MGM Resorts International (NYSE:MGM) BetMGM Business Update Conference Call December 4, 2023 11:00 AM ET Company Participants Adam Greenblatt - CEO, BetMGM Gary Deutsch - CFO, BetMGM Conference Call Participants Ed Young - Morgan Stanley Joe Greff - JPMorgan Carlo Santarelli - Deutsche Bank Shaun Kelley - Bank of America Stephen Grambling - Morgan Stanley Dan Politzer - Wells Fargo Brandt Montour - Barclays Joe Thomas - HSBC Robin Farley - UBS Chad Beynon - Macquarie Joe Stauff - Susquehanna Operator Good d ...

MGM Resorts International (NYSE:MGM) Bank of America Leveraged Finance Conference Call November 28, 2023 3:30 PM ET Company Participants Jonathan Halkyard - CFO & Treasurer Conference Call Participants James Kayler - Bank of America Merrill Lynch James Kayler I think there might be a few more people wandering, and will kick this off. The clock to start. Afternoon, everyone. Thank you for joining us. Very happy to have MGM Resorts, an old friend, Jonathan Halkyard, Chief Financial Officer of MGM. Thank you, ...

Financial Data and Key Metrics Changes - The company reported consolidated net revenues of $4 billion, a 16% increase from the previous year [20] - Net income was $161 million, and adjusted EBITDAR reached $1.1 billion, significantly supported by MGM China [20] - Free cash flow was $484 million, with net cash from operating activities at $694 million [20] Business Line Data and Key Metrics Changes - In Las Vegas, net revenues were $2.1 billion, down $195 million or 8% year-over-year, with adjusted property EBITDAR decreasing 16% to $714 million [21] - Regional properties generated $925 million in revenues, a 5% decline compared to the prior year, while adjusted property EBITDAR fell 9% to $293 million [22] - In Macau, adjusted property EBITDAR was $226 million, a 23% increase compared to Q3 2019, with casino revenues exceeding 2019 levels [23] Market Data and Key Metrics Changes - Las Vegas occupancy rates fell to 88% in September but rebounded to 95% in October [21] - Macau's market share reached over 15% in October, with an all-time record adjusted property EBITDAR for the month [10][11] Company Strategy and Development Direction - The company is focused on enhancing its casino floor and existing room products to maximize yield and drive international tourism [11] - MGM is preparing for significant events like the Formula One race and expects strong future bookings and group pace into 2024 [9] - The company is also pursuing opportunities in Japan and New York, with plans for substantial investments in both regions [14][15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the resilience of the business following the cybersecurity incident, expecting insurance to cover losses incurred [6][19] - The outlook for 2024 is positive, driven by strong demand for events, improved marketing strategies, and a robust event calendar [9][10] - Management highlighted the importance of maintaining margins and operational performance amidst rising labor costs and inflation [47][82] Other Important Information - The company is negotiating new contracts with unions in Las Vegas and Detroit, aiming for significant pay increases for employees [8] - A new $2 billion share buyback program was approved by the Board, reflecting confidence in the company's financial position [17][53] Q&A Session Summary Question: How is the group mix for next year, especially with the Mandalay Bay Convention Center reopening? - The convention space will be fully renovated by Q2 next year, expected to add about 100,000 extra rooms [31] Question: What are the internal expectations for the Formula One event? - Over 10,000 tickets sold, with an expected $60 million in incremental hotel revenue for the weekend [34] Question: How do non-event periods look compared to last year? - The company is optimistic about future events like the Super Bowl and has seen a growth in convention business [39] Question: What is the impact of higher baccarat hold on EBITDA? - The company has seen a shift in domestic baccarat business, contributing positively to the hold [42] Question: What are the expectations for operating expenses and inflation? - The company anticipates low single-digit inflation in core inputs, with initiatives in place to minimize impacts [82] Question: What is the outlook for the Dubai market regarding gaming legalization? - The company is optimistic about potential gaming legalization in Dubai, with ongoing discussions [62]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-10362 MGM Resorts International (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorpor ...

MGM Resorts International (NYSE:MGM) Q2 2023 Earnings Call Transcript Q2 2023 Earnings Call Transcript August 2, 2023 11:00 AM ET Company Participants Andrew Chapman - Director, IR William Hornbuckle - CEO and President Jonathan Halkyard - CFO Corey Sanders - COO Hubert Wang - President and Chief Operating Officer of MGM China Conference Call Participants Joseph Greff - JPMorgan Shaun Kelley - Bank of America David Katz - Jefferies Barry Jonas - Truist Securities Carlo Santarelli - Deutsche Bank Stephen Gra ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-10362 MGM Resorts International (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-10362 MGM Resorts International (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporatio ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-10362 MGM Resorts International (Exact name of Registrant as specified in its charter) (State or other jurisdiction of incorporation or ...

MGM Resorts International. (NYSE:MGM) Q3 2022 Earnings Conference Call November 2, 2022 5:00 PM ET Company Participants Andrew Chapman - Director, IR William Hornbuckle - CEO and President Jonathan Halkyard - CFO Corey Sanders - COO Hubert Wang - President and Chief Operating Officer of MGM China Conference Call Participants Joe Greff - JPMorgan Carlo Santarelli - Deutsche Bank Shaun Kelley - Bank of America David Katz - Jefferies Daniel Politzer - Wells Fargo Chad Beynon - Macquarie Robin Farley - UBS John ...