MGM Resorts International

MGM Resorts International

MGM Resorts International

Overview
Date Founded

1986

Headquarters

250 Royall St., Canton, Massachusetts, 02021, United States

Type of Company

Public

Employees (Worldwide)

70K

Industries

Casinos & Gaming
Hotels, Resorts, and Cruiselines
Holding Companies
Recreation & Leisure

Company Description

MGM Resorts International is a holding company, which engages in the ownership and operations of casino resorts. The firm's casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities. It operates through the following business segments: Las Vegas Strip Resorts, Regional Operations and MGM China. The Las Vegas Strip Resorts segment consists of the following casino resorts: Bellagio, MGM Grand Las Vegas, Mandalay Bay, The Mirage, Luxor, New York-New, Excalibur, Park MGM, and Circus Las Vegas. The Regional Operations segment consists of the following casino resorts: MGM Grand Detroit in Detroit, Michigan; Beau Rivage in Biloxi, Mississippi; Gold Strike Tunica in Tunica, Mississippi; Borgata in Atlantic City, New Jersey; MGM National Harbor in Prince George's County, Maryland; and MGM Springfield in Springfield, Massachusetts. The MGM China segment consists of MGM Macau and MGM Cotai. The company was founded by Kerkor Kerkorian on January 29, 1986 and is headquartered in Las Vegas, NV.

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Executives & Employees

President, Chief Executive & Operating Officer

Chief Corporate Counsel & Assistant Secretary

Chief Financial Officer & Treasurer

Secretary, Executive Vice President & General Counsel

Executive Vice President & Chief Accounting Officer

Chief Strategy Officer

Senior Vice President & Chief Digital Officer

Executive Vice President-Operations

Executive Vice President-Global Government & Industry Affairs

Senior Vice President-Public Relations

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Owners & Shareholders
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Corvex Management focuses on fundamental, value-based, event-driven investing across the capital structure. The firm's investment process based on fundamental business, credit and market analysis, credit structure analysis and identification of an investment catalyst. They employ an opportunistic approach to investing with a specific focus on equity investments, special situations and distressed securities. The firm often seeks to be an active investor and work with portfolio companies to create investment opportunities. Corvex Management is an activist firm and is included in the SharkWatch50 as one the 50 most prominent activist investors.

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Canyon Capital Advisors is a multi-strategy, credit-focused, global value-oriented asset manager that invests across a variety of asset classes, including bank debt, high yield, distressed and special situation securities, securitized assets, equities (including preferred and common stock), convertible arbitrage and risk arbitrage. The firm emphasizes bottom-up fundamental credit analysis and looks across the corporate capital structure, investing opportunistically across senior secured leveraged loans, high yield bonds, convertibles, equities and credit derivatives. Additionally, they look beyond the traditional corporate markets to the structured finance space, where they invests in mortgage securities/derivatives, aircraft lease securitizations, CDOs/CLOs, distressed structured municipal bonds and other areas.

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Blue Harbour Group primarily invests in publicly-traded equities and equity-like securities of US and Canadian mid-cap companies that they believe are undervalued by the public securities markets. Their investment strategy also often involves Blue Harbour seeking to be a significant minority shareholder in portfolio companies. They take a private equity approach to public market investing and aim to deliver superior returns through a value-oriented investment strategy that focuses on companies that are (or should be) implementing strategic change. The firm employs bottom-up research with significant emphasis on fundamental analysis. Blue Harbour Group looks for companies they believe are fundamentally undervalued and seeks to enhance returns by identifying and suggesting initiatives to create value. They also invest in companies undergoing an event precipitated by the company itself or by third parties, such as takeovers, significant management changes, changes in strategic direction, acquisitions, divestitures, mergers, liquidation procedures, recapitalizations or balance sheet restructurings.

Recent Transactions
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Ruffin Acquisition LLC purchases Circus Circus Casinos, Inc. from MGM Resorts International

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MGM Resorts International purchases Sydell Group Ltd.

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MGM Resorts International purchases MGM Northfield Park from MGM Growth Properties LLC

Insider Transactions
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Transaction Advisors
Accountant

Advised onMGM Resorts International purchases Mirage Resorts LLC

Investment Advisor

Advised onMGM Resorts International purchases Mirage Resorts LLC

Legal Advisor

Advised onMGM Resorts International purchases Mandalay Resort Group

Legal Advisor

Advised onMGM Resorts International purchases Yonkers Racing Corp.

Legal Advisor

Advised onMGM Resorts International purchases Mandalay Resort Group

Legal Advisor

Advised onMGM Resorts International purchases Mandalay Resort Group

Advisors & Consultants
Legal Advisor

Partner at Weil, Gotshal & Manges LLP

Legal Advisor

Partner at Latham & Watkins LLP

Advisor

Principal at Gensler, Inc.

Clients

MGM China Holdings Ltd. is an investment company, which engages in the development and operation of gaming and lodging resorts. The company involves in owning and management of casino, hotel, food and beverage, and retail operations. Its properties include MGM Macau and MGM Cotai. The company was founded on July 2, 2010 and is headquartered in Macau.

Joy City Property Ltd. operates as a commercial property developer and operator, which focuses on the development, operation, sales, leasing, and management of complexes and commercial properties. It operates through the following segments: Property Investment, Property and Land Development, Hotel Operations, and Property Management and Related Services. The Property Investment segment involves property letting. The Property and Land Development segment focuses on the sale of properties, and development of lands. The Hotel Operations segment deals with hotel ownership and management. The Property Management and Related Services segment provides agency services and property management services. The company was founded on September 23, 1992 and is headquartered in Hong Kong.

PROVIDING SOLUTIONS TO EFFECTIVELY MANAGE WATER, THE WORLD'S MOST IMPORTANT RESOURCE.

Key Stats and Financials As of 2019
Market Capitalization
$9.1B
Total Enterprise Value
$35.9B
Earnings Per Share
$3.88
Revenue
$12.9B
Total Equity
$12.8B
EBITDAMargin
22.38%
Enterprise Value Sales
2.78x
Enterprise Value EBITDAOperating
10.92x
TEVNet Income
17.53x
Debt TEV
0.44x
EBITDA
$2.89B
Total Debt
$15.6B
Net Profit
$2.05B
Three Year Compounded Annual Growth Rate Of Revenue
10.91%
Five Year Compounded Annual Growth Rate Of Revenue
5.05%
Non-Profit Donations & Grants
Political Donations
Investments
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Tunity, Inc. develops deep learning and computer vision based technology that allows users to hear live audio from muted televisions directly on their mobile device. Its app allows to listen in real time to live news, sports and entertainment programming. The company was founded by Adi Gabber and Yaniv Davidson and is headquartered in New York, NY.

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PlayStudios, Inc. develops casual games for social platforms. Its applications include play free mobile slots, play free slots on facebook, play free blackjack, play free konami slots and play pop slots. The company was founded in April 2011 by Andrew S. Pascal, Paul D. Mathews, Nicholas Koenig, Monty Kerr, Chad Hansing and Michael P. Rolnick and is headquartered in Las Vegas, NV.

Investors
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Suppliers
Morgans Hotel Group Co. Hotels, Resorts, and Cruiselines | New York, NY

Morgans Hotel Group Co. operates, owns, acquires, develops and redevelops boutique hotels. It also operates nightclubs, restaurants, bars, and other food and beverage venues in many of the hotels and casinos. The company was founded in 1984 and is headquartered in New York, NY.

South Jersey Industries, Inc. Holding Companies | Folsom, NJ

South Jersey Industries, Inc. is a holding company, which engages in the provision of energy-related products and services. It operates through the following segments: SJG Utility Operations; ETG Utility Operations; ELK Utility Operations, Wholesale Energy Operations; Retail Electric Operations; Appliance Service Operations; Midstream; and Corporate & Services. The SJG Utility Operations segment consists of natural gas distribution to residential, commercial and industrial customers in southern New Jersey. The ETG Utility Operations segment consists of natural gas distribution to residential, commercial and industrial customers in northern and central New Jersey. The ELK Utility Operations segment consists of natural gas distribution to residential, commercial and industrial customers in Maryland. The Wholesale Energy Operations segment includes the activities of South Jersey Resources Group and South Jersey Exploration. The Retail Electric Operations segment consists of electricity acquisition and transportation to commercial, industrial and residential customers. The Appliance Service Operations segment comprises of South Jersey Energy Service Plus, which serviced residential and small commercial HVAC systems, installed small commercial HVAC systems, provided plumbing services, and serviced appliances under warranty via a subcontractor arrangement as well as on a time and materials basis. The Midstream segment invests in infrastructure and other midstream projects, including a current project to build a natural gas pipeline in Pennsylvania and New Jersey. The Corporate & Services segment refers to the costs incurred related to the agreement to Elizabethtown Gas and Elkton Gas. The company was founded in 1969 and is headquartered in Folsom, NJ.

SP Plus Corp. Other Business & Consulting Services | Chicago, IL

SP Plus Corp. provides professional parking, ground transportation, facility maintenance, security, event logistics, and baggage handling and related services to commercial, institutional, municipal and aviation clients. It also provides a wide range of event logistics services. The company was founded in 1929 and is headquartered in Chicago, IL.

Awards & Honors
Rank #309
2016
Fortune Magazine - Fortune 1000 Companies
Sponsored by Fortune Magazine
Rank #309
2016
Fortune Magazine - Fortune 500 Companies
Sponsored by Fortune Magazine
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