places that includes best-in-class motels and casinos, state-of-the-art conferences and convention areas, unbelievable reside and theatrical leisure experiences, and an intensive array of restaurant, nightlife and retail choices. MGM Resorts creates immersive, iconic experiences via its suite of Las Vegas-inspired manufacturers. The MGM Resorts portfolio encompasses 32 distinctive lodge and gaming locations globally, together with a number of the most recognizable resort manufacturers within the trade. The Firm’s 50/50 enterprise, BetMGM, LLC, gives sports activities betting and on-line gaming in North America via market-leading manufacturers, together with BetMGM and partypoker, and the Firm’s subsidiary, LeoVegas AB, gives sports activities betting and on-line gaming via market-leading manufacturers in a number of jurisdictions all through Europe. The Firm is at the moment pursuing focused enlargement in Asia via the built-in resort alternative in Japan. By its “Targeted on What Issues: Embracing Humanity and Defending the Planet” philosophy, MGM Resorts commits to making a extra sustainable future, whereas striving to make an even bigger distinction within the lives of its staff, friends, and within the communities the place it operates. The worldwide staff of MGM Resorts are happy with their firm for being acknowledged as one in all FORTUNE® Journal’s World’s Most Admired Firms®. For extra info, please go to us at www.mgmresorts.com. Please additionally join with us @MGMResortsIntl on Twitter in addition to Fb and Instagram.

Statements on this launch that aren’t historic info are forward-looking statements, throughout the which means of the Personal Securities Litigation Reform Act of 1995 and contain dangers and/or uncertainties, together with these described within the Firm’s public filings with the Securities and Alternate Fee. The Firm has primarily based forward-looking statements on administration’s present expectations and assumptions and never on historic info. Examples of those statements embody, however should not restricted to, the Firm’s expectations concerning any advantages anticipated to be obtained from the Firm’s current transactions, future outcomes of the Firm (together with the Firm’s skill to keep up a powerful stability sheet), and its unconsolidated associates, together with BetMGM, expectations concerning the Firm’s free money movement and free money movement yield, expectations concerning the Firm’s liquidity place and the scale and timing of future investments, the Firm’s skill to execute on its strategic plans, together with the event of an built-in resort in Japan and positioning BetMGM as a frontrunner in sports activities betting and iGaming, and the Firm’s skill to return capital to shareholders (together with the timing and quantity of any share repurchases or dividends). These forward-looking statements contain quite a few dangers and uncertainties. Among the many necessary elements that might trigger precise outcomes to vary materially from these indicated in such forward-looking statements embody the continued influence of the COVID-19 pandemic on the Firm’s enterprise, the results of financial situations and market situations within the markets during which the Firm operates and competitors with different vacation spot journey places all through the US and the world, the design, timing and prices of enlargement tasks, dangers referring to worldwide operations, permits, licenses, financings, approvals and different contingencies in reference to progress in new or present jurisdictions and extra dangers and uncertainties described within the Firm’s Kind 10-Ok, Kind 10-Q and Kind 8-Ok reviews (together with all amendments to these reviews). In offering forward-looking statements, the Firm is just not enterprise any obligation or obligation to replace these statements publicly because of new info, future occasions or in any other case, besides as required by legislation. If the Firm updates a number of forward-looking statements, no inference needs to be drawn that it’s going to make further updates with respect to these different forward-looking statements.

MGM RESORTS CONTACTS:

SOURCE MGM Resorts Worldwide