Businessweek

MGM Resorts International, a global hospitality company, owns and operates casino resorts in the United States. The company’s casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities. It also owns and operates golf courses and a golf club. The company owns and operates the following casino resorts in Las Vegas, Nevada: Bellagio, MGM Grand Las Vegas (including The Signature), The Mirage, Mandalay Bay, Luxor, New York-New York, Monte Carlo, Excalibur, and Circus Circus Las Vegas. Other Nevada operations include Circus Circus Reno, Gold Strike in Jean, and Railroad Pass in Henderson. The company and its local partners own and operate MGM Grand Detroit in Detroit, Michigan. It owns and operates two resorts in Mississippi, Beau Rivage in Biloxi and Gold Strike Tunica. The company also owns Shadow Creek, a golf course located approximately 10 miles north of its Las Vegas Strip resorts, Primm Valley Golf Club at the California/Nevada state line, and Fallen Oak golf course in Saucier, Mississippi. The company owns 51% and has a controlling interest in MGM China Holdings Limited (MGM China), which owns MGM Grand Paradise, S.A. (MGM Grand Paradise), the Macau company that owns the MGM Macau resort and casino and the related gaming subconcession and land concession. The company owns 50% of CityCenter joint venture (CityCenter), located between Bellagio and Monte Carlo. The other 50% of CityCenter is owned by Infinity World Development Corp (Infinity World), a wholly owned subsidiary of Dubai World, a Dubai, the United Arab Emirates government decree entity. CityCenter consists of Aria, a casino resort; Mandarin Oriental Las Vegas, a non-gaming boutique hotel; Crystals, a retail, dining and entertainment district; and Vdara, a luxury condominium-hotel. In addition, CityCenter features residential units in the Residences at Mandarin Oriental and Veer. The company has 50% interests in Elgin Riverboat Resort–Riverboat Casino – Grand Victoria and Circus and Eldorado Joint Venture – Silver Legacy. Grand Victoria is a riverboat casino in Elgin, Illinois; an affiliate of Hyatt Gaming owns the other 50% of Grand Victoria and also operates the resort. Silver Legacy is located in Reno, adjacent to Circus Circus Reno, and the other 50% is owned by Eldorado LLC. It has a 50% economic interest in Borgata Hotel Casino & Spa (Borgata) located on Renaissance Pointe in the Marina area of Atlantic City, New Jersey. Boyd Gaming Corporation (Boyd) owns the other 50% of Borgata and also operates the resort. Segments The company’s segments include Wholly Owned Domestic Resorts and MGM China. Wholly Owned Domestic Resorts The company operates 15 Wholly Owned Resorts in the United States. Its wholly owned domestic resorts are derived from non-gaming operations, including hotel, food and beverage, entertainment and other non-gaming amenities. The company’s casino operations feature various slots, table games, and race and sports book wagering. In addition, it offers its premium players access to high-limit rooms and lounge experiences where players may enjoy an upscale atmosphere. MGM China MGM China's operations consist of the MGM Macau resort and casino. MGM Macau main floor operations consist of both table games and slot machines on the main gaming floors for the public, which usually consists of walk-in and day trip visitors. Gaming operations at MGM Macau are conducted under a gaming subconcession held by MGM Grand Paradise. The MGM Grand Paradise gaming subconcession was granted by Sociedade de Jogos de Macau, S.A. (SJM). Strategic Partnerships In 2011, the company announced a strategic partnership with bwin.party digital entertainment plc, the publicly traded online poker operator with operations under the PartyPoker brand. Intellectual Property The company’s principal intellectual property consists of trademarks for Bellagio, The Mirage, Mandalay Bay, MGM, MGM Grand, MGM Resorts International, Luxor, Excalibur, New York-New York, Circus Circus, and Beau Rivage, all of which have been registered or allowed in various classes in the U.S. Regulation and Licensing The company’s businesses are subject to various federal, state, local, and foreign laws and regulations affecting businesses in general. In addition, it is subject to certain federal, state and local environmental laws, regulations and ordinances, including the Clean Air Act, the Clean Water Act, the Resource Conservation Recovery Act, the Comprehensive Environmental Response, Compensation and Liability Act, and the Oil Pollution Act of 1990. History The company was founded in 1986. It was formerly known as MGM MIRAGE and changed its name to MGM Resorts International in 2010.