2018 Q4 Form 10-Q Financial Statement

#000156459018027761 Filed on November 07, 2018

View on sec.gov

Income Statement

Concept 2018 Q4 2018 Q3 2018 Q2
Revenue $3.053B $3.029B $2.859B
YoY Change 17.53% 7.04% 7.79%
Cost Of Revenue $1.827B $1.787B $1.669B
YoY Change 18.46% 11.85% 9.79%
Gross Profit $1.226B $1.242B $1.189B
YoY Change 16.15% 0.8% 5.11%
Gross Profit Margin 40.16% 41.0% 41.6%
Selling, General & Admin $581.6M $463.4M $438.5M
YoY Change -0.27% 15.27% 23.73%
% of Gross Profit 47.44% 37.32% 36.87%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $312.5M $300.5M $296.2M
YoY Change 25.3% 20.39% 21.05%
% of Gross Profit 25.49% 24.2% 24.91%
Operating Expenses $894.1M $463.4M $438.5M
YoY Change 7.4% 15.27% 23.73%
Operating Profit $335.8M $410.9M $363.1M
YoY Change 50.28% -16.6% -27.37%
Interest Expense -$198.2M $205.6M $181.5M
YoY Change 43.83% 25.9% -226.04%
% of Operating Profit -59.03% 50.03% 49.99%
Other Income/Expense, Net -$6.600M -$220.4M -$198.9M
YoY Change -60.0% 9.0% 7.32%
Pretax Income $98.50M $190.5M $164.1M
YoY Change 139.66% -34.43% -47.82%
Income Tax $92.00M $19.05M $23.71M
% Of Pretax Income 93.4% 10.0% 14.45%
Net Earnings -$23.33M $142.9M $123.8M
YoY Change -101.68% -3.7% -41.02%
Net Earnings / Revenue -0.76% 4.72% 4.33%
Basic Earnings Per Share -$0.06 $0.26 $0.21
Diluted Earnings Per Share -$0.06 $0.26 $0.21
COMMON SHARES
Basic Shares Outstanding 527.2M 535.1M 548.4M
Diluted Shares Outstanding 540.4M 554.3M

Balance Sheet

Concept 2018 Q4 2018 Q3 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.527B $1.303B $1.273B
YoY Change 1.8% -34.42% -27.55%
Cash & Equivalents $1.527B $1.303B $1.273B
Short-Term Investments
Other Short-Term Assets $204.0M $235.0M $181.0M
YoY Change 7.94% 23.04% 22.3%
Inventory $110.8M $104.0M $109.0M
Prepaid Expenses
Receivables $657.2M $547.0M $497.0M
Other Receivables $29.00M $19.00M $23.00M
Total Short-Term Assets $2.527B $2.208B $2.083B
YoY Change 6.33% -21.0% -16.18%
LONG-TERM ASSETS
Property, Plant & Equipment $20.73B $20.73B $19.86B
YoY Change 5.57% 8.35% 5.11%
Goodwill $1.821B
YoY Change 0.82%
Intangibles $3.944B
YoY Change 1.71%
Long-Term Investments $733.0M $666.0M $883.0M
YoY Change -29.04% -33.93% -9.99%
Other Assets $455.3M $552.0M $570.0M
YoY Change 5.78% 27.48% 42.5%
Total Long-Term Assets $27.68B $27.77B $26.89B
YoY Change 3.36% 5.55% 3.21%
TOTAL ASSETS
Total Short-Term Assets $2.527B $2.208B $2.083B
Total Long-Term Assets $27.68B $27.77B $26.89B
Total Assets $30.21B $29.97B $28.98B
YoY Change 3.6% 3.0% 1.52%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $302.6M $301.0M $268.0M
YoY Change 18.65% 23.87% 30.1%
Accrued Expenses $47.00M $35.00M $60.00M
YoY Change 67.86% 218.18% 27.66%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $43.41M $0.00 $0.00
YoY Change -72.52% -100.0% -100.0%
Total Short-Term Liabilities $2.949B $2.978B $3.065B
YoY Change -6.03% 8.85% 14.37%
LONG-TERM LIABILITIES
Long-Term Debt $15.09B $14.66B $13.51B
YoY Change 18.33% 12.57% 6.19%
Other Long-Term Liabilities $259.2M $251.0M $246.0M
YoY Change -8.72% -12.24% -15.17%
Total Long-Term Liabilities $15.35B $14.92B $13.76B
YoY Change 17.74% 12.03% 5.72%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.949B $2.978B $3.065B
Total Long-Term Liabilities $15.35B $14.92B $13.76B
Total Liabilities $19.64B $19.13B $18.05B
YoY Change 12.42% 2.22% -1.12%
SHAREHOLDERS EQUITY
Retained Earnings $2.423B
YoY Change
Common Stock $4.097B
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $6.512B $6.773B $6.847B
YoY Change
Total Liabilities & Shareholders Equity $30.21B $29.97B $28.98B
YoY Change 3.6% 3.0% 1.52%

Cashflow Statement

Concept 2018 Q4 2018 Q3 2018 Q2
OPERATING ACTIVITIES
Net Income -$23.33M $142.9M $123.8M
YoY Change -101.68% -3.7% -41.02%
Depreciation, Depletion And Amortization $312.5M $300.5M $296.2M
YoY Change 25.3% 20.39% 21.05%
Cash From Operating Activities $327.0M $302.3M $515.5M
YoY Change -52.92% -47.22% -3.41%
INVESTING ACTIVITIES
Capital Expenditures -$262.9M -$362.1M -$443.2M
YoY Change -43.44% -31.25% 6.41%
Acquisitions
YoY Change
Other Investing Activities -$21.40M -$757.1M $196.1M
YoY Change -298.15% 10563.38% -32.31%
Cash From Investing Activities -$284.3M -$1.119B -$247.0M
YoY Change -37.38% 109.69% 94.64%
FINANCING ACTIVITIES
Cash Dividend Paid $64.00M $65.00M
YoY Change 1.59% 3.17%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 181.8M 845.6M -521.1M
YoY Change -125.01% 342.95% 1100.69%
NET CHANGE
Cash From Operating Activities 327.0M 302.3M 515.5M
Cash From Investing Activities -284.3M -1.119B -247.0M
Cash From Financing Activities 181.8M 845.6M -521.1M
Net Change In Cash 224.5M 28.60M -252.6M
YoY Change -146.16% -87.56% -169.51%
FREE CASH FLOW
Cash From Operating Activities $327.0M $302.3M $515.5M
Capital Expenditures -$262.9M -$362.1M -$443.2M
Free Cash Flow $589.9M $664.4M $958.7M
YoY Change -49.12% -39.57% 0.89%

Facts In Submission

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us-gaap Nature Of Operations
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<div> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">NOTE 1 &#8212; ORGANIZATION </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">Organization.<font style="font-weight:normal;"> MGM Resorts International (together with its consolidated subsidiaries, unless otherwise indicated or unless the context requires otherwise, the &#8220;Company&#8221;) is a Delaware corporation that acts largely as a holding company and, through subsidiaries, owns and operates casino resorts.</font></p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company owns and operates the following integrated casino, hotel and entertainment resorts in Las Vegas, Nevada: Bellagio, MGM Grand Las Vegas, The Mirage, Mandalay Bay, Luxor, New York-New York, Park MGM (which was branded as Monte Carlo prior to May 2018), Excalibur and Circus Circus Las Vegas. Operations at MGM Grand Las Vegas include management of The Signature at MGM Grand Las Vegas, a condominium-hotel consisting of three towers. The Company operates and, along with local investors, owns MGM Grand Detroit in Detroit, Michigan, MGM National Harbor in Prince George&#8217;s County, Maryland, and MGM Springfield in Springfield, Massachusetts, which opened on August 24, 2018. The Company also owns and operates Borgata located on Renaissance Pointe in the Marina area of Atlantic City, New Jersey, and the following resorts in Mississippi: Beau Rivage in Biloxi and Gold Strike in Tunica. The Company owns and operates The Park, a dining and entertainment district located between New York-New York and Park MGM, Shadow Creek, an exclusive world-class golf course located approximately ten 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. </p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">MGM Growth Properties LLC (&#8220;MGP&#8221;), a consolidated subsidiary of the Company, is organized as an umbrella partnership REIT (commonly referred to as an UPREIT) structure in which substantially all of its assets are owned by and substantially all of its businesses are conducted through MGM Growth Properties Operating Partnership LP (the &#8220;Operating Partnership&#8221;), its subsidiary. MGP has two classes of authorized and outstanding voting common shares (collectively, the &#8220;shares&#8221;): Class A shares and a single Class B share. The Company owns MGP&#8217;s Class B share, which does not provide its holder any rights to profits or losses or any rights to receive distributions from operations of MGP or upon liquidation or winding up of MGP. MGP&#8217;s Class A shareholders are entitled to one vote per share, while the Company, as the owner of the Class B share, is entitled to an amount of votes representing a majority of the total voting power of MGP&#8217;s shares so long as the Company and its controlled affiliates&#8217; (excluding MGP) aggregate beneficial ownership of the combined economic interests in MGP and the Operating Partnership does not fall below 30%. The Company and MGP each hold Operating Partnership units representing limited partner interests in the Operating Partnership. The general partner of the Operating Partnership is a wholly-owned subsidiary of MGP. The Operating Partnership units held by the Company are exchangeable into Class A shares of MGP on a one-to-one basis, or cash at the fair value of a Class A share. The determination of settlement method is at the option of MGP&#8217;s independent conflicts committee. As of September 30, 2018, the Company owned 73.3% of the Operating Partnership units and MGP held the remaining 26.7% of the Operating Partnership units.</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Pursuant to a master lease agreement between a subsidiary of the Company (the &#8220;tenant&#8221;) and a subsidiary of the Operating Partnership (the &#8220;landlord&#8221;), the tenant leases the real estate assets of The Mirage, Mandalay Bay, Luxor, New York-New York, Park MGM, Excalibur, The Park, Gold Strike Tunica, MGM Grand Detroit, Beau Rivage, Borgata, and MGM National Harbor from the landlord.</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On July 6, 2018, MGP completed its previously announced acquisition of the membership interests of Northfield Park Associates, LLC (&#8220;Northfield&#8221;), an Ohio limited liability company that owns the real estate assets and operations of the Hard Rock Rocksino Northfield Park from Milstein Entertainment LLC. Simultaneously with the close of the transaction, MGP entered into a new agreement with an affiliate of Hard Rock Caf&#233; International (STP), Inc. to continue to serve as the manager of the property. Refer to Note 3 for additional information.</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On September 18, 2018, the Company entered into an agreement with MGP to acquire all of the operating assets of Northfield from MGP. Northfield will be added to the existing master lease between the Company and MGP. The transaction is expected to close in the first half of 2019, subject to customary closing conditions and regulatory approvals. Refer to Note 3 for additional information.</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On May 28, 2018,&#160;the Company entered into an agreement to acquire the real property and operations associated with the&#160;Empire City Casino's&#160;race track and casino ("Empire City"). The Company&#160;also entered into a definitive agreement with MGP whereby MGP will acquire the developed real property associated with Empire City from&#160;the Company. The transactions are expected to close in the first quarter of 2019, subject to regulatory approvals and other customary closing conditions. Refer to Note 3 for additional information.</p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company has an approximate 56% controlling interest in MGM China, which owns MGM Grand Paradise, S.A. (&#8220;MGM Grand Paradise&#8221;). MGM Grand Paradise owns and operates the MGM Macau resort and casino and the related gaming subconcession and land concessions as well as MGM Cotai, an integrated casino, hotel and entertainment resort located on the Cotai Strip in Macau that opened on February 13, 2018. </p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company owns 50% of and manages CityCenter Holdings, LLC (&#8220;CityCenter&#8221;), located between Bellagio and Park MGM. The other 50% of CityCenter is owned by Infinity World Development Corp, a wholly owned subsidiary of Dubai World, a Dubai, United Arab Emirates government decree entity. CityCenter consists of Aria, an integrated casino, hotel and entertainment resort; and Vdara, a luxury condominium-hotel. <font style="Background-color:#FFFFFF;color:#000000;">On August 30, 2018, a subsidiary of CityCenter completed the previously announced sale of the Mandarin Oriental Las Vegas and adjacent retail parcels</font>. See Note 4 for additional information related to CityCenter.</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company and a subsidiary of Anschutz Entertainment Group, Inc. (&#8220;AEG&#8221;) each own 42.5% of the Las Vegas Arena Company, LLC (&#8220;Las Vegas Arena Company&#8221;), the entity which owns the T-Mobile Arena, and Athena Arena, LLC owns the remaining 15%. The Company manages the T-Mobile Arena, which is located on a parcel of the Company&#8217;s land between Frank Sinatra Drive and New York-New York, adjacent to the Las Vegas Strip. The T-Mobile Arena is a 20,000 seat venue designed to host world-class events &#8211; from mixed martial arts, boxing, basketball and bull riding, to high profile awards shows and top-name concerts, and is the home of the Vegas Golden Knights of the National Hockey League. Additionally, the Company leases the MGM Grand Garden Arena, located adjacent to the MGM Grand Las Vegas, to the Las Vegas Arena Company. See Note 4 for additional information regarding the Company&#8217;s investment in the Las Vegas Arena Company.</p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On August 7, 2018, the Company, along with its joint venture partner, completed the previously announced sale of its 50% interest in Grand Victoria, a riverboat casino in Elgin, Illinois. See Note 4 for additional information regarding the Company&#8217;s investment in Grand Victoria.</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company has two reportable segments: domestic resorts and MGM China. See Note 10 for additional information about the Company&#8217;s segments.</p></div>
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CY2017Q4 us-gaap Retention Payable
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mgm Commissions Complimentaries And Other Incentives
CommissionsComplimentariesAndOtherIncentives
1700000000
CY2017Q3 mgm Commissions Complimentaries And Other Incentives
CommissionsComplimentariesAndOtherIncentives
535000000
mgm Commissions Complimentaries And Other Incentives
CommissionsComplimentariesAndOtherIncentives
1500000000
CY2018Q3 mgm Preopening Costs From Unconsolidated Affiliates
PreopeningCostsFromUnconsolidatedAffiliates
0
CY2017Q3 mgm Preopening Costs From Unconsolidated Affiliates
PreopeningCostsFromUnconsolidatedAffiliates
0
mgm Preopening Costs From Unconsolidated Affiliates
PreopeningCostsFromUnconsolidatedAffiliates
3321000
mgm Preopening Costs From Unconsolidated Affiliates
PreopeningCostsFromUnconsolidatedAffiliates
0
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CY2017Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
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CY2018Q3 mgm Percentage Of Dividend On Equity Method Investments From Unconsolidated Affiliates
PercentageOfDividendOnEquityMethodInvestmentsFromUnconsolidatedAffiliates
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CY2018Q2 mgm Percentage Of Dividend On Equity Method Investments From Unconsolidated Affiliates
PercentageOfDividendOnEquityMethodInvestmentsFromUnconsolidatedAffiliates
0.50
CY2017Q2 mgm Percentage Of Dividend On Equity Method Investments From Unconsolidated Affiliates
PercentageOfDividendOnEquityMethodInvestmentsFromUnconsolidatedAffiliates
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ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
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ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
200000000
CY2017Q2 us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
300000000
CY2018Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
14790426000
CY2017Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
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CY2018Q3 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
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CY2017Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
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LongTermDebt
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LongTermDebt
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CY2018Q3 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
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LongTermDebtFairValue
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CY2018Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.100
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
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mgm Tax Cuts And Jobs Act Of2017 Change In Tax Rate Income Tax Expense Benefit
TaxCutsAndJobsActOf2017ChangeInTaxRateIncomeTaxExpenseBenefit
-72000000
mgm Foreign Tax Credit Carry Forward Period
ForeignTaxCreditCarryForwardPeriod
P10Y
CY2018Q3 mgm Tax Cuts And Jobs Act Of2017 Measurement Period Adjustment Income Tax Expense Benefit
TaxCutsAndJobsActOf2017MeasurementPeriodAdjustmentIncomeTaxExpenseBenefit
0
CY2018Q3 us-gaap Deferred Tax Liabilities Deferred Expense
DeferredTaxLiabilitiesDeferredExpense
41000000
CY2018Q3 mgm Adjustment Related To Redeemable Noncontrolling Interests
AdjustmentRelatedToRedeemableNoncontrollingInterests
-4155000
CY2017Q3 mgm Adjustment Related To Redeemable Noncontrolling Interests
AdjustmentRelatedToRedeemableNoncontrollingInterests
-28000
mgm Adjustment Related To Redeemable Noncontrolling Interests
AdjustmentRelatedToRedeemableNoncontrollingInterests
-14739000
mgm Adjustment Related To Redeemable Noncontrolling Interests
AdjustmentRelatedToRedeemableNoncontrollingInterests
-83000
CY2018Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
138723000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
564556000
CY2017Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
148335000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2424000
us-gaap Dividends Payable Date Declared Day Month And Year
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2018-10-30
us-gaap Dividend Payable Date To Be Paid Day Month And Year
DividendPayableDateToBePaidDayMonthAndYear
2018-12-14
CY2018Q3 us-gaap Amount Of Dilutive Securities Stock Options And Restrictive Stock Units
AmountOfDilutiveSecuritiesStockOptionsAndRestrictiveStockUnits
-43000
CY2017Q3 us-gaap Amount Of Dilutive Securities Stock Options And Restrictive Stock Units
AmountOfDilutiveSecuritiesStockOptionsAndRestrictiveStockUnits
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us-gaap Amount Of Dilutive Securities Stock Options And Restrictive Stock Units
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us-gaap Amount Of Dilutive Securities Stock Options And Restrictive Stock Units
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CY2018Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
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CY2017Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
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us-gaap Net Income Loss Available To Common Stockholders Diluted
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us-gaap Net Income Loss Available To Common Stockholders Diluted
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564381000
CY2018Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2017Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2017Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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us-gaap Dividends Payable Date Of Record Day Month And Year
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2018-12-10
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CY2018Q3 us-gaap Common Stock Dividends Per Share Cash Paid
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CY2017Q1 us-gaap Common Stock Dividends Per Share Cash Paid
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CY2017Q3 us-gaap Common Stock Dividends Per Share Cash Paid
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mgm Number Of Geographical Regions
NumberOfGeographicalRegions
2
CY2018Q3 mgm Investment In Consolidated Subsidiary
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0
CY2018Q3 mgm Investments In Operating Partnership
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0
CY2018Q3 us-gaap Due From Affiliate Noncurrent
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CY2018Q3 us-gaap Assets Noncurrent Other Than Noncurrent Investments And Property Plant And Equipment
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CY2018Q3 us-gaap Due To Affiliate Noncurrent
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0
CY2018Q3 us-gaap Liabilities
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19133997000
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CY2017Q4 us-gaap Assets Noncurrent Other Than Noncurrent Investments And Property Plant And Equipment
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CY2017Q4 us-gaap Liabilities
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17469140000
CY2018Q3 us-gaap Income Loss From Subsidiaries Net Of Tax
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0
CY2018Q3 mgm Cost Of Casino And Hotel Operations And Reimbursable Expense
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CY2018Q3 mgm Goodwill Impairment And Property Transactions Net
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CY2018Q3 mgm Other Nonoperating Income Expense Including Items From Unconsolidated Affiliates
OtherNonoperatingIncomeExpenseIncludingItemsFromUnconsolidatedAffiliates
-14874000
CY2018Q3 us-gaap Unrealized Gain Loss On Cash Flow Hedging Instruments
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4028000
us-gaap Income Loss From Subsidiaries Net Of Tax
IncomeLossFromSubsidiariesNetOfTax
0
mgm Cost Of Casino And Hotel Operations And Reimbursable Expense
CostOfCasinoAndHotelOperationsAndReimbursableExpense
5092050000
mgm Goodwill Impairment And Property Transactions Net
GoodwillImpairmentAndPropertyTransactionsNet
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mgm Other Nonoperating Income Expense Including Items From Unconsolidated Affiliates
OtherNonoperatingIncomeExpenseIncludingItemsFromUnconsolidatedAffiliates
-43249000
us-gaap Unrealized Gain Loss On Cash Flow Hedging Instruments
UnrealizedGainLossOnCashFlowHedgingInstruments
23219000
mgm Proceeds From Payments To Intercompany Activity
ProceedsFromPaymentsToIntercompanyActivity
0
us-gaap Cash Dividends Paid To Parent Company By Consolidated Subsidiaries
CashDividendsPaidToParentCompanyByConsolidatedSubsidiaries
0
mgm Change In Intercompany Payable Financing Activities
ChangeInIntercompanyPayableFinancingActivities
0
CY2017Q3 us-gaap Income Loss From Subsidiaries Net Of Tax
IncomeLossFromSubsidiariesNetOfTax
0
CY2017Q3 mgm Cost Of Casino And Hotel Operations And Reimbursable Expense
CostOfCasinoAndHotelOperationsAndReimbursableExpense
1598072000
CY2017Q3 mgm Goodwill Impairment And Property Transactions Net
GoodwillImpairmentAndPropertyTransactionsNet
7711000
CY2017Q3 mgm Other Nonoperating Income Expense Including Items From Unconsolidated Affiliates
OtherNonoperatingIncomeExpenseIncludingItemsFromUnconsolidatedAffiliates
-38963000
CY2017Q3 us-gaap Unrealized Gain Loss On Cash Flow Hedging Instruments
UnrealizedGainLossOnCashFlowHedgingInstruments
1316000
us-gaap Income Loss From Subsidiaries Net Of Tax
IncomeLossFromSubsidiariesNetOfTax
0
mgm Cost Of Casino And Hotel Operations And Reimbursable Expense
CostOfCasinoAndHotelOperationsAndReimbursableExpense
4651058000
mgm Goodwill Impairment And Property Transactions Net
GoodwillImpairmentAndPropertyTransactionsNet
22650000
mgm Other Nonoperating Income Expense Including Items From Unconsolidated Affiliates
OtherNonoperatingIncomeExpenseIncludingItemsFromUnconsolidatedAffiliates
-58008000
us-gaap Unrealized Gain Loss On Cash Flow Hedging Instruments
UnrealizedGainLossOnCashFlowHedgingInstruments
-2641000
mgm Proceeds From Payments To Intercompany Activity
ProceedsFromPaymentsToIntercompanyActivity
0
us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
404685000
us-gaap Cash Dividends Paid To Parent Company By Consolidated Subsidiaries
CashDividendsPaidToParentCompanyByConsolidatedSubsidiaries
0
mgm Change In Intercompany Payable Financing Activities
ChangeInIntercompanyPayableFinancingActivities
0

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